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MRNX

GradeCNew York Stock Exchange Arca

Daily Target 2X Long MRNA ETF

Leveraged · Single-Stock Leveraged · Defiance · Inception 2026-02-03 · SEC filings

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.

$127.59+0.35 (+0.28%)

As of Sep 23, 2026, 3:14 PM EDT

History starts Feb 4, 2026.History starts Feb 4, 2026.
Intraday session: up, 64 prints from 127.23 to 127.59. Range 126.35 to 138.87. Use the arrow keys to read each point.$125.00$130.00$135.00$140.0010 AM12 PM2 PM4 PM
Expense ratio
1.34%
Fund size
$24M
1Y return
—
Yield · Last 12 months
—
Holdings
10
Volume · 30D
0.2M sh
NAV per share
$114.82
52W range
low $14.95high $143.84

The ETF.net MRNX Grade

C

47/ 100

Rank 97 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for MRNX. Scores out of 100: Cost 23, Risk 72, Mission 90, Tradability 65, Holdings not scored, Durability 63. Strongest: Mission (90). Weakest: Cost (23). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 47 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 23
    Category rank292/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 90
    Category rank87/147 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 72
    Category rank53/285 · top 19%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 65
    Category rank108/380 · 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.
    BScore 63
    Category rank116/380 · top 31%

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

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 Sep 20, 2026, 5:08 AM
Asset class
Other
Holdings
10
Top-10 weight
246%
Largest holding
United States Treasury Bill 11/19/202645.4%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill 11/19/202645.41%8,850,000$9M48
002—MODERNA, INC.-SWAP-JNST-L35.37%44,466$7M1
003—MODERNA INC SWAP MAREX-L33.96%42,693$7M1
004—MODERNA, INC.-SWAP-NBCB-L33.80%42,494$7M1
005—MODERNA INC SWAP NOMURA-L33.37%41,945$6M1
006—MODERNA INC SWAP CF-L31.61%39,736$6M1
007—MODERNA INC SWAP CS-L31.40%39,474$6M1
008—First American Government Obligations Fund 12/01/20310.93%179,961$180K625
009—MODERNA, INC.-SWAP-BMOB-L0.40%500$77K1

Showing 1–9 of 9 holdings

MRNX Performance

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

MRNX$40,480
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. MRNX $40,480. SPY $10,415. Use the arrow keys to read each point.$4,387$26,233$48,078Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – 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 MRNX. Periods over one year show the average yearly return.
PeriodMRNX
Year to dateFund launched this year—
1 month+45.4%
3 months+304.8%
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 MRNX
YearReturn barMRNX
2026 YTD+524.3%

History from Feb 4, 2026

MRNX in the news

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

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 Sep 22, 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%

257 of the 329 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.