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Launched

GraniteShares 2x Long PDD Daily ETF

PDDLNasdaqGraniteSharesDThis 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.

$11.51+0.83 (+7.80%)

At close: Nov 2, 2026, 4:00 PM ET

D31/ 100

Rank 317 of 380 in Single-Stock Long Leveraged

D31/100Rank 317 of 380inSingle-Stock Long Leveraged
Intraday session: up, 79 prints from 10.68 to 11.51. Range 11.29 to 11.90. Use the arrow keys to read each point.11.0011.2511.7510 AM12 PM2 PM4 PM
Expense ratio
1.53%*
Fund size
$6M
1Y total return
−74.0%
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
28.8K sh
52W range
low $9.84high $43.67
Launched

*After a fee waiver that ends Dec 31, 2027. Without it: 2.11%.

The ETF.net PDDL Grade

Based on 5 of 6 pillars

D

Score 31 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
317 of 380
Six-pillar profile for PDDL. Scores out of 100: Cost 3, Risk 46, Mission 98, Tradability 64, Holdings not scored, Durability 63. Strongest: Mission (98). Weakest: Cost (3). Based on 5 of 6 pillars.

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.
    F3 out of 100
    Rank 366 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A98 out of 100
    Rank 12 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C46 out of 100
    Rank 195 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B64 out of 100
    Rank 108 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B63 out of 100
    Rank 109 of 380

Our read on PDDL

ETF.net Research

In short

DOne of the few US ETFs wired to twice the daily move of Temu parent PDD Holdings. A one-session trading tool, priced at 1.50% net of a waiver through December 31, 2026 (1.51% gross).

Stated mandate

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

  • Simple job, clearly stated: it aims for twice PDD's daily percentage change, before fees, from a normal brokerage ticket. No margin account, no options chain.graniteshares.com
  • Day to day it has tracked its stated 2x objective closely, which is the part of the job a daily-reset fund lives on.
  • GraniteShares has been running leveraged single-stock ETFs since 2022, including 2x funds on Nvidia and Tesla, so the plumbing here is a worn path.nasdaq.comglobenewswire.com

Worth knowing

  • The 2x target resets daily. Hold past a session and compounding can push results well away from 2x the stock's move over that stretch, especially in choppy tape.graniteshares.com
  • At 1.50% net of a waiver through December 31, 2026 (1.51% gross) it runs above the category median, and KPDD charges 1.26% for the same 2x PDD exposure.
  • A small fund that trades lightly next to the category's giants, so spreads and order type matter more here than with the household-name leveraged tickers.

PDDL Performance

Launched Jul 15, 2025

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$2,601
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. PDDL $2,601. SPY $11,199. Use the arrow keys to read each point.$2,500$5,000$7,500$10,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 PDDL. Periods over one year show the average yearly return.
PeriodPDDL
Year to date−62.1%
1 month−0.4%
3 months−26.5%
1 year−74.0%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 PDDL
YearReturn barPDDL
2026 YTD−62.1%
2025+7.4%

Since listing, Jul 15, 2025

PDDL in the news

PDDL Dividends

Last payment
$0.09 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 29, 2025 $0.09. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 29, 2025Dec 31, 2025$0.09

$10,000 in PDDL 1 year ago paid $22.82 in dividends.

PDDL Risk

Risk pillarC46 out of 100Rank 195 of 368 in Single-Stock Long Leveraged

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.
59.8%
Annualised · 15 months to Oct 2026
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.
−1.12
vs 3-month T-bills · 15 months to Oct 2026
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.
−76.7%
15 months · trough Oct 2026
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.
0.08
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.

FMP measures it over up to five years of monthly returns.

PDDL Cost

Compare PDDL and GOGL

Overpaying vs GOGL, tied cheapest in Single-Stock Long Leveraged

$22,551

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PDDL 1.53%

    $26,706

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • PDDL 1.53%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530PDDL $26,706GOGL $4,155

Year by year

YearPDDLGOGLOverpaying
10$2,639$365$2,274
20$9,685$1,421$8,264
30$26,706$4,155$22,551
How the 1.53% is worked out

Full fee 2.11%− waiver 0.58%= you pay 1.53%

The waiver ends Dec 31, 2027. After that the fee is 2.11% unless GraniteShares renews it. Source: prospectus, Oct 2026.

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