{
 "ticker": "BBUL",
 "name": "GraniteShares 2x Long BB Daily ETF",
 "issuer": "GraniteShares",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/bbul",
 "html": "https://etfiq.com/funds/bbul",
 "markdown": "https://etfiq.com/funds/bbul.md",
 "as_of": "2026-10-09",
 "verdict": "Three months to Oct 9, 2026: BBUL returned \u221243.0% where its own daily promise gave \u221240.3%, 2.7 points short.",
 "key_facts": [
  {
   "key": "what_bb_did",
   "label": "What BB did",
   "value": "\u221218.8%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "BBUL, what BB did: \u221218.8%, as of Oct 9, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221240.3%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "BBUL, what 2 times a day gives: \u221240.3%, as of Oct 9, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221243.0%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "BBUL, what the fund returned: \u221243.0%, as of Oct 9, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22122.7 pts",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "BBUL, the fund itself cost: \u22122.7 pts, as of Oct 9, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$1m",
   "source": "issuer page, as of Oct 8, 2026",
   "as_of": "2026-10-09",
   "sentence": "BBUL, net assets: $1m (issuer page, as of Oct 8, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.50%",
   "source": "485BPOS XBRL, May 26, 2026",
   "as_of": "2026-10-09",
   "sentence": "BBUL, expense ratio: 1.50% (485BPOS XBRL, May 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of BB, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.29 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "BB",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$1m",
   "source": "issuer page, as of Oct 8, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.50%",
   "source": "485BPOS XBRL, May 26, 2026"
  },
  {
   "key": "first_traded",
   "label": "First traded",
   "value": "Jul 7, 2026",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "61% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+25.9%",
   "BB": "+15.0%",
   "+2x the move": "+29.9%",
   "Difference": "\u22124.0 pts",
   "BB moved about, annualized": "60%"
  },
  {
   "window": "3 months",
   "Fund": "\u221243.0%",
   "BB": "\u221218.8%",
   "+2x the move": "\u221237.6%",
   "Difference": "\u22125.4 pts",
   "BB moved about, annualized": "61%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221244.3%",
   "BB": "\u221219.7%",
   "+2x the move": "\u221239.5%",
   "Difference": "\u22124.9 pts",
   "BB moved about, annualized": "60%"
  }
 ],
 "questions": [
  {
   "q": "Did BBUL return +2 times BB?",
   "a": "Over the three months to Oct 9, 2026, BB moved \u221218.8% and BBUL returned \u221243.0%. 2 times that move is \u221237.6%, so the fund came out 5.4 points short of it. Against its own daily promise, 2 times each day's move compounded, it was 2.7 points short."
  },
  {
   "q": "Why does BBUL not return +2 times over a year?",
   "a": "Because it resets daily. BBUL 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."
  }
 ],
 "generated": "2026-10-10",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, BBUL, leveraged ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/bbul"
}