# MSFL (GraniteShares 2x Long MSFT Daily ETF)

GraniteShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: MSFL returned +68.3% where its own daily promise gave +72.9%, 4.6 points short.

## Key facts

- MSFL, what MSFT did: +33.7%, as of Sep 30, 2026.
- MSFL, what 2 times a day gives: +72.9%, as of Sep 30, 2026.
- MSFL, what the fund returned: +68.3%, as of Sep 30, 2026.
- MSFL, the fund itself cost: −4.6 pts, as of Sep 30, 2026.
- MSFL, net assets: $67m (issuer page, as of Sep 30, 2026).
- MSFL, expense ratio: 1.15% (485BPOS XBRL, Oct 24, 2025).

## MSFL over each window to Sep 30, 2026

| Window | Fund | MSFT | +2x the move | Difference | MSFT moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +0.8% | +1.1% | +2.2% | −1.4 pts | 24% |
| 3 months | +68.3% | +33.7% | +67.4% | +0.8 pts | 39% |
| 6 months | +73.1% | +39.4% | +78.8% | −5.8 pts | 37% |
| 1 year | −17.6% | −0.2% | −0.3% | −17.3 pts | 33% |
| Since launch | +2.8% | +25.3% | +50.6% | −47.8 pts | 27% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of MSFT, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.03 times, against +2 stated | ETFIQ |
| Underlying | MSFT | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $67m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.15% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Mar 18, 2024 | ETFIQ |
| Underlying volatility over the window | 39% annualized | ETFIQ |

## Questions

### Did MSFL return +2 times MSFT?

Over the window to Sep 30, 2026, MSFT moved +33.7% and MSFL returned +68.3%. 2 times that move is +67.4%, so the fund came out 0.8 points ahead of it.

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

Because it resets daily. MSFL 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 MSFT ETF tracked its stated multiple most closely?

4 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 figure itself.


## Cite this page

ETFIQ, MSFL, data as of Sep 30, 2026. https://etfiq.com/funds/msfl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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