PTIR vs. CONL

Last updated Aug 4, 2026

PTIR (GraniteShares 2x Long PLTR Daily ETF) and CONL (GraniteShares 2x Long COIN Daily ETF) are both Leveraged Equities funds from GraniteShares. PTIR is passively managed, while CONL is actively managed. Over the past year, PTIR returned -54.43% vs -88.50% for CONL. Their 0.52 correlation means they have sometimes moved together and sometimes differently. PTIR charges 1.04%/yr vs 1.15%/yr for CONL.

Performance

PTIR vs. CONL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long PLTR Daily ETF (PTIR) 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, PTIR achieves a -60.42% return, which is significantly higher than CONL's -72.70% return.

PTIR

• 1D: 4.65%
• 1M: -7.52%
• 6M: -41.51%
• YTD: -60.42%
• 1Y: -54.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 170.19%

CONL

• 1D: 0.00%
• 1M: -25.93%
• 6M: -58.97%
• YTD: -72.70%
• 1Y: -88.50%
• 3Y*: -32.95%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CONL GraniteShares 2x Long COIN Daily ETF	$95.60M	$89.29M	$124.67M
PTIR GraniteShares 2x Long PLTR Daily ETF	$39.00M	$49.18M	$63.74M

PTIR vs. CONL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PTIR GraniteShares 2x Long PLTR Daily ETF	-60.42%	221.36%	425.36%
CONL GraniteShares 2x Long COIN Daily ETF	-72.70%	-58.49%	51.20%

Correlation

The correlation between PTIR and CONL is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.52
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024	0.52

The correlation between PTIR and CONL has been stable across timeframes, ranging from 0.52 to 0.52 - a consistent structural relationship.

PTIR vs. CONL - Sectors Allocation Comparison

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

Return for Risk

PTIR vs. CONL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PTIR

PTIR Risk / Return Rank: 5
PTIR Sharpe Ratio Rank: 5
PTIR Sortino Ratio Rank: 7
PTIR Omega Ratio Rank: 7
PTIR Calmar Ratio Rank: 4
PTIR Martin Ratio Rank: 4

CONL

CONL Risk / Return Rank: 2
CONL Sharpe Ratio Rank: 4
CONL Sortino Ratio Rank: 2
CONL Omega Ratio Rank: 3
CONL Calmar Ratio Rank: 1
CONL Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PTIR vs. CONL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long PLTR Daily ETF (PTIR) 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.

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.

	PTIR	CONL	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	-0.66	+0.14
Sortino ratio: Return per unit of downside risk	-0.30	-1.35	+1.05
Omega ratio: Gain probability vs. loss probability	0.96	0.85	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.69	-0.97	+0.28
Martin ratio: Return relative to average drawdown	-1.12	-1.30	+0.18

PTIR vs. CONL - Sharpe Ratio Comparison

The current PTIR Sharpe Ratio is -0.52, which is comparable to the CONL Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of PTIR 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.

Drawdowns

PTIR vs. CONL - Drawdown Comparison

The maximum PTIR drawdown since its inception was -79.40%, smaller than the maximum CONL drawdown of -95.30%. Use the drawdown chart below to compare losses from any high point for PTIR and CONL.

Drawdown Indicators

	PTIR	CONL	Difference
Max Drawdown Largest peak-to-trough decline	-79.40%	-95.30%	+15.90%
Max Drawdown (1Y) Largest decline over 1 year	-79.40%	-91.79%	+12.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-95.30%	—
Current Drawdown Current decline from peak	-72.72%	-95.30%	+22.58%
Average Drawdown Average peak-to-trough decline	-31.14%	-57.51%	+26.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.78%	68.01%	-19.23%

Volatility

PTIR vs. CONL - Volatility Comparison

The current volatility for GraniteShares 2x Long PLTR Daily ETF (PTIR) is 27.20%, while GraniteShares 2x Long COIN Daily ETF (CONL) has a volatility of 39.80%. This indicates that PTIR 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

	PTIR	CONL	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.20%	39.80%	-12.60%
Volatility (6M) Calculated over the trailing 6-month period	81.38%	108.86%	-27.48%
Volatility (1Y) Calculated over the trailing 1-year period	104.63%	134.57%	-29.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	127.56%	149.34%	-21.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	127.56%	149.34%	-21.78%

PTIR vs. CONL - Expense Ratio Comparison

PTIR has a 1.04% expense ratio, which is lower than CONL's 1.15% expense ratio.

Dividends

PTIR vs. CONL - Dividend Comparison

PTIR's dividend yield for the trailing twelve months is around 14.68%, while CONL has not paid dividends to shareholders.

Position	TTM	2025	2024
CONL GraniteShares 2x Long COIN Daily ETF	0.00%	0.00%	0.31%
PTIR GraniteShares 2x Long PLTR Daily ETF	14.68%	5.81%	0.00%

Frequently Asked Questions

Can I hold both PTIR and CONL in my portfolio?

PTIR and CONL have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTIR or CONL?

CONL has higher volatility (39.80%) compared to PTIR (27.20%). In terms of maximum drawdown, PTIR dropped -79.40% vs CONL's -95.30%.

Which ETF is better, PTIR or CONL?

On 1-year performance, PTIR leads with -54.43% vs -88.50% for CONL. On fees, PTIR is cheaper at 1.04% per year. On volatility, PTIR has been the lower-risk option at 27.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTIR or CONL?

Over the 1-year period, PTIR has performed better with a -54.43% return vs -88.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTIR or CONL?

PTIR is cheaper with a 1.04% expense ratio, compared with 1.15% for CONL.

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

PTIR has the higher dividend yield at 14.68%, compared with 0.00% for CONL.

What is the main difference between PTIR and CONL?

Their fees differ too: 1.04% for PTIR and 1.15% for CONL.

Which has better risk-adjusted returns?

PTIR currently has the higher Sharpe Ratio (-0.52 vs -0.66), 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.