GraniteShares 2x Long SMCI Daily ETF (SMCL) Performance
SMCL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −61.2% since Dec 31, 2025
- 1 year
- −87.3% total return
- Since first price
- −92.2% since 2024
SMCL trailing returns vs SPY, QQQ, AGG
| Period | SMCL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −40.7% | −40.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −9.9% | −9.9% | +3.2% | +1.9% | −0.4% |
| 6 months | −22.1% | −22.1% | +7.8% | +8.4% | −1.5% |
| YTD | −61.2% | −61.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −87.3% | −87.3% | +14.4% | +15.9% | −1.1% |
| Since inceptionDec 13, 2024 | −92.2% | −92.2% | — | — | — |
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: SMCL vs SPY
From Dec 13, 2024: SMCL grew to $777, SPY to $12,868.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SMCL returns by calendar year
0 of 1 full years positive. Best 2025 (−69.5%), worst 2025 (−69.5%). 2026 is year to date.
SMCL annual returns table
| Year | SMCL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −61.2% | −83.3% | +12.3% | +15.1% | −1.0% |
| 2025 | −69.5% | −90.2% | +17.7% | +20.8% | +7.2% |
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.
SMCL largest drawdowns
Now 96.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2025 | −97.5% | Jul 20, 2026 | not yet | 1.4 years | 1.7 years so far |
| Dec 13, 2024 | −53.7% | Feb 3, 2025 | Feb 10, 2025 | 52 days | 59 days |
| Feb 10, 2025 | −19.3% | Feb 11, 2025 | Feb 14, 2025 | 1 days | 4 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SMCL risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | −60.8% |
| Volatility (annualized) | 187.8% |
| Sharpe ratio | 0.37 |
| Sortino ratio | 0.65 |
| Best month | +156.1% |
| Worst month | −69.3% |
| Best 12 months | −54.3% |
| Worst 12 months | −93.8% |
| Positive months | 52% |
| 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.
SMCL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 11 | −93.8% | −78.0% | −54.3% | 0% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
SMCL performance overview
GraniteShares 2x Long SMCI Daily ETF (SMCL) returned −87.3% over the past year, with distributions reinvested. Since its first recorded price on Dec 13, 2024 it has returned −92.2%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −97.5%, from Feb 19, 2025 to Jul 20, 2026; the fund has not yet regained that high. Volatility has been 187.8% a year.
Related: SMCL chart. See the SMCL overview for the latest quote and fund facts.
SMCL performance FAQ
What is the SMCL return over the past year?
SMCL returned −87.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 87.3%.
How much would $10,000 invested in SMCL be worth?
$10,000 invested in SMCL at its first recorded close on December 13, 2024 would be worth about $777 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of SMCL?
The largest peak-to-trough decline was −97.5% between February 19, 2025 and July 20, 2026. It has not yet recovered to that high; it is 96.2% below its peak.
How volatile is SMCL?
Over the past history SMCL had an annualized volatility of 187.8% and a Sharpe ratio of 0.37 (excess return over 1–3 month T-bills per unit of risk).