# CONI (GraniteShares 2x Short COIN Daily ETF)

GraniteShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: CONI returned −44.4% where its own daily promise gave −43.2%, 1.1 points short.

## Key facts

- CONI, what COIN did: +9.7%, as of Sep 11, 2026.
- CONI, what −2 times a day gives: −43.2%, as of Sep 11, 2026.
- CONI, what the fund returned: −44.4%, as of Sep 11, 2026.
- CONI, the fund itself cost: −1.1 pts, as of Sep 11, 2026.
- CONI, expense ratio: 1.15% (485BPOS XBRL, Oct 24, 2025).
- CONI, underlying: COIN, as of Sep 11, 2026.

## CONI over each window to Sep 11, 2026

| Window | Fund | COIN | -2x the move | Difference | COIN moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −39.8% | +17.6% | −35.2% | −4.6 pts | 81% |
| 3 months | −44.4% | +9.7% | −19.4% | −25.0 pts | 71% |
| 6 months | −42.3% | −10.4% | +20.7% | −63.0 pts | 69% |
| 1 year | −33.2% | −45.9% | +91.8% | −125.0 pts | 71% |
| Since launch | −93.8% | +7.4% | −14.8% | −79.1 pts | 78% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of COIN, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -4.58 times, against -2 stated | ETFIQ |
| Underlying | COIN | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Expense ratio | 1.15% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Sep 4, 2024 | ETFIQ |
| Underlying volatility over the window | 71% annualized | ETFIQ |

## Questions

### Did CONI return -2 times COIN?

Over the window to Sep 11, 2026, COIN moved +9.7% and CONI returned −44.4%. 2 times that move is −19.4%, so the fund came out 25.0 points short of it.

### Why does CONI not return -2 times over a year?

Because it resets daily. CONI aims at -2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, CONI, data as of Sep 11, 2026. https://etfiq.com/funds/CONI
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/CONI  ·  JSON: https://etfiq.com/funds/CONI.json