MRAL vs. IAK
MRAL (GraniteShares 2x Long MARA Daily ETF) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - MRAL is a Leveraged Equities fund tracking the MARA Holdings Inc. (MARA), while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past year, MRAL returned -76.80% vs 19.67% for IAK. Their -0.02 correlation means they have often moved in opposite directions in the past. MRAL charges 1.50%/yr vs 0.38%/yr for IAK.
Performance
MRAL vs. IAK - Performance Comparison
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Returns By Period
In the year-to-date period, MRAL achieves a -8.52% return, which is significantly lower than IAK's 10.11% return.
MRAL
- 1D
- -8.96%
- 1M
- -24.24%
- 6M
- -13.43%
- YTD
- -8.52%
- 1Y
- -76.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -72.71%
IAK
- 1D
- 0.03%
- 1M
- -0.03%
- 6M
- 12.56%
- YTD
- 10.11%
- 1Y
- 19.67%
- 3Y*
- 19.67%
- 5Y*
- 15.99%
- 10Y*
- 13.18%
- ALL TIME*
- 7.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $15.27M | $20.59M | $12.29M | |
| $4.23M | $5.15M | $7.61M |
MRAL vs. IAK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MRAL GraniteShares 2x Long MARA Daily ETF | -8.52% | -82.23% |
IAK iShares U.S. Insurance ETF | 10.11% | 3.25% |
Correlation
The correlation between MRAL and IAK is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.15 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025 | -0.02 |
The correlation between MRAL and IAK shifts across timeframes, from -0.15 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
MRAL vs. IAK - Sectors Allocation Comparison
Sectors
MRAL
IAK
Financial Services
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Healthcare
-
Industrials
-
-
Real Estate
-
-
Technology
-
-
Utilities
-
-
Financial Services
MRAL
IAK
Basic Materials
MRAL
-
IAK
-
Communication Services
MRAL
-
IAK
-
Consumer Cyclical
MRAL
-
IAK
-
Consumer Defensive
MRAL
-
IAK
-
Energy
MRAL
-
IAK
-
Healthcare
MRAL
-
IAK
Industrials
MRAL
-
IAK
-
Real Estate
MRAL
-
IAK
-
Technology
MRAL
-
IAK
-
Utilities
MRAL
-
IAK
-
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Return for Risk
MRAL vs. IAK — Risk / Return Rank
MRAL
IAK
MRAL vs. IAK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MARA Daily ETF (MRAL) and iShares U.S. Insurance ETF (IAK). 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 | IAK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.22 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 2.59 | -3.44 |
| Martin ratioReturn relative to average drawdown | -1.09 | 6.29 | -7.39 |
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Drawdowns
MRAL vs. IAK - Drawdown Comparison
The maximum MRAL drawdown since its inception was -93.46%, which is greater than IAK's maximum drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for MRAL and IAK.
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Drawdown Indicators
| MRAL | IAK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.46% | -77.38% | -16.08% |
Max Drawdown (1Y)Largest decline over 1 year | -93.46% | -7.62% | -85.84% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.95% | — |
Current DrawdownCurrent decline from peak | -87.95% | -3.20% | -84.75% |
Average DrawdownAverage peak-to-trough decline | -58.89% | -16.01% | -42.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 71.78% | 3.13% | +68.65% |
Volatility
MRAL vs. IAK - Volatility Comparison
GraniteShares 2x Long MARA Daily ETF (MRAL) has a higher volatility of 60.92% compared to iShares U.S. Insurance ETF (IAK) at 6.56%. This indicates that MRAL's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MRAL | IAK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 60.92% | 6.56% | +54.36% |
Volatility (6M)Calculated over the trailing 6-month period | 127.55% | 12.42% | +115.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 162.66% | 15.99% | +146.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 167.33% | 18.13% | +149.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 167.33% | 20.92% | +146.41% |
MRAL vs. IAK - Expense Ratio Comparison
MRAL has a 1.50% expense ratio, which is higher than IAK's 0.38% expense ratio.
Dividends
MRAL vs. IAK - Dividend Comparison
MRAL has not paid dividends to shareholders, while IAK's dividend yield for the trailing twelve months is around 2.42%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAK iShares U.S. Insurance ETF | 2.42% | 1.69% | 1.49% | 1.44% | 1.69% | 2.26% | 2.07% | 1.84% | 2.33% | 1.62% | 1.68% | 1.62% |
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
MRAL and IAK have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MRAL has higher volatility (60.92%) compared to IAK (6.56%). In terms of maximum drawdown, MRAL dropped -93.46% vs IAK's -77.38%.
On 1-year performance, IAK leads with 19.67% vs -76.80% for MRAL. On fees, IAK is cheaper at 0.38% per year. On volatility, IAK has been the lower-risk option at 6.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IAK has performed better with a 19.67% return vs -76.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAK is cheaper with a 0.38% expense ratio, compared with 1.50% for MRAL.
IAK has the higher dividend yield at 2.42%, compared with 0.00% for MRAL.
MRAL is categorized as Leveraged Equities, while IAK is Financials Equities. MRAL tracks MARA Holdings Inc. (MARA), while IAK tracks Dow Jones U.S. Select Insurance Index. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.50% for MRAL and 0.38% for IAK.
IAK currently has the higher Sharpe Ratio (1.24 vs -0.48), 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.
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