HOOZ vs. SMST
HOOZ (Defiance Daily Target 2X Short HOOD ETF) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both Inverse Equities funds from Defiance. HOOZ is passively managed, while SMST is actively managed. A 0.71 correlation means they provide meaningful diversification when combined. HOOZ charges 1.31%/yr vs 1.29%/yr for SMST.
Performance
HOOZ vs. SMST - Performance Comparison
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Returns By Period
In the year-to-date period, HOOZ achieves a -11.18% return, which is significantly higher than SMST's -45.29% return.
HOOZ
- 1D
- 13.13%
- 1M
- -22.74%
- YTD
- -11.18%
- 6M
- 15.12%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMST
- 1D
- 13.28%
- 1M
- 107.06%
- YTD
- -45.29%
- 6M
- -28.73%
- 1Y
- 71.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HOOZ vs. SMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HOOZ Defiance Daily Target 2X Short HOOD ETF | -11.18% | -2.76% |
SMST Defiance Daily Target 2X Short MSTR ETF | -45.29% | 59.67% |
Correlation
The correlation between HOOZ and SMST is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025 | 0.71 |
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Return for Risk
HOOZ vs. SMST — Risk / Return Rank
HOOZ
SMST
HOOZ vs. SMST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short HOOD ETF (HOOZ) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| HOOZ | SMST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.51 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.16 | -0.52 | +0.36 |
Drawdowns
HOOZ vs. SMST - Drawdown Comparison
The maximum HOOZ drawdown since its inception was -66.52%, smaller than the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for HOOZ and SMST.
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Drawdown Indicators
| HOOZ | SMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.52% | -99.25% | +32.73% |
Max Drawdown (1Y)Largest decline over 1 year | — | -85.39% | — |
Current DrawdownCurrent decline from peak | -58.26% | -97.85% | +39.59% |
Average DrawdownAverage peak-to-trough decline | -29.37% | -90.70% | +61.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 41.18% | — |
Volatility
HOOZ vs. SMST - Volatility Comparison
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Volatility by Period
| HOOZ | SMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 38.61% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 126.42% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 146.04% | 141.30% | +4.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 146.04% | 166.75% | -20.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 146.04% | 166.75% | -20.71% |
HOOZ vs. SMST - Expense Ratio Comparison
HOOZ has a 1.31% expense ratio, which is higher than SMST's 1.29% expense ratio.
Dividends
HOOZ vs. SMST - Dividend Comparison
Neither HOOZ nor SMST has paid dividends to shareholders.
Frequently Asked Questions
HOOZ and SMST have a correlation of 0.71, 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 HOOZ.
HOOZ and SMST have nearly identical dividend yields, around 0.00%.
Their fees differ too: 1.31% for HOOZ and 1.29% for SMST.
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