Launch Roundup
Subversive ETFs listed S&P 500 and Nasdaq-100 funds that exclude Elon Musk's companies
GraniteShares 2x Long NOW Daily ETF
DThis 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.
$7.48−0.20 (−2.60%)
- 1.51%
- $195M
- −62.5%
- 13.2M sh
- $7.68
- low $3.49high $23.70
The ETF.net NOWL Grade
D
Score 39 out of 100
- 273 of 380
Score 39 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F6 out of 100Rank 358 of 380Mission
Whether the fund did what it promised, tested against its stated mandate.A98 out of 100Rank 15 of 148Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C40 out of 100Rank 233 of 363Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A93 out of 100Rank 11 of 380Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A77 out of 100Rank 27 of 380
Our read on NOWL
DOne ticker that aims for twice ServiceNow's daily move, no margin account or options chain required. GraniteShares launched it in 2025, and it has stuck close to that daily target while trading briskly.
The Fund seeks daily investment results, before fees and expenses, equal to twice the daily percentage change of ServiceNow, Inc.'s common stock.
Why people hold it
- Does one job clearly: seeks daily results equal to twice ServiceNow's daily percentage change, in a plain brokerage account, with no borrowing to arrange.graniteshares.com
- It hits what it aims at. Daily results have tracked the stated 2x target closely, which is the whole point of a fund like this.
- Very actively traded for a single-stock leveraged fund, so getting in and out tends to be cheap and easy rather than a hunt for a counterparty.
- Sits in the upper half of a crowded field of leveraged single-stock bull funds, one of the better-run implementations of this trade.
Worth knowing
- The 1.51% fee runs above the typical 2x single-stock fund. Leverage Shares charges 0.75% on UNHG and ASMG, Direxion 0.96% on AAPU and GGLL.
- The 2x target resets every day. Hold longer and returns compound off each close, so a choppy stretch can leave you well off double the stock's move.
- One company, doubled, with a record that only starts in 2025. Every ServiceNow headline arrives here at twice the size, in both directions.
NOWL Holdings
- Other
- 2
- 100%
- NOW
Geography
- United States100.00%
NOWL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
NOWL$3,748
Returns run to the Oct 12, 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.
| Period | NOWL |
|---|---|
| Year to date | −46.4% |
| 1 month | +9.4% |
| 3 months | +50.9% |
| 1 year | −62.5% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | NOWL |
|---|---|---|
| 2026 YTD | −46.4% | |
| 2025 | −42.6% |
NOWL in the news
NOWL Dividends
No distributions in the last 12 months.
NOWL 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.
- 134.1%
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.
- −0.25
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.
- −86.6%
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.
- 1.47
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
NOWL Cost
1.51%
NOWL1.51%
- The middle half of Single-Stock Long Leveraged funds
- Median 0.98%
310 of the 333 Single-Stock Long Leveraged funds charge less.
Other funds in Single-Stock Long Leveraged
- DHIMZDaily Target 2X Long HIMS ETFExpense ratio 1.33%1 year return −89.5%
- DIREDefiance Daily Target 2X Long IREN ETFExpense ratio 1.35%1 year return —
- DPULGraniteShares 2x Long P Daily ETFExpense ratio 1.50%1 year return —
- DSMCLGraniteShares ETF Trust - GraniteShares 2x Long SMCI Daily ETFExpense ratio 1.50%1 year return −84.4%
- DSOFXDaily Target 2X Long SOFI ETFExpense ratio 1.33%1 year return −80.6%