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MRAL

GradeDNASDAQ Global Select

GraniteShares 2x Long MARA Daily ETF

Leveraged · Single-Stock Leveraged · GraniteShares · Inception 2025-03-07

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.

$52.88−0.35 (−0.66%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Mar 7, 2025.
Intraday session: down, 53 prints from 53.23 to 52.88. Range 50.96 to 53.13. Use the arrow keys to read each point.$51.00$51.50$52.00$52.5010 AM12 PM2 PM4 PM
Expense ratio
1.93%
Fund size
$57M
1Y return
−77.9%
Yield · Last 12 months
—
Holdings
2
Volume · 30D
0.1M sh
NAV per share
$50.56
52W range
low $22.14high $366.30

The ETF.net MRAL Grade

D

29/ 100

Rank 269 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for MRAL. Scores out of 100: Cost 4, Risk 31, Mission 68, Tradability 65, Holdings not scored, Durability 77. Strongest: Durability (77). Weakest: Cost (4). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 29 of 100 sits in the D 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 4
    Category rank365/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    BScore 68
    Category rank139/147 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 31
    Category rank224/285 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 65
    Category rank107/380 · top 28%

  • 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.
    AScore 77
    Category rank31/380 · top 8%

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

Our read on MRAL

ETF.net Research

DOne ticker, one stock, twice the daily move. MRAL aims for 2x the daily return of MARA Holdings inside an ETF wrapper, with a daily reset that makes it a trading tool rather than a set-and-forget holding.

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

  1. 01The mandate is one line: twice MARA Holdings' daily move, reset each session. No stock picking, no index committee, nothing to interpret.
  2. 02You buy it like any share. The leverage lives inside the 1940 Act fund, so no margin account or options chain on your end.
  3. 03One reference stock, one job. What moves the price is never a mystery, which is rare in the leveraged aisle.

Worth knowing

  1. 01At 1.93% a year, it sits above the roughly 1% median for 2x single-stock funds; peers such as AMDG and UNHG run 0.75%, though they double different names.
  2. 02The daily reset is the whole mechanism: over multi-day stretches, results can diverge from 2x MARA's move, and choppy tape compounds the gap.
  3. 03Launched in 2025, so the operating history is short, and income is not part of the design.

MRAL Holdings

As of Sep 21, 2026, 4:07 AM
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
MARA SWAP66.6%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—MARA SWAP66.63%7,864,723$92M1
002—US Dollars33.37%45,853,636$46M85

Showing 1–2 of 2 holdings

MRAL Performance

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

MRAL$2,214
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. MRAL $2,214. SPY $11,723. Use the arrow keys to read each point.$-74$7,338$14,749Sep 2025Mar 2026Sep 2026

Sep 22, 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 MRAL. Periods over one year show the average yearly return.
PeriodMRAL
Year to date+16.0%
1 month+35.4%
3 months−34.9%
1 year−77.9%
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 MRAL
YearReturn barMRAL
2026 YTD+16.0%
2025−83.8%

Since listing, Mar 7, 2025

MRAL in the news

MRAL Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

MRAL 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.
130.2%
Annualised · 17 months to Aug 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.
−0.12
vs 3-month T-bills · 17 months to Aug 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.
−93.5%
18 months · trough Feb 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.
7.96
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.

MRAL Cost

Expense ratio1.93%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

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

MRAL costs $193.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.