Launch Roundup
Subversive ETFs listed S&P 500 and Nasdaq-100 funds that exclude Elon Musk's companies
GraniteShares 2x Long RIVN Daily ETF
DThis 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.
$16.71−0.40 (−2.33%)
- 7.90%
- $13M
- −39.0%
- 0.1M sh
- $17.13
- low $17.10high $75.17
The ETF.net RVNL Grade
D
Score 33 out of 100
- 306 of 380
Score 33 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.F0 out of 100Rank 377 of 380Mission
Whether the fund did what it promised, tested against its stated mandate.A94 out of 100Rank 54 of 148Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C51 out of 100Rank 162 of 363Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A70 out of 100Rank 85 of 380Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B66 out of 100Rank 83 of 380
Our read on RVNL
DOne ticker that aims for two times Rivian's daily move, no margin account or options chain needed. It has hewed closely to that daily mandate since its 2025 launch, and it charges one of the steepest fees in the 2x single-stock crowd.
The Fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change of Rivian Automotive Inc. It is not designed to deliver twice the cumulative return over periods longer than one day.
Why people hold it
- Packages 2x daily exposure to a single EV maker into an ordinary ETF trade: no margin account, no options, no borrow to arrange.graniteshares.com
- Does the job it advertises: day to day, the fund has tracked its stated two-times target on Rivian closely.
- Leverage is reset daily inside the fund, so the position is rebuilt each session and there is no margin call to answer.
Worth knowing
- The 7.90% expense ratio is many multiples of what a typical 2x single-stock ETF charges, and it bites every day you hold.
- Daily reset means path matters. The fund is not designed to deliver twice Rivian's return over any period longer than one day, and choppy stretches erode compounded results.graniteshares.com
- One stock, levered twice: no diversification, and the fund is young (launched 2025) with a small asset base relative to its peer group.
RVNL Holdings
- Other
- 2
- 100%
- RIVN
Sectors
- Consumer Discretionary100.0%
Geography
- United States100.00%
RVNL Performance
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.
RVNL$6,098
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.
| Period | RVNL |
|---|---|
| Year to date | −69.7% |
| 1 month | −30.4% |
| 3 months | −45.4% |
| 1 year | −39.0% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | RVNL |
|---|---|---|
| 2026 YTD | −69.7% | |
| 2025 | +117.8% |
RVNL in the news
RVNL Dividends
No distributions in the last 12 months.
RVNL 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.
- 74.2%
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.
- −0.20
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.
- −76.8%
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.
- 0.73
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
RVNL Cost
7.90%
RVNL7.90%
- The middle half of Single-Stock Long Leveraged funds
- Median 0.98%
Every other Single-Stock Long Leveraged fund charges less.
Other funds in Single-Stock Long Leveraged
- DOSCXDefiance Daily Target 2X Long OSCR ETFExpense ratio 1.32%1 year return +53.2%
- DPLUDaily Target 2X Long PL ETFExpense ratio 1.42%1 year return —
- DPATXTradr 2X Long PATH Daily ETFExpense ratio 1.49%1 year return —
- DSOUXDaily Target 2X Long SOUN ETFExpense ratio 1.32%1 year return −96.6%
- DTDCLGraniteShares 2x Long TDC Daily ETFExpense ratio 1.50%1 year return —