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Launched

GraniteShares 2x Long QCOM Daily ETF

QCMLNasdaqCThis 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.

$16.71+0.44 (+2.69%)

At close: Oct 13, 2026, 4:00 PM

C41/ 100

Rank 125 of 380 in Single-Stock Long Leveraged

C41/100Rank 125 of 380inSingle-Stock Long Leveraged
Intraday session: up, 79 prints from 16.27 to 16.71. Range 16.19 to 17.42. Use the arrow keys to read each point.16.5017.0017.2510 AM12 PM2 PM4 PM
Expense ratio
7.39%
Fund size
$58M
1Y total return
−8.8%
Yield · Last 12 months
—
Holdings
2
Avg volume · 30D
1.7M sh
NAV per share
$16.28
52W range
low $10.46high $41.90
Launched

The ETF.net QCML Grade

Based on 5 of 6 pillars

C

Score 41 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
125 of 380
Six-pillar profile for QCML. Scores out of 100: Cost 0, Risk 60, Mission 77, Tradability 93, Holdings not scored, Durability 76. Strongest: Tradability (93). Weakest: Cost (0). Based on 5 of 6 pillars.

Score 41 of 100 falls in the C 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.
    F0 out of 100
    Rank 377 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A77 out of 100
    Rank 132 of 148

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B60 out of 100
    Rank 113 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A93 out of 100
    Rank 11 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.
    A76 out of 100
    Rank 34 of 380

Our read on QCML

ETF.net Research

CTwice Qualcomm's daily move, in a plain brokerage account. GraniteShares built QCML for traders who want geared exposure to the smartphone-chip and licensing giant one session at a time, and it charges up for the privilege.

Stated mandate

The fund seeks daily investment results equal to twice the daily percentage change of Qualcomm Inc.'s common stock, before fees and expenses.

Why people hold it

  1. 01A clean mandate: 2x QCOM's daily percentage change, before fees, reset each session. No options chain to run, no margin account, no margin call.graniteshares.com
  2. 02Small fund, busy tape. It changes hands actively, so traders generally aren't fighting the spread to get a position on or off.
  3. 03It has hewed close to its stated 2x daily target, which is the entire job description for a geared single-stock fund.

Worth knowing

  1. 01The 7.39% expense ratio is several times what most 2x single-stock ETFs charge; cohort leaders like GGLL and AAPU sit under 1%.
  2. 02Daily reset math: hold through a choppy multi-day stretch and results can drift well away from 2x QCOM's move over that stretch, either direction.
  3. 03One stock, doubled. An earnings surprise or a patent-licensing headline lands twice as hard, and with a 2025 launch the track record is short.

QCML Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
QCOM66.7%

Sectors

  • Technology100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001QCOMQcom66.66%665,787$116M522
002—US Dollars33.34%58,072,700$58M85

Showing 1–2 of 2 holdings

QCML Performance

Launched Feb 13, 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.
QCML$9,121
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. QCML $9,121. SPY $12,044. Use the arrow keys to read each point.$4,795$13,924$23,053Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

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.

Trailing total return for QCML. Periods over one year show the average yearly return.
PeriodQCML
Year to date−23.6%
1 month−11.1%
3 months−20.7%
1 year−8.8%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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 QCML
YearReturn barQCML
2026 YTD−23.6%
2025−16.7%

Since listing, Feb 13, 2025

QCML in the news

Filtered to QCML · Single-Stock Long Leveraged

QCML Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

QCML 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.
119.3%
Annualised · 19 months to Sep 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.
0.38
vs 3-month T-bills · 19 months to Sep 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.
−68.8%
19 months · trough Jul 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.
6.12
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.

QCML Cost

Expense ratio7.39%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

331 of the 333 Single-Stock Long Leveraged funds charge less.

QCML costs $739.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.

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