# NTAL (GraniteShares 2x Long NTAP Daily ETF)

GraniteShares · Leveraged ETFs · data as of Oct 9, 2026

One month to Oct 9, 2026: NTAL returned +61.3% where its own daily promise gave +62.5%, 1.2 points short.

## Key facts

- NTAL, what NTAP did: +28.6%, as of Oct 9, 2026.
- NTAL, what 2 times a day gives: +62.5%, as of Oct 9, 2026.
- NTAL, what the fund returned: +61.3%, as of Oct 9, 2026.
- NTAL, the fund itself cost: −1.2 pts, as of Oct 9, 2026.
- NTAL, net assets: $2m (issuer page, as of Oct 8, 2026).
- NTAL, expense ratio: 1.50% (485BPOS XBRL, May 26, 2026).

## NTAL over each window to Oct 9, 2026

| Window | Fund | NTAP | +2x the move | Difference | NTAP moved about, annualized |
| --- | --- | --- | --- | --- | --- |
| 1 month | +61.3% | +28.6% | +57.3% | +4.0 pts | 44% |
| Since launch | +73.3% | +36.2% | +72.3% | +0.9 pts | 41% |

## 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 | +2.14 times, against +2 stated | ETFIQ |
| Underlying | NTAP | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $2m | issuer page, as of Oct 8, 2026 |
| Expense ratio | 1.50% | 485BPOS XBRL, May 26, 2026 |
| First traded | Jul 14, 2026 | ETFIQ |
| Underlying volatility over the window | 44% annualized | ETFIQ |

## Questions

### Did NTAL return +2 times NTAP?

Over the month to Oct 9, 2026, NTAP moved +28.6% and NTAL returned +61.3%. 2 times that move is +57.3%, so the fund came out 4.0 points ahead of it. Against its own daily promise, 2 times each day's move compounded, it was 1.2 points short.

### 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, leveraged ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/ntal
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at https://etfiq.com/data/.

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