CONL vs. TQQQ
Compare and contrast key facts about GraniteShares 2x Long COIN Daily ETF (CONL) and ProShares UltraPro QQQ (TQQQ).
CONL and TQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CONL is an actively managed fund by GraniteShares. It was launched on Aug 9, 2022. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CONL or TQQQ.
Key characteristics
| CONL | TQQQ | |
|---|---|---|
| YTD Return | 74.56% | 48.06% |
| 1Y Return | 306.35% | 74.81% |
| Sharpe Ratio | 1.79 | 1.45 |
| Sortino Ratio | 2.82 | 1.92 |
| Omega Ratio | 1.32 | 1.26 |
| Calmar Ratio | 3.76 | 1.47 |
| Martin Ratio | 6.62 | 6.04 |
| Ulcer Index | 45.10% | 12.43% |
| Daily Std Dev | 167.04% | 51.88% |
| Max Drawdown | -82.62% | -81.66% |
| Current Drawdown | -30.61% | -13.36% |
Correlation
The correlation between CONL and TQQQ is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
CONL vs. TQQQ - Performance Comparison
In the year-to-date period, CONL achieves a 74.56% return, which is significantly higher than TQQQ's 48.06% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CONL vs. TQQQ - Expense Ratio Comparison
CONL has a 1.15% expense ratio, which is higher than TQQQ's 0.95% expense ratio.
Risk-Adjusted Performance
CONL vs. TQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long COIN Daily ETF (CONL) and ProShares UltraPro QQQ (TQQQ). 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.
Dividends
CONL vs. TQQQ - Dividend Comparison
CONL's dividend yield for the trailing twelve months is around 0.18%, less than TQQQ's 1.28% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
CONL GraniteShares 2x Long COIN Daily ETF | 0.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 1.28% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% | 0.03% |
Drawdowns
CONL vs. TQQQ - Drawdown Comparison
The maximum CONL drawdown since its inception was -82.62%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for CONL and TQQQ. For additional features, visit the drawdowns tool.
Volatility
CONL vs. TQQQ - Volatility Comparison
GraniteShares 2x Long COIN Daily ETF (CONL) has a higher volatility of 82.00% compared to ProShares UltraPro QQQ (TQQQ) at 16.89%. This indicates that CONL's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.