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Rating:A $1.5B-AUM Shop Nearly Doubles a New Product Suite Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 13, 2022

A $1.5B-AUM Shop Nearly Doubles a New Product Suite

Reported by Neil Anderson, Managing Editor

The team at a $1.5-billion-AUM (as of December 1), New York City-based ETF shop is nearly doubling the size of a new product suite.

William "Will" Rhind
Founder, CEO
Today, Will Rhind founder and CEO of GraniteShares [profile], unveils the launch of three more single-stock, leveraged ETFs: the GraniteShares 1.75X Long BABA Daily ETF (BABX on the Nasdaq), the GraniteShares 1.5X Long META Daily ETF (FBL), and the GraniteShares 1.5X Long NVDA Daily ETF (NVDL). All three new funds are series of the GraniteShares ETF Trust, and their inception date is today.

NVDL, FBL, and BABX are all actively managed, with GraniteShares Advisors LLC serving as investment advisor and Benoir Autier (chief operating officer and head of product) and Jeff Klearman (portfolio manager) serving as PMs. Each of the funds comes with an expense ratio of 115 basis points (which factors in a 3bps fee waiver promised through June 30, 2023).

BABX is designed to magnify the returns of Alibaba. FBL is designed to do so for Meta (parent of Facebook). And NVDL is designed to do so for Nvidia.

"GranitShares pioneered this market in Europe and we now have a leading franchise offering 106 products on major European exchanges," Rhind states. "Short and leverage single-stock ETFs have been very popular in Europe and we're excited to now bring ETFs on some of the most popular stocks to the U.S. market."

The launch of NVDL, FBL, and BABX comes four months after the GraniteShares team rolled out their first four leveraged single-stock ETFs for U.S. investors. And GraniteShares isn't the only U.S. ETF shop in the leveraged and inverse ETF space.

BABX, FBL, and NVDL's other service providers include: SS&C's Alps Distributors, Inc. as distributor; Alps Fund Services, Inc. as administrator; Brown Brothers Harriman & Co. (BBD) as custodian and transfer agent; and Tait Weller, independent accounting firm. 

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