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BABX vs OKTG

GraniteShares 2x Long BABA Daily ETF

BABXCNasdaq

Leverage Shares 2x Long OKTA Daily ETF

OKTGANasdaq

Overlap

0.0%by weight

Expense ratio

OKTG −0.34pt a year

BABX1.09%OKTG0.75%

Avg volume · 30D

BABX 21.3×the volume

BABX821KOKTG38.5K

BABX vs OKTG Performance

Dec 31, 2025 – Nov 2, 2026

−60.6%BABX+170.5%OKTG

Dec 31, 2025 to Nov 2, 2026. BABX −60.6%. OKTG +170.5%. Use the arrow keys to read each point.0%100%300%Dec 2025Jun 2026Nov 2026
Expense ratio
BABX 1.09%
OKTG 0.75%, better
Fund size
BABX $91M
OKTG $8M
1Y total return
BABX −71.7%
OKTG No data
Holdings
BABX 2
OKTG 6
Avg volume (30D)
BABX 821K sh, better
OKTG 38.5K sh
NAV per share
BABX $13.27
OKTG $53.95
52W range

ETF.net Grade

BABX: Cost 39, Risk 34, Mission 96, Tradability 89, Holdings not scored, Durability 82. OKTG: Cost 70, Risk 76, Mission 94, Tradability 73, Holdings not scored, Durability 51.
Pillar letters and Scores for BABX, OKTG, with each pillar’s weight
PillarBABXOKTG
Cost30% weightD39A70Higher
Mission25% weightA96HigherA94
Risk15% weightD34A76Higher
Tradability15% weightA89HigherA73
Holdings10% weightNot scoredNot scored
Durability5% weightA82HigherC51

Rank among Single-Stock Long Leveraged funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BABX and OKTG are both graded against the same 315 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 315 funds
See all 315 ›

OKTG ranks 3rd and BABX 78th of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 3AOKTGLeverage Shares 2x Long OKTA Daily ETFScore 70
  4. Rank 3APANGLeverage Shares 2x Long PANW Daily ETFScore 70
  5. Rank 76CUUUGLeverage Shares 2x Long UUUU Daily ETFScore 53
  6. Rank 78CBABXGraniteShares 2x Long BABA Daily ETFScore 52
  7. Rank 78CBTCUDirexion Daily Bitcoin Bull 2X ETFScore 52

Our read on each fund

ETF.net Research

BABXCGraniteShares 2x Long BABA Daily ETF

OKTGALeverage Shares 2x Long OKTA Daily ETF

In short

BABX The original 2x Alibaba ETF: live since 2022, years before its rivals. It aims for twice BABA's daily move, resets every night, and costs 1.15% net of a waiver through December 31, 2026.

OKTG A 2x daily amplifier on Okta, the identity-security stock, in an ETF wrapper. Leverage Shares prices it at 0.75%, under the typical leveraged single-stock fund, in a corner of the market built mostly around mega-caps.

Stated mandate

BABX The Fund seeks daily investment results equal to twice the daily percentage change of Alibaba Group Holding Limited’s common stock. It is intended as a short-term leveraged trading vehicle rather than a long-term investment.

OKTG The fund seeks daily leveraged investment results equal to 200% of the daily performance of the publicly traded common stock identified as OKTA, before fees and expenses.

Why people hold it

  • BABX Launched December 2022, it beat every rival 2x BABA fund to market by years, giving traders the longest-running option in this corner of the market.graniteshares.comkraneshares.comdirexion.com
  • Tracks its daily 2x target closely and trades actively with tight execution, one of the stronger builds in a crowded leveraged single-stock group.
  • Plain plumbing: swaps totaling 200% notional across counterparties, collateralized by T-bills and cash, rebalanced daily, with holdings published by the issuer.graniteshares.com
  • OKTG Costs 0.75% a year, below the roughly 1.01% median for leveraged single-stock funds, and matches the fee on Leverage Shares' other 2x products like UNHG and ASMG.
  • Mechanically simple: it aims for 200% of Okta's daily move before fees and expenses, no margin account, options chain or share borrow involved.leverageshares.com
  • Unusual target. Most 2x single-stock ETFs point at mega-caps such as AAPU and GGLL; this one puts the same machinery on a cybersecurity name.

Worth knowing

  • BABX Costs more than the two other 2x BABA funds: BABU at 0.97% net of a waiver through September 1, 2027 and KBAB at 0.99% net of a waiver through August 1, 2028.
  • The daily reset means returns over longer stretches can drift far from 2x BABA. GraniteShares calls it a short-term trading vehicle, not a buy-and-hold holding.graniteshares.com
  • The mandate was 1.75x before January 22, 2024, so the earliest stretch of its history reflects a different leverage level than today's.graniteshares.com
  • OKTG The leverage resets every day. Hold past that and returns compound, so a choppy stretch can leave you far from 2x Okta's move over the period.
  • One company, doubled. An earnings gap or a breach headline at Okta hits the fund at twice the size, with no other holdings to soften it.
  • Launched in November 2025 and still small and thinly traded, so spreads can run wider than on the long-established mega-cap leveraged funds.

Full BABX profile⁠

Full OKTG profile⁠

BABX vs OKTG Holdings

How BABX and OKTG differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of BABX and 0.0% of OKTG.

Level by level

  • Asset classLeveraged/Inverse, Equity0.0%
  • Countryby domicile0.0%
  • Holdings0 in both0.0%

Sector

No Sector split for OKTG.

Country, concentration and asset class

Country by domicile

Country weights in BABX and OKTG, widest gap first
CountryMore in BABXMore in OKTG
ChinaBABX +100.0 points
United StatesOKTG +100.0 points

Outside the US: BABX 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

  • BABX100.0%
  • OKTG207.4%

Securities held

  • BABX1
  • OKTG1

Asset class

BABX
Leveraged/Inverse
OKTG
Equity

Holdings

  • Only in BABX1
  • In both0
  • Only in OKTG1

Only in BABX

1 security, 66.7% of BABX by weight

  • Baba66.65%

Only in OKTG

1 security, 7.4% of OKTG by weight

  • First American Treasury Obligations Fund 01/01/20407.35%

Weight gaps

BABX and OKTG share no securities.

All 2 BABX holdings⁠All 6 OKTG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BABX vs OKTG Cost

Overpaying BABX vs OKTG

$5,651

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

  • BABX 1.09%

    $20,133

  • OKTG 0.75%

    $14,482

$10,000
30 years

Cost over time

  • BABX 1.09%
  • OKTG 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530BABX $20,133OKTG $14,482

Year by year

YearBABXOKTGOverpaying
10$1,915$1,336$579
20$7,166$5,078$2,088
30$20,133$14,482$5,651

Expense ratio

  • 1.09%BABX
  • 0.75%OKTG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

OKTG 87th cheapest of 315 funds

BABX 219th cheapest of 315 funds

BABX vs OKTG Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
BABX None
OKTG None

Distribution history

BABXAll BABX payments⁠

No distribution history available.

OKTGAll OKTG payments⁠

No distribution history available.

BABX vs OKTG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BABX 95.3%OKTG No data
Return per unit of riskSharpe ratio, 3 years
BABX 0.25OKTG No data
Worst fallMax drawdown, 5 years
BABX −79.2%since Dec 2022OKTG No data
Market sensitivityBeta, 5 years
BABX 1.02OKTG 2.39

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