MRAL vs. FTSD

Last updated Jun 25, 2026

MRAL (GraniteShares 2x Long MARA Daily ETF) and FTSD (Franklin Short Duration U.S. Government ETF) are both exchange-traded funds - MRAL is a Leveraged Equities fund tracking the MARA Holdings Inc. (MARA), while FTSD is a Mortgage Backed Securities fund actively managed by Franklin Templeton. MRAL is passively managed, while FTSD is actively managed. Over the past year, MRAL returned -59.79% vs 4.17% for FTSD. At a correlation of -0.08, they often move in opposite directions. MRAL charges 1.50%/yr vs 0.25%/yr for FTSD.

Performance

MRAL vs. FTSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MARA Daily ETF (MRAL) and Franklin Short Duration U.S. Government ETF (FTSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MRAL achieves a 56.44% return, which is significantly higher than FTSD's 1.03% return.

MRAL

• 1D: -10.31%
• 1M: -3.60%
• YTD: 56.44%
• 6M: 28.00%
• 1Y: -59.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTSD

• 1D: 0.11%
• 1M: 0.55%
• YTD: 1.03%
• 6M: 1.11%
• 1Y: 4.17%
• 3Y*: 5.02%
• 5Y*: 2.56%
• 10Y*: 2.07%

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

MRAL vs. FTSD - Yearly Performance Comparison

	2026 (YTD)	2025
MRAL GraniteShares 2x Long MARA Daily ETF	56.44%	-82.23%
FTSD Franklin Short Duration U.S. Government ETF	1.03%	4.47%

Correlation

The correlation between MRAL and FTSD is -0.01, 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	-0.01
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	-0.08

Return for Risk

MRAL vs. FTSD — Risk / Return Rank

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

MRAL

MRAL Risk / Return Rank: 7
MRAL Sharpe Ratio Rank: 6
MRAL Sortino Ratio Rank: 10
MRAL Omega Ratio Rank: 10
MRAL Calmar Ratio Rank: 4
MRAL Martin Ratio Rank: 5

FTSD

FTSD Risk / Return Rank: 96
FTSD Sharpe Ratio Rank: 94
FTSD Sortino Ratio Rank: 95
FTSD Omega Ratio Rank: 95
FTSD Calmar Ratio Rank: 97
FTSD Martin Ratio Rank: 97

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.

MRAL vs. FTSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MARA Daily ETF (MRAL) and Franklin Short Duration U.S. Government ETF (FTSD). 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.

	MRAL	FTSD	Difference
Sharpe ratio: Return per unit of total volatility	-0.38	3.09	-3.47
Sortino ratio: Return per unit of downside risk	0.30	4.78	-4.48
Omega ratio: Gain probability vs. loss probability	1.03	1.64	-0.60
Calmar ratio: Return relative to maximum drawdown	-0.64	9.28	-9.92
Martin ratio: Return relative to average drawdown	-0.87	35.89	-36.76

MRAL vs. FTSD - Sharpe Ratio Comparison

The current MRAL Sharpe Ratio is -0.38, which is lower than the FTSD Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of MRAL and FTSD, 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

MRAL vs. FTSD - Drawdown Comparison

The maximum MRAL drawdown since its inception was -93.46%, which is greater than FTSD's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for MRAL and FTSD.

Drawdown Indicators

	MRAL	FTSD	Difference
Max Drawdown Largest peak-to-trough decline	-93.46%	-5.32%	-88.14%
Max Drawdown (1Y) Largest decline over 1 year	-93.46%	-0.45%	-93.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.93%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-4.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.32%	—
Current Drawdown Current decline from peak	-79.40%	-0.10%	-79.30%
Average Drawdown Average peak-to-trough decline	-56.86%	-0.60%	-56.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	68.48%	0.12%	+68.36%

Volatility

MRAL vs. FTSD - Volatility Comparison

GraniteShares 2x Long MARA Daily ETF (MRAL) has a higher volatility of 46.23% compared to Franklin Short Duration U.S. Government ETF (FTSD) at 0.56%. This indicates that MRAL's price experiences larger fluctuations and is considered to be riskier than FTSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRAL	FTSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.23%	0.56%	+45.67%
Volatility (6M) Calculated over the trailing 6-month period	119.01%	1.09%	+117.92%
Volatility (1Y) Calculated over the trailing 1-year period	157.08%	1.36%	+155.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	164.85%	1.86%	+162.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	164.85%	1.76%	+163.09%

MRAL vs. FTSD - Expense Ratio Comparison

MRAL has a 1.50% expense ratio, which is higher than FTSD's 0.25% expense ratio.

Dividends

MRAL vs. FTSD - Dividend Comparison

MRAL has not paid dividends to shareholders, while FTSD's dividend yield for the trailing twelve months is around 4.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTSD Franklin Short Duration U.S. Government ETF	4.49%	4.67%	4.75%	4.14%	1.73%	1.01%	1.54%	2.90%	2.63%	2.24%	1.92%	1.52%
MRAL GraniteShares 2x Long MARA Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MRAL and FTSD in my portfolio?

MRAL and FTSD have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MRAL or FTSD?

MRAL has higher volatility (46.23%) compared to FTSD (0.56%). In terms of maximum drawdown, MRAL dropped -93.46% vs FTSD's -5.32%.

Which ETF is better, MRAL or FTSD?

On 1-year performance, FTSD leads with 4.17% vs -59.79% for MRAL. On fees, FTSD is cheaper at 0.25% per year. On volatility, FTSD has been the lower-risk option at 0.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MRAL or FTSD?

Over the 1-year period, FTSD has performed better with a 4.17% return vs -59.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MRAL or FTSD?

FTSD is cheaper with a 0.25% expense ratio, compared with 1.50% for MRAL.

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

FTSD has the higher dividend yield at 4.49%, compared with 0.00% for MRAL.

What is the main difference between MRAL and FTSD?

MRAL is categorized as Leveraged Equities, while FTSD is Mortgage Backed Securities. They also come from different issuers: GraniteShares and Franklin Templeton. Their fees differ too: 1.50% for MRAL and 0.25% for FTSD.

Which has better risk-adjusted returns?

FTSD currently has the higher Sharpe Ratio (3.09 vs -0.38), 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.