PLTM vs. CONL

Last updated Jun 4, 2026

PLTM (GraniteShares Platinum Trust) and CONL (GraniteShares 2x Long COIN Daily ETF) are both exchange-traded funds - PLTM is a Precious Metals fund tracking the Platinum London PM Fix ($/ozt), while CONL is a Leveraged Equities fund actively managed by GraniteShares. PLTM is passively managed, while CONL is actively managed. Over the past 3 years, PLTM returned 22.22%/yr vs -14.88%/yr for CONL. At a 0.20 correlation, their price movements are largely independent. PLTM charges 0.50%/yr vs 1.15%/yr for CONL.

Performance

PLTM vs. CONL - Performance Comparison

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

Returns By Period

In the year-to-date period, PLTM achieves a -9.33% return, which is significantly higher than CONL's -62.12% return.

PLTM

• 1D: -3.82%
• 1M: -4.28%
• YTD: -9.33%
• 6M: 11.67%
• 1Y: 71.85%
• 3Y*: 22.22%
• 5Y*: 9.22%
• 10Y*: —

CONL

• 1D: -12.32%
• 1M: -38.47%
• YTD: -62.12%
• 6M: -75.31%
• 1Y: -79.34%
• 3Y*: -14.88%
• 5Y*: —
• 10Y*: —

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

PLTM vs. CONL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PLTM GraniteShares Platinum Trust	-9.33%	124.46%	-8.91%	-8.10%	14.57%
CONL GraniteShares 2x Long COIN Daily ETF	-62.12%	-58.49%	4.23%	641.63%	-78.28%

Correlation

The correlation between PLTM and CONL is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022	0.20

PLTM vs. CONL - Sectors Allocation Comparison

Sectors	PLTM	CONL
Real Estate	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PLTM vs. CONL — Risk / Return Rank

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

PLTM

PLTM Risk / Return Rank: 36
PLTM Sharpe Ratio Rank: 39
PLTM Sortino Ratio Rank: 33
PLTM Omega Ratio Rank: 39
PLTM Calmar Ratio Rank: 42
PLTM Martin Ratio Rank: 30

CONL

CONL Risk / Return Rank: 3
CONL Sharpe Ratio Rank: 4
CONL Sortino Ratio Rank: 4
CONL Omega Ratio Rank: 4
CONL Calmar Ratio Rank: 2
CONL Martin Ratio Rank: 3

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.

PLTM vs. CONL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Platinum Trust (PLTM) and GraniteShares 2x Long COIN Daily ETF (CONL). 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.

	PLTM	CONL	Difference
Sharpe ratio: Return per unit of total volatility	1.41	-0.57	+1.98
Sortino ratio: Return per unit of downside risk	1.80	-0.65	+2.45
Omega ratio: Gain probability vs. loss probability	1.26	0.93	+0.33
Calmar ratio: Return relative to maximum drawdown	2.09	-0.86	+2.96
Martin ratio: Return relative to average drawdown	4.43	-1.21	+5.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLTM vs. CONL - Sharpe Ratio Comparison

The current PLTM Sharpe Ratio is 1.41, which is higher than the CONL Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of PLTM and CONL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PLTM	CONL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	-0.57	+1.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	-0.20	+0.43

Drawdowns

PLTM vs. CONL - Drawdown Comparison

The maximum PLTM drawdown since its inception was -42.32%, smaller than the maximum CONL drawdown of -93.95%. Use the drawdown chart below to compare losses from any high point for PLTM and CONL.

Drawdown Indicators

	PLTM	CONL	Difference
Max Drawdown Largest peak-to-trough decline	-42.32%	-93.95%	+51.63%
Max Drawdown (1Y) Largest decline over 1 year	-34.52%	-92.02%	+57.50%
Max Drawdown (3Y) Largest decline over 3 years	-34.52%	-93.95%	+59.43%
Max Drawdown (5Y) Largest decline over 5 years	-34.52%	—	—
Current Drawdown Current decline from peak	-33.02%	-93.48%	+60.46%
Average Drawdown Average peak-to-trough decline	-18.55%	-55.95%	+37.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.28%	65.74%	-49.46%

Volatility

PLTM vs. CONL - Volatility Comparison

The current volatility for GraniteShares Platinum Trust (PLTM) is 10.88%, while GraniteShares 2x Long COIN Daily ETF (CONL) has a volatility of 38.02%. This indicates that PLTM experiences smaller price fluctuations and is considered to be less risky than CONL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLTM	CONL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.88%	38.02%	-27.14%
Volatility (6M) Calculated over the trailing 6-month period	45.45%	101.03%	-55.58%
Volatility (1Y) Calculated over the trailing 1-year period	51.40%	139.40%	-88.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.83%	149.93%	-117.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.98%	149.93%	-118.95%

PLTM vs. CONL - Expense Ratio Comparison

PLTM has a 0.50% expense ratio, which is lower than CONL's 1.15% expense ratio.

Dividends

PLTM vs. CONL - Dividend Comparison

Neither PLTM nor CONL has paid dividends to shareholders.

Position	TTM	2025	2024
CONL GraniteShares 2x Long COIN Daily ETF	0.00%	0.00%	0.31%
PLTM GraniteShares Platinum Trust	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PLTM and CONL in my portfolio?

PLTM and CONL have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTM or CONL?

CONL has higher volatility (38.02%) compared to PLTM (10.88%). In terms of maximum drawdown, PLTM dropped -42.32% vs CONL's -93.95%.

Which ETF is better, PLTM or CONL?

On 3-year performance, PLTM leads with 22.22% vs -14.88% for CONL. On fees, PLTM is cheaper at 0.50% per year. On volatility, PLTM has been the lower-risk option at 10.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTM or CONL?

Over the 3-year period, PLTM has performed better with a 22.22% return vs -14.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTM or CONL?

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

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

PLTM and CONL have nearly identical dividend yields, around 0.00%.

What is the main difference between PLTM and CONL?

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

Which has better risk-adjusted returns?

PLTM currently has the higher Sharpe Ratio (1.41 vs -0.57), 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.