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DRAL

GradeBChicago Board Options Exchange

Tidal ETF Trust II - Defiance Daily Target 2X Long DRAM ETF

Leveraged · Single-Stock Leveraged · Defiance · Inception 2026-06-24

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$12.20−0.76 (−5.86%)

As of Sep 23, 2026, 2:12 PM EDT

History starts Jun 25, 2026.History starts Jun 25, 2026.History starts Jun 25, 2026.
Intraday session: down, 46 prints from 12.96 to 12.20. Range 12.07 to 12.68. Use the arrow keys to read each point.$12.40$12.6010 AM12 PM2 PM4 PM
Expense ratio
0.71%
Fund size
$16M
1Y return
—
Yield · Last 12 months
0.00%
Holdings
8
Volume · 30D
0.4M sh
NAV per share
$11.37
52W range
low $7.04high $25.52

The ETF.net DRAL Grade

B

66/ 100

Rank 15 of 383 in Single-Stock Long Leveraged⁠

Confidence Medium

Six-pillar profile for DRAL. Scores out of 100: Cost 78, Risk 42, Mission not scored, Tradability 70, Holdings not scored, Durability 55. Strongest: Cost (78). Weakest: Risk (42). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 66 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 78
    Category rank86/383 · top 22%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 42
    Category rank171/272 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 70
    Category rank84/383 · top 22%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 55
    Category rank158/383 · top 41%

Graded as of Sep 21, 2026 · Based on 4 of 6 pillars

DRAL Holdings

As of Sep 20, 2026, 5:08 AM
Asset class
Stocks
Holdings
8
Top-10 weight
213%
Largest holding
ROUNDHILL MEMORY ETF-SWAP-CLST-L42.2%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—ROUNDHILL MEMORY ETF-SWAP-CLST-L42.21%125,570$7M2
002—ROUNDHILL MEMORY ETF-SWAP-CANT-L40.52%120,532$7M2
003—ROUNDHILL MEMORY ETF-SWAP-MREX-L40.47%120,394$7M2
004—ROUNDHILL MEMORY ETF-SWAP-SWAP-NMRA-L39.63%117,904$7M1
005—ROUNDHILL MEMORY ETF-SWAP-NBCB-L37.19%110,632$7M1
006—United States Treasury Bill 11/19/20269.53%1,700,000$2M49
007—First American Government Obligations Fund 12/01/20313.91%693,180$693K624

Showing 1–7 of 7 holdings

DRAL Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DRAL$7
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,127
Aug 21, 2026 to Sep 21, 2026. DRAL $7. SPY $10,127. Use the arrow keys to read each point.$-804$5,066$10,936Aug 21Sep 4Sep 21

Aug 21, 2026 – Sep 21, 2026

Returns run to the Sep 21, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DRAL. Periods over one year show the average yearly return.
PeriodDRAL
Year to dateFund launched this year—
1 month−99.9%
3 monthsFund is under 3 months old—
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DRAL
YearReturn barDRAL
2026 YTD−49.9%

History from Jun 25, 2026

DRAL in the news

ETF.net Research hasn’t filed on DRAL yet — coverage lands here as it’s written.

DRAL Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 21, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2025

One bar per payment. 4 payments from 2021 to 2025. Dec 20, 2021 $3.16; Apr 12, 2022 $3.16; May 2, 2023 $6.32; Sep 7, 2025 $6.32. Use the arrow keys to read each point.20212022202320242025
Ex-datePay dateAmount per share
Sep 24, 2026Pays Oct 8, 2026$6.32
Sep 7, 2025Sep 14, 2025$6.32
May 2, 2023May 9, 2023$6.32
Apr 12, 2022Apr 19, 2022$3.16
Dec 20, 2021Dec 27, 2021$3.16

DRAL Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jun 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Jun 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Jun 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.01
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

DRAL Cost

Expense ratio0.71%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

85 of the 329 Single-Stock Long Leveraged funds charge less.

DRAL costs $71.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.