# NTAL (GraniteShares 2x Long NTAP Daily ETF)

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

One month to Sep 11, 2026: NTAL returned −5.0% where its own daily promise gave −4.1%, 0.9 points short.

## Key facts

- NTAL, what NTAP did: −1.4%, as of Sep 11, 2026.
- NTAL, what +2 times a day gives: −4.1%, as of Sep 11, 2026.
- NTAL, what the fund returned: −5.0%, as of Sep 11, 2026.
- NTAL, the fund itself cost: −0.9 pts, as of Sep 11, 2026.
- NTAL, expense ratio: 1.50% (485BPOS XBRL, May 26, 2026).
- NTAL, underlying: NTAP, as of Sep 11, 2026.

## NTAL over each window to Sep 11, 2026

| Window | Fund | NTAP | +2x the move | Difference | NTAP moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −5.0% | −1.4% | −2.7% | −2.3 pts | 42% |
| Since launch | +24.3% | +14.2% | +28.3% | −4.1 pts | 42% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of NTAP, reset daily | ETFIQ |
| Multiple a holder actually got over the window | NTAP moved −1.4% over this window, too little to read a multiple from | ETFIQ |
| Underlying | NTAP | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Expense ratio | 1.50% | 485BPOS XBRL, May 26, 2026 |
| Launched | Jul 14, 2026 | ETFIQ |
| Underlying volatility over the window | 42% annualized | ETFIQ |

## Questions

### Did NTAL return +2 times NTAP?

Over the window to Sep 11, 2026, NTAP moved −1.4% and NTAL returned −5.0%. 2 times that move is −2.7%, so the fund came out 2.3 points short of it.

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

Because it resets daily. NTAL 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.


## Cite this page

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

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