MRAL vs SPY
MRAL vs SPY
GraniteShares 2x Long MARA Daily ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MRAL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.50% | 0.09% | |
| AUM | $45M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | -39.80% | +13.79% | |
| 1Y Return | -82.61% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 130.7% | 15.3% | |
| Max Drawdown | -93.5% | -56.5% | |
| Fund Family | GraniteShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Mar 7, 2025 | Jan 22, 1993 |
MRAL vs SPY Performance
GraniteShares 2x Long MARA Daily ETF (MRAL) is a ETF from GraniteShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MRAL returned -82.61% while SPY returned +23.66%. Year to date, MRAL is down 39.80% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
MRAL has been the more volatile fund, with annualized monthly volatility of 130.7% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -93.5% for MRAL and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MRAL charges 1.50% per year while SPY charges 0.09%. On a $10,000 position that is $150 vs $9 annually, a gap of $141 per year that compounds over a long holding period. On income, MRAL currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
MRAL and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MRAL or SPY?
MRAL has an expense ratio of 1.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $141 per year of difference.
Which performed better, MRAL or SPY?
Over the past year MRAL returned -82.61% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), MRAL annualized -77.92% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, MRAL or SPY?
MRAL has been the more volatile fund at 130.7% annualized versus 15.3% for SPY. Worst drawdown: MRAL -93.5% vs SPY -56.5%.
Should I hold both MRAL and SPY?
MRAL and SPY have a monthly-return correlation of 0.72, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MRAL and SPY?
MRAL and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, MRAL or SPY?
MRAL yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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