IONL vs. COTG
IONL (GraniteShares 2x Long IONQ Daily ETF) and COTG (Leverage Shares 2X Long COST Daily ETF) are both Leveraged Equities funds. IONL is passively managed, while COTG is actively managed. At a correlation of -0.19, they often move in opposite directions. IONL charges 1.50%/yr vs 0.75%/yr for COTG.
Performance
IONL vs. COTG - Performance Comparison
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Returns By Period
In the year-to-date period, IONL achieves a -1.24% return, which is significantly lower than COTG's 15.84% return.
IONL
- 1D
- -2.31%
- 1M
- -24.66%
- YTD
- -1.24%
- 6M
- -25.60%
- 1Y
- -28.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COTG
- 1D
- 1.52%
- 1M
- -14.19%
- YTD
- 15.84%
- 6M
- 17.42%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IONL vs. COTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IONL GraniteShares 2x Long IONQ Daily ETF | -1.24% | -66.06% |
COTG Leverage Shares 2X Long COST Daily ETF | 15.84% | -22.61% |
Correlation
The correlation between IONL and COTG is -0.19, 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 (All Time) Calculated using the full available price history since Sep 18, 2025 | -0.19 |
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Return for Risk
IONL vs. COTG — Risk / Return Rank
IONL
COTG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IONL vs. COTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long IONQ Daily ETF (IONL) and Leverage Shares 2X Long COST Daily ETF (COTG). 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.
| IONL | COTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.13 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | — | — |
| Martin ratioReturn relative to average drawdown | -0.45 | — | — |
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Drawdowns
IONL vs. COTG - Drawdown Comparison
The maximum IONL drawdown since its inception was -93.41%, which is greater than COTG's maximum drawdown of -25.69%. Use the drawdown chart below to compare losses from any high point for IONL and COTG.
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Drawdown Indicators
| IONL | COTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.41% | -25.69% | -67.72% |
Max Drawdown (1Y)Largest decline over 1 year | -93.41% | — | — |
Current DrawdownCurrent decline from peak | -76.88% | -24.45% | -52.43% |
Average DrawdownAverage peak-to-trough decline | -51.02% | -9.72% | -41.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.33% | — | — |
Volatility
IONL vs. COTG - Volatility Comparison
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Volatility by Period
| IONL | COTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 57.44% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 134.01% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 186.14% | 40.02% | +146.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 195.72% | 40.02% | +155.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 195.72% | 40.02% | +155.70% |
IONL vs. COTG - Expense Ratio Comparison
IONL has a 1.50% expense ratio, which is higher than COTG's 0.75% expense ratio.
Dividends
IONL vs. COTG - Dividend Comparison
Neither IONL nor COTG has paid dividends to shareholders.
Frequently Asked Questions
IONL and COTG have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COTG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COTG is cheaper with a 0.75% expense ratio, compared with 1.50% for IONL.
IONL and COTG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for IONL and 0.75% for COTG.
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