What this ETF is trying to do

The GRANITESHARES 2X LONG MSFT DAILY ETF (MSFL) is a leveraged ETF. This means it uses financial tools to try and double the daily movement of a specific stock. It is designed for traders who want a more aggressive way to follow the price of Microsoft.

What the numbers show

As of October 5, 2026, the share price is $27.52.

Looking at the performance:

• Year-to-Date (YTD): The price return and total return are both approximately 1.22%.

• One Year: The price return and total return are both approximately -13.41%.

Because this ETF does not pay distributions, the price return (the change in share price) and the total return (the overall return) are the same.

To understand the one-year change, we can look at an estimated price from roughly one year ago, which was $31.78. If an investor had put $10,000 into the ETF at that estimated price, the value based on the price return alone would be approximately $8,659 today.

Income and distribution explanation

This ETF is not designed to provide regular cash income. The data shows a distribution yield of 0% and no distributions detected over the last 12 months. It has an income rating grade of "F."

NAV erosion explanation

"NAV erosion" happens when the value of an ETF's underlying assets wears away over time, often due to the costs of using leverage or volatility.

MSFL has an erosion-risk score of 75, which is labeled as "mild price erosion." While the severe erosion-risk flag is false, the erosion score suggests there is some risk that the fund's value could decline over the long term.

Pros

• Leverage: It allows investors to seek double the daily return of the underlying stock.

• Recent Growth: The year-to-date price return is positive at approximately 1.22%.

Cons

• Price Decline: The one-year price return is negative, showing a decline of approximately 13.41%.

• No Income: There are no cash distributions for investors seeking income.

• Erosion Risk: The fund has a "mild" erosion-risk label.

Beginner takeaway

MSFL is a high-risk tool used for short-term trading, not a traditional long-term investment. It does not pay dividends, so investors rely entirely on the share price going up to make money. Because it is leveraged, it can be very volatile. New investors should remember that a high-risk strategy can lead to a share-price decline, and the "mild" erosion score indicates that the fund's value can wear down over time.