SMAX vs MRAL

Comparison between ISHARES LARGE CAP MAX BUFFER SEP ETF (SMAX, ETF) and GRANITESHARES 2X LONG MARA DAILY ETF (MRAL, ETF).

SMAX vs MRAL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SMAX(ETF)	MRAL(ETF)
Net Assets	$93M	$93M
Expense Ratio	0.50%	N/A
Max Drawdown	3.90%	93.46%
Sharpe Ratio	1.73	0.06
5Y Beta	0.19	4.81

Net Assets

Winner

SMAX

$93M

MRAL

$93M

Expense Ratio

SMAX

0.50%

MRAL

N/A

Max Drawdown

Winner

SMAX

3.90%

MRAL

93.46%

Sharpe Ratio

Winner

SMAX

1.73

MRAL

0.06

5Y Beta

Winner

SMAX

0.19

MRAL

4.81

SMAX vs MRAL - Historical Returns

Returns include dividend reinvestment.

Period	SMAX	MRAL
1 month	+0.47%	+14.87%
3 months	+3.00%	+115.36%
6 months	+3.40%	-4.27%
1 year	+8.49%	-63.78%
Max(CAGR)	+7.10%	-65.32%

SMAX

+0.47%

Winner

MRAL

+14.87%

SMAX

+3.00%

Winner

MRAL

+115.36%

Winner

SMAX

+3.40%

MRAL

-4.27%

Winner

SMAX

+8.49%

MRAL

-63.78%

Max(CAGR)

Winner

SMAX

+7.10%

MRAL

-65.32%

SMAX vs MRAL - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	SMAX	MRAL
2026	+2.96%	+34.30%
2025	+7.88%	-83.75%
2024	+1.02%	N/A

SMAX vs MRAL Drawdown Comparison

The maximum drawdown for SMAX was -3.90%, occurring on Apr 8, 2025. Recovery took 60 trading sessions.

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

The current SMAX drawdown is -0.23%. The current MRAL drawdown is -78.77%.

Rank	SMAX	MRAL
#1	-3.90% Feb 20, 2025 - May 16, 2025	-93.46% Oct 15, 2025 - Feb 5, 2026
#2	-1.91% Feb 25, 2026 - Apr 13, 2026	-62.51% Mar 7, 2025 - Jul 10, 2025
#3	-0.81% Oct 28, 2025 - Nov 26, 2025	-46.29% Jul 17, 2025 - Oct 14, 2025
#4	-0.72% May 19, 2025 - Jun 2, 2025	-4.81% Jul 14, 2025 - Jul 16, 2025
#5	-0.71% Dec 11, 2024 - Dec 24, 2024	N/A
#6	-0.63% Jun 2, 2026 - Jun 10, 2026	N/A
#7	-0.61% Jan 9, 2026 - Jan 26, 2026	N/A
#8	-0.57% Dec 24, 2024 - Jan 15, 2025	N/A
#9	-0.56% Oct 22, 2024 - Nov 6, 2024	N/A
#10	-0.54% Feb 2, 2026 - Feb 9, 2026	N/A
#11	-0.53% Jul 28, 2025 - Aug 8, 2025	N/A
#12	-0.52% Nov 8, 2024 - Nov 29, 2024	N/A
#13	-0.48% Feb 9, 2026 - Feb 25, 2026	N/A
#14	-0.45% Oct 8, 2025 - Oct 20, 2025	N/A
#15	-0.39% Dec 11, 2025 - Dec 22, 2025	N/A

Correlation

Correlation between SMAX and MRAL is -0.55 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.55

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