- What does MRNX invest in?
- The MRNX fund is designed to generate returns by taking a leveraged, bullish stance on the daily share price movements of Moderna, Inc. (MRNA). It achieves this primarily through the use of swap agreements and short-term listed call options. Its objective is to deliver a daily return equivalent to 200% (twice) the daily percentage change in MRNA's stock price, which it maintains through daily rebalancing. However, holding the fund for periods exceeding a single day may lead to actual returns that deviate significantly from this 2x daily target, influenced by factors like market volatility, compounding, and rebalancing impacts. For collateral supporting its derivative contracts, MRNX may also invest in stable assets such as U.S. government securities, money market funds, short-term bond exchange-traded funds (ETFs), and investment-grade corporate debt.
- What is the expense ratio of MRNX?
- Daily Target 2X Long MRNA ETF (MRNX) charges an expense ratio of 1.31%. This is the annual fee deducted from fund assets to cover management and operations.
- What is the duration of MRNX?
- Effective duration measures MRNX's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. MRNX's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of MRNX?
- MRNX's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.
- What is the yield to maturity of MRNX?
- Yield to maturity (YTM) is the total return you'd earn from MRNX if every bond in the portfolio is held to maturity at the current price. MRNX's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.
- Is MRNX a good long-term hold?
- MRNX is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.
