GraniteShares 2x Long UBER Daily ETF (UBRL) Performance
UBRL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −43.3% since Dec 31, 2025
- 1 year
- −59.3% total return
- Since first price
- −46.3% since 2024
UBRL trailing returns vs SPY, QQQ, AGG
| Period | UBRL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −8.9% | −8.9% | −1.0% | −5.0% | +0.9% |
| 3 months | −11.3% | −11.3% | +3.2% | +1.9% | −0.4% |
| 6 months | −28.2% | −28.2% | +7.8% | +8.4% | −1.5% |
| YTD | −43.3% | −43.3% | +12.3% | +15.1% | −1.0% |
| 1 year | −59.3% | −63.1% | +14.4% | +15.9% | −1.1% |
| Since inceptionSep 4, 2024 | −46.3% | −51.4% | — | — | — |
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: UBRL vs SPY
From Sep 4, 2024: UBRL grew to $5,366, SPY to $14,155.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
UBRL returns by calendar year
1 of 1 full years positive. Best 2025 (+45.9%), worst 2025 (+45.9%). 2026 is year to date.
UBRL annual returns table
| Year | UBRL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −43.3% | −50.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +45.9% | −40.1% | +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.
UBRL largest drawdowns
Now 63.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 6, 2025 | −63.8% | Oct 23, 2026 | not yet | 1.0 years | 1.0 years so far |
| Oct 11, 2024 | −54.3% | Dec 13, 2024 | Jul 7, 2025 | 2 months | 9 months |
| Jul 8, 2025 | −21.1% | Aug 1, 2025 | Sep 22, 2025 | 24 days | 2 months |
| Sep 24, 2024 | −11.5% | Oct 2, 2024 | Oct 9, 2024 | 8 days | 15 days |
| Sep 4, 2024 | −10.2% | Sep 12, 2024 | Sep 13, 2024 | 8 days | 9 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
UBRL risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | −27.4% |
| Volatility (annualized) | 51.2% |
| Sharpe ratio | -0.44 |
| Sortino ratio | -0.59 |
| Best month | +24.7% |
| Worst month | −31.7% |
| Best 12 months | +45.9% |
| Worst 12 months | −59.8% |
| Positive months | 42% |
| 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.
UBRL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 14 | −60.8% | −25.4% | +45.9% | 36% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
UBRL performance overview
GraniteShares 2x Long UBER Daily ETF (UBRL) returned −59.3% over the past year, with distributions reinvested. Since its first recorded price on Sep 4, 2024 it has returned −46.3%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −63.8%, from Oct 6, 2025 to Oct 23, 2026; the fund has not yet regained that high. Volatility has been 51.2% a year.
Related: UBRL chart, UBRL dividends. See the UBRL overview for the latest quote and fund facts.
UBRL performance FAQ
What is the UBRL return over the past year?
UBRL returned −59.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 63.1%.
How much would $10,000 invested in UBRL be worth?
$10,000 invested in UBRL at its first recorded close on September 4, 2024 would be worth about $5,366 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of UBRL?
The largest peak-to-trough decline was −63.8% between October 6, 2025 and October 23, 2026. It has not yet recovered to that high; it is 63.8% below its peak.
How volatile is UBRL?
Over the past history UBRL had an annualized volatility of 51.2% and a Sharpe ratio of -0.44 (excess return over 1–3 month T-bills per unit of risk).