GraniteShares 2x Long BABA Daily ETF (BABX) Performance
BABX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −61.9% since Dec 31, 2025
- 1 year
- −73.2% total return
- 3 years
- −7.2% a year
- Since first price
- −15.2% a year since 2022
BABX trailing returns vs SPY, QQQ, AGG
| Period | BABX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −20.5% | −20.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −28.1% | −28.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −48.7% | −48.7% | +7.8% | +8.4% | −1.5% |
| YTD | −61.9% | −61.9% | +12.3% | +15.1% | −1.0% |
| 1 year | −73.2% | −73.2% | +14.4% | +15.9% | −1.1% |
| 3 years | −20.1%−7.2%/yr | −20.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionDec 13, 2022 | −47.1%−15.2%/yr | −47.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BABX vs SPY
From Dec 13, 2022: BABX grew to $5,293, SPY to $19,913.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BABX returns by calendar year
2 of 3 full years positive. Best 2025 (+123.9%), worst 2023 (−33.9%). 2026 is year to date.
BABX annual returns table
| Year | BABX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −61.9% | −73.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +123.9% | −56.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +1.2% | −53.3% | +24.9% | +25.6% | +1.3% |
| 2023 | −33.9% | −66.9% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BABX largest drawdowns
Now 78.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 2, 2025 | −78.8% | Jun 26, 2026 | not yet | 9 months | 1.1 years so far |
| Jan 26, 2023 | −70.6% | Apr 17, 2024 | Feb 21, 2025 | 1.2 years | 2.1 years |
| Mar 17, 2025 | −56.4% | Apr 8, 2025 | Sep 15, 2025 | 22 days | 6 months |
| Feb 21, 2025 | −20.6% | Feb 24, 2025 | Mar 17, 2025 | 3 days | 24 days |
| Dec 13, 2022 | −11.2% | Dec 23, 2022 | Jan 3, 2023 | 10 days | 21 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BABX risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | −6.4% | −9.9% |
| Volatility (annualized) | 94.8% | 95.1% |
| Sharpe ratio | 0.28 | 0.25 |
| Sortino ratio | 0.56 | 0.48 |
| Best month | +71.7% | +71.7% |
| Worst month | −40.3% | −40.3% |
| Best 12 months | +165.2% | +165.2% |
| Worst 12 months | −71.4% | −71.4% |
| Positive months | 44% | 44% |
| Beta vs S&P 500 | 0.48 | — |
| Correlation with S&P 500 | 0.06 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BABX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 35 | −72.6% | −3.2% | +165.2% | 49% |
| 3-year (a year) | 11 | −10.5% | −5.4% | +14.4% | 45% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
BABX performance overview
GraniteShares 2x Long BABA Daily ETF (BABX) returned −73.2% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned −15.2% a year, turning $10,000 into about $5,293. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −78.8%, from Oct 2, 2025 to Jun 26, 2026; the fund has not yet regained that high. BABX finished 2 of its 3 full calendar years with a gain; the best year was 2025 (+123.9%) and the worst 2023 (−33.9%). Volatility has been 95.1% a year.
Related: BABX chart. See the BABX overview for the latest quote and fund facts.
BABX performance FAQ
What is the BABX return over the past year?
BABX returned −73.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 73.2%.
How much would $10,000 invested in BABX be worth?
$10,000 invested in BABX at its first recorded close on December 13, 2022 would be worth about $5,293 on October 23, 2026 with distributions reinvested.
What was the worst year for BABX?
The worst calendar year was 2023, with a total return of −33.9%. The best was 2025 at +123.9%.
What is the biggest drawdown of BABX?
The largest peak-to-trough decline was −78.8% between October 2, 2025 and June 26, 2026. It has not yet recovered to that high; it is 78.5% below its peak.
How volatile is BABX?
Over the past 3 years BABX had an annualized volatility of 94.8% and a Sharpe ratio of 0.28 (excess return over 1–3 month T-bills per unit of risk).