Skip to content
etf.net

PDDL

GradeDNASDAQ Global Market

GraniteShares 2x Long PDD Daily ETF

Leveraged · Single-Stock Leveraged · GraniteShares · Inception 2025-07-15

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.

$11.11−0.37 (−3.26%)

As of Sep 23, 2026, 3:03 PM EDT

History starts Jul 15, 2025.
Intraday session: down, 26 prints from 11.48 to 11.11. Range 11.06 to 11.23. Use the arrow keys to read each point.$11.05$11.15$11.20$11.2510 AM12 PM2 PM4 PM
Expense ratio
1.51%
Fund size
$6M
1Y return
−69.7%
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$11.20
52W range
low $10.01high $43.73

The ETF.net PDDL Grade

D

32/ 100

Rank 253 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for PDDL. Scores out of 100: Cost 6, Risk 45, Mission 95, Tradability 63, Holdings not scored, Durability 62. Strongest: Mission (95). Weakest: Cost (6). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 32 of 100 sits in the D 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 6
    Category rank359/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 95
    Category rank48/147 · top 33%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 45
    Category rank160/285 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 63
    Category rank114/380 · top 30%

  • 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.
    BScore 62
    Category rank120/380 · top 32%

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

Our read on PDDL

ETF.net Research

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.

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

  1. 01Does 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
  2. 02Leveraged exposure inside an ordinary fund wrapper: no margin account, no borrow, no margin call, and losses limited to what you put in.graniteshares.com
  3. 03A 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

  1. 01At 1.51%, the fee runs above the leveraged single-stock norm and above KPDD's, for the same 2x daily PDD exposure.
  2. 02Held 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
  3. 03One 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

As of Sep 21, 2026, 4:07 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
PDD SWAP66.7%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—PDD SWAP66.67%160,720$12M1
002—US Dollars33.33%6,244,888$6M85

Showing 1–2 of 2 holdings

PDDL Performance

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

PDDL$3,027
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. PDDL $3,027. SPY $11,723. Use the arrow keys to read each point.$1,991$7,238$12,485Sep 2025Mar 2026Sep 2026

Sep 22, 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 PDDL. Periods over one year show the average yearly return.
PeriodPDDL
Year to date−59.2%
1 month−18.8%
3 months−2.2%
1 year−69.7%
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 PDDL
YearReturn barPDDL
2026 YTD−59.2%
2025+7.4%

Since listing, Jul 15, 2025

PDDL in the news

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

PDDL 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
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

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.

How much the fund’s monthly returns vary, scaled to a year.
63.4%
Annualised · 13 months to Aug 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.
−0.97
vs 3-month T-bills · 13 months to Aug 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.
−76.1%
14 months · trough Jun 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.

PDDL Cost

Expense ratio1.51%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

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

PDDL costs $151.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.