{"url":"https://etfiq.com/compare/leverage/coni-vs-conl","section":"compare","title":"CONI vs CONL: which held to its multiple? | ETFIQ","description":"CONI sets out to return -2 times COIN each day and CONL +2 times. Over the three months to Sep 30, 2026 they finished \u221219.6 pts and \u221219.8 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, CONI or CONL?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, CONI finished 19.6 points from what its multiple implies and CONL finished 19.8 points from its own, so CONI came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are CONI and CONL levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Coinbase Global, CONI at -2 times and CONL at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, CONI or CONL?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window CONI\u2019s moved at 75% annualized and CONL\u2019s at 75%, so CONI has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold CONI or CONL for a year?","acceptedAnswer":{"@type":"Answer","text":"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\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, CONI or CONL?","acceptedAnswer":{"@type":"Answer","text":"CONI charges 1.15% a year and CONL charges 1.04%, so CONL is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"CONI vs CONL","item":"https://etfiq.com/compare/leverage/coni-vs-conl"}]},{"@type":"WebPage","name":"CONI vs CONL: which held to its multiple?","description":"CONI sets out to return -2 times COIN each day and CONL +2 times. Over the three months to Sep 30, 2026 they finished \u221219.6 pts and \u221219.8 pts away.","url":"https://etfiq.com/compare/leverage/coni-vs-conl","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, CONI finished 0.9 points short and CONL 5.2 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of CONI and CONL","description":"CONI sets out to return -2 times COIN each day and CONL +2 times. Over the three months to Sep 30, 2026 they finished \u221219.6 pts and \u221219.8 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/coni-vs-conl","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":7291,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / CONI vs CONL \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n CONI vs CONL: which held to its multiple?\n\n Over three months against its own daily promise, CONI finished 0.9 points short and CONL 5.2 points short.\n Copy this for sharing \n \n GraniteShares 2x Short COIN Daily ETF and GraniteShares 2x Long COIN Daily ETF.\n\n Download as PDF \n\n \u221253.7% CONI returned, 3 months \n +14.3% CONL returned, 3 months \n \u221219.6 pts CONI from its stated multiple \n \u221219.8 pts CONL from its stated multiple \n\n ETFIQ Decay Resistance Score: CONL scores hig","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/coni-vs-conl","a":{"ticker":"CONI","name":"GraniteShares 2x Short COIN Daily ETF","issuer":"GraniteShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: CONI returned \u221253.7% where its own daily promise gave \u221252.8%, 0.9 points short.","url":"https://etfiq.com/funds/coni","key_facts":[{"label":"What COIN did","value":"+17.1%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u221252.8%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221253.7%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22120.9 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$13m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.15%","as_of":"2026-09-30","source":"485BPOS XBRL, Oct 24, 2025"}]},"b":{"ticker":"CONL","name":"GraniteShares 2x Long COIN Daily ETF","issuer":"GraniteShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: CONL returned +14.3% where its own daily promise gave +19.5%, 5.2 points short.","url":"https://etfiq.com/funds/conl","key_facts":[{"label":"What COIN did","value":"+17.1%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+19.5%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+14.3%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22125.2 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$549m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.04%","as_of":"2026-09-30","source":"485BPOS XBRL, Oct 24, 2025"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/coni-vs-conl"}