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CONX

GradeBNASDAQ Global Market

Direxion Daily COIN Bull 2X ETF

Leveraged · Single-Stock Leveraged · Direxion · Inception 2025-11-19 · SEC filings

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.

$8.01−0.14 (−1.72%)

As of Sep 23, 2026, 1:55 PM EDT

History starts Nov 19, 2025.History starts Nov 19, 2025.
Intraday session: down, 32 prints from 8.15 to 8.01. Range 7.74 to 8.35. Use the arrow keys to read each point.$7.80$8.20$8.4010 AM12 PM2 PM4 PM
Expense ratio
0.99%
Fund size
$6M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0.1M sh
NAV per share
$6.21
52W range
low $4.34high $28.34

The ETF.net CONX Grade

B

61/ 100

Rank 2 of 5 in 2x Long Coinbase (COIN)⁠

Confidence Medium

Six-pillar profile for CONX. Scores out of 100: Cost 51, Risk 55, Mission 94, Tradability 37, Holdings not scored, Durability 49. Strongest: Mission (94). Weakest: Tradability (37). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 61 of 100 sits in the B 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.
    CScore 51
    Category rank3/5 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 94
    Category rank2/4 · top 50%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 55
    Category rank2/5 · top 40%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 37
    Category rank4/5 · bottom quartile

  • 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.
    CScore 49
    Category rank3/5 · mid-pack

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

Our read on CONX

ETF.net Research

BDirexion's late entry into the Coinbase leverage fight: 2x the daily move in COIN, priced a shade under the funds that got there first. A day-trader's tool that resets every session, not a set-and-forget holding.

Stated mandate

The fund seeks daily investment results equal to 200% of the performance of Coinbase Global, Inc. common shares, before fees and expenses.

Why people hold it

  1. 01Cheapest of the three 2x COIN funds at 0.99% a year, undercutting CONL (1.04%) and COIA (1.08%), and priced below the leveraged single-stock median.
  2. 02Does exactly what the label says: 200% of Coinbase's daily move before fees, and it has tracked that daily target closely since launch.direxion.com
  3. 03Pure single-name exposure through a mix of COIN shares and swaps. No crypto-basket dilution, no margin agreement, and losses are capped at what you put in.direxion.com

Worth knowing

  1. 01The 2x objective is a one-day objective. Hold longer and compounding takes over, so multi-day results can land far from twice COIN's move, especially in choppy tape.direxion.com
  2. 02Coinbase is a volatile single stock and this doubles that volatility daily. Drawdowns can be brutal, and the fund loses money on any down day for COIN.direxion.com
  3. 03Launched in late 2025, still a small fund and only moderately traded, so trading costs and fill quality can lag the longer-running COIN leverage products.

CONX Holdings

As of Sep 22, 2026, 10:02 PM
Asset class
Stocks
Holdings
—
Top-10 weight
100%
Largest holding
COIN SWAP ASSET LEG (COINMLL)34.1%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—COIN SWAP ASSET LEG (COINMLL)34.14%34,253$7M1
002—COIN SWAP ASSET LEG (COINBCL)21.85%21,927$4M1
003—GOLDMAN FINL SQ TRSRY INST 50617.75%3,580,656$4M100
004—COIN SWAP ASSET LEG (COINCTL)9.78%9,810$2M1
005—DREYFUS GOVT CASH MAN INS7.63%1,538,893$2M108
006—GOLDMAN SACHS FIN GOV 465 INSTITUT5.70%1,150,000$1M75
007COINCOINBASE GLOBAL INC -CLASS A3.06%3,067$617K266
008—COIN SWAP ASSET LEG (COINGSL)0.10%100$20K1

Showing 1–8 of 8 holdings

CONX Performance

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

CONX$4,658
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. CONX $4,658. SPY $11,430. Use the arrow keys to read each point.$1,941$7,675$13,409Dec 2025May 2026Sep 2026

Dec 31, 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 CONX. Periods over one year show the average yearly return.
PeriodCONX
Year to date−53.4%
1 month+7.0%
3 months+22.8%
1 yearFund is under 1 year old—
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 CONX
YearReturn barCONX
2026 YTD−53.4%
2025−26.3%

Since listing, Nov 19, 2025

CONX in the news

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

CONX 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.03 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 3 payments from 2025 to 2026 YTD. Dec 23, 2025 $0.07; Mar 24, 2026 $0.07; Jun 23, 2026 $0.03. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 23, 2026Jun 30, 2026$0.03
Mar 24, 2026Mar 31, 2026$0.07
Dec 23, 2025Dec 31, 2025$0.07

CONX 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.
—
Launched Nov 2025; fills in after 12 months
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.
—
Launched Nov 2025; fills in after 12 months
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.
—
Launched Nov 2025; fills in after 12 months
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.
2.23
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.

CONX Cost

Expense ratio0.99%
  • The middle half of 2x Long Coinbase (COIN) funds
  • Median 0.99%

2 of the 5 2x Long Coinbase (COIN) funds charge less.

CONX costs $99.00 a year on $10,000. The median 2x Long Coinbase (COIN) fund costs $99.00.