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MRNX vs OKTG

Daily Target 2X Long MRNA ETF

MRNXCNYSE Arca

Leverage Shares 2x Long OKTA Daily ETF

OKTGANasdaq

Overlap

Expense ratio

OKTG −0.59pt a year

MRNX1.34%OKTG0.75%

Avg volume · 30D

MRNX 6.9×the volume

MRNX265KOKTG38.5K

MRNX vs OKTG Performance

Jul 31, 2026 – Nov 2, 2026

+567.9%MRNX+39.8%OKTG

Jul 31, 2026 to Nov 2, 2026. MRNX +567.9%. OKTG +39.8%. Use the arrow keys to read each point.200%400%800%Jul 2026Sep 2026Nov 2026
Expense ratio
MRNX 1.34%
OKTG 0.75%, better
Fund size
MRNX $31M
OKTG $8M
Holdings
MRNX 9
OKTG 6
Avg volume (30D)
MRNX 265K sh, better
OKTG 38.5K sh
NAV per share
MRNX $163.35
OKTG $53.95
52W range

ETF.net Grade

MRNX: Cost 22, Risk 72, Mission 90, Tradability 73, Holdings not scored, Durability 66. OKTG: Cost 70, Risk 76, Mission 94, Tradability 73, Holdings not scored, Durability 51.
Pillar letters and Scores for MRNX, OKTG, with each pillar’s weight
PillarMRNXOKTG
Cost30% weightF22A70Higher
Mission25% weightA90A94Higher
Risk15% weightA72A76Higher
Tradability15% weightA73A73
Holdings10% weightNot scoredNot scored
Durability5% weightB66HigherC51

Rank among Single-Stock Long Leveraged funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. MRNX and OKTG are both graded against the same 315 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 315 funds
See all 315 ›

OKTG ranks 3rd and MRNX 92nd of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 3AOKTGLeverage Shares 2x Long OKTA Daily ETFScore 70
  4. Rank 3APANGLeverage Shares 2x Long PANW Daily ETFScore 70
  5. Rank 92CLLYXDaily Target 2X Long LLY ETFScore 48
  6. Rank 92CMRNXDaily Target 2X Long MRNA ETFScore 48
  7. Rank 92CTSMUGraniteShares 2x Long TSM Daily ETFScore 48

Our read on each fund

ETF.net Research

MRNXCDaily Target 2X Long MRNA ETF

OKTGALeverage Shares 2x Long OKTA Daily ETF

In short

MRNX Most 2x single-stock ETFs point at megacap tech. MRNX aims the same machinery at Moderna, a biotech that moves on trial data and FDA headlines, targeting two times MRNA's daily move. Built as a short-term trading tool, priced at 1.34%.

OKTG A 2x daily amplifier on Okta, the identity-security stock, in an ETF wrapper. Leverage Shares prices it at 0.75%, under the typical leveraged single-stock fund, in a corner of the market built mostly around mega-caps.

Stated mandate

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

OKTG The fund seeks daily leveraged investment results equal to 200% of the daily performance of the publicly traded common stock identified as OKTA, before fees and expenses.

Why people hold it

  • MRNX Does one job with a published number attached: two times the daily percentage change in Moderna's share price, before fees and expenses, reset at the close each trading day.defianceetfs.com
  • Delivers that exposure through swaps, with listed options as backup, inside a 1940 Act ETF you buy like any share. No margin account, no options chain to manage.defianceetfs.com
  • Has tracked its stated 2x daily target closely since its February 2026 launch, and stands in the upper half of a crowded field of leveraged single-stock bull funds.
  • OKTG Costs 0.75% a year, below the roughly 1.01% median for leveraged single-stock funds, and matches the fee on Leverage Shares' other 2x products like UNHG and ASMG.
  • Mechanically simple: it aims for 200% of Okta's daily move before fees and expenses, no margin account, options chain or share borrow involved.leverageshares.com
  • Unusual target. Most 2x single-stock ETFs point at mega-caps such as AAPU and GGLL; this one puts the same machinery on a cybersecurity name.

Worth knowing

  • MRNX At 1.34% it costs above the typical leveraged single-stock fund, and above peers such as TSMG (0.76%) and OKTG (0.75%).
  • Hold past a day and compounding takes over: longer-run returns can differ from 2x MRNA, and the prospectus warns of losses even if MRNA is flat or up over the span.sec.gov
  • One stock, one storyline. Non-diversified by design, so a trial readout or regulatory decision on Moderna lands here at double the daily force.defianceetfs.com
  • OKTG The leverage resets every day. Hold past that and returns compound, so a choppy stretch can leave you far from 2x Okta's move over the period.
  • One company, doubled. An earnings gap or a breach headline at Okta hits the fund at twice the size, with no other holdings to soften it.
  • Launched in November 2025 and still small and thinly traded, so spreads can run wider than on the long-established mega-cap leveraged funds.

Full MRNX profile⁠

Full OKTG profile⁠

MRNX vs OKTG Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

MRNX vs OKTG Cost

Overpaying MRNX vs OKTG

$9,483

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

  • MRNX 1.34%

    $23,965

  • OKTG 0.75%

    $14,482

$10,000
30 years

Cost over time

  • MRNX 1.34%
  • OKTG 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530MRNX $23,965OKTG $14,482

Year by year

YearMRNXOKTGOverpaying
10$2,329$1,336$993
20$8,621$5,078$3,543
30$23,965$14,482$9,483

Expense ratio

  • 1.34%MRNX
  • 0.75%OKTG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

OKTG 87th cheapest of 315 funds

MRNX 250th cheapest of 315 funds

MRNX vs OKTG Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
MRNX None
OKTG None

Distribution history

MRNXAll MRNX payments⁠

No distribution history available.

OKTGAll OKTG payments⁠

No distribution history available.

MRNX vs OKTG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

Market sensitivityBeta, 5 years
MRNX −1.97OKTG 2.39

Popular comparisons

  • MRNXCvsTSMGA

    Daily Target 2X Long MRNA ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
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  • OKTGAvsTSMGA

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  • MRNXCvsUNHGA

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  • OKTGAvsUNHGA

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    Expense ratio
    0.75% · 0.77%
    Category
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  • MRNXCvsPANGA

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    Expense ratio
    1.34% · 0.76%
    Category
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  • OKTGAvsPANGA

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    Expense ratio
    0.75% · 0.76%
    Category
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