# AAPB (GraniteShares 2x Long AAPL Daily ETF)

GraniteShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: AAPB returned +25.0% where its own daily promise gave +27.2%, 2.2 points short.

## Key facts

- AAPB, what AAPL did: +14.2%, as of Sep 11, 2026.
- AAPB, what +2 times a day gives: +27.2%, as of Sep 11, 2026.
- AAPB, what the fund returned: +25.0%, as of Sep 11, 2026.
- AAPB, the fund itself cost: −2.2 pts, as of Sep 11, 2026.
- AAPB, net assets: $18m (source, as filed for Jun 30, 2026).
- AAPB, expense ratio: 1.15% (485BPOS XBRL, Oct 24, 2025).

## AAPB over each window to Sep 11, 2026

| Window | Fund | AAPL | +2x the move | Difference | AAPL moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +20.0% | +9.9% | +19.9% | +0.1 pts | 23% |
| 3 months | +25.0% | +14.2% | +28.5% | −3.5 pts | 32% |
| 6 months | +64.4% | +33.1% | +66.2% | −1.7 pts | 28% |
| 1 year | +83.7% | +45.0% | +90.0% | −6.2 pts | 25% |
| 3 years | +121.8% | +91.0% | +182.0% | −60.2 pts | 27% |
| Since launch | +115.3% | +105.4% | not meaningful over this window | not meaningful over this window | 27% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of AAPL, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.75 times, against +2 stated | ETFIQ |
| Underlying | AAPL | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $18m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.15% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Aug 9, 2022 | ETFIQ |
| Underlying volatility over the window | 32% annualized | ETFIQ |

## Questions

### Did AAPB return +2 times AAPL?

Over the window to Sep 11, 2026, AAPL moved +14.2% and AAPB returned +25.0%. 2 times that move is +28.5%, so the fund came out 3.5 points short of it.

### Why does AAPB not return +2 times over a year?

Because it resets daily. AAPB aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which +2x AAPL ETF tracked its stated multiple most closely?

5 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic.


## Cite this page

ETFIQ, AAPB, data as of Sep 11, 2026. https://etfiq.com/funds/AAPB
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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