DAMD vs. SMST
DAMD (Defiance Daily Target 2X Short AMD ETF) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both Inverse Equities funds from Defiance. DAMD is passively managed, while SMST is actively managed. At a 0.39 correlation, their price movements are largely independent. DAMD charges 1.31%/yr vs 1.29%/yr for SMST.
Performance
DAMD vs. SMST - Performance Comparison
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Returns By Period
In the year-to-date period, DAMD achieves a -93.00% return, which is significantly lower than SMST's -5.14% return.
DAMD
- 1D
- -4.95%
- 1M
- -22.42%
- YTD
- -93.00%
- 6M
- -92.95%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMST
- 1D
- 18.45%
- 1M
- 181.70%
- YTD
- -5.14%
- 6M
- 2.86%
- 1Y
- 236.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DAMD vs. SMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DAMD Defiance Daily Target 2X Short AMD ETF | -93.00% | 13.18% |
SMST Defiance Daily Target 2X Short MSTR ETF | -5.14% | 59.67% |
Correlation
The correlation between DAMD and SMST is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025 | 0.39 |
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Return for Risk
DAMD vs. SMST — Risk / Return Rank
DAMD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SMST
DAMD vs. SMST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short AMD ETF (DAMD) 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.
| DAMD | SMST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.79 | — |
| Martin ratioReturn relative to average drawdown | — | 5.52 | — |
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Drawdowns
DAMD vs. SMST - Drawdown Comparison
The maximum DAMD drawdown since its inception was -94.44%, roughly equal to the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for DAMD and SMST.
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Drawdown Indicators
| DAMD | SMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.44% | -99.25% | +4.81% |
Max Drawdown (1Y)Largest decline over 1 year | — | -85.39% | — |
Current DrawdownCurrent decline from peak | -94.10% | -96.27% | +2.17% |
Average DrawdownAverage peak-to-trough decline | -43.99% | -90.74% | +46.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 43.15% | — |
Volatility
DAMD vs. SMST - Volatility Comparison
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Volatility by Period
| DAMD | SMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 46.13% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 130.40% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 139.09% | 146.32% | -7.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 139.09% | 167.25% | -28.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 139.09% | 167.25% | -28.16% |
DAMD vs. SMST - Expense Ratio Comparison
DAMD has a 1.31% expense ratio, which is higher than SMST's 1.29% expense ratio.
Dividends
DAMD vs. SMST - Dividend Comparison
Neither DAMD nor SMST has paid dividends to shareholders.
Frequently Asked Questions
DAMD and SMST have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMST is cheaper at 1.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMST is cheaper with a 1.29% expense ratio, compared with 1.31% for DAMD.
DAMD and SMST have nearly identical dividend yields, around 0.00%.
Their fees differ too: 1.31% for DAMD and 1.29% for SMST.
Find the right allocation for DAMD and SMST
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