BUFC vs. SMST

Last updated Aug 2, 2026

BUFC (AB Conservative Buffer ETF) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both exchange-traded funds - BUFC is a Options Trading fund actively managed by AllianceBernstein, while SMST is a Inverse Equities fund actively managed by Defiance. Both are actively managed. Over the past year, BUFC returned 7.71% vs 128.37% for SMST. Their -0.39 correlation means they have often moved in opposite directions in the past. BUFC charges 0.69%/yr vs 1.29%/yr for SMST.

Performance

BUFC vs. SMST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Conservative Buffer ETF (BUFC) and Defiance Daily Target 2X Short MSTR ETF (SMST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFC achieves a 3.40% return, which is significantly higher than SMST's -35.77% return.

BUFC

• 1D: 0.26%
• 1M: 0.47%
• 6M: 2.74%
• YTD: 3.40%
• 1Y: 7.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.74%

SMST

• 1D: 8.37%
• 1M: 5.47%
• 6M: -29.35%
• YTD: -35.77%
• 1Y: 128.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -83.68%

*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)
BUFC AB Conservative Buffer ETF	$1.47M	$1.25M	$1.78M
SMST Defiance Daily Target 2X Short MSTR ETF	$15.35M	$15.12M	$17.58M

BUFC vs. SMST - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BUFC AB Conservative Buffer ETF	3.40%	5.50%	2.86%
SMST Defiance Daily Target 2X Short MSTR ETF	-35.77%	-44.36%	-91.71%

Correlation

The correlation between BUFC and SMST is -0.40, 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.	-0.40
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	-0.39

Return for Risk

BUFC vs. SMST — Risk / Return Rank

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

BUFC

BUFC Risk / Return Rank: 68
BUFC Sharpe Ratio Rank: 71
BUFC Sortino Ratio Rank: 70
BUFC Omega Ratio Rank: 74
BUFC Calmar Ratio Rank: 56
BUFC Martin Ratio Rank: 69

SMST

SMST Risk / Return Rank: 52
SMST Sharpe Ratio Rank: 45
SMST Sortino Ratio Rank: 62
SMST Omega Ratio Rank: 61
SMST Calmar Ratio Rank: 56
SMST Martin Ratio Rank: 36

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.

BUFC vs. SMST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Conservative Buffer ETF (BUFC) 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.

	BUFC	SMST	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.13	+0.50
Sortino ratio: Return per unit of downside risk	2.28	2.09	+0.19
Omega ratio: Gain probability vs. loss probability	1.31	1.27	+0.04
Calmar ratio: Return relative to maximum drawdown	2.00	2.00	0.00
Martin ratio: Return relative to average drawdown	8.37	3.68	+4.70

BUFC vs. SMST - Sharpe Ratio Comparison

The current BUFC Sharpe Ratio is 1.63, which is higher than the SMST Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of BUFC and SMST, 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

BUFC vs. SMST - Drawdown Comparison

The maximum BUFC drawdown since its inception was -8.29%, smaller than the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for BUFC and SMST.

Drawdown Indicators

	BUFC	SMST	Difference
Max Drawdown Largest peak-to-trough decline	-8.29%	-99.25%	+90.96%
Max Drawdown (1Y) Largest decline over 1 year	-3.62%	-85.39%	+81.77%
Current Drawdown Current decline from peak	-0.13%	-97.48%	+97.35%
Average Drawdown Average peak-to-trough decline	-0.73%	-91.08%	+90.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	46.35%	-45.49%

Volatility

BUFC vs. SMST - Volatility Comparison

The current volatility for AB Conservative Buffer ETF (BUFC) is 1.15%, while Defiance Daily Target 2X Short MSTR ETF (SMST) has a volatility of 38.14%. This indicates that BUFC 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.

Volatility by Period

	BUFC	SMST	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	38.14%	-36.99%
Volatility (6M) Calculated over the trailing 6-month period	3.56%	135.29%	-131.73%
Volatility (1Y) Calculated over the trailing 1-year period	4.45%	151.04%	-146.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.58%	166.75%	-161.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.58%	166.75%	-161.17%

BUFC vs. SMST - Expense Ratio Comparison

BUFC has a 0.69% expense ratio, which is lower than SMST's 1.29% expense ratio.

Dividends

BUFC vs. SMST - Dividend Comparison

Neither BUFC nor SMST has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BUFC and SMST in my portfolio?

BUFC and SMST have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFC or SMST?

SMST has higher volatility (38.14%) compared to BUFC (1.15%). In terms of maximum drawdown, BUFC dropped -8.29% vs SMST's -99.25%.

Which ETF is better, BUFC or SMST?

On 1-year performance, SMST leads with 128.37% vs 7.71% for BUFC. On fees, BUFC is cheaper at 0.69% per year. On volatility, BUFC has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFC or SMST?

Over the 1-year period, SMST has performed better with a 128.37% return vs 7.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFC or SMST?

BUFC is cheaper with a 0.69% expense ratio, compared with 1.29% for SMST.

Which ETF pays a higher dividend yield, BUFC or SMST?

BUFC and SMST have nearly identical dividend yields, around 0.00%.

What is the main difference between BUFC and SMST?

BUFC is categorized as Options Trading, while SMST is Inverse Equities. They also come from different issuers: AllianceBernstein and Defiance. Their fees differ too: 0.69% for BUFC and 1.29% for SMST.

Which has better risk-adjusted returns?

BUFC currently has the higher Sharpe Ratio (1.63 vs 1.13), 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.