MVLL Fees and Costs — GraniteShares 2x Long MRVL Daily ETF
Data updated: 2026-09-11
The net expense ratio is 1.50%: a 1.30% management fee plus 1.22% other expenses, less a 1.02% fee waiver. There are no sales loads or redemption fees.
MVLL Fees and Expenses
Annual operating expenses and sales charges of MVLL. Prospectus, as of October 24, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.22% |
| Gross expense ratio | 2.52% |
| Fee waiver | −1.02% |
| Net expense ratio | 1.50% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MVLL Costs Over Time
On $10,000 invested in MVLL, assuming 5% a year before costs, total costs come to $929 over 5 years, cutting the return by 1.57% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.50%) | $158 | $489 | $843 |
| Lost growth on money paid in costs | $0 | $24 | $86 |
| Total costs | $158 | $513 | $929 |
| Value after costs | $10,342 | $11,063 | $11,834 |
| Impact on return, per year | 1.58% | 1.57% | 1.57% |
MVLL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.2B
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
MVLL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $2.0B | 90.18% |
| CANTOR FITZGERALD & CO. | $97.1M | 4.37% |
| Marex Capital Markets Inc. | $69.2M | 3.11% |
| CREDIT SUISSE SECURITIES (USA) LLC | $34.3M | 1.54% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $14.8M | 0.67% |
| HSBC SECURITIES (USA) INC. | $2.4M | 0.11% |
| NATIONAL BANK OF CANADA FINANCIAL INC. | $370K | 0.02% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.