Launch Roundup
Subversive ETFs listed S&P 500 and Nasdaq-100 funds that exclude Elon Musk's companies
GraniteShares 2x Long PDD 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.
$11.77+0.31 (+2.72%)
- 1.51%
- $7M
- −67.4%
- 0M sh
- $11.47
- low $9.84high $43.73
The ETF.net PDDL Grade
D
Score 31 out of 100
- 314 of 380
Score 31 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.A96 out of 100Rank 34 of 148Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C41 out of 100Rank 228 of 363Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B63 out of 100Rank 108 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.B62 out of 100Rank 116 of 380
Our read on PDDL
DTwo times the daily move in PDD Holdings, the Nasdaq-listed commerce group, in one ticker. The leverage resets every session, so this is a trading tool built for days, not a buy-and-hold position.
The Fund seeks daily investment results, before fees and expenses, equal to twice the daily percentage change in PDD Holdings Inc.'s common stock.
Why people hold it
- Does the job on the tin: 2x PDD's daily percentage change, before fees. Its day-to-day tracking of that target is among the tightest in the leveraged single-stock field.graniteshares.com
- Leveraged exposure inside an ordinary fund wrapper: no margin account, no borrow, no margin call, and losses limited to what you put in.graniteshares.com
- A rare target. Most of the 200-plus bull single-stock leveraged ETFs chase US megacaps; only one other fund, KPDD, offers 2x daily PDD.
Worth knowing
- At 1.51%, the fee runs above the leveraged single-stock norm and above KPDD's, for the same 2x daily PDD exposure.
- Held longer than a day, results drift from 2x PDD's move. Choppy stretches can erode value even if the stock ends where it started.graniteshares.com
- One stock, doubled: earnings gaps hit twice as hard with no diversification to cushion them. Launched in 2025, so the track record is short.
PDDL Holdings
- Other
- 2
- 100%
- PDD
Geography
- Ireland100.00%
Developed 100% · Emerging 0%
PDDL 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.
PDDL$3,264
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 | PDDL |
|---|---|
| Year to date | −59.3% |
| 1 month | +5.7% |
| 3 months | −16.1% |
| 1 year | −67.4% |
| 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 | PDDL |
|---|---|---|
| 2026 YTD | −59.3% | |
| 2025 | +7.4% |
PDDL in the news
PDDL Dividends
- $0.09 per share
- Irregular
Distribution data unavailable.
Distribution history
PDDL 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.
- 61.8%
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.
- −1.15
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.
- −76.7%
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.
- 0.08
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PDDL Cost
1.51%
PDDL1.51%
- 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
- DLITUETF Opportunities Trust - T-REX 2X Long LITE Daily Target ETFExpense ratio 1.50%1 year return —
- DLMTLDirexion Shares ETF Trust - Direxion Daily LMT Bull 2X ETFExpense ratio 2.47%1 year return −10.0%
- DIONLGraniteShares 2x Long IONQ Daily ETFExpense ratio 3.63%1 year return −90.5%
- DKEEXDefiance Daily Target 2X Long BITF ETFExpense ratio 1.35%1 year return —
- DQSUDaily Target 2X Long QS ETFExpense ratio 1.32%1 year return —