# BTDL (GraniteShares 2x Long BTDR Daily ETF)

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

One month to Sep 11, 2026: BTDL returned +60.5% where its own daily promise gave +64.6%, 4.1 points short.

## Key facts

- BTDL, what BTDR did: +32.6%, as of Sep 11, 2026.
- BTDL, what +2 times a day gives: +64.6%, as of Sep 11, 2026.
- BTDL, what the fund returned: +60.5%, as of Sep 11, 2026.
- BTDL, the fund itself cost: −4.1 pts, as of Sep 11, 2026.
- BTDL, expense ratio: 1.50% (485BPOS XBRL, May 26, 2026).
- BTDL, underlying: BTDR, as of Sep 11, 2026.

## BTDL over each window to Sep 11, 2026

| Window | Fund | BTDR | +2x the move | Difference | BTDR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +60.5% | +32.6% | +65.2% | −4.7 pts | 88% |
| Since launch | −31.1% | −3.2% | −6.5% | −24.7 pts | 120% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of BTDR, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.86 times, against +2 stated | ETFIQ |
| Underlying | BTDR | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Expense ratio | 1.50% | 485BPOS XBRL, May 26, 2026 |
| Launched | Jul 14, 2026 | ETFIQ |
| Underlying volatility over the window | 88% annualized | ETFIQ |

## Questions

### Did BTDL return +2 times BTDR?

Over the window to Sep 11, 2026, BTDR moved +32.6% and BTDL returned +60.5%. 2 times that move is +65.2%, so the fund came out 4.7 points short of it.

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

Because it resets daily. BTDL 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.


## Cite this page

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

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