BSSX vs. MRAL

Last updated Jun 23, 2026

BSSX (Invesco BulletShares 2033 Municipal Bond ETF) and MRAL (GraniteShares 2x Long MARA Daily ETF) are both exchange-traded funds - BSSX is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2033 Index, while MRAL is a Leveraged Equities fund tracking the MARA Holdings Inc. (MARA). Both are passively managed. Over the past year, BSSX returned 6.84% vs -50.80% for MRAL. At a correlation of -0.02, they often move in opposite directions. BSSX charges 0.18%/yr vs 1.50%/yr for MRAL.

Performance

BSSX vs. MRAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2033 Municipal Bond ETF (BSSX) and GraniteShares 2x Long MARA Daily ETF (MRAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSSX achieves a 1.04% return, which is significantly lower than MRAL's 78.04% return.

BSSX

• 1D: -0.10%
• 1M: 1.44%
• YTD: 1.04%
• 6M: 1.36%
• 1Y: 6.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MRAL

• 1D: 8.81%
• 1M: 9.71%
• YTD: 78.04%
• 6M: 39.22%
• 1Y: -50.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BSSX vs. MRAL - Yearly Performance Comparison

	2026 (YTD)	2025
BSSX Invesco BulletShares 2033 Municipal Bond ETF	1.04%	2.96%
MRAL GraniteShares 2x Long MARA Daily ETF	78.04%	-82.23%

Correlation

The correlation between BSSX and MRAL is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	-0.02

Return for Risk

BSSX vs. MRAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSSX

BSSX Risk / Return Rank: 60
BSSX Sharpe Ratio Rank: 66
BSSX Sortino Ratio Rank: 72
BSSX Omega Ratio Rank: 76
BSSX Calmar Ratio Rank: 43
BSSX Martin Ratio Rank: 41

MRAL

MRAL Risk / Return Rank: 8
MRAL Sharpe Ratio Rank: 6
MRAL Sortino Ratio Rank: 11
MRAL Omega Ratio Rank: 11
MRAL Calmar Ratio Rank: 4
MRAL Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSSX vs. MRAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2033 Municipal Bond ETF (BSSX) and GraniteShares 2x Long MARA Daily ETF (MRAL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	BSSX	MRAL	Difference
Sharpe ratio: Return per unit of total volatility	2.08	-0.33	+2.40
Sortino ratio: Return per unit of downside risk	3.10	0.49	+2.61
Omega ratio: Gain probability vs. loss probability	1.43	1.06	+0.37
Calmar ratio: Return relative to maximum drawdown	2.09	-0.55	+2.64
Martin ratio: Return relative to average drawdown	6.39	-0.75	+7.14

BSSX vs. MRAL - Sharpe Ratio Comparison

The current BSSX Sharpe Ratio is 2.08, which is higher than the MRAL Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of BSSX and MRAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BSSX vs. MRAL - Drawdown Comparison

The maximum BSSX drawdown since its inception was -8.12%, smaller than the maximum MRAL drawdown of -93.46%. Use the drawdown chart below to compare losses from any high point for BSSX and MRAL.

Drawdown Indicators

	BSSX	MRAL	Difference
Max Drawdown Largest peak-to-trough decline	-8.12%	-93.46%	+85.34%
Max Drawdown (1Y) Largest decline over 1 year	-3.28%	-93.46%	+90.18%
Current Drawdown Current decline from peak	-0.98%	-76.55%	+75.57%
Average Drawdown Average peak-to-trough decline	-3.22%	-56.72%	+53.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	68.12%	-67.05%

Volatility

BSSX vs. MRAL - Volatility Comparison

The current volatility for Invesco BulletShares 2033 Municipal Bond ETF (BSSX) is 0.93%, while GraniteShares 2x Long MARA Daily ETF (MRAL) has a volatility of 45.08%. This indicates that BSSX experiences smaller price fluctuations and is considered to be less risky than MRAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSSX	MRAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	45.08%	-44.15%
Volatility (6M) Calculated over the trailing 6-month period	2.38%	118.84%	-116.46%
Volatility (1Y) Calculated over the trailing 1-year period	3.31%	157.03%	-153.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.77%	165.09%	-157.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.77%	165.09%	-157.32%

BSSX vs. MRAL - Expense Ratio Comparison

BSSX has a 0.18% expense ratio, which is lower than MRAL's 1.50% expense ratio.

Dividends

BSSX vs. MRAL - Dividend Comparison

BSSX's dividend yield for the trailing twelve months is around 3.59%, while MRAL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
BSSX Invesco BulletShares 2033 Municipal Bond ETF	3.30%	3.27%	3.29%	0.95%
MRAL GraniteShares 2x Long MARA Daily ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSSX and MRAL in my portfolio?

BSSX and MRAL have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSSX or MRAL?

MRAL has higher volatility (45.08%) compared to BSSX (0.93%). In terms of maximum drawdown, BSSX dropped -8.12% vs MRAL's -93.46%.

Which ETF is better, BSSX or MRAL?

On 1-year performance, BSSX leads with 6.84% vs -50.80% for MRAL. On fees, BSSX is cheaper at 0.18% per year. On volatility, BSSX has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSSX or MRAL?

Over the 1-year period, BSSX has performed better with a 6.84% return vs -50.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSSX or MRAL?

BSSX is cheaper with a 0.18% expense ratio, compared with 1.50% for MRAL.

Which ETF pays a higher dividend yield, BSSX or MRAL?

BSSX has the higher dividend yield at 3.59%, compared with 0.00% for MRAL.

What is the main difference between BSSX and MRAL?

BSSX is categorized as Municipal Bonds, while MRAL is Leveraged Equities. BSSX tracks Invesco BulletShares USD Municipal Bond 2033 Index, while MRAL tracks MARA Holdings Inc. (MARA). They also come from different issuers: Invesco and GraniteShares. Their fees differ too: 0.18% for BSSX and 1.50% for MRAL.

Which has better risk-adjusted returns?

BSSX currently has the higher Sharpe Ratio (2.08 vs -0.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.