CONL vs SPY
GraniteShares 2x Long COIN Daily ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CONL or SPY?
Trading-Leveraged Equity against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CONL | SPY |
|---|---|---|
| Expense Ratio | 1.04% | 0.09%Best |
| AUM | $574M | $814.4B |
| Dividend Yield | 0.00% | 1.01% |
| Holdings | 2 | 505 |
| YTD Return | -62.89% | +13.34%Best |
| 1Y Return | -81.38% | +19.97%Best |
| 3Y Return (annualized) | -18.17% | +21.20%Best |
| 5Y Return (annualized) | - | +12.81% |
| Volatility (annualized) | 160.2% | 14.2%Best |
| Max Drawdown | -95.4% | -18.8%Best |
| $10,000 over 4.1 years | $2,803 | $19,849Best |
| Fund Family | GraniteShares | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Leveraged Equity | Large Cap Blend |
| Inception | Aug 9, 2022 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.1 years row, are measured over the window both funds cover: Aug 9, 2022 to Sep 4, 2026 (4.1 years).
CONL vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.1 years both funds cover.
CONL vs SPY Performance
GraniteShares 2x Long COIN Daily ETF (CONL) is an ETF from GraniteShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CONL returned -81.38% while SPY returned +19.97%. Year to date, CONL is down 62.89% versus a gain of 13.34% for SPY.
Over three years, CONL compounded at -18.17% per year against +21.20% for SPY. Across the full 4-year window we track, SPY has the edge at +18.20% annualized vs -26.67%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CONL has been the more volatile fund, with annualized monthly volatility of 160.2% compared with 14.2% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -95.4% for CONL and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.54. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CONL charges 1.04% per year while SPY charges 0.09%. On a $10,000 position that is $104 vs $9 annually, a gap of $95 per year that compounds over a long holding period. On income, CONL currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
At least 0.1% of SPY's money is in holdings CONL also owns.
Stated as a floor: for CONL, our book for it covers 66.7% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 1 positions we hold weights for in CONL and 504 in SPY, against full books of 2 and 505.
Top Shared Holdings
| Stock | Weight in CONL | Weight in SPY | Difference |
|---|---|---|---|
| COINCoinbase Globa-A | 66.69% | 0.05% | 66.64% |
You are not choosing between two funds in isolation.
Whichever of CONL and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CONL or SPY?
CONL has an expense ratio of 1.04% while SPY charges 0.09%. SPY is the cheaper option, by $95 a year on a $10,000 investment.
Which performed better, CONL or SPY?
Over the past year CONL returned -81.38% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), CONL annualized -26.67% vs +18.20% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CONL or SPY?
CONL has been the more volatile fund at 160.2% annualized versus 14.2% for SPY. Worst drawdown: CONL -95.4% vs SPY -18.8%.
Should I hold both CONL and SPY?
CONL and SPY have a monthly-return correlation of 0.54, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CONL or SPY?
CONL yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than CONL?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.