PDDL +2x GraniteShares 2x Long PDD Daily ETF

PDDL

ETF +2x BULL standard
GraniteShares 2x Long PDD Daily ETF
Issuer: GraniteShares · Tracks: PDD · Listed: 2025-07-14
Implied AUM
$10.5M
Last Close
$13.86
20260720
30d Avg Vol
34,759
Options
—
Realized return vs theoretical +2x PDD
Other leveraged products tracking PDD
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
KPDD +2x BULL KraneShares KraneShares 2x Long PDD Daily ETF $21.2M 242,667

How PDDL works

PDDL targets +2x the daily return of PDD — 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 PDDL 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.