Data as of .
NBIL vs NBIZ: which held to its multiple?
Over three months against its own daily promise, NBIL finished 2.3 points short and NBIZ 0.2 points over.
ETFIQ Decay Resistance Score: NBIL scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| NBIL | NBIZ | NBIL | NBIZ | NBIL | NBIZ | |
| 1 month | −29.6% | +13.0% | −26.7% | +26.7% | −2.9 pts | −13.8 pts |
| 3 months | −41.8% | −81.2% | −6.7% | +6.7% | −35.0 pts | −87.9 pts |
| 6 months | +86.6% | −98.2% | +197.6% | −197.6% | −111.0 pts | +99.4 pts |
| Since launch | +10.8% | −99.2% | +181.6% | not meaningful | −170.8 pts | not meaningful |
| NBIL GraniteShares 2x Long NBIS Daily ETF Aims to return twice the daily move of NBIS | NBIZ Tradr 2X Short NBIS Daily ETF Aims to return twice the opposite of the daily move of NBIS | |
|---|---|---|
| Issuer | GraniteShares | Tradr |
| Sets out to return | +2x | -2x |
| On | NBIS | NBIS |
| Segment | company | company |
| Fund returned, 3 months | −41.8% | −81.2% |
| Underlying returned, 3 months | −3.4% | −3.4% |
| What the stated multiple implies, 3 months | −6.7% | +6.7% |
| Difference from stated, 3 months | −35.0 pts | −87.9 pts |
| Fund returned, 1 year or since launch | +10.8% | −99.2% |
| Difference from stated, over that window | −170.8 pts | not available |
| Underlying volatility | 140% | 140% |
| Difference over the days both have traded | −2.9 pts | no shared window |
| Expense ratio | 1.50% | 1.49% |
| Launched | Oct 7, 2025 | Jan 22, 2026 |
NBIL in plain words
Three months to Sep 11, 2026: NBIL returned −41.8% where its own daily promise gave −39.5%, 2.3 points short. Read the multiple against the whole window instead and +2 times NBIS's −3.4% implies −6.7%, which makes NBIL look 35.0 points short. 32.8 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. NBIL aims to return +2 times NBIS's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. NBIS moved at 140% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
NBIZ in plain words
Three months to Sep 11, 2026: NBIZ returned −81.2% where its own daily promise gave −81.4%, 0.2 points over. Read the multiple against the whole window instead and −2 times NBIS's −3.4% implies +6.7%, which makes NBIZ look 87.9 points short. 88.1 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. NBIZ aims to return -2 times NBIS's move each day, then resets. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, NBIL or NBIZ?
- Over the window to Sep 11, 2026, NBIL finished 35.0 points from what its multiple implies and NBIZ finished 87.9 points from its own, so NBIL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are NBIL and NBIZ levered on the same thing?
- Yes. Both are levered on NBIS, NBIL at +2 times and NBIZ at -2 times the daily move.
- Which one decays faster, NBIL or NBIZ?
- Decay follows how much the underlying moves about. Over this window NBIL’s moved at 140% annualized and NBIZ’s at 140%, so NBIL has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold NBIL or NBIZ for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, NBIL or NBIZ?
- NBIL charges 1.50% a year and NBIZ charges 1.49%, so NBIZ is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, NBIL against NBIZ, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/NBIL-NBIZ Free to use with attribution; the underlying files are at Open data.