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ISUL

GradeCNASDAQ Global Select

GraniteShares 2x Long ISRG Daily ETF

Leveraged · Single-Stock Leveraged · GraniteShares · Inception 2025-10-07

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.

$15.55−0.47 (−2.92%)

As of Sep 23, 2026, 2:14 PM EDT

History starts Oct 7, 2025.History starts Oct 7, 2025.
Intraday session: down, 38 prints from 16.02 to 15.55. Range 15.55 to 16.15. Use the arrow keys to read each point.$15.80$16.00$16.2010 AM12 PM2 PM4 PM
Expense ratio
1.50%
Fund size
$11M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0.1M sh
NAV per share
$16.00
52W range
low $11.06high $42.60

The ETF.net ISUL Grade

C

40/ 100

Rank 132 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for ISUL. Scores out of 100: Cost 13, Risk 57, Mission 94, Tradability 73, Holdings not scored, Durability 63. Strongest: Mission (94). Weakest: Cost (13). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C 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.
    FScore 13
    Category rank321/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 94
    Category rank56/147 · top 38%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 57
    Category rank96/285 · top 34%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 73
    Category rank73/380 · top 19%

  • 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 63
    Category rank113/380 · top 30%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on ISUL

ETF.net Research

CISUL points 2x daily leverage at Intuitive Surgical, the medical-device maker, and resets every session. A one-day trading tool aimed at the operating room instead of another mega-cap tech name.

Stated mandate

The Fund seeks daily investment results equal to 2 times the daily percentage change of Intuitive Surgical, Inc.'s common stock, before fees and expenses.

Why people hold it

  1. 01The mandate is narrow and literal: 2 times the daily percentage move of Intuitive Surgical stock, before fees. No basket, no index committee, no mystery about what drives it.graniteshares.com
  2. 02It has tracked that stated 2x daily target closely, which is the entire job description for a leveraged single-stock fund.
  3. 03Leverage pointed at a medical-device maker, a less crowded target than the mega-cap tech tickers that dominate the leveraged single-stock shelf.
  4. 04Built as a registered 1940 Act fund rather than an exchange-traded note, so there is no bank credit risk sitting behind the exposure.graniteshares.com

Worth knowing

  1. 01The 2x objective resets daily. Hold longer and compounding takes over, so multi-day results can drift well away from 2x the stock's move, especially in choppy tape.
  2. 02At 1.50% a year it sits above the typical fee in its peer group, where several 2x single-stock competitors charge closer to 0.75%.
  3. 03A 2025 launch with moderate trading volume, so spreads and limit orders matter more here than with the household-name leveraged funds. It is not an income vehicle.

ISUL Holdings

As of Sep 21, 2026, 4:07 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
ISRG SWAP66.7%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—ISRG SWAP66.68%52,578$20M1
002—US Dollars33.32%10,075,812$10M85

Showing 1–2 of 2 holdings

ISUL Performance

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

ISUL$4,249
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. ISUL $4,249. SPY $11,430. Use the arrow keys to read each point.$2,360$7,251$12,143Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 ISUL. Periods over one year show the average yearly return.
PeriodISUL
Year to date−57.5%
1 month+11.1%
3 months−8.3%
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 ISUL
YearReturn barISUL
2026 YTD−57.5%
2025+56.5%

Since listing, Oct 7, 2025

ISUL in the news

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

ISUL 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 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Oct 2025. No distributions yet.

ISUL 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 Oct 2025; 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 Oct 2025; 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 Oct 2025; 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.
0.40
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.

ISUL Cost

Expense ratio1.50%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

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

ISUL costs $150.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.