COIA vs CONI: which held to its multiple?
Over three months against its own daily promise, COIA finished 5.4 points short and CONI 0.9 points short. ProShares Ultra COIN and GraniteShares 2x Short COIN Daily ETF.
COIA returned +14.1% while 2 times COIN's move would have been +34.1%
CONI returned −53.7% while −2 times COIN's move would have been −34.1%
COIA among the 470 leveraged ETFs, long, over three months
CONI among the 125 inverse ETFs over three months
A percentile among the 470 leveraged ETFs, long, over three months. CONI is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. 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
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | COIA | CONI | COIA | CONI | COIA | CONI |
| 1 month | −8.4% | −15.6% | −1.8% | +1.8% | −6.6 pts | −17.4 pts |
| 3 months | +14.1% | −53.7% | +34.1% | −34.1% | −20.0 pts | −19.6 pts |
| 6 months | −17.3% | −61.6% | +15.5% | −15.5% | −32.8 pts | −46.1 pts |
| 1 year | −85.1% | −41.3% | −89.5% | +89.5% | +4.4 pts | −130.8 pts |
| Since launch COIA Sep 2025 · CONI Sep 2024 | −83.4% | −95.2% | −81.8% | −28.4% | −1.6 pts | −66.8 pts |
COIA and CONI over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
COIA and CONI on the same fields, as of Sep 30, 2026. Source: ETFIQ.
COIA in plain words
Three months to Sep 30, 2026: COIA returned +14.1% where its own daily promise gave +19.5%, 5.4 points short. Read the multiple against the whole window instead and 2 times COIN's 17.1% implies +34.1%, which makes COIA look 20.0 points short. 14.6 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 75% 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.
CONI in plain words
Three months to Sep 30, 2026: CONI returned −53.7% where its own daily promise gave −52.8%, 0.9 points short. Read the multiple against the whole window instead and −2 times COIN's 17.1% implies −34.1%, which makes CONI look 19.6 points short. 18.7 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. CONI aims to return -2 times COIN's move each day, then resets. 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.
Questions people ask
- Which came closer to its stated multiple, COIA or CONI?
- Over the window to Sep 30, 2026, COIA finished 20.0 points from what its multiple implies and CONI finished 19.6 points from its own, so CONI came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are COIA and CONI levered on the same thing?
- Yes. Both are levered on Coinbase Global, COIA at +2 times and CONI at -2 times the daily move.
- Which one decays faster, COIA or CONI?
- Decay follows how much the underlying moves about. Over this window COIA’s moved at 75% annualized and CONI’s at 75%, so COIA has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold COIA or CONI 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.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, COIA against CONI, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/coia-vs-coni
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, COIA against CONI, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/coia-vs-coni Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, COIA against CONI, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/coia-vs-coni
- APA
- ETFIQ. (Sep 30, 2026). COIA against CONI. Retrieved from https://etfiq.com/compare/leverage/coia-vs-coni
- Markdown
- [COIA against CONI (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/coia-vs-coni)