FBL +2x GraniteShares ETF Trust GraniteShares 2x Long META Daily ETF

FBL

ETF +2x BULL standard
GraniteShares ETF Trust GraniteShares 2x Long META Daily ETF
Issuer: GraniteShares · Tracks: META · Listed: 2022-12-12
Implied AUM
$212.2M
Last Close
$26.90
20260720
30d Avg Vol
1,405,895
Options
available
Realized return vs theoretical +2x META
Other leveraged products tracking META
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
METU +2x BULL Direxion Direxion Shares ETF Trust Direxion Daily META Bull 2X ETF $470.9M 5,998,007
METG +2x BULL Leverage Shares Leverage Shares 2X Long META Daily ETF $256950 3,755

How FBL works

FBL targets +2x the daily return of META — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on FBL carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.