FBL vs METU: which held to its multiple?
Over the days both have traded, FBL finished 1.9 points from its stated multiple and METU 2.0. GraniteShares 2x Long META Daily ETF and Direxion Daily META Bull 2X ETF.
FBL returned +29.1% while 2 times META's move would have been +36.8%
METU returned +29.3% while 2 times META's move would have been +36.8%
A percentile among the 470 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
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | FBL | METU | FBL | METU | FBL | METU |
| 1 month | +55.5% | +55.6% | +53.6% | +53.6% | +1.9 pts | +2.0 pts |
| 3 months | +29.1% | +29.3% | +36.8% | +36.8% | −7.7 pts | −7.5 pts |
| 6 months | +35.2% | +35.0% | +50.8% | +50.8% | −15.6 pts | −15.8 pts |
| 1 year | −25.3% | −26.0% | −1.9% | −1.9% | −23.4 pts | −24.2 pts |
| 3 years | +159.8% | not published | not meaningful | not published | not meaningful | not published |
| Since launch FBL Dec 2022 · METU Jun 2024 | +811.7% | +20.9% | not meaningful | +95.4% | not meaningful | −74.5 pts |
FBL and METU over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
FBL and METU on the same fields, as of Sep 30, 2026. Source: ETFIQ.
FBL in plain words
Three months to Sep 30, 2026: FBL returned +29.1% where its own daily promise gave +32.2%, 3.1 points short. Read the multiple against the whole window instead and 2 times META's 18.4% implies +36.8%, which makes FBL look 7.7 points short. 4.6 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. FBL aims to return +2 times META'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. META moved at 49% 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.
METU in plain words
Three months to Sep 30, 2026: METU returned +29.3% where its own daily promise gave +32.2%, 3.0 points short. Read the multiple against the whole window instead and 2 times META's 18.4% implies +36.8%, which makes METU look 7.5 points short. METU aims to return +2 times META's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, FBL or METU?
- Over the window to Sep 30, 2026, FBL finished 7.7 points from what its multiple implies and METU finished 7.5 points from its own, so METU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are FBL and METU levered on the same thing?
- Yes. Both are levered on Meta Platforms, FBL at +2 times and METU at +2 times the daily move.
- Which one decays faster, FBL or METU?
- Decay follows how much the underlying moves about. Over this window FBL’s moved at 49% annualized and METU’s at 49%, so FBL has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold FBL or METU 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.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, FBL against METU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/fbl-vs-metu
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, FBL against METU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/fbl-vs-metu Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, FBL against METU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/fbl-vs-metu
- APA
- ETFIQ. (Sep 30, 2026). FBL against METU. Retrieved from https://etfiq.com/compare/leverage/fbl-vs-metu
- Markdown
- [FBL against METU (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/fbl-vs-metu)