Educational Report: Graniteshares 2x Long Coin Daily ETF (CONL)

The Graniteshares 2x Long Coin Daily ETF (CONL) is a leveraged, single-stock ETF that is crypto-related. It is designed to provide twice (2x) the daily return of its target asset.

What this ETF is trying to do

CONL is a leveraged ETF. This means it uses financial tools to try to multiply the daily movement of a specific asset. Because it is a "2x Long" fund, it aims to move in the same direction as its target, but with double the intensity. It is also a single-stock ETF, meaning its performance is tied to one specific company or asset rather than a broad basket of stocks.

What the numbers show

The recent price data for CONL shows a significant decline:

• Current Price: $5.81 (as of October 5, 2026).

• Estimated Price 12 Months Ago: Approximately $47.09.

• Year-to-Date (YTD) Price Return: -60.34%.

• One-Year Price Return: -87.66%.

• Three-Year Price Return: -42.53%.

Because this fund does not pay distributions, the price return and the total return are the same for the YTD and one-year periods. For the three-year period, the total return was -42.40%.

Income and Distribution Explanation

CONL is not designed to provide regular income. The data shows a distribution yield of 0%, and no distributions have been detected in the last 12 months. It has an income rating grade of "F." Investors should note that this fund does not provide cash payments to shareholders.

Price and NAV Erosion Explanation

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, the price-based evidence shows a severe trend. CONL has a severe erosion-risk flag and an erosion score of 10, which is labeled as "Severe price erosion." This means the fund's share price has dropped substantially over time.

Pros

• Amplified Gains: In a market where the target asset is rising daily, a 2x leveraged ETF can provide larger gains than a standard investment.

Cons

• High Risk of Loss: Leveraged ETFs can experience very fast and deep price declines.

• No Income: There are no distributions or dividends for investors.

• Severe Price Decline: The fund has lost a large portion of its value over the last year.

Beginner Takeaway

CONL is a high-risk tool used for short-term trading rather than long-term saving. It uses leverage to double daily movements, which can lead to extreme losses. The severe erosion-risk flag and the 87.66% one-year price decline show that the share price has fallen sharply. This fund provides no income and is subject to significant price volatility.