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Launched

GraniteShares 2x Long MRVL Daily ETF

MVLLNasdaqGraniteSharesCThis 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.

$13.49−4.56 (−25.26%)

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

C41/ 100

Rank 129 of 380 in Single-Stock Long Leveraged

C41/100Rank 129 of 380inSingle-Stock Long Leveraged
Intraday session: down, 79 prints from 18.05 to 13.49. Range 13.02 to 17.20. Use the arrow keys to read each point.15.0016.0017.0010 AM12 PM2 PM4 PM
Expense ratio
1.97%*
Fund size
$227M
1Y total return
+91.2%
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
3.3M sh
52W range
low $4.83high $77.67
Launched

*After a fee waiver that ends Dec 31, 2027. Without it: 1.99%.

The ETF.net MVLL Grade

Based on 5 of 6 pillars

C

Score 41 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
129 of 380
Six-pillar profile for MVLL. Scores out of 100: Cost 0, Risk 60, Mission 99, Tradability 93, Holdings not scored, Durability 81. Strongest: Mission (99). Weakest: Cost (0). Based on 5 of 6 pillars.

Score 41 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.
    F0 out of 100
    Rank 377 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A99 out of 100
    Rank 4 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B60 out of 100
    Rank 113 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A93 out of 100
    Rank 9 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.
    A81 out of 100
    Rank 16 of 380

Our read on MVLL

ETF.net Research

In short

CTwo times Marvell's daily move, reset every night. Trading since March 2025, MVLL is the longer-running of the two 2x MRVL funds, and it charges 1.50% net of a waiver through December 31, 2026.

Stated mandate

The Fund seeks daily investment results, before fees and expenses, equal to twice the daily percentage change of Marvell Technology, Inc.

Why people hold it

  • The mandate is literal: twice the daily percentage change of Marvell Technology stock, before fees. Day to day, the fund has stuck closely to that stated target.graniteshares.com
  • Actively traded by the standards of single-stock leverage, and it prices well on the exchange, which matters for the in-and-out trading this structure is built around.
  • Live since March 7, 2025, giving it a longer operating record than Direxion's MRVU, the other 2x MRVL fund, which launched in February 2026.graniteshares.comdirexion.com

Worth knowing

  • Cost is the trade-off: 1.50% net of a waiver through December 31, 2026 (2.52% gross), above the category median and above MRVU's 0.97%, net of a waiver through September 1, 2027.
  • The 2x target resets every day. Hold past that and compounding takes the wheel, so multi-day results can land far from twice MRVL's move, especially after choppy stretches.graniteshares.com
  • One stock, no diversification cushion. A single earnings night at Marvell drives the whole fund, doubled, in either direction.graniteshares.com

MVLL Holdings

Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
MRVL66.7%

Sectors

  • Technology100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1MRVLMrvl66.67%2,071,599$452M478
2No dataUS Dollars33.33%226,112,496$226M85

Showing 1–2 of 2 holdings

MVLL 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.
MVLL$19,121
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. MVLL $19,121. SPY $11,199. Use the arrow keys to read each point.$10,000$25,000$50,000$75,000Oct 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 MVLL. Periods over one year show the average yearly return.
PeriodMVLL
Year to date+151.4%
1 month−49.6%
3 months−11.2%
1 year+91.2%
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 MVLL
YearReturn barMVLL
2026 YTD+151.4%
2025−10.1%

Since listing, Mar 7, 2025

MVLL in the news

MVLL Dividends

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

No distributions in the last 12 months.

MVLL Risk

Risk pillarB60 out of 100Rank 113 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.
186.4%
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.
1.11
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.
−78.9%
19 months · trough Jul 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.
7.79
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.

MVLL Cost

Compare MVLL and GOGL

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

$28,376

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

  • MVLL 1.97%

    $32,531

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • MVLL 1.97%
  • 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$30K$40K051015202530MVLL $32,531GOGL $4,155

Year by year

YearMVLLGOGLOverpaying
10$3,336$365$2,971
20$12,012$1,421$10,591
30$32,531$4,155$28,376
How the 1.97% is worked out

Full fee 1.99%− waiver 0.02%= you pay 1.97%

The waiver ends Dec 31, 2027. After that the fee is 1.99% unless GraniteShares renews it. Source: prospectus, Oct 2026.

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