Which came closer to its stated multiple, NBIL or NEBX?

Over the window to Sep 30, 2026, NBIL finished 35.8 points from what its multiple implies and NEBX finished 36.1 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 NEBX levered on the same thing?

Yes. Both are levered on Nebius, NBIL at +2 times and NEBX at +2 times the daily move.

Which one decays faster, NBIL or NEBX?

Decay follows how much the underlying moves about. Over this window NBIL’s moved at 131% annualized and NEBX’s at 131%, so NBIL has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold NBIL or NEBX 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 NEBX?

NBIL charges 1.50% a year and NEBX charges 1.30%, so NEBX is cheaper. Fees come from each fund's prospectus.

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NBIL vs NEBX: which held to its multiple?

Over the days both have traded, NBIL finished 4.0 points from its stated multiple and NEBX 4.0. GraniteShares 2x Long NBIS Daily ETF and Tradr 2X Long NBIS Daily ETF.

−30.0%

NBIL returned, 3 months

−30.2%

NEBX returned, 3 months

−35.8 pts

NBIL from its stated multiple

−36.1 pts

NEBX from its stated multiple

NBIL · 3 months to Sep 30, 202635.8 pts short of its stated multiple

NBIL returned −30.0% while 2 times NBIS's move would have been +5.8%

NEBX · 3 months to Sep 30, 202636.1 pts short of its stated multiple

NEBX returned −30.2% while 2 times NBIS's move would have been +5.8%

ETFIQ Decay Resistance Score · NBIL scores higherDid it keep up with its own daily multiple, compounded day by day?

NBIL 43.6

NEBX 37.4

0.1, the lowest in this set99.9, the highest

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	NBIL	NEBX	NBIL	NEBX	NBIL	NEBX
1 month	+24.6%	+24.7%	+28.7%	+28.7%	−4.0 pts	−4.0 pts
3 months	−30.0%	−30.2%	+5.8%	+5.8%	−35.8 pts	−36.1 pts
6 months	+164.8%	+162.7%	not meaningful	not meaningful	not meaningful	not meaningful
1 year	not published	+27.0%	not published	not meaningful	not published	not meaningful
Since launch NBIL Oct 2025 · NEBX Sep 2025	+19.2%	+63.7%	not meaningful	not meaningful	not meaningful	not meaningful

NBIL and NEBX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

NBIL

GraniteShares 2x Long NBIS Daily ETF · Aims to return twice the daily move of Nebius (NBIS)

NEBX

Tradr 2X Long NBIS Daily ETF · Aims to return twice the daily move of Nebius (NBIS)

Issuer GraniteShares Tradr

Sets out to return +2x +2x

Underlying asset NBIS NBIS

Segment company company

Fund returned, 3 months or since launch −30.0% −30.2%

Underlying returned, over that window +2.9% +2.9%

What the stated multiple implies, over that window +5.8% +5.8%

Difference from stated, over that window −35.8 pts −36.1 pts

Fund returned, 1 year or since launch +19.2% +27.0%

Difference from stated, over that window not available not available

Underlying volatility 131% 131%

Difference over the days both have traded −4.0 pts −4.0 pts

Expense ratio 1.50% 1.30%

Launched Oct 7, 2025 Sep 9, 2025

Net assets $191m $182m

NBIL and NEBX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

NBIL in plain words

Three months to Sep 30, 2026: NBIL returned −30.0% where its own daily promise gave −27.1%, 2.9 points short. Read the multiple against the whole window instead and 2 times NBIS's 2.9% implies +5.8%, which makes NBIL look 35.8 points short. 32.9 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 131% 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.

NEBX in plain words

Three months to Sep 30, 2026: NEBX returned −30.2% where its own daily promise gave −27.1%, 3.1 points short. Read the multiple against the whole window instead and 2 times NBIS's 2.9% implies +5.8%, which makes NEBX look 36.1 points short. NEBX aims to return +2 times NBIS's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, NBIL or NEBX?: Over the window to Sep 30, 2026, NBIL finished 35.8 points from what its multiple implies and NEBX finished 36.1 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 NEBX levered on the same thing?: Yes. Both are levered on Nebius, NBIL at +2 times and NEBX at +2 times the daily move.
Which one decays faster, NBIL or NEBX?: Decay follows how much the underlying moves about. Over this window NBIL’s moved at 131% annualized and NEBX’s at 131%, so NBIL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold NBIL or NEBX 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 NEBX?: NBIL charges 1.50% a year and NEBX charges 1.30%, so NEBX is cheaper. Fees come from each fund's prospectus.

Other comparisons

NBIL vs NBIZ NBIL vs NBIC NBIL vs NBIG NEBX vs NBIC NEBX vs NBIG NEBX vs NBIZ

NBIL on its own →NEBX on its own →How every figure is computed →Standards and sources →

Where these figures came from

NBIL filings on SEC EDGAR ↗NBIL prospectus with the expense ratio (SEC) ↗GraniteShares page for NBIL ↗NEBX filings on SEC EDGAR ↗NEBX prospectus with the expense ratio (SEC) ↗Tradr website ↗

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.

Cite this page

ETFIQ, NBIL against NEBX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/nbil-vs-nebx

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.