# UBRL (GraniteShares 2x Long UBER Daily ETF)

GraniteShares · Leveraged ETFs · data as of Oct 2, 2026

Three months to Oct 2, 2026: UBRL returned −20.4% where its own daily promise gave −18.8%, 1.6 points short.

## Key facts

- UBRL, what UBER did: −8.5%, as of Oct 2, 2026.
- UBRL, what 2 times a day gives: −18.8%, as of Oct 2, 2026.
- UBRL, what the fund returned: −20.4%, as of Oct 2, 2026.
- UBRL, the fund itself cost: −1.6 pts, as of Oct 2, 2026.
- UBRL, net assets: $28m (issuer page, as of Oct 1, 2026).
- UBRL, expense ratio: 1.15% (485BPOS XBRL, Oct 24, 2025).

## UBRL over each window to Oct 2, 2026

| Window | Fund | UBER | +2x the move | Difference | UBER moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −21.6% | −10.9% | −21.8% | +0.3 pts | 21% |
| 3 months | −20.4% | −8.5% | −17.0% | −3.4 pts | 35% |
| 6 months | −18.8% | −5.2% | −10.4% | −8.4 pts | 37% |
| 1 year | −59.3% | −29.5% | −59.0% | −0.3 pts | 35% |
| Since launch | −43.5% | −4.8% | −9.6% | −33.9 pts | 38% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of UBER, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.4 times, against +2 stated | ETFIQ |
| Underlying | UBER | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $28m | issuer page, as of Oct 1, 2026 |
| Expense ratio | 1.15% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Sep 4, 2024 | ETFIQ |
| Underlying volatility over the window | 35% annualized | ETFIQ |

## Questions

### Did UBRL return +2 times UBER?

Over the window to Oct 2, 2026, UBER moved −8.5% and UBRL returned −20.4%. 2 times that move is −17.0%, so the fund came out 3.4 points short of it.

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

Because it resets daily. UBRL 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, UBRL, data as of Oct 2, 2026. https://etfiq.com/funds/ubrl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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