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Launched · SEC filings

Graniteshares Autocallable Mara ETF

MRANasdaqGraniteSharesFThis fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.

$13.10−0.65 (−4.71%)

At close: Nov 2, 2026, 4:00 PM ET

F24/ 100

Rank 67 of 72 in Single-Stock Option Income

F24/100Rank 67 of 72inSingle-Stock Option Income
Intraday session: down, 79 prints from 13.75 to 13.10. Range 13.10 to 13.88. Use the arrow keys to read each point.13.2013.4013.6010 AM12 PM2 PM4 PM
Expense ratio
1.18%*
Fund size
$2M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
1
Avg volume · 30D
2.71K sh
52W range
low $13.27high $25.39
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Dec 31, 2027. Without it: 18.82%.

The ETF.net MRA Grade

Based on 4 of 6 pillars

F

Score 24 out of 100

Category
Single-Stock Option Income⁠
Rank
67 of 72
Six-pillar profile for MRA. Scores out of 100: Cost 19, Risk 32, Mission not scored, Tradability 22, Holdings not scored, Durability 38. Strongest: Durability (38). Weakest: Cost (19). Based on 4 of 6 pillars.

Score 24 of 100 falls in the F band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
24
This cap took
0
Published Score
24 Grade F

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F19 out of 100
    Rank 49 of 72

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D32 out of 100
    Rank 50 of 70

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F22 out of 100
    Rank 66 of 72

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D38 out of 100
    Rank 56 of 72

Our read on MRA

ETF.net Research

In short

FAutocallables are Wall Street's income note: contingent coupons, barrier levels, an early call. GraniteShares pulled that plumbing out of the bank-note wrapper and put it in a 1940 Act ETF, laddered across barriers and wired to MARA Holdings.

Stated mandate

The Fund seeks potential monthly income through a laddered portfolio of single-stock autocallable options linked to MARA Holdings Inc. Positions are managed through ongoing rolling, but distributions vary and are not guaranteed.

Why people hold it

  • Part of the first US lineup of single-stock autocallable ETFs, a payoff that previously reached most investors as a bank-issued structured note.graniteshares.com
  • No structured notes inside: returns come from OTC options held in a 1940 Act fund that trades on an exchange through any standard brokerage account.graniteshares.comgraniteshares.com 2
  • The portfolio is laddered across different barrier levels, so the income stream does not hinge on one trigger or one observation date.graniteshares.com
  • Fee of 1.07% lands right at the median for single-stock option-income funds, and the manager handles the rolling and reinvestment you would otherwise do by hand.graniteshares.com

Worth knowing

  • Income here is potential, not promised: distributions vary, can include return of capital, and the payoff tracks coupon rules rather than MARA's full move.graniteshares.com
  • Downside protection is limited, not absolute, and the exposure is synthetic, so a deep slide in the reference stock flows through without you owning the shares.graniteshares.com
  • A young fund with a small asset base and light trading, so bid-ask spreads carry more weight than with mainstream income ETFs.

MRA Performance

Launched May 27, 2026

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

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
MRA$7,254
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. MRA $7,254. SPY $10,141. Use the arrow keys to read each point.$8,000$10,000$12,000Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 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 MRA. Periods over one year show the average yearly return.
PeriodMRA
Year to dateFund launched this yearNo data
1 month−36.4%
3 months−27.5%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 MRA
YearReturn barMRA
2026 YTD−33.5%

Since listing, May 27, 2026

MRA in the news

MRA Dividends

Last payment
$0.84 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 5 payments in 2026 YTD. Jun 3, 2026 $0.85; Jul 1, 2026 $0.87; Aug 12, 2026 $0.86; Sep 9, 2026 $0.85; Oct 7, 2026 $0.84. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Oct 7, 2026Oct 9, 2026$0.84
Sep 9, 2026Sep 11, 2026$0.85
Aug 12, 2026Aug 14, 2026$0.86
Jul 1, 2026Jul 6, 2026$0.87
Jun 3, 2026Jun 5, 2026$0.85

MRA Risk

Risk pillarD32 out of 100Rank 50 of 70 in Single-Stock Option Income
How much the fund’s monthly returns vary, scaled to a year.
Launched May 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 May 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 May 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.
−0.84
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.

FMP measures it over up to five years of monthly returns.

MRA Cost

Compare MRA and KWIN

Overpaying vs KWIN, cheapest in Single-Stock Option Income

$11,378

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MRA 1.18%

    $21,543

  • KWIN 0.51% Cheapest

    $10,165

$10,000
30 years

Cost over time

  • MRA 1.18%
  • KWIN 0.51%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530MRA $21,543KWIN $10,165

Year by year

YearMRAKWINOverpaying
10$2,065$918$1,147
20$7,697$3,527$4,170
30$21,543$10,165$11,378
How the 1.18% is worked out

Full fee 18.82%− waiver 17.64%= you pay 1.18%

The waiver ends Dec 31, 2027. After that the fee is 18.82% unless GraniteShares renews it. Source: prospectus, Oct 2026.

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