- Issuer
- GraniteShares
- Inception Date
- Apr 21, 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
- $13M
Highlights
- Avg. Volume (1M)
- 133K
- Avg. Volume Value (1M)
- $4.10M
Share Price Chart
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Performance
RVNL Performance Chart
GraniteShares 2x Long RIVN Daily ETF (RVNL) is down 59.4% since the beginning of the year. RVNL is currently trading at $23 per share.
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Compare this symbol against anything
Returns By Period
GraniteShares 2x Long RIVN Daily ETF (RVNL) has returned -59.36% so far this year and -18.13% over the past 12 months.
GraniteShares 2x Long RIVN Daily ETF
- 1D
- -19.28%
- 1M
- -39.48%
- 6M
- -25.62%
- YTD
- -59.36%
- 1Y
- -18.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -11.97%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
RVNL Monthly Returns History
Based on dividend-adjusted daily data since Apr 22, 2025, RVNL's average daily return is +0.28%, while the average monthly return is +1.78%. At this rate, an investment would double in approximately 3.3 years.
Historically, 50% of months were positive and 50% were negative. The best month was Nov 2025 with a return of +42.2%, while the worst month was Jan 2026 at -45.4%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 3 months.
On a daily basis, RVNL closed higher 49% of trading days. The best single day was Feb 13, 2026 with a return of +53.0%, while the worst single day was Jul 7, 2026 at -36.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -45.35% | -0.03% | -7.68% | 16.75% | -5.73% | 6.14% | -31.01% | -59.36% | |||||
| 2025 | 37.61% | 10.28% | -12.77% | -14.74% | 8.02% | 13.86% | -17.47% | 42.17% | 28.44% | 109.17% |
Benchmark Metrics
GraniteShares 2x Long RIVN Daily ETF has an annualized alpha of -29.31%, beta of 3.49, and R2 of 0.12 versus S&P 500 Index. Calculated based on daily prices since April 22, 2025.
- This ETF participated in 178.06% of S&P 500 Index downside but only -3.58% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.12 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
- -29.31%
- Beta
- 3.49
- R²
- 0.12
- Upside Capture
- -3.58%
- Downside Capture
- 178.06%
Expense Ratio
RVNL has a high expense ratio of 1.15%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
RVNL ranks 13 for risk / return — above 13% of ETFs peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for GraniteShares 2x Long RIVN Daily ETF (RVNL) 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.
| RVNL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.25 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 2.00 | -2.34 |
| Martin ratioReturn relative to average drawdown | -0.55 | 8.49 | -9.04 |
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 RIVN 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 RIVN Daily ETF was 72.92%, occurring on May 19, 2026. The portfolio has not yet recovered.
The current GraniteShares 2x Long RIVN Daily ETF drawdown is 68.83%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-72.92%May 2026 | 4mo 28d | — | 7mo 13dDec 2025 - now | — |
-55.35%Aug 2025 | 2mo 17d | 4mo 14d | 7mo 1dMay 2025 - Dec 2025 | — |
-16.14%May 2025 | 2d | 2d | 4dMay 2025 - May 2025 | 2025 selloff2025 |
-3.96%Apr 2025 | 1d | 1d | 1dApr 2025 - Apr 2025 | 2025 selloff2025 |
-0.52%May 2025 | 1d | 1d | 1dMay 2025 - May 2025 | 2025 selloff2025 |
Drawdown Indicators
| RVNL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.92% | -56.78% | -16.14% |
Max Drawdown (1Y)Largest decline over 1 year | -72.92% | -9.10% | -63.82% |
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 | -68.83% | -1.58% | -67.25% |
Average DrawdownAverage peak-to-trough decline | -42.42% | -10.70% | -31.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.41% | 2.14% | +43.27% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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