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Launched · SEC filings

Daily Target 2X Long MRNA ETF

MRNXNYSE ArcaCThis 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.

$168.86+3.90 (+2.36%)

At close: Oct 13, 2026, 4:00 PM

C50/ 100

Rank 77 of 380 in Single-Stock Long Leveraged

C50/100Rank 77 of 380inSingle-Stock Long Leveraged
Intraday session: up, 75 prints from 164.96 to 168.86. Range 152.70 to 171.46. Use the arrow keys to read each point.155.00160.0010 AM12 PM2 PM4 PM
Expense ratio
1.34%
Fund size
$55M
1Y total return
—
Yield · Last 12 months
—
Holdings
9
Avg volume · 30D
0.2M sh
NAV per share
$183.79
52W range
low $14.95high $187.51
Launched
Filings
SEC EDGAR

The ETF.net MRNX Grade

Based on 5 of 6 pillars

C

Score 50 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
77 of 380
Six-pillar profile for MRNX. Scores out of 100: Cost 23, Risk 69, Mission 90, Tradability 80, Holdings not scored, Durability 66. Strongest: Mission (90). Weakest: Cost (23). Based on 5 of 6 pillars.

Score 50 of 100 falls in the C 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.
    F23 out of 100
    Rank 290 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A90 out of 100
    Rank 86 of 148

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B69 out of 100
    Rank 78 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A80 out of 100
    Rank 42 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.
    B66 out of 100
    Rank 83 of 380

Our read on MRNX

ETF.net Research

CTwo times Moderna's daily move in one ticker, no margin account required. A concentrated, single-name leveraged play on one of biotech's most headline-driven stocks, reset every trading day.

Stated mandate

The Fund seeks daily leveraged results equal to two times the daily percentage change in Moderna, Inc.'s share price, before fees and expenses.

Why people hold it

  1. 01One-ticker route to 2x Moderna's daily percentage move, inside a registered fund, so no margin account or options approval is involved.defianceetfs.com
  2. 02Does the one job a leveraged fund has: it has tracked its stated two-times daily target closely.
  3. 03Single-name focus, not a biotech basket. The exposure is Moderna's clinical, regulatory and earnings news, amplified.

Worth knowing

  1. 01The 2x target resets every day. Over longer holds compounding takes over, and choppy stretches can leave the fund well off 2x Moderna's move for the period.defianceetfs.com
  2. 02At 1.31%, the fee sits above several 2x single-stock peers, including GGLL at 0.96% and UNHG and ASMG at 0.75%.
  3. 03A 2026 launch that remains among the smaller, lighter-traded funds in the 2x single-stock crowd, which can show up as wider bid-ask spreads.

MRNX Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
9
Top-10 weight
239%
Largest holding
Moderna Inc Swap Cs-L39.6%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Moderna Inc Swap Cs-L39.56%82,562$18M1
002—Moderna Inc Swap Cf-L37.42%78,081$17M1
003—Moderna, Inc.-Swap-Jnst-L34.00%70,943$15M1
004—Moderna Inc Swap Nomura-L30.75%64,165$14M1
005—Moderna, Inc.-Swap-Nbcb-L29.64%61,858$13M1
006—United States Treasury Bill 11/19/202628.69%12,850,000$13M56
007—Moderna Inc Swap Marex-L22.65%47,276$10M1
008—First American Government Obligations Fund 12/01/20319.97%4,447,725$4M529
009—Moderna, Inc.-Swap-Bmob-L6.00%12,517$3M1

Showing 1–9 of 9 holdings

MRNX Performance

Launched Feb 3, 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.
MRNX$42,308
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. MRNX $42,308. SPY $10,332. Use the arrow keys to read each point.$2,671$26,556$50,440Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 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 MRNX. Periods over one year show the average yearly return.
PeriodMRNX
Year to dateFund launched this year—
1 month+102.6%
3 months+323.1%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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 MRNX
YearReturn barMRNX
2026 YTD+709.4%

History from Feb 4, 2026

MRNX in the news

Filtered to MRNX · Single-Stock Long Leveraged

MRNX 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 Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Feb 2026. No distributions yet.

MRNX 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 Feb 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 Feb 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 Feb 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.
−1.97
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.

MRNX Cost

Expense ratio1.34%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

261 of the 333 Single-Stock Long Leveraged funds charge less.

MRNX costs $134.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.

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