ETRL vs. BMNG

Last updated Jun 5, 2026

ETRL (GraniteShares 2x Long ETOR Daily ETF) and BMNG (Leverage Shares 2X Long BMNR Daily ETF) are both Leveraged Equities funds. Both are actively managed. A 0.57 correlation means they provide meaningful diversification when combined. ETRL charges 1.50%/yr vs 0.75%/yr for BMNG.

Performance

ETRL vs. BMNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long ETOR Daily ETF (ETRL) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETRL achieves a 5.50% return, which is significantly higher than BMNG's -72.19% return.

ETRL

• 1D: 2.41%
• 1M: 0.47%
• YTD: 5.50%
• 6M: -33.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNG

• 1D: 11.82%
• 1M: -43.79%
• YTD: -72.19%
• 6M: -85.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETRL vs. BMNG - Yearly Performance Comparison

	2026 (YTD)	2025
ETRL GraniteShares 2x Long ETOR Daily ETF	5.50%	-29.50%
BMNG Leverage Shares 2X Long BMNR Daily ETF	-72.19%	-81.37%

Correlation

The correlation between ETRL and BMNG is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025	0.57

Return for Risk

ETRL vs. BMNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long ETOR Daily ETF (ETRL) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ETRL	BMNG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.55	-0.52	-0.03

Drawdowns

ETRL vs. BMNG - Drawdown Comparison

The maximum ETRL drawdown since its inception was -76.44%, smaller than the maximum BMNG drawdown of -95.36%. Use the drawdown chart below to compare losses from any high point for ETRL and BMNG.

Drawdown Indicators

	ETRL	BMNG	Difference
Max Drawdown Largest peak-to-trough decline	-76.44%	-95.36%	+18.92%
Current Drawdown Current decline from peak	-48.21%	-94.82%	+46.61%
Average Drawdown Average peak-to-trough decline	-47.50%	-81.47%	+33.97%

Volatility

Volatility by Period

	ETRL	BMNG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	105.70%	191.69%	-85.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.70%	191.69%	-85.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	105.70%	191.69%	-85.99%

ETRL vs. BMNG - Expense Ratio Comparison

ETRL has a 1.50% expense ratio, which is higher than BMNG's 0.75% expense ratio.

Dividends

ETRL vs. BMNG - Dividend Comparison

Neither ETRL nor BMNG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETRL and BMNG in my portfolio?

ETRL and BMNG have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETRL or BMNG?

On fees, BMNG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETRL or BMNG?

BMNG is cheaper with a 0.75% expense ratio, compared with 1.50% for ETRL.

Which ETF pays a higher dividend yield, ETRL or BMNG?

ETRL and BMNG have nearly identical dividend yields, around 0.00%.

What is the main difference between ETRL and BMNG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for ETRL and 0.75% for BMNG.