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CONI

GradeCNASDAQ

GraniteShares 2x Short COIN Daily ETF

Leveraged · Single-Stock Leveraged · GraniteShares · Inception 2024-09-03

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$21.41+0.47 (+2.24%)

As of Sep 23, 2026, 3:04 PM EDT

History starts Sep 4, 2024.
Intraday session: up, 67 prints from 20.94 to 21.41. Range 20.32 to 21.93. Use the arrow keys to read each point.$20.50$21.00$22.0010 AM12 PM2 PM4 PM
Expense ratio
2.11%
Fund size
$15M
1Y return
−52.0%
Yield · Last 12 months
2.85%
Holdings
2
Volume · 30D
0.2M sh
NAV per share
$20.92
52W range
low $19.30high $141.65

The ETF.net CONI Grade

C

49/ 100

Rank 25 of 58 in Single-Stock Inverse⁠

Confidence High

Six-pillar profile for CONI. Scores out of 100: Cost 9, Risk 55, Mission 98, Tradability 40, Holdings not scored, Durability 61. Strongest: Mission (98). Weakest: Cost (9). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 49 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 9
    Category rank53/58 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 98
    Category rank7/31 · top 23%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 55
    Category rank16/48 · top 33%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 40
    Category rank34/58 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 61
    Category rank19/58 · top 33%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on CONI

ETF.net Research

CShorting Coinbase, doubled, without a margin account. CONI aims to deliver -2x COIN's move each day, then resets. That daily reset is the whole story: it is built as a short-horizon trading tool, not a set-and-forget position.

Stated mandate

The Fund seeks daily inverse results equal to -2 times the daily percentage change of Coinbase Global Inc.

Why people hold it

  1. 01Double-strength inverse exposure to Coinbase from a plain brokerage account: no margin agreement, no share borrow, no locate to chase.
  2. 02Does one thing and says so up front: -2x COIN, reset daily, no discretion or stock picking. Day to day, it has tracked that stated target closely.
  3. 03Standard 1940 Act fund plumbing: a 1099 rather than a K-1, and no margin call, because the most at stake is the money in the position.

Worth knowing

  1. 01At 2.11% a year, one of the pricier tickets in the inverse single-stock aisle. GraniteShares' own 2x short Tesla fund, TSDD, runs 1.13%.
  2. 02Hold past a day and the path matters, not just the direction. Daily reset compounding means a chopping COIN can grind the fund down even on down weeks.
  3. 03A smaller fund with moderate volume, so bid-ask spreads can run wider than the heaviest-traded names in this category.

CONI Holdings

As of Sep 21, 2026, 4:06 AM
Asset class
Other
Holdings
2
Top-10 weight
200%
Largest holding
COIN SWAP200.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—COIN SWAP199.95%-152,194$-26M2

Showing 1–1 of 1 holdings

CONI Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

CONI$4,799
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. CONI $4,799. SPY $11,723. Use the arrow keys to read each point.$3,008$15,993$28,977Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for CONI. Periods over one year show the average yearly return.
PeriodCONI
Year to date−69.3%
1 month−31.2%
3 months−59.6%
1 year−52.0%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for CONI
YearReturn barCONI
2026 YTD−69.3%
2025−70.8%
2024−53.7%

History from Sep 4, 2024

CONI in the news

ETF.net Research hasn’t filed on CONI yet — coverage lands here as it’s written.

CONI Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
2.85%Last 12 months
Payout per share
$0.60Last 12 months
Last payment
$0.60 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 27, 2024 $3.29; Dec 29, 2025 $0.60. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 29, 2025Dec 31, 2025$0.60
Dec 27, 2024Dec 31, 2024$3.29

CONI Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
109.4%
Annualised · 23 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.68
vs 3-month T-bills · 23 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−96.2%
24 months · trough Sep 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−4.23
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

CONI Cost

Expense ratio2.11%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

37 of the 43 Single-Stock Inverse funds charge less.

CONI costs $211.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.