# MRAL (GraniteShares 2x Long MARA Daily ETF)

GraniteShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: MRAL returned −43.0% where its own daily promise gave −40.5%, 2.5 points short.

## Key facts

- MRAL, what MARA did: −14.9%, as of Sep 11, 2026.
- MRAL, what +2 times a day gives: −40.5%, as of Sep 11, 2026.
- MRAL, what the fund returned: −43.0%, as of Sep 11, 2026.
- MRAL, the fund itself cost: −2.5 pts, as of Sep 11, 2026.
- MRAL, net assets: $72m (source, as filed for Jun 30, 2026).
- MRAL, expense ratio: 1.50% (485BPOS XBRL, Oct 24, 2025).

## MRAL over each window to Sep 11, 2026

| Window | Fund | MARA | +2x the move | Difference | MARA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +40.4% | +24.3% | +48.5% | −8.2 pts | 98% |
| 3 months | −43.0% | −14.9% | −29.8% | −13.1 pts | 91% |
| 6 months | +8.8% | +28.5% | +57.1% | −48.3 pts | 84% |
| 1 year | −76.4% | −23.7% | −47.5% | −28.9 pts | 87% |
| Since launch | −85.1% | −25.2% | −50.4% | −34.6 pts | 85% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of MARA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.88 times, against +2 stated | ETFIQ |
| Underlying | MARA | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $72m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.50% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Mar 7, 2025 | ETFIQ |
| Underlying volatility over the window | 91% annualized | ETFIQ |

## Questions

### Did MRAL return +2 times MARA?

Over the window to Sep 11, 2026, MARA moved −14.9% and MRAL returned −43.0%. 2 times that move is −29.8%, so the fund came out 13.1 points short of it.

### Why does MRAL not return +2 times over a year?

Because it resets daily. MRAL aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which +2x MARA ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic.


## Cite this page

ETFIQ, MRAL, data as of Sep 11, 2026. https://etfiq.com/funds/MRAL
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/MRAL  ·  JSON: https://etfiq.com/funds/MRAL.json