5 Best Performing ETFs in 2023

2. GraniteShares 1.5x Long META Daily ETF (NASDAQ:FBL)

YTD Share Price Performance as of August 24: 232.31%

GraniteShares 1.5x Long META Daily ETF (NASDAQ:FBL) seeks to achieve daily returns, before fees and expenses, that are 1.5 times (150%) the daily percentage fluctuation of Meta Platforms, Inc. (NASDAQ:META)’s common stock. The ETF was created on December 13, 2022. GraniteShares 1.5x Long META Daily ETF (NASDAQ:FBL)’s year-to-date share price gains as of August 24 classify it as one of the best performing ETFs this year. 

Baron Fifth Avenue Growth Fund made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its second quarter 2023 investor letter:

“Shares of Meta Platforms, Inc. (NASDAQ:META), the world’s largest social network continued their upward trajectory, rising by 35.4% due to stabilizing revenues and ongoing improvements in margins. Meta reported continued growth in Instagram Reels adoption and other new advertising products. In addition, the company’s advancements in AI continue contributing to its targeting and measurement capabilities, while GenAI innovation presents an opportunity for new products and incremental monetization. The company also achieved a significant milestone of 3 billion daily active users across its family of apps, representing a 5% year-over-year increase. User engagement remains robust, with video content and Instagram Reels playing a significant role in user time on the platform. The monetization gap between Reels and other ad formats is steadily narrowing, and Meta anticipates it will reach revenue neutrality by late 2023 or early 2024. Meta has also reported an increase in its speed and agility of execution following the recent organizational changes and cost cuts. Longer term, we believe Meta will benefit from its leadership in mobile advertising, massive user base, innovative culture, leading GenAI research and potential distribution, and technological scale, with further monetization opportunities ahead.”