Skip to content
etf.net

CONL vs CONX

GraniteShares 2x Long COIN Daily ETF

CONLCNasdaq

Direxion Daily COIN Bull 2X ETF

CONXBNasdaq

Overlap

Expense ratio

CONX −0.09pt a year

CONL1.06%CONX0.97%

Avg volume · 30D

CONL 150.4×the volume

CONL20.6MCONX137K

CONL vs CONX Performance

Dec 31, 2025 – Oct 30, 2026

−78.0%CONL−77.4%CONX

Dec 31, 2025 to Oct 30, 2026. CONL −78.0%. CONX −77.4%. Use the arrow keys to read each point.−40%−20%0%20%Dec 2025Jun 2026Oct 2026
Expense ratio
CONL 1.06%
CONX 0.97%, better
Fund size
CONL $459M
CONX $5M
1Y total return
CONL −91.3%
CONX No data
Yield (12M)
CONL 0.00%
CONX No data
Holdings
CONL 2
CONX 8
Avg volume (30D)
CONL 20.6M sh, better
CONX 137K sh
NAV per share
CONL $4.10
CONX $5.00
52W range

ETF.net Grade

CONL: Cost 20, Risk 32, Mission 85, Tradability 75, Holdings not scored, Durability 73. CONX: Cost 38, Risk 63, Mission 93, Tradability 38, Holdings not scored, Durability 52.
Pillar letters and Scores for CONL, CONX, with each pillar’s weight
PillarCONLCONX
Cost30% weightF20D38Higher
Mission25% weightA85A93Higher
Risk15% weightD32B63Higher
Tradability15% weightA75HigherD38
Holdings10% weightNot scoredNot scored
Durability5% weightA73HigherC52

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. CONL and CONX 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 ›

CONX ranks 2nd and CONL 3rd 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

Our read on each fund

ETF.net Research

CONLCGraniteShares 2x Long COIN Daily ETF

CONXBDirexion Daily COIN Bull 2X ETF

In short

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.

CONX Direxion's entry in the most crowded corner of leveraged single-stock land: 200% of Coinbase's daily move, reset every night. Fee is 0.97% net of a waiver through September 1, 2027.

Stated mandate

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.

CONX 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

  • 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.
  • CONX The job is hitting 200% of COIN's daily move, and this one has tracked that target closely, one of the stronger implementations in the small 2x COIN field.direxion.com
  • 0.97% net of a waiver through September 1, 2027, on a 0.99% gross, which lands near the middle of its peer group. COIX lists 0.20%, with no waiver attached.sec.gov
  • Per its summary prospectus, at least 80% of net assets sit in COIN shares and instruments like swaps. Leveraged exposure arrives as an ordinary ETF share, no margin account or options chain.sec.gov

Worth knowing

  • 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%.
  • CONX The leverage resets daily. Over any stretch longer than one trading day, results follow COIN's path, not 200% of its net move, as Direxion's filings spell out.sec.gov
  • A November 2025 launch, and one of the smaller, more moderately traded funds in its group. Thinner volume can show up in your trading costs.
  • Everything rides on one company. And the expense cap is recoupable: the adviser can claw back waived amounts within three years if expenses later fall below the cap.sec.gov

Full CONL profile⁠

Full CONX profile⁠

CONL vs CONX 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.

CONL vs CONX Cost

Overpaying CONL vs CONX

$1,457

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

  • CONL 1.06%

    $19,655

  • CONX 0.97%

    $18,198

$10,000
30 years

Cost over time

  • CONL 1.06%
  • CONX 0.97%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530CONL $19,655CONX $18,198

Year by year

YearCONLCONXOverpaying
10$1,864$1,712$152
20$6,987$6,443$544
30$19,655$18,198$1,457

Expense ratio

  • 1.06%CONL
  • 0.97%CONX, cheaper
  • Middle half of 2x Long Coinbase (COIN) funds
  • Median 0.95%

CONX 4th cheapest of 5 funds

CONL 5th cheapest of 5 funds

CONL vs CONX Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CONL 0.00%
CONX No data
Payout (12M)
CONL None
CONX No data
Last payment
CONL No data
CONX $0.03
Ex-dividend
CONL No data
CONX Sep 22, 2026
Paid on
CONL No data
CONX Sep 29, 2026
Frequency
CONL No data
CONX Quarterly

Distribution history

Per share, 2024 to 2026, same scale for both

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$0.102026YTD
CONXQuarterly · 4 paymentsAll CONX payments⁠
One bar per payment. 4 payments from 2024 to 2026 YTD. Dec 23, 2025 $0.07; Mar 24, 2026 $0.07; Jun 23, 2026 $0.03; Sep 22, 2026 $0.03. Use the arrow keys to read each point.$0$0.102026YTD

CONL vs CONX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CONL 171.5%CONX No data
Return per unit of riskSharpe ratio, 3 years
CONL 0.42CONX No data
Worst fallMax drawdown, 5 years
CONL −96.2%since Aug 2022CONX No data
Market sensitivityBeta, 5 years
CONL 6.10CONX 2.23

CONL and CONX in the news

All news⁠

Popular comparisons

  • CONLCvsCOIGB

    GraniteShares 2x Long COIN Daily ETF · Leverage Shares 2x Long COIN Daily ETF

    Expense ratio
    1.06% · 0.78%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • CONXBvsCOIGB

    Direxion Daily COIN Bull 2X ETF · Leverage Shares 2x Long COIN Daily ETF

    Expense ratio
    0.97% · 0.78%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • CONLCvsCOIAC

    GraniteShares 2x Long COIN Daily ETF · ProShares Ultra COIN

    Expense ratio
    1.06% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • CONXBvsCOIAC

    Direxion Daily COIN Bull 2X ETF · ProShares Ultra COIN

    Expense ratio
    0.97% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • CONLCvsCOIXC

    GraniteShares 2x Long COIN Daily ETF · Corgi COIN 2x Daily ETF

    Expense ratio
    1.06% · 0.20%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • CONXBvsCOIXC

    Direxion Daily COIN Bull 2X ETF · Corgi COIN 2x Daily ETF

    Expense ratio
    0.97% · 0.20%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.