GraniteShares 2x Long INTC Daily ETF (INTW) Advances +12% in 30 Days on Intel Momentum

Key Takeaways

• INTW advanced roughly 12% over the trailing 30 days, driven by a sharp mid-September rally in its single underlying stock, Intel (INTC).
• As a 2x leveraged single-stock exchange-traded fund (ETF), INTW targets 200% of Intel's daily return and resets daily, amplifying both gains and losses over short periods.
• Primary catalysts included surging demand for server CPUs tied to AI agents and reported manufacturing-partnership discussions involving Intel's U.S. fabs.
• Over the most recent quarter, INTW was down about 10%, illustrating how daily-reset leverage and elevated volatility can produce returns that diverge from the underlying stock over multi-week periods.
• INTW is a non-diversified, actively managed fund that relies on swap agreements rather than a basket of holdings to deliver its leveraged exposure.

GraniteShares 2x Long INTC Daily ETF (INTW) Structure and Exposure

INTW seeks daily investment results, before fees and expenses, that correspond to two times (200%) the daily percentage change in the common stock of Intel Corporation. It is an actively managed, non-diversified fund launched in February 2025 with a net expense ratio of 1.50% and roughly $320 million in assets under management (AUM).

Unlike a broad sector or index ETF, INTW does not hold a diversified portfolio of companies. It pursues its objective primarily through total return swaps and other derivative instruments on Intel, and it may also hold Intel shares directly. Because its exposure is concentrated in a single security, the fund's sector profile is effectively a leveraged expression of Intel's fundamentals across semiconductors, data-center computing, and foundry services.

This single-stock, daily-reset structure is central to understanding the fund's behavior. INTW is designed for short-term trading rather than long-term holding, and its multi-day returns can differ materially from a simple doubling of Intel's move because of daily compounding and the cost of volatility. I also checked this using Tickeron’s AI Screener to see how the fund stacks up against other leveraged vehicles in the space.

GraniteShares 2x Long INTC Daily ETF (INTW) Price Performance Over 30 Days and the Quarter

Over the trailing 30 days, INTW climbed from roughly $24.70 to about $27.58, a gain of nearly 12%. The move was not linear: the fund staged a rapid surge through late September, briefly trading above $35, before giving back a portion of those gains in early October.

The broader three-month picture is more muted. Measured from levels near $30.70 in early July, INTW is down about 10% over the most recent quarter. The contrast between a positive 30-day return and a negative quarterly return reflects the extreme volatility that has characterized Intel shares and the compounding effects of daily-reset leverage, which tend to erode returns during choppy, trend-reversing markets.

Drivers Behind INTW's Recent 30-Day Move

The recent advance was anchored in Intel's underlying stock, which moved sharply higher in mid-September on a cluster of catalysts. A key driver was renewed enthusiasm around AI-driven demand for server processors. The early popularity of Meta's (META) Muse AI agent focused investor attention on the role of CPUs—not just graphics accelerators—in running AI agents, benefiting Intel, AMD (AMD), and Arm.

Intel also drew support from reported discussions with SK Hynix about producing memory chips at Intel's Ohio manufacturing campus, a potential arrangement that could improve utilization of its U.S. fabs. Separately, a reported collaboration with AUO Optronics on Micro LED advanced packaging for co-packaged optics reinforced Intel's positioning in next-generation data-center connectivity. Analysts responded constructively, with at least one firm raising its price target while citing stronger Xeon demand and improving 18A process execution.

Intel's management added to the narrative by indicating that CPU demand had reached levels where the company could satisfy only a portion of customer orders, alongside reports of server CPU price increases. These themes lifted Intel and, through leverage, INTW, before an early-October pullback tied to uncertainty over Intel's role in the Terafab Texas AI chip venture after reports of talks involving Taiwan Semiconductor Manufacturing Company.

Factors Influencing INTW Performance Over the Quarter

The quarterly trend reflects a longer-running but choppy theme: Intel's AI- and foundry-led turnaround. Intel reported second-quarter revenue up about 25% year over year, with Data Center and AI revenue rising roughly 59% and Foundry revenue growing about 31%. Robust AI infrastructure spending, a tightening server CPU market, and progress on advanced process nodes such as 18A and 14A underpinned sentiment.

However, single-stock leveraged ETFs convert even a strong underlying trend into amplified, path-dependent volatility. Intel's shares experienced sharp swings over the period, and INTW's 2x daily reset compounded those moves, producing a negative quarterly return for the fund even amid a generally constructive longer-term narrative for the underlying company. From what I see, monitoring these swings closely helps clarify when leverage works for or against the position.

INTW Outlook and Key Factors to Monitor

Because INTW is a single-stock leveraged vehicle, its outlook is inseparable from Intel's fundamentals and the broader semiconductor cycle. Key factors to monitor include the durability of AI-driven CPU demand, the pace of foundry customer wins, and execution on Intel's 18A and 14A process nodes. Developments around the Terafab venture, potential memory partnerships, and any named external foundry customers are likely to remain influential catalysts.

At the macro level, interest-rate expectations, inflation trends, and the trajectory of AI capital expenditure will shape sentiment toward semiconductor names broadly. Leveraged ETFs also carry structural risks—including volatility decay, daily rebalancing, and the potential for amplified losses—that make holding periods and risk management as important as the underlying company's story. Investors should weigh these mechanics carefully when assessing whether INTW's leveraged exposure aligns with their objectives.

Using Tickeron’s AI Screener in My Research Process

Tickeron's AI Screener helps me quickly scan thousands of securities with technical indicators, fundamentals, volatility metrics, price patterns, and AI-generated signals. For single-stock leveraged ETFs like INTW or opportunities across semiconductors, it narrows the field efficiently and highlights setups that match specific objectives. I find it especially useful when comparing performance characteristics and industry filters in volatile names.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

Disclaimers and Limitations

Contributor

Jimmy Landsman|Expert

My name is Jimmy, and I’m a financial analyst focused on identifying compelling opportunities across the ETF market. Each day, I analyze hundreds of ETFs to uncover potential trading and investment opportunities using a broad range of market factors. For short-term trading, I rely heavily on technical analysis, including price channels, momentum indicators, support and resistance levels, trend patterns, and other market signals. At the same time, I dedicate significant attention to evaluating ETFs from a long-term investment perspective. My objective is to build a well-balanced ETF portfolio that combines core investment holdings with more tactical and speculative positions. The goal is to create a portfolio that can participate effectively in market rallies while also remaining resilient during periods of volatility and market corrections.

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