# CONI (GraniteShares 2x Short COIN Daily ETF)

GraniteShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: CONI returned −53.7% where its own daily promise gave −52.8%, 0.9 points short.

## Key facts

- CONI, what COIN did: +17.1%, as of Sep 30, 2026.
- CONI, what −2 times a day gives: −52.8%, as of Sep 30, 2026.
- CONI, what the fund returned: −53.7%, as of Sep 30, 2026.
- CONI, the fund itself cost: −0.9 pts, as of Sep 30, 2026.
- CONI, net assets: $13m (issuer page, as of Sep 30, 2026).
- CONI, expense ratio: 1.15% (485BPOS XBRL, Oct 24, 2025).

## CONI over each window to Sep 30, 2026

| Window | Fund | COIN | -2x the move | Difference | COIN moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −15.6% | −0.9% | +1.8% | −17.4 pts | 83% |
| 3 months | −53.7% | +17.1% | −34.1% | −19.6 pts | 75% |
| 6 months | −61.6% | +7.8% | −15.5% | −46.1 pts | 70% |
| 1 year | −41.3% | −44.8% | +89.5% | −130.8 pts | 72% |
| Since launch | −95.2% | +14.2% | −28.4% | −66.8 pts | 79% |

## 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 | -3.15 times, against -2 stated | ETFIQ |
| Underlying | COIN | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $13m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.15% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Sep 4, 2024 | ETFIQ |
| Underlying volatility over the window | 75% annualized | ETFIQ |

## Questions

### Did CONI return -2 times COIN?

Over the window to Sep 30, 2026, COIN moved +17.1% and CONI returned −53.7%. −2 times that move is −34.1%, so the fund came out 19.6 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 30, 2026. https://etfiq.com/funds/coni
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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