MRAL vs. TSDD

Last updated Jun 4, 2026

MRAL (GraniteShares 2x Long MARA Daily ETF) and TSDD (GraniteShares 2x Short TSLA Daily ETF) are both exchange-traded funds - MRAL is a Leveraged Equities fund tracking the MARA Holdings Inc. (MARA), while TSDD is a Inverse Equities fund actively managed by GraniteShares. MRAL is passively managed, while TSDD is actively managed. Over the past year, MRAL returned -60.79% vs -62.89% for TSDD. At a correlation of -0.38, they often move in opposite directions. Both charge a 1.50% expense ratio.

Performance

MRAL vs. TSDD - Performance Comparison

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

Returns By Period

In the year-to-date period, MRAL achieves a 65.74% return, which is significantly higher than TSDD's -4.27% return.

MRAL

• 1D: -4.00%
• 1M: 33.63%
• YTD: 65.74%
• 6M: -16.49%
• 1Y: -60.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSDD

• 1D: 0.14%
• 1M: -17.41%
• YTD: -4.27%
• 6M: -7.92%
• 1Y: -62.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MRAL vs. TSDD - Yearly Performance Comparison

	2026 (YTD)	2025
MRAL GraniteShares 2x Long MARA Daily ETF	65.74%	-83.75%
TSDD GraniteShares 2x Short TSLA Daily ETF	-4.27%	-87.55%

Correlation

The correlation between MRAL and TSDD is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.32
Correlation (All Time) Calculated using the full available price history since Mar 10, 2025	-0.38

MRAL vs. TSDD - Sectors Allocation Comparison

Sectors	MRAL	TSDD
Financial Services	66.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	200.1%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

MRAL vs. TSDD — 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: 5
MRAL Sortino Ratio Rank: 10
MRAL Omega Ratio Rank: 10
MRAL Calmar Ratio Rank: 4
MRAL Martin Ratio Rank: 5

TSDD

TSDD Risk / Return Rank: 3
TSDD Sharpe Ratio Rank: 3
TSDD Sortino Ratio Rank: 3
TSDD Omega Ratio Rank: 3
TSDD Calmar Ratio Rank: 2
TSDD Martin Ratio Rank: 4

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. TSDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MARA Daily ETF (MRAL) and GraniteShares 2x Short TSLA Daily ETF (TSDD). 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.

	MRAL	TSDD	Difference
Sharpe ratio: Return per unit of total volatility	-0.40	-0.68	+0.28
Sortino ratio: Return per unit of downside risk	0.22	-0.87	+1.09
Omega ratio: Gain probability vs. loss probability	1.03	0.90	+0.12
Calmar ratio: Return relative to maximum drawdown	-0.65	-0.83	+0.18
Martin ratio: Return relative to average drawdown	-0.92	-1.05	+0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MRAL vs. TSDD - Sharpe Ratio Comparison

The current MRAL Sharpe Ratio is -0.40, which is higher than the TSDD Sharpe Ratio of -0.68. The chart below compares the historical Sharpe Ratios of MRAL and TSDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MRAL	TSDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	-0.68	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	-0.40	-0.66	+0.26

Drawdowns

MRAL vs. TSDD - Drawdown Comparison

The maximum MRAL drawdown since its inception was -93.46%, smaller than the maximum TSDD drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for MRAL and TSDD.

Drawdown Indicators

	MRAL	TSDD	Difference
Max Drawdown Largest peak-to-trough decline	-93.46%	-99.03%	+5.57%
Max Drawdown (1Y) Largest decline over 1 year	-93.46%	-76.12%	-17.34%
Current Drawdown Current decline from peak	-78.17%	-98.90%	+20.73%
Average Drawdown Average peak-to-trough decline	-56.03%	-71.21%	+15.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	66.02%	59.88%	+6.14%

Volatility

MRAL vs. TSDD - Volatility Comparison

GraniteShares 2x Long MARA Daily ETF (MRAL) has a higher volatility of 33.29% compared to GraniteShares 2x Short TSLA Daily ETF (TSDD) at 24.19%. This indicates that MRAL's price experiences larger fluctuations and is considered to be riskier than TSDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRAL	TSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.29%	24.19%	+9.10%
Volatility (6M) Calculated over the trailing 6-month period	115.01%	54.90%	+60.11%
Volatility (1Y) Calculated over the trailing 1-year period	153.49%	92.57%	+60.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	164.22%	114.46%	+49.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	164.22%	114.46%	+49.76%

MRAL vs. TSDD - Expense Ratio Comparison

Both MRAL and TSDD have an expense ratio of 1.50%.

Dividends

MRAL vs. TSDD - Dividend Comparison

MRAL has not paid dividends to shareholders, while TSDD's dividend yield for the trailing twelve months is around 8.80%.

Position	TTM	2025	2024	2023
MRAL GraniteShares 2x Long MARA Daily ETF	0.00%	0.00%	0.00%	0.00%
TSDD GraniteShares 2x Short TSLA Daily ETF	8.80%	8.42%	0.00%	24.84%

Frequently Asked Questions

Can I hold both MRAL and TSDD in my portfolio?

MRAL and TSDD have a correlation of -0.32, 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 TSDD?

MRAL has higher volatility (33.29%) compared to TSDD (24.19%). In terms of maximum drawdown, MRAL dropped -93.46% vs TSDD's -99.03%.

Which ETF is better, MRAL or TSDD?

On 1-year performance, MRAL leads with -60.79% vs -62.89% for TSDD. Both ETFs have the same 1.50% expense ratio. On volatility, TSDD has been the lower-risk option at 24.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MRAL or TSDD?

Over the 1-year period, MRAL has performed better with a -60.79% return vs -62.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MRAL or TSDD?

MRAL and TSDD have the same expense ratio: 1.50% per year.

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

TSDD has the higher dividend yield at 8.80%, compared with 0.00% for MRAL.

What is the main difference between MRAL and TSDD?

MRAL is categorized as Leveraged Equities, while TSDD is Inverse Equities.

Which has better risk-adjusted returns?

MRAL currently has the higher Sharpe Ratio (-0.40 vs -0.68), 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.