Share-split context: A forward split was recorded on Jun 26, 2026 with coefficient 8. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

ETF Education Report: GRANITESHARES 2X LONG DELL DAILY ETF (DLLL)

What this ETF is trying to do

The GRANITESHARES 2X LONG DELL DAILY ETF (DLLL) is a type of investment called a leveraged ETF. This means it is designed to move in a specific way relative to its target. It is also noted as being a leveraged product, which typically means it seeks to provide more movement than the underlying asset it tracks.

What the numbers show

The current price of DLLL is $37.49. Because this ETF has a history of share splits, we look at "split-adjusted" returns to understand how the price has changed.

A forward split occurred on June 26, 2026. In a forward split, each old share becomes multiple new shares (in this case, the coefficient was 8). While this makes the price per share look lower, it does not change the total value of your investment at the moment it happens.

The performance numbers provided are:

• Year-to-Date (YTD) Price Return: Approximately 1,207.35%

• Year-to-Date (YTD) Total Return: Approximately 1,207.35%

• One-Year Price Return: Approximately 754.96%

• One-Year Total Return: Approximately 754.96%

In this specific case, the price return and the total return are the same. The price return measures how much the share price moved, while the total return includes both price changes and any cash distributions.

Income and distribution explanation

Some investors look for ETFs that pay out regular cash, known as distributions. For DLLL, the distribution yield is 0%. No distributions were detected over the last 12 months. This means the ETF has not been paying out cash to shareholders during this period.

NAV erosion explanation

"NAV erosion" refers to a situation where the value of the underlying assets in the ETF decreases significantly over time. StockValueFinder uses an "erosion-risk score" to measure this risk.

For DLLL, the erosion score is 100, and the label is "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag present.

Pros

• The ETF has shown very high price returns both year-to-date and over the last year.

• The erosion-risk measurements currently show no detected price erosion.

Cons

• This is a leveraged ETF, which means it can have very large price swings.

• There are no distributions or income being paid out to investors.

• No top holdings were supplied in the data, so the specific companies inside the fund are not listed here.

Beginner takeaway

DLLL is a leveraged ETF that has experienced significant price increases recently. It does not currently pay out cash distributions to investors. Because it is a leveraged fund, its price can move much faster than standard investments. Always remember that past performance does not guarantee what will happen in the future.