COIA vs CONL: which held to its multiple?
Over the days both have traded, COIA finished 20.0 points from its stated multiple and CONL 19.8. ProShares Ultra COIN and GraniteShares 2x Long COIN Daily ETF.
COIA returned +14.1% while 2 times COIN's move would have been +34.1%
CONL returned +14.3% while 2 times COIN's move would have been +34.1%
A percentile among the 470 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
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | COIA | CONL | COIA | CONL | COIA | CONL |
| 1 month | −8.4% | −8.2% | −1.8% | −1.8% | −6.6 pts | −6.3 pts |
| 3 months | +14.1% | +14.3% | +34.1% | +34.1% | −20.0 pts | −19.8 pts |
| 6 months | −17.3% | −16.6% | +15.5% | +15.5% | −32.8 pts | −32.1 pts |
| 1 year | −85.1% | −84.7% | −89.5% | −89.5% | +4.4 pts | +4.9 pts |
| 3 years | not published | −43.7% | not published | not meaningful | not published | not meaningful |
| Since launch COIA Sep 2025 · CONL Aug 2022 | −83.4% | −72.7% | −81.8% | not meaningful | −1.6 pts | not meaningful |
COIA and CONL 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 CONL 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.
CONL in plain words
Three months to Sep 30, 2026: CONL returned +14.3% where its own daily promise gave +19.5%, 5.2 points short. Read the multiple against the whole window instead and 2 times COIN's 17.1% implies +34.1%, which makes CONL look 19.8 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 30, 2026, COIA finished 20.0 points from what its multiple implies and CONL finished 19.8 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 75% annualized and CONL’s at 75%, 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.
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 CONL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/coia-vs-conl
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 CONL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/coia-vs-conl Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, COIA against CONL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/coia-vs-conl
- APA
- ETFIQ. (Sep 30, 2026). COIA against CONL. Retrieved from https://etfiq.com/compare/leverage/coia-vs-conl
- Markdown
- [COIA against CONL (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/coia-vs-conl)