ISUL ETF — Holdings & Analysis

This leveraged ETF is designed for investors seeking short-term amplified exposure to ISRG, but it is important to note that it is not intended for long-term investment due to the effects of compounding. Past performance does not guarantee future results.

GraniteShares 2x Long ISRG Daily ETF (ISUL) ETF — Price, Holdings & Analysis

The GraniteShares 2x Long ISRG Daily ETF (ISUL) is designed to provide twice the daily percentage change of Intuitive Surgical, Inc. (ISRG) stock. Launched in October 2025, ISUL has an expense ratio of 1.50% and currently manages $0.00B in assets. This leveraged ETF is designed for investors seeking short-term amplified exposure to ISRG, but it is important to note that it is not intended for long-term investment due to the effects of compounding. Past performance does not guarantee future results.

ETF Overview

The Fund seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the common stock of Intuitive Surgical, Inc, (NASDAQ: ISRG) There is no guarantee that the Fund will meet its stated objective. The fund should not be expected to provide 2 times the cumulative return of ISRG for periods greater than a day.

ISUL aims to deliver twice the daily return of Intuitive Surgical (ISRG) stock. This leveraged approach means that if ISRG's stock price increases by 1% on a given day, ISUL seeks to increase by 2%, and vice versa. The fund is designed for sophisticated investors who actively monitor their positions and understand the risks associated with leveraged ETFs. It is crucial to recognize that the fund's performance is measured daily, and the cumulative effect over longer periods can deviate significantly from a simple 2x multiple of ISRG's returns due to compounding. ISUL's investment strategy focuses entirely on a single company, Intuitive Surgical, thereby concentrating its exposure. The fund's country exposure is primarily in the United States (66.7%), with a smaller allocation to Other (33.4%).

Risk Metrics

ISUL carries significant risks due to its leveraged nature and concentrated holdings. The 2x leverage magnifies both gains and losses, making it substantially more volatile than a non-leveraged investment in Intuitive Surgical. The fund's concentration in a single stock, ISRG, exposes it to company-specific risks. A decline in ISRG's stock price will be amplified, potentially leading to significant losses. With a beta of 0.00, it is difficult to determine the fund's volatility relative to the market. The high expense ratio of 1.50% further erodes returns, especially if held for extended periods. Compounding effects can also lead to unexpected outcomes, making ISUL unsuitable for buy-and-hold investors. Past performance does not guarantee future results.

Expense Ratio

1.50%

How Is the Fund Allocated?

Country	Weight
Other	33.4%
United States	66.7%

Dividend Yield

0.00%

Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
State Street SPDR S&P 500 ETF (SPY) — 0.09% expense ratio

GraniteShares YieldBoost Single Stock Universe ETF (YBST) (Equity) — 1.38% expense ratio
GraniteShares 2x Long MRVL Daily ETF (MVLL) (Equity) — 2.52% expense ratio
GraniteShares 2x Short COIN Daily ETF (CONI) (Equity) — 2.11% expense ratio
GraniteShares Platinum Trust (PLTM) (Equity) — 0.50% expense ratio
GraniteShares 1x Short AMD Daily ETF (AMDS) (Equity) — 1.15% expense ratio
GraniteShares 2x Long IONQ Daily ETF (IONL) (Equity) — 3.63% expense ratio

Risk Metrics

Beta: 0.00

Questions & Answers

What is ISUL and what does it track?

The GraniteShares 2x Long ISRG Daily ETF (ISUL) is an exchange-traded fund that aims to provide daily investment results, before fees and expenses, corresponding to two times (200%) the daily percentage change of Intuitive Surgical, Inc. (ISRG) stock.

Launched in October 2025, ISUL offers investors a way to gain leveraged exposure to the price movements of ISRG.

What is the expense ratio for ISUL?

The expense ratio for ISUL is 1.50%. This means that for every $10,000 invested in the fund, $150 is used to cover the fund's operating expenses annually.

The expense ratio is relatively high compared to broad market equity ETFs, which often have expense ratios below 0.50%.

What are the top holdings in ISUL?

As a leveraged ETF, ISUL's primary holding is derivatives and contracts designed to replicate two times the daily performance of Intuitive Surgical, Inc. (ISRG). While it doesn't hold a traditional basket of stocks, its exposure is entirely concentrated on ISRG.

The fund's investment strategy revolves around using financial instruments to achieve its 2x daily return objective.

Is ISUL a good long-term investment?

ISUL is generally not considered a suitable long-term investment due to its leveraged nature and daily reset mechanism.

The fund is designed to provide twice the daily percentage change of Intuitive Surgical (ISRG) stock, which means that its performance is reset each day.

How does ISUL compare to similar ETFs?

ISUL is unique in that it offers 2x leveraged exposure specifically to Intuitive Surgical (ISRG) on a daily basis. Many other ETFs in the equity space offer broader market exposure or focus on different sectors.

Compared to non-leveraged ETFs, ISUL has a significantly higher expense ratio of 1.50%.

Does ISUL pay dividends?

According to the latest data, ISUL does not pay dividends. Its dividend yield is 0.00%. This is typical for leveraged ETFs, as their primary objective is to provide amplified exposure to price movements rather than generating income through dividends.

Investors seeking dividend income should consider other ETFs that focus on dividend-paying stocks.