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Launched

GraniteShares 2x Long RIVN Daily ETF

RVNLNasdaqGraniteSharesCThis 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.

$17.31−0.43 (−2.44%)

As of Nov 10, 2026, 11:21 AM ET

C52/ 100

Rank 83 of 367 in Single-Stock Long Leveraged

C52/100Rank 83 of 367inSingle-Stock Long Leveraged
Intraday session: down, 23 prints from 17.74 to 17.31. Range 17.20 to 18.32. Use the arrow keys to read each point.17.5018.0018.2510 AM12 PM2 PM4 PM
Expense ratio
1.22%*
Fund size
$14M
1Y total return
−52.6%
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
109K sh
52W range
low $11.96high $75.17
Launched

*After a fee waiver that ends Dec 31, 2027. Without it: 1.59%.

The ETF.net RVNL Grade

Based on 5 of 6 pillars

C

Score 52 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
83 of 367
Six-pillar profile for RVNL. Scores out of 100: Cost 38, Risk 56, Mission 95, Tradability 74, Holdings not scored, Durability 70. Strongest: Mission (95). Weakest: Cost (38). Based on 5 of 6 pillars.

Score 52 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.
    D38 out of 100
    Rank 226 of 367

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A95 out of 100
    Rank 44 of 143

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B56 out of 100
    Rank 130 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A74 out of 100
    Rank 71 of 367

  • 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.
    A70 out of 100
    Rank 60 of 367

Our read on RVNL

ETF.net Research

In short

COne lever, one stock: RVNL aims to deliver 2x Rivian's daily move, reset every trading day. The fee is 1.15% net of a waiver through December 31, 2026, against a 7.90% gross.

Stated mandate

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

  • Sticks closely to its stated 2x daily target, one of the stronger implementations in a crowded field of 2x single-stock funds.
  • Leverage comes from swap agreements held inside the fund, so the amplified exposure sits in an ordinary brokerage account instead of a margin account.sec.gov
  • Most single-stock leverage points at mega-caps. This one aims at Rivian, the electric-vehicle maker, in a ticker that trades like a stock.graniteshares.com

Worth knowing

  • The 2x target resets daily. Hold longer and the result can drift well away from twice Rivian's move over the same stretch, especially in choppy markets.
  • At 1.15%, net of a waiver through December 31, 2026, the fee sits above the category median. Gross is 7.90%, so the waiver is doing real work.
  • Swap-based leverage carries counterparty risk, the fund is small by category standards, and it has made no distributions since launching in 2025.sec.gov

RVNL Holdings

Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
RIVN66.6%

Sectors

  • Consumer Discretionary100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1RIVNRivn66.65%1,987,404$27M175
2No dataUS Dollars33.35%13,535,105$13.5M85

Showing 1–2 of 2 holdings

RVNL Performance

Launched Apr 21, 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.
RVNL$4,737
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. RVNL $4,737. SPY $11,339. Use the arrow keys to read each point.$5,000$10,000$15,000$20,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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 RVNL. Periods over one year show the average yearly return.
PeriodRVNL
Year to date−68.6%
1 month−3.3%
3 months−29.7%
1 year−52.6%
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 RVNL
YearReturn barRVNL
2026 YTD−68.6%
2025+117.8%

History from Apr 22, 2025

RVNL in the news

RVNL Dividends

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

No distributions in the last 12 months.

RVNL Risk

Risk pillarB56 out of 100Rank 130 of 363 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.
77.6%
Annualised · 18 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.
−0.50
vs 3-month T-bills · 18 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.
−83.6%
18 months · trough Oct 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.
0.73
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.

RVNL Cost

Compare RVNL and GOGL

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

$18,003

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

  • RVNL 1.22%

    $22,158

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • RVNL 1.22%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530RVNL $22,158GOGL $4,155

Year by year

YearRVNLGOGLOverpaying
10$2,131$365$1,766
20$7,931$1,421$6,510
30$22,158$4,155$18,003
How the 1.22% is worked out

Full fee 1.59%− waiver 0.37%= you pay 1.22%

The waiver ends Dec 31, 2027. After that the fee is 1.59% unless GraniteShares renews it. Source: prospectus, Oct 2026.

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