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GraniteShares 2x Long MARA Daily ETF

MRALNasdaqGraniteSharesDThis 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.

$10.90−1.21 (−9.95%)

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

D34/ 100

Rank 304 of 380 in Single-Stock Long Leveraged

D34/100Rank 304 of 380inSingle-Stock Long Leveraged
Intraday session: down, 79 prints from 12.11 to 10.90. Range 10.77 to 12.63. Use the arrow keys to read each point.11.5012.5010 AM12 PM2 PM4 PM
Expense ratio
1.45%*
Fund size
$24M
1Y total return
−94.4%
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
131K sh
52W range
low $10.98high $223.90
Launched

*After a fee waiver that ends Dec 31, 2027. Without it: 1.51%.

The ETF.net MRAL Grade

Based on 5 of 6 pillars

D

Score 34 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
304 of 380
Six-pillar profile for MRAL. Scores out of 100: Cost 19, Risk 24, Mission 67, Tradability 62, Holdings not scored, Durability 73. Strongest: Durability (73). Weakest: Cost (19). Based on 5 of 6 pillars.

Score 34 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F19 out of 100
    Rank 308 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B67 out of 100
    Rank 134 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F24 out of 100
    Rank 327 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B62 out of 100
    Rank 121 of 380

  • 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.
    A73 out of 100
    Rank 52 of 380

Our read on MRAL

ETF.net Research

In short

DTwo times the daily move of MARA Holdings, a bitcoin miner whose shares already travel in big steps, built from swaps that reset each afternoon. GraniteShares rates it top of its own risk scale and aims it at single-day holds.

Stated mandate

The fund seeks to deliver twice the daily return of MARA Holdings Corporation for active traders seeking amplified short-term exposure.

Why people hold it

  • Mechanically plain: total-return swaps supply about 200% notional MARA exposure, collateralized by cash and Treasury bills, no margin account or options chain on your end.graniteshares.com
  • A 1940 Act ETF that trades like a stock, so the leverage lives inside the fund and sits in an ordinary brokerage account rather than on borrowed money in yours.graniteshares.com
  • GraniteShares is blunt about the job: top of its own 5-point risk scale, for sophisticated investors who actively monitor positions and hold for very short periods.graniteshares.com

Worth knowing

  • 1.50% net of a waiver through December 31, 2026 (1.93% gross), above the category median; the best-rated 2x single-stock funds, such as OKTG at 0.75%, charge far less.
  • Daily reset means path matters. Held longer than a day, a choppy stretch in MARA can leave the fund's return well short of twice the stock's move over that span.graniteshares.com
  • A niche fund that trades in moderate size rather than a category flagship, so spreads and limit orders are worth a look.

MRAL Performance

Launched Mar 7, 2025

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.
MRAL$564
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. MRAL $564. SPY $11,199. Use the arrow keys to read each point.$0$5,000$10,000Oct 2025May 2026Oct 2026

Oct 31, 2025 – 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 MRAL. Periods over one year show the average yearly return.
PeriodMRAL
Year to date−73.6%
1 month−66.8%
3 months−71.2%
1 year−94.4%
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 MRAL
YearReturn barMRAL
2026 YTD−73.6%
2025−83.8%

Since listing, Mar 7, 2025

MRAL in the news

MRAL Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

MRAL Risk

Risk pillarF24 out of 100Rank 327 of 368 in Single-Stock Long Leveraged

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.
133.6%
Annualised · 19 months to Oct 2026
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.
−0.41
vs 3-month T-bills · 19 months to Oct 2026
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.
−96.5%
19 months · trough Oct 2026
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.
7.70
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.

MRAL Cost

Compare MRAL and GOGL

Overpaying vs GOGL, tied cheapest in Single-Stock Long Leveraged

$21,415

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

  • MRAL 1.45%

    $25,570

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • MRAL 1.45%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530MRAL $25,570GOGL $4,155

Year by year

YearMRALGOGLOverpaying
10$2,509$365$2,144
20$9,241$1,421$7,820
30$25,570$4,155$21,415
How the 1.45% is worked out

Full fee 1.51%− waiver 0.06%= you pay 1.45%

The waiver ends Dec 31, 2027. After that the fee is 1.51% unless GraniteShares renews it. Source: prospectus, Oct 2026.

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