# QCML (GraniteShares 2x Long QCOM Daily ETF)

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

Three months to Sep 11, 2026: QCML returned −31.6% where its own daily promise gave −29.4%, 2.1 points short.

## Key facts

- QCML, what QCOM did: −13.6%, as of Sep 11, 2026.
- QCML, what +2 times a day gives: −29.4%, as of Sep 11, 2026.
- QCML, what the fund returned: −31.6%, as of Sep 11, 2026.
- QCML, the fund itself cost: −2.1 pts, as of Sep 11, 2026.
- QCML, net assets: $136m (source, as filed for Jun 30, 2026).
- QCML, expense ratio: 1.50% (485BPOS XBRL, Oct 24, 2025).

## QCML over each window to Sep 11, 2026

| Window | Fund | QCOM | +2x the move | Difference | QCOM moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +23.9% | +12.2% | +24.4% | −0.5 pts | 26% |
| 3 months | −31.6% | −13.6% | −27.2% | −4.4 pts | 48% |
| 6 months | +53.6% | +41.5% | +82.9% | −29.4 pts | 65% |
| 1 year | −8.1% | +15.0% | +30.1% | −38.2 pts | 52% |
| Since launch | −28.4% | +9.8% | +19.6% | −48.0 pts | 49% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of QCOM, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.33 times, against +2 stated | ETFIQ |
| Underlying | QCOM | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $136m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.50% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Feb 13, 2025 | ETFIQ |
| Underlying volatility over the window | 48% annualized | ETFIQ |

## Questions

### Did QCML return +2 times QCOM?

Over the window to Sep 11, 2026, QCOM moved −13.6% and QCML returned −31.6%. 2 times that move is −27.2%, so the fund came out 4.4 points short of it.

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

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

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