DJIA vs. SMST

Last updated Jul 15, 2026

DJIA (Global X Dow 30 Covered Call ETF) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both exchange-traded funds - DJIA is a Derivative Income fund tracking the DJIA Cboe BuyWrite v2 Index, while SMST is a Inverse Equities fund actively managed by Defiance. DJIA is passively managed, while SMST is actively managed. Over the past year, DJIA returned 14.63% vs 223.39% for SMST. At a correlation of -0.31, they often move in opposite directions. DJIA charges 0.60%/yr vs 1.29%/yr for SMST.

Performance

DJIA vs. SMST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Dow 30 Covered Call ETF (DJIA) 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, DJIA achieves a 5.77% return, which is significantly higher than SMST's -36.68% return.

DJIA

• 1D: 0.36%
• 1M: 1.91%
• 6M: 4.11%
• YTD: 5.77%
• 1Y: 14.63%
• 3Y*: 10.43%
• 5Y*: —
• 10Y*: —

SMST

• 1D: -12.10%
• 1M: 26.91%
• 6M: -13.52%
• YTD: -36.68%
• 1Y: 223.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DJIA vs. SMST - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DJIA Global X Dow 30 Covered Call ETF	5.77%	9.11%	6.77%
SMST Defiance Daily Target 2X Short MSTR ETF	-36.68%	-44.36%	-91.71%

Correlation

The correlation between DJIA and SMST is -0.33, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.33
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	-0.31

Return for Risk

DJIA vs. SMST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DJIA

DJIA Risk / Return Rank: 70
DJIA Sharpe Ratio Rank: 79
DJIA Sortino Ratio Rank: 81
DJIA Omega Ratio Rank: 86
DJIA Calmar Ratio Rank: 50
DJIA Martin Ratio Rank: 55

SMST

SMST Risk / Return Rank: 56
SMST Sharpe Ratio Rank: 55
SMST Sortino Ratio Rank: 60
SMST Omega Ratio Rank: 61
SMST Calmar Ratio Rank: 66
SMST Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DJIA vs. SMST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Dow 30 Covered Call ETF (DJIA) 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.

	DJIA	SMST	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.51	+0.48
Sortino ratio: Return per unit of downside risk	2.86	2.28	+0.58
Omega ratio: Gain probability vs. loss probability	1.41	1.30	+0.12
Calmar ratio: Return relative to maximum drawdown	2.00	2.63	-0.63
Martin ratio: Return relative to average drawdown	7.45	5.07	+2.38

DJIA vs. SMST - Sharpe Ratio Comparison

The current DJIA Sharpe Ratio is 1.98, which is higher than the SMST Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of DJIA 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

DJIA vs. SMST - Drawdown Comparison

The maximum DJIA drawdown since its inception was -16.91%, smaller than the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for DJIA and SMST.

Drawdown Indicators

	DJIA	SMST	Difference
Max Drawdown Largest peak-to-trough decline	-16.91%	-99.25%	+82.34%
Max Drawdown (1Y) Largest decline over 1 year	-7.34%	-85.39%	+78.05%
Max Drawdown (3Y) Largest decline over 3 years	-12.09%	—	—
Current Drawdown Current decline from peak	0.00%	-97.51%	+97.51%
Average Drawdown Average peak-to-trough decline	-3.50%	-90.91%	+87.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	44.25%	-42.28%

Volatility

DJIA vs. SMST - Volatility Comparison

The current volatility for Global X Dow 30 Covered Call ETF (DJIA) is 1.31%, while Defiance Daily Target 2X Short MSTR ETF (SMST) has a volatility of 57.45%. This indicates that DJIA 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

	DJIA	SMST	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	57.45%	-56.14%
Volatility (6M) Calculated over the trailing 6-month period	6.33%	136.03%	-129.70%
Volatility (1Y) Calculated over the trailing 1-year period	7.41%	149.51%	-142.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.11%	167.79%	-156.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.11%	167.79%	-156.68%

DJIA vs. SMST - Expense Ratio Comparison

DJIA has a 0.60% expense ratio, which is lower than SMST's 1.29% expense ratio.

Dividends

DJIA vs. SMST - Dividend Comparison

DJIA's dividend yield for the trailing twelve months is around 10.56%, while SMST has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
DJIA Global X Dow 30 Covered Call ETF	10.56%	10.60%	11.44%	7.16%	9.18%
SMST Defiance Daily Target 2X Short MSTR ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DJIA and SMST in my portfolio?

DJIA and SMST have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DJIA or SMST?

SMST has higher volatility (57.45%) compared to DJIA (1.31%). In terms of maximum drawdown, DJIA dropped -16.91% vs SMST's -99.25%.

Which ETF is better, DJIA or SMST?

On 1-year performance, SMST leads with 223.39% vs 14.63% for DJIA. On fees, DJIA is cheaper at 0.60% per year. On volatility, DJIA has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DJIA or SMST?

Over the 1-year period, SMST has performed better with a 223.39% return vs 14.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DJIA or SMST?

DJIA is cheaper with a 0.60% expense ratio, compared with 1.29% for SMST.

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

DJIA has the higher dividend yield at 10.56%, compared with 0.00% for SMST.

What is the main difference between DJIA and SMST?

DJIA is categorized as Derivative Income, while SMST is Inverse Equities. They also come from different issuers: Global X and Defiance. Their fees differ too: 0.60% for DJIA and 1.29% for SMST.

Which has better risk-adjusted returns?

DJIA currently has the higher Sharpe Ratio (1.98 vs 1.51), 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.