Data as of .
COIA vs CONL: which held to its multiple?
Over the days both have traded, COIA finished 5.7 points from its stated multiple and CONL 5.7.
ETFIQ Decay Resistance Score: CONL scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| COIA | CONL | COIA | CONL | COIA | CONL | |
| 1 month | +29.5% | +29.4% | +35.2% | +35.2% | −5.7 pts | −5.7 pts |
| 3 months | +1.8% | +2.1% | +19.4% | +19.4% | −17.6 pts | −17.3 pts |
| 6 months | −42.3% | −41.7% | −20.7% | −20.7% | −21.5 pts | −21.0 pts |
| 1 year | −85.3% | −84.9% | −91.8% | −91.8% | +6.5 pts | +6.9 pts |
| 3 years | not published | −54.2% | not published | not meaningful | not published | not meaningful |
| Since launch | −84.6% | −74.7% | −88.8% | +199.8% | +4.2 pts | −274.5 pts |
| COIA ProShares Ultra COIN Aims to return twice the daily move of Coinbase Global (COIN) | CONL GraniteShares 2x Long COIN Daily ETF Aims to return twice the daily move of Coinbase Global (COIN) | |
|---|---|---|
| Issuer | ProShares | GraniteShares |
| Sets out to return | +2x | +2x |
| On | COIN | COIN |
| Segment | company | company |
| Fund returned, 3 months | +1.8% | +2.1% |
| Underlying returned, 3 months | +9.7% | +9.7% |
| What the stated multiple implies, 3 months | +19.4% | +19.4% |
| Difference from stated, 3 months | −17.6 pts | −17.3 pts |
| Fund returned, 1 year or since launch | −85.3% | −84.9% |
| Difference from stated, over that window | +6.5 pts | +6.9 pts |
| Underlying volatility | 71% | 71% |
| Difference over the days both have traded | −5.7 pts | −5.7 pts |
| Expense ratio | 0.95% | 1.04% |
| Launched | Sep 10, 2025 | Aug 9, 2022 |
COIA in plain words
Three months to Sep 11, 2026: COIA returned +1.8% where its own daily promise gave +6.7%, 4.8 points short. Read the multiple against the whole window instead and +2 times COIN's 9.7% implies +19.4%, which makes COIA look 17.6 points short. 12.7 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. COIA aims to return +2 times COIN's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. COIN moved at 71% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
CONL in plain words
Three months to Sep 11, 2026: CONL returned +2.1% where its own daily promise gave +6.7%, 4.6 points short. Read the multiple against the whole window instead and +2 times COIN's 9.7% implies +19.4%, which makes CONL look 17.3 points short. CONL aims to return +2 times COIN's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, COIA or CONL?
- Over the window to Sep 11, 2026, COIA finished 17.6 points from what its multiple implies and CONL finished 17.3 points from its own, so CONL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are COIA and CONL levered on the same thing?
- Yes. Both are levered on Coinbase Global, COIA at +2 times and CONL at +2 times the daily move.
- Which one decays faster, COIA or CONL?
- Decay follows how much the underlying moves about. Over this window COIA’s moved at 71% annualized and CONL’s at 71%, so COIA has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold COIA or CONL for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, COIA or CONL?
- COIA charges 0.95% a year and CONL charges 1.04%, so COIA is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, COIA against CONL, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/COIA-CONL Free to use with attribution; the underlying files are at Open data.