CONI vs. TSLR

Last updated Jul 17, 2026

CONI (GraniteShares 2x Short COIN Daily ETF) and TSLR (GraniteShares 2x Long TSLA Daily ETF) are both exchange-traded funds - CONI is a Inverse Equities fund actively managed by GraniteShares, while TSLR is a Leveraged Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, CONI returned 39.67% vs 8.78% for TSLR. At a correlation of -0.45, they often move in opposite directions. CONI charges 1.15%/yr vs 0.95%/yr for TSLR.

Performance

CONI vs. TSLR - Performance Comparison

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

Returns By Period

In the year-to-date period, CONI achieves a -26.58% return, which is significantly higher than TSLR's -35.42% return.

CONI

• 1D: 7.94%
• 1M: 1.63%
• 6M: -13.31%
• YTD: -26.58%
• 1Y: 39.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLR

• 1D: -1.52%
• 1M: -9.97%
• 6M: -31.50%
• YTD: -35.42%
• 1Y: 8.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CONI vs. TSLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CONI GraniteShares 2x Short COIN Daily ETF	-26.58%	-70.84%	-53.81%
TSLR GraniteShares 2x Long TSLA Daily ETF	-35.42%	-25.97%	204.58%

Correlation

The correlation between CONI and TSLR is -0.41, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.41
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024	-0.45

CONI vs. TSLR - Sectors Allocation Comparison

Sectors	CONI	TSLR
Financial Services	200.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	66.7%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

CONI vs. TSLR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CONI

CONI Risk / Return Rank: 21
CONI Sharpe Ratio Rank: 15
CONI Sortino Ratio Rank: 29
CONI Omega Ratio Rank: 30
CONI Calmar Ratio Rank: 17
CONI Martin Ratio Rank: 15

TSLR

TSLR Risk / Return Rank: 14
TSLR Sharpe Ratio Rank: 11
TSLR Sortino Ratio Rank: 18
TSLR Omega Ratio Rank: 17
TSLR Calmar Ratio Rank: 11
TSLR Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CONI vs. TSLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short COIN Daily ETF (CONI) and GraniteShares 2x Long TSLA Daily ETF (TSLR). 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	TSLR	Difference
Sharpe ratio: Return per unit of total volatility	0.29	0.10	+0.20
Sortino ratio: Return per unit of downside risk	1.34	0.79	+0.55
Omega ratio: Gain probability vs. loss probability	1.17	1.09	+0.08
Calmar ratio: Return relative to maximum drawdown	0.53	0.16	+0.37
Martin ratio: Return relative to average drawdown	0.93	0.31	+0.62

CONI vs. TSLR - Sharpe Ratio Comparison

The current CONI Sharpe Ratio is 0.29, which is higher than the TSLR Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of CONI and TSLR, 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. TSLR - Drawdown Comparison

The maximum CONI drawdown since its inception was -94.53%, which is greater than TSLR's maximum drawdown of -82.80%. Use the drawdown chart below to compare losses from any high point for CONI and TSLR.

Drawdown Indicators

	CONI	TSLR	Difference
Max Drawdown Largest peak-to-trough decline	-94.53%	-82.80%	-11.73%
Max Drawdown (1Y) Largest decline over 1 year	-75.12%	-54.37%	-20.75%
Current Drawdown Current decline from peak	-91.00%	-66.95%	-24.05%
Average Drawdown Average peak-to-trough decline	-74.20%	-50.75%	-23.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.89%	28.61%	+14.28%

Volatility

CONI vs. TSLR - Volatility Comparison

GraniteShares 2x Short COIN Daily ETF (CONI) and GraniteShares 2x Long TSLA Daily ETF (TSLR) have volatilities of 34.37% and 33.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CONI	TSLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.37%	33.75%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	113.00%	62.64%	+50.36%
Volatility (1Y) Calculated over the trailing 1-year period	135.58%	89.66%	+45.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	127.29%	115.51%	+11.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	127.29%	115.51%	+11.78%

CONI vs. TSLR - Expense Ratio Comparison

CONI has a 1.15% expense ratio, which is higher than TSLR's 0.95% expense ratio.

Dividends

CONI vs. TSLR - Dividend Comparison

CONI's dividend yield for the trailing twelve months is around 1.19%, while TSLR has not paid dividends to shareholders.

Position	TTM	2025	2024
CONI GraniteShares 2x Short COIN Daily ETF	1.19%	0.87%	1.39%
TSLR GraniteShares 2x Long TSLA Daily ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CONI and TSLR in my portfolio?

CONI and TSLR have a correlation of -0.41, 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 TSLR?

CONI has higher volatility (34.37%) compared to TSLR (33.75%). In terms of maximum drawdown, CONI dropped -94.53% vs TSLR's -82.80%.

Which ETF is better, CONI or TSLR?

On 1-year performance, CONI leads with 39.67% vs 8.78% for TSLR. On fees, TSLR is cheaper at 0.95% per year. On volatility, TSLR has been the lower-risk option at 33.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CONI or TSLR?

Over the 1-year period, CONI has performed better with a 39.67% return vs 8.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CONI or TSLR?

TSLR is cheaper with a 0.95% expense ratio, compared with 1.15% for CONI.

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

CONI has the higher dividend yield at 1.19%, compared with 0.00% for TSLR.

What is the main difference between CONI and TSLR?

CONI is categorized as Inverse Equities, while TSLR is Leveraged Equities. Their fees differ too: 1.15% for CONI and 0.95% for TSLR.

Which has better risk-adjusted returns?

CONI currently has the higher Sharpe Ratio (0.29 vs 0.10), 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.