GraniteShares 2x Long RIVN Daily ETF

Frequently Asked Questions About RVNL

What does RVNL invest in?

The Fund seeks daily investment results of 2 times the daily percentage change of the common stock of Rivian Automotive, Inc. The Fund is an actively managed exchange traded fund that attempts to replicate 2 times the daily percentage change the Underlying Stock by entering into a swap agreement on the Underlying Stock.

What is the expense ratio of RVNL?

GraniteShares 2x Long RIVN Daily ETF (RVNL) charges an expense ratio of 7.90%. This is the annual fee deducted from fund assets to cover management and operations.

Is RVNL a good long-term hold?

RVNL 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.

How does RVNL's daily reset work?

RVNL rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is RVNL?

GraniteShares 2x Long RIVN Daily ETF (RVNL) manages $13.5M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is RVNL actively managed or an index fund?

RVNL's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.