The GraniteShares 1.5x Long Meta Daily ETF (FBL) is an exchange-traded fund designed to deliver 1.5 times (1.5x) the daily performance of Meta Platforms, Inc. stock. The ETF is managed by GraniteShares and trades under the ticker FBL on the Nasdaq.

Classified as a leveraged equity ETF, the fund uses financial derivatives to amplify the daily price movements of Meta shares. Its objective is to provide approximately 1.5 times the stock's daily return and is not intended to achieve that multiple over periods longer than a single trading day.

The ETF follows an active management approach and utilizes swap agreements and other derivatives to pursue its daily leveraged investment objective.

Diversification and sector exposure

FBL provides exposure primarily associated with:

• Meta Platforms.

• Social media.

• Digital advertising.

• Artificial intelligence.

• Technology.

• Virtual and augmented reality.

• Digital communications.

• Leveraged strategies.

Because the fund is linked to a single company, its portfolio is highly concentrated and its performance depends directly on the daily price movements of Meta shares.

The ETF's returns are influenced by factors affecting the company, including digital advertising revenue, user engagement across its platforms, artificial intelligence initiatives, metaverse investments, and corporate earnings.

Structure and costs

FBL shares trade on the secondary market on the Nasdaq during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF's market price with its net asset value (NAV).

The fund uses derivatives to obtain leveraged exposure and rebalances its portfolio daily to maintain its targeted investment objective. The ETF charges a management fee as outlined in its prospectus and does not apply a performance fee.

History and evolution of the ETF

The GraniteShares 1.5x Long Meta Daily ETF was launched in 2024 as part of GraniteShares' lineup of leveraged single-stock ETFs. Since inception, the fund has provided investors with a way to obtain amplified daily exposure to Meta shares through an exchange-traded investment vehicle.

In recent years, advances in artificial intelligence, continued growth in digital advertising, investments in immersive computing, and the evolution of Meta's digital platforms have remained key factors influencing both the company's stock performance and the ETF's returns.

Additional Information

GraniteShares 1.5x Long Meta Daily ETF (United States) is an exchange-traded fund (ETF), with assets under management totaling $214.56 million.

Over the past 12 months, GraniteShares 1.5x Long Meta Daily ETF recorded a return of -42.68%, with its price trading between $19.25 and $51.04 during the same period.

The ETF is traded under the ticker FBL.