RSBY vs. CONL

Last updated Aug 2, 2026

RSBY (Return Stacked Bonds & Futures Yield ETF) and CONL (GraniteShares 2x Long COIN Daily ETF) are both exchange-traded funds - RSBY is a Multistrategy fund actively managed by Return Stacked, while CONL is a Leveraged Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, RSBY returned 12.59% vs -88.50% for CONL. Their -0.16 correlation means they have often moved in opposite directions in the past. RSBY charges 0.98%/yr vs 1.15%/yr for CONL.

Performance

RSBY vs. CONL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Return Stacked Bonds & Futures Yield ETF (RSBY) 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, RSBY achieves a 15.76% return, which is significantly higher than CONL's -72.70% return.

RSBY

• 1D: -0.66%
• 1M: -2.92%
• 6M: 12.75%
• YTD: 15.76%
• 1Y: 12.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.73%

CONL

• 1D: -21.10%
• 1M: -25.93%
• 6M: -61.90%
• YTD: -72.70%
• 1Y: -88.50%
• 3Y*: -35.39%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -35.80%

*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	$93.31M	$92.00M	$129.00M
RSBY Return Stacked Bonds & Futures Yield ETF	$290.19K	$414.45K	$303.00K

RSBY vs. CONL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RSBY Return Stacked Bonds & Futures Yield ETF	15.76%	-12.98%	-7.79%
CONL GraniteShares 2x Long COIN Daily ETF	-72.70%	-58.49%	8.55%

Correlation

The correlation between RSBY and CONL is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.17
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	-0.16

Return for Risk

RSBY vs. CONL — Risk / Return Rank

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

RSBY

RSBY Risk / Return Rank: 43
RSBY Sharpe Ratio Rank: 46
RSBY Sortino Ratio Rank: 47
RSBY Omega Ratio Rank: 42
RSBY Calmar Ratio Rank: 46
RSBY Martin Ratio Rank: 36

CONL

CONL Risk / Return Rank: 2
CONL Sharpe Ratio Rank: 4
CONL Sortino Ratio Rank: 1
CONL Omega Ratio Rank: 2
CONL Calmar Ratio Rank: 0
CONL Martin Ratio Rank: 1

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.

RSBY vs. CONL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Return Stacked Bonds & Futures Yield ETF (RSBY) 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.

	RSBY	CONL	Difference
Sharpe ratio: Return per unit of total volatility	1.15	-0.67	+1.82
Sortino ratio: Return per unit of downside risk	1.70	-1.61	+3.31
Omega ratio: Gain probability vs. loss probability	1.20	0.82	+0.38
Calmar ratio: Return relative to maximum drawdown	1.64	-1.01	+2.65
Martin ratio: Return relative to average drawdown	3.71	-1.36	+5.07

RSBY vs. CONL - Sharpe Ratio Comparison

The current RSBY Sharpe Ratio is 1.15, which is higher than the CONL Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of RSBY 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

RSBY vs. CONL - Drawdown Comparison

The maximum RSBY drawdown since its inception was -23.32%, smaller than the maximum CONL drawdown of -95.30%. Use the drawdown chart below to compare losses from any high point for RSBY and CONL.

Drawdown Indicators

	RSBY	CONL	Difference
Max Drawdown Largest peak-to-trough decline	-23.32%	-95.30%	+71.98%
Max Drawdown (1Y) Largest decline over 1 year	-7.95%	-91.79%	+83.84%
Max Drawdown (3Y) Largest decline over 3 years	—	-95.30%	—
Current Drawdown Current decline from peak	-8.64%	-95.30%	+86.66%
Average Drawdown Average peak-to-trough decline	-13.14%	-57.47%	+44.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	70.40%	-66.89%

Volatility

RSBY vs. CONL - Volatility Comparison

The current volatility for Return Stacked Bonds & Futures Yield ETF (RSBY) is 2.93%, while GraniteShares 2x Long COIN Daily ETF (CONL) has a volatility of 40.73%. This indicates that RSBY 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

	RSBY	CONL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	40.73%	-37.80%
Volatility (6M) Calculated over the trailing 6-month period	8.45%	108.93%	-100.48%
Volatility (1Y) Calculated over the trailing 1-year period	11.36%	138.25%	-126.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.25%	149.42%	-136.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.25%	149.42%	-136.17%

RSBY vs. CONL - Expense Ratio Comparison

RSBY has a 0.98% expense ratio, which is lower than CONL's 1.15% expense ratio.

Dividends

RSBY vs. CONL - Dividend Comparison

RSBY's dividend yield for the trailing twelve months is around 1.79%, 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%
RSBY Return Stacked Bonds & Futures Yield ETF	1.79%	2.07%	2.29%

Frequently Asked Questions

Can I hold both RSBY and CONL in my portfolio?

RSBY and CONL have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSBY or CONL?

CONL has higher volatility (40.73%) compared to RSBY (2.93%). In terms of maximum drawdown, RSBY dropped -23.32% vs CONL's -95.30%.

Which ETF is better, RSBY or CONL?

On 1-year performance, RSBY leads with 12.59% vs -88.50% for CONL. On fees, RSBY is cheaper at 0.98% per year. On volatility, RSBY has been the lower-risk option at 2.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSBY or CONL?

Over the 1-year period, RSBY has performed better with a 12.59% return vs -88.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSBY or CONL?

RSBY is cheaper with a 0.98% expense ratio, compared with 1.15% for CONL.

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

RSBY has the higher dividend yield at 1.79%, compared with 0.00% for CONL.

What is the main difference between RSBY and CONL?

RSBY is categorized as Multistrategy, while CONL is Leveraged Equities. They also come from different issuers: Return Stacked and GraniteShares. Their fees differ too: 0.98% for RSBY and 1.15% for CONL.

Which has better risk-adjusted returns?

RSBY currently has the higher Sharpe Ratio (1.15 vs -0.67), 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.