Overview

Investment Objective

The Fund seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the common stock of Alphabet Inc. Class A (NASDAQ: GOOGL).

At a Glance

Key Pros

  • Potential for magnified daily gains on Alphabet Inc. stock.
  • Provides a targeted, tactical tool for expressing a strong short-term bullish view on a single, well-known company.

Key Cons

  • High risk of total loss, with potential losses magnified by 2x the daily decline of the underlying stock.
  • Unsuitable for long-term holding due to the negative effects of daily compounding, which can cause returns to deviate significantly from 2x the stock's long-term performance and lead to losses even in flat or slightly positive markets.
  • High expense ratio (1.15% net), plus significant indirect swap costs.
  • Extreme concentration risk from exposure to a single stock.

Performance

Journey of $10k

1Y Return Annualized The average amount of money earned by an investment each year over a given time period. N/A
3Y Return Annualized The average amount of money earned by an investment each year over a given time period. N/A
5Y Return Annualized The average amount of money earned by an investment each year over a given time period. N/A

Distributions

No dividend distribution history is available for this fund.

Technical & Trading Details

52 Week High The highest price at which a stock has traded over the past 52 weeks. N/A
52 Week Low The lowest price at which a stock has traded over the past 52 weeks. N/A
50-Day MA The 50-day moving average is the average closing price of a stock over the last 50 days, used to identify short-term trends. N/A
200-Day MA The 200-day moving average is the average closing price of a stock over the last 200 days. It is often used to gauge the long-term trend of a security. N/A

Advanced Performance & Risk

Beta A measure of a stock's volatility in relation to the overall market. A beta greater than 1 indicates the stock is more volatile than the market, while a beta less than 1 suggests it is less volatile.
N/A
Sharpe Ratio A measure of an investment's performance compared to its risk. A higher Sharpe ratio indicates a better return for the amount of risk taken.
1Y: N/A 3Y: N/A
Max Drawdown The largest single drop in the value of an investment from its peak to its lowest point during a specific period.
1Y: N/A 3Y: N/A
Sortino Ratio Similar to the Sharpe ratio, this measures risk-adjusted return but only focuses on downside risk, which is the risk of losses. A higher Sortino ratio is generally better.
Calmar Ratio A ratio that measures an investment's performance against its risk, specifically by comparing the average annual return to the maximum drawdown. A higher Calmar ratio is considered better.
CVaR 95% Conditional Value at Risk (CVaR) at a 95% confidence level. It measures the expected loss if the VaR threshold is exceeded. For instance, a CVaR of -0.0228 indicates that if the 5% worst-case threshold is crossed, the average loss is expected to be 2.28%.
Skewness A measure of the asymmetry of an investment's returns. Positive skewness suggests a higher probability of small losses and a few large gains, while negative skewness indicates a higher chance of small gains and a few large losses.

Expense Ratio

Expense Breakdown

Expense Ratio Explanation
Gross Expense Ratio
Management Fee
Acquired Fund Fees
12b-1 Fee
Other Expenses
Fee Waiver
Net Expense Ratio
1.15%

Risk Analysis

Primary Risk

Sourced from ETF's prospectus.

Single-Stock ETP Risk

The risk of investing in an Exchange-Traded Product that tracks the performance of a single stock. This is a highly concentrated investment and carries the same risks as owning the individual stock directly.

Signalbloom Risk Rating

Extreme

This ETF carries extreme risk due to its use of 2x daily leverage combined with its concentration in a single underlying stock, Alphabet Inc. This structure creates a significant risk of rapid and total loss of principal, and the effects of daily compounding make it unsuitable for any holding period beyond a single day.

Learn more about our risk methodology.

Diversification Status

Non-Diversified

All Disclosed Risks

The following risks have been disclosed by the fund in its prospectus.

Liquidity & Structural Risk

Underlying Liquidity Profile
AP Concentration Risk

Strategy Deep Dive

Strategy DNA

Primary Asset Class Equity
Market Cap Target Mega-Cap
Equity Style/Factor Focus N/A
Primary Equity Sector Communication Services
Specific Industries Interactive Media & Services
Geographic Focus US
Portfolio Turnover Policy
Expected Turnover Rate
Fund of Funds No
Leveraged Yes
Inverse No
Target Multiple 2.0
In simple terms, how does GOOL's investment strategy work?
How exactly does GOOL get its exposure?
What are the active management decision criteria?
How often does the exposure reset?
Daily

Derivatives Use

GOOL uses derivatives for:
Leverage To Gain Investment Exposure (Replication)

Investment Policies & Restrictions

Are there any concentration limits on how much the fund can invest in a single security or sector?
What is the fund's policy on holding illiquid investments?

Suitability & Market Scenarios

What is GOOL's primary role in a portfolio?
What is the fund manager's "edge"?
What type of investor is GOOL best suited for?
What type of investor should avoid GOOL?
What is the ideal market environment for GOOL?
What is the worst-case scenario for GOOL?

ESG & SRI Focus

Does GOOL have an ESG focus?
ESG Data Provider
Exclusion Criteria

Tax Efficiency Analysis

What is the primary tax form for GOOL?
How tax-efficient is GOOL?
Does GOOL engage in tax-loss harvesting?
What are the key tax implications for investors?

Issuer & Governance

Portfolio Management

Benoit Autier
Since: 2022-01-01
Jeff Klearman
Since: 2022-01-01
Ryan Dofflemeyer
Since: 2024-09-01

Issuer Details

Investment Adviser GraniteShares Advisors LLC
Legal Structure Open-End Management Investment Company (1940 Act)
Primary Exchange NASDAQ Stock Market LLC
Inception Date N/A
Is ETN No
ETN Issuer N/A
Trust Registrant GraniteShares ETF Trust
Regulatory Framework

Service Providers

Auditor Tait Weller & Baker LLP
Custodian Brown Brothers Harriman & Co.
Distributor ALPS Distributors, Inc.
Transfer Agent Brown Brothers Harriman & Co.

Tax Governance

Potential UBTI
Subject to Section 871(m)
What is the fund's stated concentration limit?

Disclosed Conflicts of Interest

Unusual Clauses

Securities Lending Policy

Securities Lending Active
Revenue Share to Fund
Disclosed Revenue
Time Period

Policy Summary