# PUL (GraniteShares 2x Long P Daily ETF)

GraniteShares · Leveraged ETFs · data as of Oct 9, 2026

Three months to Oct 9, 2026: PUL returned +229.3% where its own daily promise gave +236.3%, 7.0 points short.

## Key facts

- PUL, what P did: +94.7%, as of Oct 9, 2026.
- PUL, what 2 times a day gives: +236.3%, as of Oct 9, 2026.
- PUL, what the fund returned: +229.3%, as of Oct 9, 2026.
- PUL, the fund itself cost: −7.0 pts, as of Oct 9, 2026.
- PUL, net assets: $2m (issuer page, as of Oct 8, 2026).
- PUL, expense ratio: 1.50% (485BPOS XBRL, May 26, 2026).

## PUL over each window to Oct 9, 2026

| Window | Fund | P | +2x the move | Difference | P moved about, annualized |
| --- | --- | --- | --- | --- | --- |
| 1 month | +143.9% | +59.2% | +118.3% | +25.5 pts | 58% |
| 3 months | +229.3% | +94.7% | +189.5% | +39.8 pts | 68% |
| Since launch | +236.8% | +97.4% | +194.9% | +41.9 pts | 67% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of P, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.42 times, against +2 stated | ETFIQ |
| Underlying | P | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $2m | issuer page, as of Oct 8, 2026 |
| Expense ratio | 1.50% | 485BPOS XBRL, May 26, 2026 |
| First traded | Jul 7, 2026 | ETFIQ |
| Underlying volatility over the window | 68% annualized | ETFIQ |

## Questions

### Did PUL return +2 times P?

Over the three months to Oct 9, 2026, P moved +94.7% and PUL returned +229.3%. 2 times that move is +189.5%, so the fund came out 39.8 points ahead of it. Against its own daily promise, 2 times each day's move compounded, it was 7.0 points short.

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

Because it resets daily. PUL 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, PUL, leveraged ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/pul
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at https://etfiq.com/data/.

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