CONI vs. BKLC

Last updated Aug 2, 2026

CONI (GraniteShares 2x Short COIN Daily ETF) and BKLC (BNY Mellon US Large Cap Core Equity ETF) are both exchange-traded funds - CONI is a Inverse Equities fund actively managed by GraniteShares, while BKLC is a Large Cap Blend Equities fund tracking the Morningstar US Large Cap Index. CONI is actively managed, while BKLC is passively managed. Over the past year, CONI returned 3.74% vs 21.26% for BKLC. Their -0.56 correlation means they have often moved in opposite directions in the past. CONI charges 1.15%/yr vs 0.00%/yr for BKLC.

Performance

CONI vs. BKLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short COIN Daily ETF (CONI) and BNY Mellon US Large Cap Core Equity ETF (BKLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CONI achieves a -20.46% return, which is significantly lower than BKLC's 9.90% return.

CONI

• 1D: 20.89%
• 1M: 13.11%
• 6M: -35.87%
• YTD: -20.46%
• 1Y: 3.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -69.09%

BKLC

• 1D: 0.70%
• 1M: -0.06%
• 6M: 8.66%
• YTD: 9.90%
• 1Y: 21.26%
• 3Y*: 20.12%
• 5Y*: 12.94%
• 10Y*: —
• ALL TIME*: 18.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BKLC BNY Mellon US Large Cap Core Equity ETF	$18.57M	$19.73M	$22.60M
CONI GraniteShares 2x Short COIN Daily ETF	$8.69M	$7.39M	$8.65M

CONI vs. BKLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CONI GraniteShares 2x Short COIN Daily ETF	-20.46%	-70.84%	-53.81%
BKLC BNY Mellon US Large Cap Core Equity ETF	9.90%	18.06%	7.26%

Correlation

The correlation between CONI and BKLC is -0.58, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.58
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024	-0.56

The correlation between CONI and BKLC has been stable across timeframes, ranging from -0.58 to -0.56 - a consistent structural relationship.

CONI vs. BKLC - Sectors Allocation Comparison

Sectors	CONI	BKLC
Financial Services	200.0%	12.0%
Basic Materials	-	1.7%
Communication Services	-	9.5%
Consumer Cyclical	-	9.0%
Consumer Defensive	-	4.5%
Energy	-	3.5%
Healthcare	-	9.3%
Industrials	-	7.9%
Real Estate	-	1.8%
Technology	-	37.6%
Utilities	-	2.6%

Return for Risk

CONI vs. BKLC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CONI

CONI Risk / Return Rank: 25
CONI Sharpe Ratio Rank: 17
CONI Sortino Ratio Rank: 36
CONI Omega Ratio Rank: 36
CONI Calmar Ratio Rank: 20
CONI Martin Ratio Rank: 17

BKLC

BKLC Risk / Return Rank: 62
BKLC Sharpe Ratio Rank: 61
BKLC Sortino Ratio Rank: 59
BKLC Omega Ratio Rank: 60
BKLC Calmar Ratio Rank: 59
BKLC Martin Ratio Rank: 71

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CONI vs. BKLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short COIN Daily ETF (CONI) and BNY Mellon US Large Cap Core Equity ETF (BKLC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CONI	BKLC	Difference
Sharpe ratio: Return per unit of total volatility	0.27	1.43	-1.16
Sortino ratio: Return per unit of downside risk	1.35	1.98	-0.63
Omega ratio: Gain probability vs. loss probability	1.17	1.26	-0.08
Calmar ratio: Return relative to maximum drawdown	0.50	2.06	-1.56
Martin ratio: Return relative to average drawdown	0.84	8.65	-7.81

CONI vs. BKLC - Sharpe Ratio Comparison

The current CONI Sharpe Ratio is 0.27, which is lower than the BKLC Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of CONI and BKLC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CONI vs. BKLC - Drawdown Comparison

The maximum CONI drawdown since its inception was -94.53%, which is greater than BKLC's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for CONI and BKLC.

Drawdown Indicators

	CONI	BKLC	Difference
Max Drawdown Largest peak-to-trough decline	-94.53%	-26.14%	-68.39%
Max Drawdown (1Y) Largest decline over 1 year	-75.12%	-9.10%	-66.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.14%	—
Current Drawdown Current decline from peak	-90.25%	-1.66%	-88.59%
Average Drawdown Average peak-to-trough decline	-74.60%	-5.19%	-69.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.08%	2.17%	+42.91%

Volatility

CONI vs. BKLC - Volatility Comparison

GraniteShares 2x Short COIN Daily ETF (CONI) has a higher volatility of 40.36% compared to BNY Mellon US Large Cap Core Equity ETF (BKLC) at 3.52%. This indicates that CONI's price experiences larger fluctuations and is considered to be riskier than BKLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CONI	BKLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	40.36%	3.52%	+36.84%
Volatility (6M) Calculated over the trailing 6-month period	116.67%	10.31%	+106.36%
Volatility (1Y) Calculated over the trailing 1-year period	139.37%	13.15%	+126.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	128.42%	17.29%	+111.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	128.42%	17.39%	+111.03%

CONI vs. BKLC - Expense Ratio Comparison

CONI has a 1.15% expense ratio, which is higher than BKLC's 0.00% expense ratio.

Dividends

CONI vs. BKLC - Dividend Comparison

CONI's dividend yield for the trailing twelve months is around 1.10%, more than BKLC's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BKLC BNY Mellon US Large Cap Core Equity ETF	1.06%	1.05%	1.22%	1.35%	1.64%	1.10%	0.84%
CONI GraniteShares 2x Short COIN Daily ETF	1.10%	0.87%	1.39%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CONI and BKLC in my portfolio?

CONI and BKLC have a correlation of -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CONI or BKLC?

CONI has higher volatility (40.36%) compared to BKLC (3.52%). In terms of maximum drawdown, CONI dropped -94.53% vs BKLC's -26.14%.

Which ETF is better, CONI or BKLC?

On 1-year performance, BKLC leads with 21.26% vs 3.74% for CONI. On fees, BKLC is cheaper at 0.00% per year. On volatility, BKLC has been the lower-risk option at 3.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CONI or BKLC?

Over the 1-year period, BKLC has performed better with a 21.26% return vs 3.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CONI or BKLC?

BKLC is cheaper with a 0.00% expense ratio, compared with 1.15% for CONI.

Which ETF pays a higher dividend yield, CONI or BKLC?

CONI has the higher dividend yield at 1.10%, compared with 1.06% for BKLC.

What is the main difference between CONI and BKLC?

CONI is categorized as Inverse Equities, while BKLC is Large Cap Blend Equities. They also come from different issuers: GraniteShares and BNY Mellon. Their fees differ too: 1.15% for CONI and 0.00% for BKLC.

Which has better risk-adjusted returns?

BKLC currently has the higher Sharpe Ratio (1.43 vs 0.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.