GraniteShares 2x Long IONQ Daily ETF (IONL) Performance
IONL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −78.0% since Dec 31, 2025
- 1 year
- −89.8% total return
- Since first price
- −69.5% since 2025
IONL trailing returns vs SPY, QQQ, AGG
| Period | IONL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −49.5% | −49.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −31.4% | −31.4% | +3.2% | +1.9% | −0.4% |
| 6 months | −67.8% | −67.8% | +7.8% | +8.4% | −1.5% |
| YTD | −78.0% | −78.0% | +12.3% | +15.1% | −1.0% |
| 1 year | −89.8% | −89.8% | +14.4% | +15.9% | −1.1% |
| Since inceptionMar 25, 2025 | −69.5% | −69.5% | — | — | — |
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: IONL vs SPY
From Mar 25, 2025: IONL grew to $3,053, SPY to $13,425.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
IONL returns by calendar year
2026 is year to date.
IONL annual returns table
| Year | IONL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −78.0% | −87.1% | +12.3% | +15.1% | −1.0% |
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.
IONL largest drawdowns
Now 94.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 13, 2025 | −95.0% | Oct 19, 2026 | not yet | 1.0 years | 1.0 years so far |
| May 27, 2025 | −49.4% | Aug 19, 2025 | Sep 12, 2025 | 3 months | 4 months |
| Mar 25, 2025 | −37.6% | Apr 4, 2025 | Apr 24, 2025 | 10 days | 30 days |
| Sep 23, 2025 | −33.6% | Sep 30, 2025 | Oct 6, 2025 | 7 days | 13 days |
| Oct 7, 2025 | −22.0% | Oct 10, 2025 | Oct 13, 2025 | 3 days | 6 days |
| May 2, 2025 | −10.9% | May 7, 2025 | May 8, 2025 | 5 days | 6 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
IONL risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −9.9% |
| Volatility (annualized) | 203.3% |
| Sharpe ratio | 0.70 |
| Sortino ratio | 1.60 |
| Best month | +131.0% |
| Worst month | −56.7% |
| Best 12 months | +21.8% |
| Worst 12 months | −81.9% |
| Positive months | 50% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
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.
IONL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 8 | −90.5% | −57.9% | +21.8% | 12% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
IONL performance overview
GraniteShares 2x Long IONQ Daily ETF (IONL) returned −89.8% over the past year, with distributions reinvested. Since its first recorded price on Mar 25, 2025 it has returned −69.5%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −95.0%, from Oct 13, 2025 to Oct 19, 2026; the fund has not yet regained that high. Volatility has been 203.3% a year.
Related: IONL chart. See the IONL overview for the latest quote and fund facts.
IONL performance FAQ
What is the IONL return over the past year?
IONL returned −89.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 89.8%.
How much would $10,000 invested in IONL be worth?
$10,000 invested in IONL at its first recorded close on March 25, 2025 would be worth about $3,053 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of IONL?
The largest peak-to-trough decline was −95.0% between October 13, 2025 and October 19, 2026. It has not yet recovered to that high; it is 94.8% below its peak.
How volatile is IONL?
Over the past history IONL had an annualized volatility of 203.3% and a Sharpe ratio of 0.70 (excess return over 1–3 month T-bills per unit of risk).