GraniteShares 2x Long QCOM Daily ETF (QCML) Performance
QCML total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −23.1% since Dec 31, 2025
- 1 year
- −24.5% total return
- Since first price
- −36.0% since 2025
QCML trailing returns vs SPY, QQQ, AGG
| Period | QCML total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −22.5% | −22.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.4% | −1.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +30.7% | +30.7% | +7.8% | +8.4% | −1.5% |
| YTD | −23.1% | −23.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −24.5% | −24.5% | +14.4% | +15.9% | −1.1% |
| Since inceptionFeb 13, 2025 | −36.0% | −36.0% | — | — | — |
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: QCML vs SPY
From Feb 13, 2025: QCML grew to $6,403, SPY to $12,709.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
QCML returns by calendar year
2026 is year to date.
QCML annual returns table
| Year | QCML | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −23.1% | −68.8% | +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.
QCML largest drawdowns
Now 58.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 29, 2026 | −68.8% | Jul 31, 2026 | not yet | 2 months | 5 months so far |
| Feb 19, 2025 | −59.1% | Apr 7, 2026 | May 7, 2026 | 1.1 years | 1.2 years |
| May 11, 2026 | −34.0% | May 19, 2026 | May 26, 2026 | 8 days | 15 days |
| May 26, 2026 | −12.4% | May 27, 2026 | May 29, 2026 | 1 days | 3 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
QCML risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −8.8% |
| Volatility (annualized) | 119.3% |
| Sharpe ratio | 0.38 |
| Sortino ratio | 0.76 |
| Best month | +87.7% |
| Worst month | −49.5% |
| Best 12 months | +137.2% |
| Worst 12 months | −41.9% |
| Positive months | 47% |
| 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.
QCML rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 9 | −41.9% | −18.4% | +137.2% | 33% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
QCML performance overview
GraniteShares 2x Long QCOM Daily ETF (QCML) returned −24.5% over the past year, with distributions reinvested. Since its first recorded price on Feb 13, 2025 it has returned −36.0%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −68.8%, from May 29, 2026 to Jul 31, 2026; the fund has not yet regained that high. Volatility has been 119.3% a year.
Related: QCML chart. See the QCML overview for the latest quote and fund facts.
QCML performance FAQ
What is the QCML return over the past year?
QCML returned −24.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 24.5%.
How much would $10,000 invested in QCML be worth?
$10,000 invested in QCML at its first recorded close on February 13, 2025 would be worth about $6,403 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of QCML?
The largest peak-to-trough decline was −68.8% between May 29, 2026 and July 31, 2026. It has not yet recovered to that high; it is 58.3% below its peak.
How volatile is QCML?
Over the past history QCML had an annualized volatility of 119.3% and a Sharpe ratio of 0.38 (excess return over 1–3 month T-bills per unit of risk).