EMET vs. SMST

Last updated Jul 14, 2026

EMET (VanEck Copper and Green Metals ETF) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both exchange-traded funds - EMET is a Copper fund tracking the MVIS Global Clean-Tech Metals Index, while SMST is a Inverse Equities fund actively managed by Defiance. EMET is passively managed, while SMST is actively managed. Over the past year, EMET returned 55.26% vs 240.03% for SMST. At a correlation of -0.31, they often move in opposite directions. EMET charges 0.61%/yr vs 1.29%/yr for SMST.

Performance

EMET vs. SMST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Copper and Green Metals ETF (EMET) 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, EMET achieves a 1.92% return, which is significantly higher than SMST's -27.96% return.

EMET

• 1D: -2.88%
• 1M: -14.80%
• 6M: -9.75%
• YTD: 1.92%
• 1Y: 55.26%
• 3Y*: 11.97%
• 5Y*: —
• 10Y*: —

SMST

• 1D: 5.26%
• 1M: 44.38%
• 6M: -15.07%
• YTD: -27.96%
• 1Y: 240.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMET vs. SMST - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMET VanEck Copper and Green Metals ETF	1.92%	81.22%	-7.95%
SMST Defiance Daily Target 2X Short MSTR ETF	-27.96%	-44.36%	-91.71%

Correlation

The correlation between EMET and SMST is -0.27, 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	-0.27
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	-0.31

Return for Risk

EMET vs. SMST — Risk / Return Rank

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

EMET

EMET Risk / Return Rank: 50
EMET Sharpe Ratio Rank: 53
EMET Sortino Ratio Rank: 47
EMET Omega Ratio Rank: 49
EMET Calmar Ratio Rank: 54
EMET Martin Ratio Rank: 46

SMST

SMST Risk / Return Rank: 60
SMST Sharpe Ratio Rank: 62
SMST Sortino Ratio Rank: 63
SMST Omega Ratio Rank: 63
SMST Calmar Ratio Rank: 71
SMST Martin Ratio Rank: 43

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.

EMET vs. SMST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Copper and Green Metals ETF (EMET) 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.

	EMET	SMST	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.62	-0.18
Sortino ratio: Return per unit of downside risk	1.89	2.33	-0.44
Omega ratio: Gain probability vs. loss probability	1.25	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	2.17	2.83	-0.66
Martin ratio: Return relative to average drawdown	6.10	5.47	+0.63

EMET vs. SMST - Sharpe Ratio Comparison

The current EMET Sharpe Ratio is 1.44, which is comparable to the SMST Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of EMET 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

EMET vs. SMST - Drawdown Comparison

The maximum EMET drawdown since its inception was -53.05%, smaller than the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for EMET and SMST.

Drawdown Indicators

	EMET	SMST	Difference
Max Drawdown Largest peak-to-trough decline	-53.05%	-99.25%	+46.20%
Max Drawdown (1Y) Largest decline over 1 year	-25.58%	-85.39%	+59.81%
Max Drawdown (3Y) Largest decline over 3 years	-40.50%	—	—
Current Drawdown Current decline from peak	-22.75%	-97.17%	+74.42%
Average Drawdown Average peak-to-trough decline	-24.59%	-90.89%	+66.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.08%	44.09%	-35.01%

Volatility

EMET vs. SMST - Volatility Comparison

The current volatility for VanEck Copper and Green Metals ETF (EMET) is 13.15%, while Defiance Daily Target 2X Short MSTR ETF (SMST) has a volatility of 56.59%. This indicates that EMET 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

	EMET	SMST	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.15%	56.59%	-43.44%
Volatility (6M) Calculated over the trailing 6-month period	33.61%	135.88%	-102.27%
Volatility (1Y) Calculated over the trailing 1-year period	38.58%	149.23%	-110.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.40%	167.74%	-134.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.40%	167.74%	-134.34%

EMET vs. SMST - Expense Ratio Comparison

EMET has a 0.61% expense ratio, which is lower than SMST's 1.29% expense ratio.

Dividends

EMET vs. SMST - Dividend Comparison

EMET's dividend yield for the trailing twelve months is around 1.81%, while SMST has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
EMET VanEck Copper and Green Metals ETF	1.81%	1.84%	1.89%	2.02%	2.56%
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 EMET and SMST in my portfolio?

EMET and SMST have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMET or SMST?

SMST has higher volatility (56.59%) compared to EMET (13.15%). In terms of maximum drawdown, EMET dropped -53.05% vs SMST's -99.25%.

Which ETF is better, EMET or SMST?

On 1-year performance, SMST leads with 240.03% vs 55.26% for EMET. On fees, EMET is cheaper at 0.61% per year. On volatility, EMET has been the lower-risk option at 13.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMET or SMST?

Over the 1-year period, SMST has performed better with a 240.03% return vs 55.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMET or SMST?

EMET is cheaper with a 0.61% expense ratio, compared with 1.29% for SMST.

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

EMET has the higher dividend yield at 1.81%, compared with 0.00% for SMST.

What is the main difference between EMET and SMST?

EMET is categorized as Copper, while SMST is Inverse Equities. They also come from different issuers: VanEck and Defiance. Their fees differ too: 0.61% for EMET and 1.29% for SMST.

Which has better risk-adjusted returns?

SMST currently has the higher Sharpe Ratio (1.62 vs 1.44), 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.