GraniteShares 2x Long IONQ Daily ETF

Frequently Asked Questions About IONL

What does IONL invest in?

The primary objective of this fund is to deliver daily investment results that are two times (200%) the daily percentage change of IonQ Inc.'s common stock (NASDAQ: IONQ), before factoring in fees and expenses. It is important to note that meeting this specific daily objective is not guaranteed. Furthermore, due to the nature of daily leverage and compounding, this fund should not be expected to replicate two times the cumulative return of IONQ over periods exceeding a single day.

What is the expense ratio of IONL?

GraniteShares 2x Long IONQ Daily ETF (IONL) charges an expense ratio of 3.63%. This is the annual fee deducted from fund assets to cover management and operations.

Is IONL a good long-term hold?

IONL 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 with 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 IONL's daily reset work?

IONL 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 IONL?

GraniteShares 2x Long IONQ Daily ETF (IONL) manages $59.9M 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 IONL actively managed or an index fund?

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