# NOWL (GraniteShares 2x Long NOW Daily ETF)

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

Three months to Sep 11, 2026: NOWL returned +47.8% where its own daily promise gave +54.2%, 6.4 points short.

## Key facts

- NOWL, what NOW did: +29.7%, as of Sep 11, 2026.
- NOWL, what +2 times a day gives: +54.2%, as of Sep 11, 2026.
- NOWL, what the fund returned: +47.8%, as of Sep 11, 2026.
- NOWL, the fund itself cost: −6.4 pts, as of Sep 11, 2026.
- NOWL, net assets: $286m (source, as filed for Jun 30, 2026).
- NOWL, expense ratio: 1.50% (485BPOS XBRL, Oct 24, 2025).

## NOWL over each window to Sep 11, 2026

| Window | Fund | NOW | +2x the move | Difference | NOW moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +7.5% | +6.1% | +12.1% | −4.6 pts | 62% |
| 3 months | +47.8% | +29.7% | +59.5% | −11.7 pts | 61% |
| 6 months | −2.0% | +16.6% | +33.3% | −35.3 pts | 69% |
| 1 year | −69.7% | −29.4% | −58.8% | −10.9 pts | 57% |
| Since launch | −71.8% | −30.8% | −61.5% | −10.3 pts | 54% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of NOW, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.61 times, against +2 stated | ETFIQ |
| Underlying | NOW | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $286m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.50% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Jul 15, 2025 | ETFIQ |
| Underlying volatility over the window | 61% annualized | ETFIQ |

## Questions

### Did NOWL return +2 times NOW?

Over the window to Sep 11, 2026, NOW moved +29.7% and NOWL returned +47.8%. 2 times that move is +59.5%, so the fund came out 11.7 points short of it.

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

Because it resets daily. NOWL 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 NOW ETF tracked its stated multiple most closely?

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

HTML: https://etfiq.com/funds/NOWL  ·  JSON: https://etfiq.com/funds/NOWL.json