- Issuer
- GraniteShares
- Inception Date
- Jun 9, 2025
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Assets Under Management
- $7M
Share Price Chart
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Performance
MSTP Performance Chart
GraniteShares 2x Long MSTR Daily ETF (MSTP) is down 63.8% since the beginning of the year. MSTP is currently trading at $20 per share.
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Returns By Period
GraniteShares 2x Long MSTR Daily ETF (MSTP) has returned -63.83% so far this year and -95.50% over the past 12 months.
GraniteShares 2x Long MSTR Daily ETF
- 1D
- -6.94%
- 1M
- -53.52%
- YTD
- -63.83%
- 6M
- -69.41%
- 1Y
- -95.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
MSTP Monthly Returns History
Based on dividend-adjusted daily data since Jun 10, 2025, MSTP's average daily return is -0.85%, while the average monthly return is -17.17%.
Historically, 15% of months were positive and 85% were negative. The best month was Apr 2026 with a return of +65.8%, while the worst month was Nov 2025 at -59.1%. The longest winning streak lasted 1 consecutive months, and the longest losing streak was 9 months.
On a daily basis, MSTP closed higher 43% of trading days. The best single day was Feb 6, 2026 with a return of +53.5%, while the worst single day was Feb 5, 2026 at -34.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -8.03% | -35.11% | -11.66% | 65.79% | -12.28% | -52.82% | -63.83% | ||||||
| 2025 | 3.79% | -4.65% | -34.35% | -10.19% | -34.18% | -59.09% | -30.46% | -89.07% |
Benchmark Metrics
GraniteShares 2x Long MSTR Daily ETF has an annualized alpha of -96.69%, beta of 5.80, and R2 of 0.26 versus S&P 500 Index. Calculated based on daily prices since June 10, 2025.
- This ETF participated in 451.45% of S&P 500 Index downside but only -182.12% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.26 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -96.69%
- Beta
- 5.80
- R²
- 0.26
- Upside Capture
- -182.12%
- Downside Capture
- 451.45%
Expense Ratio
MSTP has a high expense ratio of 1.50%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MSTP ranks 2 for risk / return — in the bottom 2% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for GraniteShares 2x Long MSTR Daily ETF (MSTP) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MSTP | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -4.65 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.35 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 2.66 | -3.64 |
| Martin ratioReturn relative to average drawdown | -1.24 | 11.86 | -13.10 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the GraniteShares 2x Long MSTR Daily ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the GraniteShares 2x Long MSTR Daily ETF was 96.92%, occurring on Jun 18, 2026. The portfolio has not yet recovered.
The current GraniteShares 2x Long MSTR Daily ETF drawdown is 96.92%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -96.92%Jun 2026 | 11mo 6d | — | 11mo 10dJul 2025 - now |
2025 correction2025 | -15.10%Jul 2025 | 0s | 8d | 8dJul 2025 - Jul 2025 |
2025 selloff2025 | -13.15%Jun 2025 | 13d | 7d | 20dJun 2025 - Jun 2025 |
2025 pullback2025 | -4.16%Jul 2025 | 0s | 1d | 1dJul 2025 - Jul 2025 |
Drawdown Indicators
| MSTP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.92% | -56.78% | -40.14% |
Max Drawdown (1Y)Largest decline over 1 year | -96.92% | -9.10% | -87.82% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -96.92% | -2.49% | -94.43% |
Average DrawdownAverage peak-to-trough decline | -69.51% | -10.72% | -58.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 76.95% | 2.03% | +74.92% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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