IBIE vs. SMCX

Last updated Jul 17, 2026

IBIE (iShares iBonds Oct 2028 Term TIPS ETF) and SMCX (Defiance Daily Target 2X Long SMCI ETF) are both exchange-traded funds - IBIE is a Inflation-Protected Bonds fund tracking the ICE 2028 Maturity US Inflation-Linked Treasury Index, while SMCX is a Leveraged Equities fund actively managed by Defiance. IBIE is passively managed, while SMCX is actively managed. Over the past year, IBIE returned 3.32% vs -94.40% for SMCX. At a correlation of -0.02, they often move in opposite directions. IBIE charges 0.10%/yr vs 1.29%/yr for SMCX.

Performance

IBIE vs. SMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2028 Term TIPS ETF (IBIE) and Defiance Daily Target 2X Long SMCI ETF (SMCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBIE achieves a 1.80% return, which is significantly higher than SMCX's -73.25% return.

IBIE

• 1D: 0.06%
• 1M: -0.03%
• 6M: 1.75%
• YTD: 1.80%
• 1Y: 3.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMCX

• 1D: -16.67%
• 1M: -35.24%
• 6M: -72.98%
• YTD: -73.25%
• 1Y: -94.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBIE vs. SMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBIE iShares iBonds Oct 2028 Term TIPS ETF	1.80%	6.46%	0.46%
SMCX Defiance Daily Target 2X Long SMCI ETF	-73.25%	-69.78%	-90.42%

Correlation

The correlation between IBIE and SMCX is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024	-0.02

Return for Risk

IBIE vs. SMCX — Risk / Return Rank

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

IBIE

IBIE Risk / Return Rank: 88
IBIE Sharpe Ratio Rank: 82
IBIE Sortino Ratio Rank: 91
IBIE Omega Ratio Rank: 89
IBIE Calmar Ratio Rank: 92
IBIE Martin Ratio Rank: 87

SMCX

SMCX Risk / Return Rank: 3
SMCX Sharpe Ratio Rank: 5
SMCX Sortino Ratio Rank: 4
SMCX Omega Ratio Rank: 4
SMCX Calmar Ratio Rank: 0
SMCX Martin Ratio Rank: 3

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.

IBIE vs. SMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2028 Term TIPS ETF (IBIE) and Defiance Daily Target 2X Long SMCI ETF (SMCX). 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.

	IBIE	SMCX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	-0.55	+2.67
Sortino ratio: Return per unit of downside risk	3.53	-0.85	+4.38
Omega ratio: Gain probability vs. loss probability	1.45	0.89	+0.56
Calmar ratio: Return relative to maximum drawdown	4.65	-0.99	+5.64
Martin ratio: Return relative to average drawdown	14.43	-1.26	+15.70

IBIE vs. SMCX - Sharpe Ratio Comparison

The current IBIE Sharpe Ratio is 2.12, which is higher than the SMCX Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of IBIE and SMCX, 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

IBIE vs. SMCX - Drawdown Comparison

The maximum IBIE drawdown since its inception was -1.70%, smaller than the maximum SMCX drawdown of -99.23%. Use the drawdown chart below to compare losses from any high point for IBIE and SMCX.

Drawdown Indicators

	IBIE	SMCX	Difference
Max Drawdown Largest peak-to-trough decline	-1.70%	-99.23%	+97.53%
Max Drawdown (1Y) Largest decline over 1 year	-0.72%	-95.58%	+94.86%
Current Drawdown Current decline from peak	-0.29%	-99.23%	+98.94%
Average Drawdown Average peak-to-trough decline	-0.39%	-88.48%	+88.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	74.56%	-74.33%

Volatility

IBIE vs. SMCX - Volatility Comparison

The current volatility for iShares iBonds Oct 2028 Term TIPS ETF (IBIE) is 0.55%, while Defiance Daily Target 2X Long SMCI ETF (SMCX) has a volatility of 52.15%. This indicates that IBIE experiences smaller price fluctuations and is considered to be less risky than SMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBIE	SMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.55%	52.15%	-51.60%
Volatility (6M) Calculated over the trailing 6-month period	1.09%	179.65%	-178.56%
Volatility (1Y) Calculated over the trailing 1-year period	1.59%	173.00%	-171.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.82%	203.27%	-200.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.82%	203.27%	-200.45%

IBIE vs. SMCX - Expense Ratio Comparison

IBIE has a 0.10% expense ratio, which is lower than SMCX's 1.29% expense ratio.

Dividends

IBIE vs. SMCX - Dividend Comparison

IBIE's dividend yield for the trailing twelve months is around 4.96%, less than SMCX's 16.39% yield.

Position	TTM	2025	2024	2023
IBIE iShares iBonds Oct 2028 Term TIPS ETF	4.96%	4.09%	4.23%	0.75%
SMCX Defiance Daily Target 2X Long SMCI ETF	16.39%	4.39%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBIE and SMCX in my portfolio?

IBIE and SMCX have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBIE or SMCX?

SMCX has higher volatility (52.15%) compared to IBIE (0.55%). In terms of maximum drawdown, IBIE dropped -1.70% vs SMCX's -99.23%.

Which ETF is better, IBIE or SMCX?

On 1-year performance, IBIE leads with 3.32% vs -94.40% for SMCX. On fees, IBIE is cheaper at 0.10% per year. On volatility, IBIE has been the lower-risk option at 0.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBIE or SMCX?

Over the 1-year period, IBIE has performed better with a 3.32% return vs -94.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBIE or SMCX?

IBIE is cheaper with a 0.10% expense ratio, compared with 1.29% for SMCX.

Which ETF pays a higher dividend yield, IBIE or SMCX?

SMCX has the higher dividend yield at 16.39%, compared with 4.96% for IBIE.

What is the main difference between IBIE and SMCX?

IBIE is categorized as Inflation-Protected Bonds, while SMCX is Leveraged Equities. They also come from different issuers: iShares and Defiance. Their fees differ too: 0.10% for IBIE and 1.29% for SMCX.

Which has better risk-adjusted returns?

IBIE currently has the higher Sharpe Ratio (2.12 vs -0.55), 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.