Which came closer to its stated multiple, RIVC or RVNL?

Over the window to Sep 30, 2026, RIVC finished 0.8 points from what its multiple implies and RVNL finished 9.1 points from its own, so RIVC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are RIVC and RVNL levered on the same thing?

Yes. Both are levered on Rivian Automotive, RIVC at +2 times and RVNL at +2 times the daily move.

Which one decays faster, RIVC or RVNL?

Decay follows how much the underlying moves about. Over this window RIVC’s moved at 30% annualized and RVNL’s at 64%, so RVNL has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold RIVC or RVNL for a year?

Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Which is cheaper, RIVC or RVNL?

RIVC charges 0.45% a year and RVNL charges 1.15%, so RIVC is cheaper. Fees come from each fund's prospectus.

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RIVC vs RVNL: which held to its multiple?

Over the days both have traded, RIVC finished 0.8 points from its stated multiple and RVNL 1.1. Corgi RIVN 2x Daily ETF and GraniteShares 2x Long RIVN Daily ETF.

−31.9%

RIVC returned, since launch

−35.2%

RVNL returned, 3 months

−2.6 pts

RIVC from its stated multiple

−9.1 pts

RVNL from its stated multiple

RIVC · 1 month to Sep 30, 20260.8 pts short of its stated multiple

RIVC returned −14.7% while 2 times RIVN's move would have been −13.9%

RVNL · 3 months to Sep 30, 20269.1 pts short of its stated multiple

RVNL returned −35.2% while 2 times RIVN's move would have been −26.1%

Performance, window by window

	Total return		Multiple would give		Difference
Window	RIVC	RVNL	RIVC	RVNL	RIVC	RVNL
1 month	−14.7%	−15.0%	−13.9%	−13.9%	−0.8 pts	−1.1 pts
3 months	not published	−35.2%	not published	−26.1%	not published	−9.1 pts
6 months	not published	−24.9%	not published	0.0%	not published	−24.9 pts
1 year	not published	−43.7%	not published	+3.5%	not published	−47.2 pts
Since launch RIVC Jul 2026 · RVNL Apr 2025	−31.9%	−18.6%	−29.3%	+63.0%	−2.6 pts	−81.6 pts

RIVC and RVNL over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

RIVC

Corgi RIVN 2x Daily ETF · Aims to return twice the daily move of Rivian Automotive (RIVN)

RVNL

GraniteShares 2x Long RIVN Daily ETF · Aims to return twice the daily move of Rivian Automotive (RIVN)

Issuer Corgi GraniteShares

Sets out to return +2x +2x

Underlying asset RIVN RIVN

Segment company company

Fund returned, 3 months or since launch −14.7% −35.2%

Underlying returned, over that window −7.0% −13.0%

What the stated multiple implies, over that window −13.9% −26.1%

Difference from stated, over that window −0.8 pts −9.1 pts

Fund returned, 1 year or since launch −31.9% −43.7%

Difference from stated, over that window −2.6 pts −47.2 pts

Underlying volatility 30% 64%

Difference over the days both have traded −0.8 pts −1.1 pts

Expense ratio 0.45% 1.15%

Launched Jul 14, 2026 Apr 22, 2025

Net assets $259,264 $11m

RIVC and RVNL on the same fields, as of Sep 30, 2026. Source: ETFIQ.

RIVC in plain words

One month to Sep 30, 2026: RIVC returned −14.7% where its own daily promise gave −14.1%, 0.6 points short. Read the multiple against the whole window instead and 2 times RIVN's −7.0% implies −13.9%, which makes RIVC look 0.8 points short. 0.2 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. RIVC aims to return +2 times RIVN's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. RIVN moved at 30% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

RVNL in plain words

Three months to Sep 30, 2026: RVNL returned −35.2% where its own daily promise gave −32.8%, 2.4 points short. Read the multiple against the whole window instead and 2 times RIVN's −13.0% implies −26.1%, which makes RVNL look 9.1 points short. 6.7 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. RVNL aims to return +2 times RIVN's move each day, then resets. RIVN moved at 64% annualized over that window.

Questions people ask

Which came closer to its stated multiple, RIVC or RVNL?: Over the window to Sep 30, 2026, RIVC finished 0.8 points from what its multiple implies and RVNL finished 9.1 points from its own, so RIVC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are RIVC and RVNL levered on the same thing?: Yes. Both are levered on Rivian Automotive, RIVC at +2 times and RVNL at +2 times the daily move.
Which one decays faster, RIVC or RVNL?: Decay follows how much the underlying moves about. Over this window RIVC’s moved at 30% annualized and RVNL’s at 64%, so RVNL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold RIVC or RVNL for a year?: Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Which is cheaper, RIVC or RVNL?: RIVC charges 0.45% a year and RVNL charges 1.15%, so RIVC is cheaper. Fees come from each fund's prospectus.

Other comparisons

RIVC on its own →RVNL on its own →How every figure is computed →Standards and sources →

Where these figures came from

RIVC filings on SEC EDGAR ↗RIVC prospectus with the expense ratio (SEC) ↗Corgi website ↗RVNL filings on SEC EDGAR ↗RVNL prospectus with the expense ratio (SEC) ↗GraniteShares page for RVNL ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, RIVC against RVNL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/rivc-vs-rvnl

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.