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NBIL

GradeCNASDAQ

GraniteShares 2x Long NBIS Daily ETF

Leveraged · Single-Stock Leveraged · GraniteShares · Inception 2025-10-07

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$25.60−1.21 (−4.51%)

As of Sep 23, 2026, 3:10 PM EDT

History starts Oct 7, 2025.History starts Oct 7, 2025.
Intraday session: down, 69 prints from 26.81 to 25.60. Range 25.29 to 26.49. Use the arrow keys to read each point.$26.00$26.5010 AM12 PM2 PM4 PM
Expense ratio
1.50%
Fund size
$230M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
3.1M sh
NAV per share
$26.05
52W range
low $6.37high $68.49

The ETF.net NBIL Grade

C

43/ 100

Rank 116 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for NBIL. Scores out of 100: Cost 13, Risk 48, Mission 98, Tradability 89, Holdings not scored, Durability 76. Strongest: Mission (98). Weakest: Cost (13). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 43 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 13
    Category rank330/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 98
    Category rank19/147 · top 13%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 48
    Category rank144/285 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 89
    Category rank23/380 · top 6%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 76
    Category rank38/380 · top 10%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on NBIL

ETF.net Research

CTwo times the daily move of Nebius, the Amsterdam AI-cloud company rebuilt from Yandex's non-Russian assets. One volatile stock, doubled, reset every night: a trading tool by design, not a set-and-forget holding.

Stated mandate

The Fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change of Nebius Group N.V. stock.

Why people hold it

  1. 01Does the job on the tin: it has stayed close to its stated 2x daily NBIS target, one of the tighter implementations in a crowded single-stock leverage field.
  2. 02Actively traded for such a young fund, which helps keep the cost of getting in and out contained.
  3. 03Doubled exposure to a GPU-cloud builder in an ordinary brokerage account: no margin agreement, no options chain, no swap paperwork of your own.graniteshares.com

Worth knowing

  1. 01The 1.50% expense ratio sits well above the typical 2x single-stock fund, and rivals (NBIG, NEBX) chase the same daily NBIS target.leverageshares.comtradretfs.com
  2. 02The multiple resets daily, so results over longer stretches can drift far from 2x the stock's move, especially through choppy trading.graniteshares.com
  3. 03One AI infrastructure name, leveraged, launched in 2025: concentrated, volatile, and with a short record to judge it by. No distributions.

NBIL Holdings

As of Sep 21, 2026, 4:07 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
NBIS SWAP66.7%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—NBIS SWAP66.66%1,835,474$400M1
002—US Dollars33.34%200,144,371$200M85

Showing 1–2 of 2 holdings

NBIL Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

NBIL$29,690
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. NBIL $29,690. SPY $11,430. Use the arrow keys to read each point.$4,250$38,472$72,694Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for NBIL. Periods over one year show the average yearly return.
PeriodNBIL
Year to date+196.9%
1 month+11.0%
3 months−56.3%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for NBIL
YearReturn barNBIL
2026 YTD+196.9%
2025−59.2%

Since listing, Oct 7, 2025

NBIL in the news

ETF.net Research hasn’t filed on NBIL yet — coverage lands here as it’s written.

NBIL Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Oct 2025. No distributions yet.

NBIL Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Oct 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Oct 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Oct 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
7.83
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

NBIL Cost

Expense ratio1.50%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

275 of the 329 Single-Stock Long Leveraged funds charge less.

NBIL costs $150.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.