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COIA vs CONL

ProShares Ultra COIN

COIACNYSE Arca

GraniteShares 2x Long COIN Daily ETF

CONLCNasdaq

Overlap

Expense ratio

COIA −0.11pt a year

COIA0.95%CONL1.06%

Avg volume · 30D

CONL 321.6×the volume

COIA64.2KCONL20.6M

COIA vs CONL Performance

Oct 31, 2025 – Oct 30, 2026

−91.6%COIA−91.3%CONL

Oct 31, 2025 to Oct 30, 2026. COIA −91.6%. CONL −91.3%. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2025Apr 2026Oct 2026
Expense ratio
COIA 0.95%, better
CONL 1.06%
Fund size
COIA $1M
CONL $459M
1Y total return
COIA −91.6%
CONL −91.3%, better
Yield (12M)
COIA No data
CONL 0.00%
Holdings
COIA 1
CONL 2
Avg volume (30D)
COIA 64.2K sh
CONL 20.6M sh, better
NAV per share
COIA $4.84
CONL $4.10
52W range

ETF.net Grade

COIA: Cost 53, Risk 28, Mission 99, Tradability 48, Holdings not scored, Durability 48. CONL: Cost 20, Risk 32, Mission 85, Tradability 75, Holdings not scored, Durability 73.
Pillar letters and Scores for COIA, CONL, with each pillar’s weight
PillarCOIACONL
Cost30% weightC53HigherF20
Mission25% weightA99HigherA85
Risk15% weightD28D32Higher
Tradability15% weightC48A75Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC48A73Higher

Rank among 2x Long Coinbase (COIN) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. COIA and CONL are both graded against the same 5 2x Long Coinbase (COIN) funds, so their Grades compare head to head.

2x Long Coinbase (COIN)⁠

Category · 5 funds
See all 5 ›

CONL ranks 3rd and COIA 4th of 5 funds in the 2x Long Coinbase (COIN) Category.

  1. Rank 1BCOIGLeverage Shares 2x Long COIN Daily ETFScore 65
  2. Rank 2BCONXDirexion Daily COIN Bull 2X ETFScore 58
  3. Rank 3CCONLGraniteShares 2x Long COIN Daily ETFScore 51
  4. Rank 4CCOIAProShares Ultra COINScore 40
  5. Rank 4CCOIXCorgi COIN 2x Daily ETFScore 40

Our read on each fund

ETF.net Research

COIACProShares Ultra COIN

CONLCGraniteShares 2x Long COIN Daily ETF

In short

COIA Coinbase, doubled daily. COIA is ProShares' 2x COIN fund, one of five chasing the same trade, from the firm that pioneered geared ETFs. It resets every day, which makes it a short-horizon tool rather than a buy-and-forget holding.

CONL The 2x Coinbase trade, in one ticker. CONL aims to double COIN's daily percentage move, resets that clock every session, and has been running since 2022 as one of the most actively traded ways to express a short-term bullish view on the exchange.

Stated mandate

COIA The fund seeks daily investment results, before fees and expenses, equal to twice the daily performance of Coinbase Global, Inc.'s Class A common shares.

CONL The Fund seeks daily leveraged investment results equal to two times the daily percentage change of Coinbase Global Inc. It is intended for traders with a short-term bullish view on COIN.

Why people hold it

  • COIA Built by the house that popularized geared ETFs: ProShares bills itself as the world's largest provider of leveraged and inverse funds, with nearly three decades of experience.proshares.com
  • Day to day, it has hugged its stated 2x COIN target closely, which is the entire job of a daily-reset fund.
  • 2x exposure to Coinbase through one ticker in an ordinary brokerage account, with no margin borrowing on your end.proshares.com
  • CONL No mystery in the mechanics: the fund targets two times Coinbase's daily percentage change, and the objective is spelled out in its own documents.graniteshares.com
  • Live since 2022 and very actively traded, so entering and exiting the position is rarely the hard part.
  • It has hit its stated daily 2x target closely, putting it among the stronger implementations in the 2x single-stock crowd.

Worth knowing

  • COIA The 0.95% is net of a waiver through September 30, 2027; gross is 2.54%. Cheaper 2x COIN options exist, including COIX at 0.20% and COIG at 0.78%, neither under a waiver.
  • Daily reset means compounding: hold longer than a day and results can diverge widely from 2x COIN, with choppy, high-volatility stretches the least forgiving.sec.gov
  • Still a small fund with only moderate trading, so spreads and premiums can run wider than at the busiest 2x COIN names.
  • CONL The leverage resets daily. Hold longer than a day and compounding takes over, so a choppy stretch in COIN can leave the fund short of twice the move.graniteshares.com
  • Two times a crypto-linked stock is a rough ride: drawdowns can be severe and fast. The issuer frames it as a tool for short-term traders.graniteshares.com
  • At 1.04% a year it sits near the middle of the COIN 2x lineup (COIA 1.08%, CONX 0.99%), while some 2x single-stock funds elsewhere charge 0.75%.

Full COIA profile⁠

Full CONL profile⁠

COIA vs CONL Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

COIA vs CONL Cost

Overpaying CONL vs COIA

$1,786

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • COIA 0.95%

    $17,869

  • CONL 1.06%

    $19,655

$10,000
30 years

Cost over time

  • COIA 0.95%
  • CONL 1.06%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530CONL $19,655COIA $17,869

Year by year

YearCOIACONLOverpaying
10$1,678$1,864$186
20$6,322$6,987$665
30$17,869$19,655$1,786

Expense ratio

  • 0.95%COIA, cheaper
  • 1.06%CONL
  • Middle half of 2x Long Coinbase (COIN) funds
  • Median 0.95%

COIA 3rd cheapest of 5 funds

CONL 5th cheapest of 5 funds

COIA vs CONL Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
COIA No data
CONL 0.00%
Payout (12M)
COIA No data
CONL None
Last payment
COIA $0.12
CONL No data
Ex-dividend
COIA Sep 23, 2026
CONL No data
Paid on
COIA Sep 29, 2026
CONL No data
Frequency
COIA Quarterly
CONL No data

Distribution history

Per share, 2024 to 2026, same scale for both

COIAQuarterly · 4 paymentsAll COIA payments⁠
One bar per payment. 4 payments from 2024 to 2026 YTD. Dec 24, 2025 $0.26; Mar 25, 2026 $0.15; Jun 24, 2026 $0.06; Sep 23, 2026 $0.12. Use the arrow keys to read each point.$0$0.252026YTD
CONL1 paymentAll CONL payments⁠
One bar per payment. 1 payment from 2024 to 2026 YTD. Feb 27, 2024 $0.11. Use the arrow keys to read each point.$0$0.252026YTD

COIA vs CONL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
COIA 96.3%since Oct 2025CONL 171.5%
Return per unit of riskSharpe ratio, 3 years
COIA −1.75since Oct 2025CONL 0.42
Worst fallMax drawdown, 5 years
COIA −93.6%since Sep 2025CONL −96.2%since Aug 2022
Market sensitivityBeta, 5 years
COIA 2.50CONL 6.10

COIA and CONL in the news

All news⁠

Popular comparisons

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