CONI vs. PLTM

Last updated Aug 4, 2026

CONI (GraniteShares 2x Short COIN Daily ETF) and PLTM (GraniteShares Platinum Trust) are both exchange-traded funds - CONI is a Inverse Equities fund actively managed by GraniteShares, while PLTM is a Precious Metals fund tracking the Platinum London PM Fix ($/ozt). CONI is actively managed, while PLTM is passively managed. Over the past year, CONI returned 4.26% vs 22.74% for PLTM. Their -0.24 correlation means they have often moved in opposite directions in the past. CONI charges 1.15%/yr vs 0.50%/yr for PLTM.

Performance

CONI vs. PLTM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short COIN Daily ETF (CONI) and GraniteShares Platinum Trust (PLTM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CONI having a -20.06% return and PLTM slightly lower at -20.93%.

CONI

• 1D: 0.50%
• 1M: 13.68%
• 6M: -39.88%
• YTD: -20.06%
• 1Y: 4.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -68.85%

PLTM

• 1D: -1.70%
• 1M: 0.32%
• 6M: -24.12%
• YTD: -20.93%
• 1Y: 22.74%
• 3Y*: 20.15%
• 5Y*: 9.19%
• 10Y*: —
• ALL TIME*: 5.38%

*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)
CONI GraniteShares 2x Short COIN Daily ETF	$9.12M	$7.43M	$8.63M
PLTM GraniteShares Platinum Trust	$1.61M	$1.46M	$3.01M

CONI vs. PLTM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CONI GraniteShares 2x Short COIN Daily ETF	-20.06%	-70.84%	-53.81%
PLTM GraniteShares Platinum Trust	-20.93%	124.46%	-0.04%

Correlation

The correlation between CONI and PLTM is -0.30, 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.	-0.30
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024	-0.24

Return for Risk

CONI vs. PLTM — Risk / Return Rank

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

CONI

CONI Risk / Return Rank: 17
CONI Sharpe Ratio Rank: 11
CONI Sortino Ratio Rank: 26
CONI Omega Ratio Rank: 26
CONI Calmar Ratio Rank: 11
CONI Martin Ratio Rank: 11

PLTM

PLTM Risk / Return Rank: 22
PLTM Sharpe Ratio Rank: 22
PLTM Sortino Ratio Rank: 24
PLTM Omega Ratio Rank: 26
PLTM Calmar Ratio Rank: 20
PLTM Martin Ratio Rank: 18

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. PLTM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short COIN Daily ETF (CONI) and GraniteShares Platinum Trust (PLTM). 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	PLTM	Difference
Sharpe ratio: Return per unit of total volatility	0.03	0.45	-0.42
Sortino ratio: Return per unit of downside risk	1.02	0.89	+0.13
Omega ratio: Gain probability vs. loss probability	1.13	1.12	+0.01
Calmar ratio: Return relative to maximum drawdown	0.06	0.52	-0.46
Martin ratio: Return relative to average drawdown	0.09	1.00	-0.90

CONI vs. PLTM - Sharpe Ratio Comparison

The current CONI Sharpe Ratio is 0.03, which is lower than the PLTM Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of CONI and PLTM, 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. PLTM - Drawdown Comparison

The maximum CONI drawdown since its inception was -94.53%, which is greater than PLTM's maximum drawdown of -44.07%. Use the drawdown chart below to compare losses from any high point for CONI and PLTM.

Drawdown Indicators

	CONI	PLTM	Difference
Max Drawdown Largest peak-to-trough decline	-94.53%	-44.07%	-50.46%
Max Drawdown (1Y) Largest decline over 1 year	-75.12%	-44.07%	-31.05%
Max Drawdown (3Y) Largest decline over 3 years	—	-44.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-44.07%	—
Current Drawdown Current decline from peak	-90.20%	-41.59%	-48.61%
Average Drawdown Average peak-to-trough decline	-74.63%	-18.96%	-55.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.24%	22.90%	+22.34%

Volatility

CONI vs. PLTM - Volatility Comparison

GraniteShares 2x Short COIN Daily ETF (CONI) has a higher volatility of 39.35% compared to GraniteShares Platinum Trust (PLTM) at 8.99%. This indicates that CONI's price experiences larger fluctuations and is considered to be riskier than PLTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CONI	PLTM	Difference
Volatility (1M) Calculated over the trailing 1-month period	39.35%	8.99%	+30.36%
Volatility (6M) Calculated over the trailing 6-month period	116.58%	32.67%	+83.91%
Volatility (1Y) Calculated over the trailing 1-year period	135.85%	50.63%	+85.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	128.28%	33.17%	+95.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	128.28%	31.14%	+97.14%

CONI vs. PLTM - Expense Ratio Comparison

CONI has a 1.15% expense ratio, which is higher than PLTM's 0.50% expense ratio.

Dividends

CONI vs. PLTM - Dividend Comparison

CONI's dividend yield for the trailing twelve months is around 1.09%, while PLTM has not paid dividends to shareholders.

Position	TTM	2025	2024
CONI GraniteShares 2x Short COIN Daily ETF	1.09%	0.87%	1.39%
PLTM GraniteShares Platinum Trust	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CONI and PLTM in my portfolio?

CONI and PLTM have a correlation of -0.30, 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 PLTM?

CONI has higher volatility (39.35%) compared to PLTM (8.99%). In terms of maximum drawdown, CONI dropped -94.53% vs PLTM's -44.07%.

Which ETF is better, CONI or PLTM?

On 1-year performance, PLTM leads with 22.74% vs 4.26% for CONI. On fees, PLTM is cheaper at 0.50% per year. On volatility, PLTM has been the lower-risk option at 8.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CONI or PLTM?

Over the 1-year period, PLTM has performed better with a 22.74% return vs 4.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CONI or PLTM?

PLTM is cheaper with a 0.50% expense ratio, compared with 1.15% for CONI.

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

CONI has the higher dividend yield at 1.09%, compared with 0.00% for PLTM.

What is the main difference between CONI and PLTM?

CONI is categorized as Inverse Equities, while PLTM is Precious Metals. Their fees differ too: 1.15% for CONI and 0.50% for PLTM.

Which has better risk-adjusted returns?

PLTM currently has the higher Sharpe Ratio (0.45 vs 0.03), 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.