GraniteShares 2x Long MSTR Daily ETF (MSTP) Performance
MSTP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −55.6% since Dec 31, 2025
- 1 year
- −88.9% total return
- Since first price
- −95.1% since 2025
MSTP trailing returns vs SPY, QQQ, AGG
| Period | MSTP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −23.6% | −23.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +93.3% | +93.3% | +3.2% | +1.9% | −0.4% |
| 6 months | −53.7% | −53.7% | +7.8% | +8.4% | −1.5% |
| YTD | −55.6% | −55.6% | +12.3% | +15.1% | −1.0% |
| 1 year | −88.9% | −88.9% | +14.4% | +15.9% | −1.1% |
| Since inceptionJun 10, 2025 | −95.1% | −95.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MSTP vs SPY
From Jun 10, 2025: MSTP grew to $489, SPY to $12,811.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MSTP returns by calendar year
2026 is year to date.
MSTP annual returns table
| Year | MSTP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −55.6% | −86.2% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MSTP largest drawdowns
Now 96.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 16, 2025 | −98.4% | Jun 26, 2026 | not yet | 11 months | 1.3 years so far |
| Jun 30, 2025 | −15.1% | Jul 1, 2025 | Jul 9, 2025 | 1 days | 9 days |
| Jun 10, 2025 | −12.5% | Jun 23, 2025 | Jun 30, 2025 | 13 days | 20 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MSTP risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −90.3% |
| Volatility (annualized) | 147.5% |
| Sharpe ratio | -0.72 |
| Sortino ratio | -1.00 |
| Best month | +87.8% |
| Worst month | −73.3% |
| Best 12 months | −90.4% |
| Worst 12 months | −97.8% |
| Positive months | 27% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MSTP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 5 | −97.8% | −92.9% | −87.4% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
MSTP performance overview
GraniteShares 2x Long MSTR Daily ETF (MSTP) returned −88.9% over the past year, with distributions reinvested. Since its first recorded price on Jun 10, 2025 it has returned −95.1%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −98.4%, from Jul 16, 2025 to Jun 26, 2026; the fund has not yet regained that high. Volatility has been 147.5% a year.
Related: MSTP chart. See the MSTP overview for the latest quote and fund facts.
MSTP performance FAQ
What is the MSTP return over the past year?
MSTP returned −88.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 88.9%.
How much would $10,000 invested in MSTP be worth?
$10,000 invested in MSTP at its first recorded close on June 10, 2025 would be worth about $489 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of MSTP?
The largest peak-to-trough decline was −98.4% between July 16, 2025 and June 26, 2026. It has not yet recovered to that high; it is 96.2% below its peak.
How volatile is MSTP?
Over the past history MSTP had an annualized volatility of 147.5% and a Sharpe ratio of -0.72 (excess return over 1–3 month T-bills per unit of risk).