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FBL vs OKTG

GraniteShares 2x Long META Daily ETF

FBLBNasdaq

Leverage Shares 2x Long OKTA Daily ETF

OKTGANasdaq

Overlap

Expense ratio

OKTG −0.30pt a year

FBL1.05%OKTG0.75%

Avg volume · 30D

FBL 28.7×the volume

FBL1.08MOKTG37.8K

FBL vs OKTG Performance

Dec 31, 2025 – Nov 9, 2026

−25.6%FBL+144.2%OKTG

Dec 31, 2025 to Nov 9, 2026. FBL −25.6%. OKTG +144.2%. Use the arrow keys to read each point.200%300%Dec 2025Jun 2026Nov 2026
Expense ratio
FBL 1.05%
OKTG 0.75%, better
Fund size
FBL $140M
OKTG $5M
1Y total return
FBL −18.0%
OKTG No data
Yield (12M)
FBL 2.79%
OKTG No data
Holdings
FBL 2
OKTG 6
Avg volume (30D)
FBL 1.08M sh, better
OKTG 37.8K sh
NAV per share
FBL $21.92
OKTG $34.20
52W range

ETF.net Grade

FBL: Cost 44, Risk 55, Mission 98, Tradability 95, Holdings not scored, Durability 83. OKTG: Cost 70, Risk 78, Mission 95, Tradability 69, Holdings not scored, Durability 50.
Pillar letters and Scores for FBL, OKTG, with each pillar’s weight
PillarFBLOKTG
Cost30% weightC44A70Higher
Mission25% weightA98HigherA95
Risk15% weightB55A78Higher
Tradability15% weightA95HigherB69
Holdings10% weightNot scoredNot scored
Durability5% weightA83HigherC50

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. FBL and OKTG are both graded against the same 312 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 312 funds
See all 312 ›

OKTG ranks 3rd and FBL 34th of 312 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1AUNHGLeverage Shares 2x Long UNH Daily ETFScore 74
  2. Rank 2ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  3. Rank 3ACOTGLeverage Shares 2X Long COST Daily ETFScore 70
  4. Rank 3AOKTGLeverage Shares 2x Long OKTA Daily ETFScore 70
  5. Rank 3APANGLeverage Shares 2x Long PANW Daily ETFScore 70
  6. Rank 34BCRWGLeverage Shares 2x Long CRWV Daily ETFScore 61
  7. Rank 34BFBLGraniteShares 2x Long META Daily ETFScore 61
  8. Rank 34BHOOGLeverage Shares 2x Long HOOD Daily ETFScore 61

Our read on each fund

ETF.net Research

FBLBGraniteShares 2x Long META Daily ETF

OKTGALeverage Shares 2x Long OKTA Daily ETF

In short

FBL Two US ETFs offer 2x daily Meta exposure, and FBL has been doing it since 2022. One stock, one lever, reset every day: it aims for twice Meta's daily move before fees, and nothing else.

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

FBL The Fund seeks daily investment results equal to twice the daily percentage change of Meta Platforms Inc. before fees and expenses.

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

  • FBL Does exactly the job on the label: twice Meta's daily percentage change, before fees. It has held that target tightly, one of the stronger implementations in its peer group.graniteshares.com
  • Only two US ETFs offer 2x daily Meta exposure. FBL is one of them, and it has been trading since December 2022, through several Meta earnings cycles.
  • Actively traded, and one of the easier funds in this corner of the market to get in and out of when Meta is the story of the day.
  • 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

  • FBL Fees run 1.09% a year, above the typical leveraged single-stock fund and above METU, the other 2x Meta ETF, at 1.02%.
  • The 2x target resets daily. Hold longer and returns compound; a choppy stretch can leave you well away from twice Meta's move over that period.graniteshares.com
  • One company, doubled. Meta headline risk is the entire portfolio, amplified, with no diversification to cushion it.
  • 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 FBL profile⁠

Full OKTG profile⁠

FBL vs 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.

FBL vs OKTG Cost

Overpaying FBL vs OKTG

$5,013

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

  • FBL 1.05%

    $19,495

  • OKTG 0.75%

    $14,482

$10,000
30 years

Cost over time

  • FBL 1.05%
  • 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$20K051015202530FBL $19,495OKTG $14,482

Year by year

YearFBLOKTGOverpaying
10$1,847$1,336$511
20$6,927$5,078$1,849
30$19,495$14,482$5,013

Expense ratio

  • 1.05%FBL
  • 0.75%OKTG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

OKTG 87th cheapest of 312 funds

FBL 201st cheapest of 312 funds

FBL vs OKTG Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
FBL 2.79%
OKTG No data
Payout (12M)
FBL $0.67
OKTG None
Last payment
FBL $0.67
OKTG No data
Ex-dividend
FBL Dec 29, 2025
OKTG No data
Paid on
FBL Dec 31, 2025
OKTG No data
Frequency
FBL Irregular
OKTG No data

Distribution history

Per share, 2023 to 2026, same scale for both

FBLIrregular · 2 paymentsAll FBL payments⁠
One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 27, 2023 $8.00; Dec 29, 2025 $0.67. Use the arrow keys to read each point.$0$520232026YTD
OKTGAll OKTG payments⁠

No distribution history available.

FBL vs OKTG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FBL 73.3%OKTG No data
Return per unit of riskSharpe ratio, 3 years
FBL 0.55OKTG No data
Worst fallMax drawdown, 5 years
FBL −63.2%since Dec 2022OKTG No data
Market sensitivityBeta, 5 years
FBL 2.70OKTG 2.39

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