GraniteShares 2x Long META Daily ETF

Frequently Asked Questions About FBL

What does FBL invest in?

This ETF aims to deliver, before any fees or expenses, a daily investment performance that is double (200%) the daily percentage change of Meta Platforms Inc.'s (NASDAQ: META) common stock. However, there is no assurance that the Fund will consistently achieve this stated goal. Furthermore, for durations exceeding a single day, the fund is not expected to match two times the cumulative return of META.

What is the expense ratio of FBL?

GraniteShares 2x Long META Daily ETF (FBL) charges an expense ratio of 1.09%. This is the annual fee deducted from fund assets to cover management and operations.

Is FBL a good long-term hold?

FBL is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does FBL's daily reset work?

FBL rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is FBL?

GraniteShares 2x Long META Daily ETF (FBL) manages $210.8M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is FBL actively managed or an index fund?

FBL's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.