BBMC vs. SMST
BBMC (JPMorgan BetaBuilders U.S. Mid Cap Equity ETF) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both exchange-traded funds - BBMC is a Small Cap Growth Equities fund tracking the Morningstar US Mid Cap Target Market Exposure Extended Index, while SMST is a Inverse Equities fund actively managed by Defiance. BBMC is passively managed, while SMST is actively managed. Over the past year, BBMC returned 29.93% vs 121.46% for SMST. Their -0.47 correlation means they have often moved in opposite directions in the past. BBMC charges 0.07%/yr vs 1.29%/yr for SMST.
Performance
BBMC vs. SMST - Performance Comparison
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Returns By Period
In the year-to-date period, BBMC achieves a 18.36% return, which is significantly higher than SMST's -37.72% return.
BBMC
- 1D
- 1.29%
- 1M
- -0.65%
- 6M
- 12.42%
- YTD
- 18.36%
- 1Y
- 29.93%
- 3Y*
- 17.47%
- 5Y*
- 8.74%
- 10Y*
- —
- ALL TIME*
- 17.55%
SMST
- 1D
- -3.03%
- 1M
- 2.28%
- 6M
- -39.60%
- YTD
- -37.72%
- 1Y
- 121.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -83.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.30M | $1.45M | $2.55M | |
| $15.12M | $14.46M | $17.51M |
BBMC vs. SMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 18.36% | 12.24% | 7.57% |
SMST Defiance Daily Target 2X Short MSTR ETF | -37.72% | -44.36% | -91.71% |
Correlation
The correlation between BBMC and SMST is -0.47, 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. | -0.47 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024 | -0.47 |
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Return for Risk
BBMC vs. SMST — Risk / Return Rank
BBMC
SMST
BBMC vs. SMST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (BBMC) and Defiance Daily Target 2X Short MSTR ETF (SMST). 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.
| BBMC | SMST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.24 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 1.43 | +1.65 |
| Martin ratioReturn relative to average drawdown | 11.91 | 2.62 | +9.29 |
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Drawdowns
BBMC vs. SMST - Drawdown Comparison
The maximum BBMC drawdown since its inception was -30.11%, smaller than the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for BBMC and SMST.
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Drawdown Indicators
| BBMC | SMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.11% | -99.25% | +69.14% |
Max Drawdown (1Y)Largest decline over 1 year | -9.75% | -85.39% | +75.64% |
Max Drawdown (3Y)Largest decline over 3 years | -24.18% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.11% | — | — |
Current DrawdownCurrent decline from peak | -1.22% | -97.55% | +96.33% |
Average DrawdownAverage peak-to-trough decline | -8.73% | -91.09% | +82.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 46.51% | -43.99% |
Volatility
BBMC vs. SMST - Volatility Comparison
The current volatility for JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (BBMC) is 3.57%, while Defiance Daily Target 2X Short MSTR ETF (SMST) has a volatility of 34.07%. This indicates that BBMC experiences smaller price fluctuations and is considered to be less risky than SMST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBMC | SMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 34.07% | -30.50% |
Volatility (6M)Calculated over the trailing 6-month period | 12.62% | 134.96% | -122.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.77% | 150.32% | -133.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.60% | 166.60% | -146.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.95% | 166.60% | -145.65% |
BBMC vs. SMST - Expense Ratio Comparison
BBMC has a 0.07% expense ratio, which is lower than SMST's 1.29% expense ratio.
Dividends
BBMC vs. SMST - Dividend Comparison
BBMC's dividend yield for the trailing twelve months is around 1.12%, while SMST has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 1.12% | 1.25% | 1.31% | 1.36% | 1.48% | 0.87% | 0.69% |
SMST Defiance Daily Target 2X Short MSTR ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BBMC and SMST have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMST has higher volatility (34.07%) compared to BBMC (3.57%). In terms of maximum drawdown, BBMC dropped -30.11% vs SMST's -99.25%.
On 1-year performance, SMST leads with 121.46% vs 29.93% for BBMC. On fees, BBMC is cheaper at 0.07% per year. On volatility, BBMC has been the lower-risk option at 3.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SMST has performed better with a 121.46% return vs 29.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBMC is cheaper with a 0.07% expense ratio, compared with 1.29% for SMST.
BBMC has the higher dividend yield at 1.12%, compared with 0.00% for SMST.
BBMC is categorized as Small Cap Growth Equities, while SMST is Inverse Equities. They also come from different issuers: JPMorgan and Defiance. Their fees differ too: 0.07% for BBMC and 1.29% for SMST.
BBMC currently has the higher Sharpe Ratio (1.80 vs 0.81), 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.
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