MRAL vs SPXN

Comparison between GRANITESHARES 2X LONG MARA DAILY ETF (MRAL, ETF) and PROSHARES S&P 500 EX-FINANCIALS ETF (SPXN, ETF).

MRAL vs SPXN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MRAL(ETF)	SPXN(ETF)
Net Assets	$74M	$74M
Expense Ratio	N/A	0.09%
Max Drawdown	93.46%	32.10%
Sharpe Ratio	-0.06	1.74
5Y Beta	4.77	1.01
P/E Ratio	N/A	32.14
Forward P/E	N/A	23.65
5Y Dividends CAGR	N/A	10.46%
5Y EPS CAGR	N/A	28.44%
Debt to Equity	N/A	26.91%
P/S Ratio	N/A	3.77
P/B Ratio	N/A	7.13

Net Assets

MRAL

$74M

Winner

SPXN

$74M

Expense Ratio

MRAL

N/A

SPXN

0.09%

Max Drawdown

MRAL

93.46%

Winner

SPXN

32.10%

Sharpe Ratio

MRAL

-0.06

Winner

SPXN

1.74

5Y Beta

MRAL

4.77

Winner

SPXN

1.01

P/E Ratio

MRAL

N/A

SPXN

32.14

Forward P/E

MRAL

N/A

SPXN

23.65

5Y Dividends CAGR

MRAL

N/A

SPXN

10.46%

5Y EPS CAGR

MRAL

N/A

SPXN

28.44%

Debt to Equity

MRAL

N/A

SPXN

26.91%

P/S Ratio

MRAL

N/A

SPXN

3.77

P/B Ratio

MRAL

N/A

SPXN

7.13

MRAL vs SPXN - Historical Returns

Returns include dividend reinvestment.

Period	MRAL	SPXN
1 month	-2.81%	+2.09%
3 months	+64.74%	+9.58%
6 months	-28.23%	+9.61%
1 year	-68.31%	+29.81%
5 years(CAGR)	N/A	+14.25%
10 years(CAGR)	N/A	+15.92%
Max(CAGR)	-71.95%	+15.77%

MRAL

-2.81%

Winner

SPXN

+2.09%

Winner

MRAL

+64.74%

SPXN

+9.58%

MRAL

-28.23%

Winner

SPXN

+9.61%

MRAL

-68.31%

Winner

SPXN

+29.81%

5Y(CAGR)

MRAL

N/A

SPXN

+14.25%

10Y(CAGR)

MRAL

N/A

SPXN

+15.92%

Max(CAGR)

MRAL

-71.95%

Winner

SPXN

+15.77%

MRAL vs SPXN - Annual Returns (2015 - 2026)

Returns include dividend reinvestment.

Year	MRAL	SPXN
2026	+5.25%	+10.24%
2025	-83.75%	+18.96%
2024	N/A	+25.34%
2023	N/A	+29.18%
2022	N/A	-19.22%
2021	N/A	+28.89%
2020	N/A	+21.06%
2019	N/A	+30.83%
2018	N/A	-3.87%
2017	N/A	+20.84%
2016	N/A	+9.38%
2015	N/A	+8.82%

MRAL vs SPXN Drawdown Comparison

The maximum drawdown for MRAL was -93.46%, occurring on Feb 5, 2026. This drawdown has not yet recovered.

The maximum drawdown for SPXN was -32.10%, occurring on Mar 23, 2020. Recovery took 105 trading sessions.

The current MRAL drawdown is -83.36%. The current SPXN drawdown is -3.50%.

Rank	MRAL	SPXN
#1	-93.46% Oct 15, 2025 - Feb 5, 2026	-32.10% Feb 19, 2020 - Jul 20, 2020
#2	-62.51% Mar 7, 2025 - Jul 10, 2025	-24.46% Dec 29, 2021 - Dec 8, 2023
#3	-46.29% Jul 17, 2025 - Oct 14, 2025	-19.56% Feb 19, 2025 - Jun 26, 2025
#4	-4.81% Jul 14, 2025 - Jul 16, 2025	-18.59% Sep 26, 2018 - Apr 1, 2019
#5	N/A	-11.83% Dec 22, 2015 - May 11, 2016
#6	N/A	-9.77% Sep 2, 2020 - Nov 16, 2020
#7	N/A	-9.26% Jan 28, 2026 - Apr 14, 2026
#8	N/A	-9.22% Jul 16, 2024 - Sep 19, 2024
#9	N/A	-7.06% Apr 30, 2019 - Jun 20, 2019
#10	N/A	-6.25% Mar 9, 2018 - Jun 4, 2018
#11	N/A	-5.94% Jul 26, 2019 - Oct 25, 2019
#12	N/A	-5.72% Sep 3, 2021 - Oct 26, 2021
#13	N/A	-5.56% Oct 29, 2025 - Jan 9, 2026
#14	N/A	-5.50% Mar 28, 2024 - May 14, 2024
#15	N/A	-5.33% Feb 12, 2021 - Mar 29, 2021

Correlation

Correlation between MRAL and SPXN is -0.50 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.50

-101