CONX vs. HOOG

Last updated Jun 23, 2026

CONX (Direxion Daily COIN Bull 2X ETF) and HOOG (Leverage Shares 2X Long HOOD Daily ETF) are both Leveraged Equities funds. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. CONX charges 0.97%/yr vs 0.75%/yr for HOOG.

Performance

CONX vs. HOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily COIN Bull 2X ETF (CONX) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CONX achieves a -62.11% return, which is significantly lower than HOOG's -37.65% return.

CONX

• 1D: 1.71%
• 1M: -24.09%
• YTD: -62.11%
• 6M: -68.66%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HOOG

• 1D: -4.37%
• 1M: 92.50%
• YTD: -37.65%
• 6M: -47.26%
• 1Y: -5.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CONX vs. HOOG - Yearly Performance Comparison

	2026 (YTD)	2025
CONX Direxion Daily COIN Bull 2X ETF	-62.11%	-21.90%
HOOG Leverage Shares 2X Long HOOD Daily ETF	-37.65%	-9.74%

Correlation

The correlation between CONX and HOOG is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	0.81

Return for Risk

CONX vs. HOOG — Risk / Return Rank

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

CONX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HOOG

HOOG Risk / Return Rank: 12
HOOG Sharpe Ratio Rank: 8
HOOG Sortino Ratio Rank: 18
HOOG Omega Ratio Rank: 17
HOOG Calmar Ratio Rank: 8
HOOG Martin Ratio Rank: 8

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.

CONX vs. HOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily COIN Bull 2X ETF (CONX) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). 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.

	CONX	HOOG	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.04	—
Sortino ratio: Return per unit of downside risk	—	0.98	—
Omega ratio: Gain probability vs. loss probability	—	1.12	—
Calmar ratio: Return relative to maximum drawdown	—	-0.07	—
Martin ratio: Return relative to average drawdown	—	-0.11	—

Drawdowns

CONX vs. HOOG - Drawdown Comparison

The maximum CONX drawdown since its inception was -78.48%, smaller than the maximum HOOG drawdown of -86.94%. Use the drawdown chart below to compare losses from any high point for CONX and HOOG.

Drawdown Indicators

	CONX	HOOG	Difference
Max Drawdown Largest peak-to-trough decline	-78.48%	-86.94%	+8.46%
Max Drawdown (1Y) Largest decline over 1 year	—	-86.94%	—
Current Drawdown Current decline from peak	-75.31%	-70.92%	-4.39%
Average Drawdown Average peak-to-trough decline	-50.76%	-38.94%	-11.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	55.79%	—

Volatility

Volatility by Period

	CONX	HOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	46.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	101.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	144.01%	139.56%	+4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	144.01%	144.89%	-0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.01%	144.89%	-0.88%

CONX vs. HOOG - Expense Ratio Comparison

CONX has a 0.97% expense ratio, which is higher than HOOG's 0.75% expense ratio.

Dividends

CONX vs. HOOG - Dividend Comparison

CONX's dividend yield for the trailing twelve months is around 2.14%, less than HOOG's 19.73% yield.

Position	TTM	2025
CONX Direxion Daily COIN Bull 2X ETF	2.14%	0.42%
HOOG Leverage Shares 2X Long HOOD Daily ETF	19.73%	12.30%

Frequently Asked Questions

Can I hold both CONX and HOOG in my portfolio?

CONX and HOOG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CONX or HOOG?

On fees, HOOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CONX or HOOG?

HOOG is cheaper with a 0.75% expense ratio, compared with 0.97% for CONX.

Which ETF pays a higher dividend yield, CONX or HOOG?

HOOG has the higher dividend yield at 19.73%, compared with 2.14% for CONX.

What is the main difference between CONX and HOOG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.97% for CONX and 0.75% for HOOG.