HIU.TO vs. SMST.L
HIU.TO (BetaPro S&P 500 Daily Inverse ETF) and SMST.L (Leverage Shares -3x Short MicroStrategy ETP) are both Inverse Equities funds. Over the past year, HIU.TO returned -19.55% vs 57.58% for SMST.L. At a 0.29 correlation, their price movements are largely independent. HIU.TO charges 1.75%/yr vs 0.75%/yr for SMST.L.
Performance
HIU.TO vs. SMST.L - Performance Comparison
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Different Trading Currencies
HIU.TO is traded in CAD, while SMST.L is traded in GBP. To make them comparable, the SMST.L values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HIU.TO achieves a -9.05% return, which is significantly higher than SMST.L's -67.37% return.
HIU.TO
- 1D
- 0.58%
- 1M
- -3.89%
- YTD
- -9.05%
- 6M
- -8.86%
- 1Y
- -19.55%
- 3Y*
- -14.75%
- 5Y*
- -10.25%
- 10Y*
- -13.80%
SMST.L
- 1D
- 5.22%
- 1M
- 147.78%
- YTD
- -67.37%
- 6M
- -49.57%
- 1Y
- 57.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HIU.TO vs. SMST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HIU.TO BetaPro S&P 500 Daily Inverse ETF | -9.05% | -13.79% | -1.30% |
SMST.L Leverage Shares -3x Short MicroStrategy ETP | -67.37% | 9,402.38% | -98.47% |
Correlation
The correlation between HIU.TO and SMST.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | 0.29 |
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Return for Risk
HIU.TO vs. SMST.L — Risk / Return Rank
HIU.TO
SMST.L
HIU.TO vs. SMST.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P 500 Daily Inverse ETF (HIU.TO) and Leverage Shares -3x Short MicroStrategy ETP (SMST.L). 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.
| HIU.TO | SMST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -4.21 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.24 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 0.61 | -1.56 |
| Martin ratioReturn relative to average drawdown | -1.71 | 1.20 | -2.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HIU.TO | SMST.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.62 | 0.28 | -1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.61 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.76 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.80 | -0.00 | -0.80 |
Drawdowns
HIU.TO vs. SMST.L - Drawdown Comparison
The maximum HIU.TO drawdown since its inception was -92.05%, smaller than the maximum SMST.L drawdown of -99.27%. Use the drawdown chart below to compare losses from any high point for HIU.TO and SMST.L.
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Drawdown Indicators
| HIU.TO | SMST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.05% | -99.27% | +7.22% |
Max Drawdown (1Y)Largest decline over 1 year | -20.61% | -93.21% | +72.60% |
Max Drawdown (3Y)Largest decline over 3 years | -42.15% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -47.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -78.55% | — | — |
Current DrawdownCurrent decline from peak | -92.00% | -91.69% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -66.36% | -80.28% | +13.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.40% | 48.04% | -36.64% |
Volatility
HIU.TO vs. SMST.L - Volatility Comparison
The current volatility for BetaPro S&P 500 Daily Inverse ETF (HIU.TO) is 2.98%, while Leverage Shares -3x Short MicroStrategy ETP (SMST.L) has a volatility of 55.76%. This indicates that HIU.TO experiences smaller price fluctuations and is considered to be less risky than SMST.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIU.TO | SMST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.98% | 55.76% | -52.78% |
Volatility (6M)Calculated over the trailing 6-month period | 9.05% | 176.80% | -167.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.10% | 202.95% | -190.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.94% | 19,130.76% | -19,113.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.15% | 19,130.76% | -19,112.61% |
HIU.TO vs. SMST.L - Expense Ratio Comparison
HIU.TO has a 1.75% expense ratio, which is higher than SMST.L's 0.75% expense ratio.
Dividends
HIU.TO vs. SMST.L - Dividend Comparison
Neither HIU.TO nor SMST.L has paid dividends to shareholders.
Frequently Asked Questions
HIU.TO and SMST.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMST.L is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMST.L is cheaper with a 0.75% expense ratio, compared with 1.75% for HIU.TO.
They also come from different issuers: Global X and Leverage Shares. Their fees differ too: 1.75% for HIU.TO and 0.75% for SMST.L.
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