# PDDL (GraniteShares 2x Long PDD Daily ETF)

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

Three months to Sep 11, 2026: PDDL returned −15.7% where its own daily promise gave −11.4%, 4.3 points short.

## Key facts

- PDDL, what PDD did: −4.6%, as of Sep 11, 2026.
- PDDL, what +2 times a day gives: −11.4%, as of Sep 11, 2026.
- PDDL, what the fund returned: −15.7%, as of Sep 11, 2026.
- PDDL, the fund itself cost: −4.3 pts, as of Sep 11, 2026.
- PDDL, net assets: $8m (source, as filed for Jun 30, 2026).
- PDDL, expense ratio: 1.50% (485BPOS XBRL, Oct 24, 2025).

## PDDL over each window to Sep 11, 2026

| Window | Fund | PDD | +2x the move | Difference | PDD moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −25.6% | −12.6% | −25.2% | −0.4 pts | 30% |
| 3 months | −15.7% | −4.6% | −9.2% | −6.5 pts | 34% |
| 6 months | −51.2% | −24.2% | −48.4% | −2.8 pts | 37% |
| 1 year | −70.3% | −38.1% | −76.2% | +5.9 pts | 34% |
| Since launch | −58.6% | −25.9% | −51.9% | −6.8 pts | 33% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of PDD, reset daily | ETFIQ |
| Multiple a holder actually got over the window | PDD moved −4.6% over this window, too little to read a multiple from | ETFIQ |
| Underlying | PDD | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $8m | 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 | 34% annualized | ETFIQ |

## Questions

### Did PDDL return +2 times PDD?

Over the window to Sep 11, 2026, PDD moved −4.6% and PDDL returned −15.7%. 2 times that move is −9.2%, so the fund came out 6.5 points short of it.

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

Because it resets daily. PDDL 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 PDD 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, PDDL, data as of Sep 11, 2026. https://etfiq.com/funds/PDDL
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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