- CUSIP
- 88636R123
- Issuer
- Defiance
- Inception Date
- Aug 21, 2024
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $266M
Share Price Chart
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Performance
SMCX Performance Chart
Defiance Daily Target 2X Long SMCI ETF (SMCX) is up 34.7% since the beginning of the year. SMCX is currently trading at $31 per share.
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Returns By Period
Defiance Daily Target 2X Long SMCI ETF (SMCX) has returned 34.65% so far this year and -60.96% over the past 12 months.
Defiance Daily Target 2X Long SMCI ETF
- 1D
- -10.89%
- 1M
- 157.98%
- YTD
- 34.65%
- 6M
- -1.99%
- 1Y
- -60.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
SMCX Monthly Returns History
Based on dividend-adjusted daily data since Aug 22, 2024, SMCX's average daily return is +0.15%, while the average monthly return is -1.02%.
Historically, 43% of months were positive and 57% were negative. The best month was May 2026 with a return of +154.7%, while the worst month was Mar 2026 at -65.3%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 6 months.
On a daily basis, SMCX closed higher 47% of trading days. The best single day was Nov 19, 2024 with a return of +62.2%, while the worst single day was Mar 20, 2026 at -66.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -5.35% | 14.18% | -65.34% | 34.78% | 154.65% | 4.74% | 34.65% | ||||||
| 2025 | -18.93% | 69.29% | -40.00% | -24.39% | 44.73% | 39.63% | 36.92% | -55.20% | 28.17% | 8.65% | -60.80% | -28.27% | -69.78% |
| 2024 | -51.62% | -14.82% | -64.82% | -7.31% | -22.38% | -89.57% |
Benchmark Metrics
Defiance Daily Target 2X Long SMCI ETF has an annualized alpha of -38.72%, beta of 4.67, and R2 of 0.15 versus S&P 500 Index. Calculated based on daily prices since August 23, 2024.
- This ETF participated in 453.71% of S&P 500 Index downside but only -54.34% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.15 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -38.72%
- Beta
- 4.67
- R²
- 0.15
- Upside Capture
- -54.34%
- Downside Capture
- 453.71%
Expense Ratio
SMCX has a high expense ratio of 1.29%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SMCX ranks 8 for risk / return — in the bottom 8% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Defiance Daily Target 2X Long SMCI ETF (SMCX) and compare them to S&P 500 Index.
| SMCX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.65 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.41 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 2.93 | -3.57 |
| Martin ratioReturn relative to average drawdown | -0.90 | 13.52 | -14.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Defiance Daily Target 2X Long SMCI ETF provided a 3.26% dividend yield over the last twelve months, with an annual payout of $1.00 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $1.00 | $1.00 |
Dividend yield | 3.26% | 4.39% |
Monthly Dividends
The table displays the monthly dividend distributions for Defiance Daily Target 2X Long SMCI ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $1.00 | $1.00 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Defiance Daily Target 2X Long SMCI ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Defiance Daily Target 2X Long SMCI ETF was 99.02%, occurring on Mar 20, 2026. The portfolio has not yet recovered.
The current Defiance Daily Target 2X Long SMCI ETF drawdown is 95.87%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -99.02%Mar 2026 | 1y 6mo | — | 1y 9moAug 2024 - now |
Drawdown Indicators
| SMCX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.02% | -56.78% | -42.24% |
Max Drawdown (1Y)Largest decline over 1 year | -94.75% | -9.10% | -85.65% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -95.87% | -0.74% | -95.13% |
Average DrawdownAverage peak-to-trough decline | -87.27% | -10.72% | -76.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.77% | 1.97% | +65.80% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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