ILIT vs. SMST

Last updated Jul 14, 2026

ILIT (Ishares Lithium Miners And Producers ETF) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both exchange-traded funds - ILIT is a Lithium & Battery Metals fund tracking the STOXX Global Lithium Miners and Producers Index - USD - Benchmark TR Net, while SMST is a Inverse Equities fund actively managed by Defiance. ILIT is passively managed, while SMST is actively managed. Over the past year, ILIT returned 75.05% vs 240.03% for SMST. At a correlation of -0.25, they often move in opposite directions. ILIT charges 0.47%/yr vs 1.29%/yr for SMST.

Performance

ILIT vs. SMST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ishares Lithium Miners And Producers ETF (ILIT) 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, ILIT achieves a -5.59% return, which is significantly higher than SMST's -27.96% return.

ILIT

• 1D: -3.92%
• 1M: -25.26%
• 6M: -19.17%
• YTD: -5.59%
• 1Y: 75.05%
• 3Y*: -14.39%
• 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)

ILIT vs. SMST - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ILIT Ishares Lithium Miners And Producers ETF	-5.59%	81.51%	-1.11%
SMST Defiance Daily Target 2X Short MSTR ETF	-27.96%	-44.36%	-91.71%

Correlation

The correlation between ILIT and SMST is -0.23, 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	-0.23
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	-0.25

Return for Risk

ILIT vs. SMST — Risk / Return Rank

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

ILIT

ILIT Risk / Return Rank: 51
ILIT Sharpe Ratio Rank: 54
ILIT Sortino Ratio Rank: 54
ILIT Omega Ratio Rank: 49
ILIT Calmar Ratio Rank: 50
ILIT Martin Ratio Rank: 48

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.

ILIT vs. SMST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ishares Lithium Miners And Producers ETF (ILIT) 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.

	ILIT	SMST	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.62	-0.14
Sortino ratio: Return per unit of downside risk	2.11	2.33	-0.22
Omega ratio: Gain probability vs. loss probability	1.25	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	1.99	2.83	-0.84
Martin ratio: Return relative to average drawdown	6.41	5.47	+0.94

ILIT vs. SMST - Sharpe Ratio Comparison

The current ILIT Sharpe Ratio is 1.48, which is comparable to the SMST Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of ILIT 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

ILIT vs. SMST - Drawdown Comparison

The maximum ILIT drawdown since its inception was -73.69%, smaller than the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for ILIT and SMST.

Drawdown Indicators

	ILIT	SMST	Difference
Max Drawdown Largest peak-to-trough decline	-73.69%	-99.25%	+25.56%
Max Drawdown (1Y) Largest decline over 1 year	-37.91%	-85.39%	+47.48%
Max Drawdown (3Y) Largest decline over 3 years	-73.27%	—	—
Current Drawdown Current decline from peak	-38.24%	-97.17%	+58.93%
Average Drawdown Average peak-to-trough decline	-45.14%	-90.89%	+45.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.74%	44.09%	-32.35%

Volatility

ILIT vs. SMST - Volatility Comparison

The current volatility for Ishares Lithium Miners And Producers ETF (ILIT) is 14.66%, while Defiance Daily Target 2X Short MSTR ETF (SMST) has a volatility of 56.59%. This indicates that ILIT 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

	ILIT	SMST	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.66%	56.59%	-41.93%
Volatility (6M) Calculated over the trailing 6-month period	35.14%	135.88%	-100.74%
Volatility (1Y) Calculated over the trailing 1-year period	50.96%	149.23%	-98.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.05%	167.74%	-125.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.05%	167.74%	-125.69%

ILIT vs. SMST - Expense Ratio Comparison

ILIT has a 0.47% expense ratio, which is lower than SMST's 1.29% expense ratio.

Dividends

ILIT vs. SMST - Dividend Comparison

ILIT's dividend yield for the trailing twelve months is around 2.18%, while SMST has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
ILIT Ishares Lithium Miners And Producers ETF	2.18%	2.27%	6.48%	0.69%
SMST Defiance Daily Target 2X Short MSTR ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ILIT and SMST in my portfolio?

ILIT and SMST have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILIT or SMST?

SMST has higher volatility (56.59%) compared to ILIT (14.66%). In terms of maximum drawdown, ILIT dropped -73.69% vs SMST's -99.25%.

Which ETF is better, ILIT or SMST?

On 1-year performance, SMST leads with 240.03% vs 75.05% for ILIT. On fees, ILIT is cheaper at 0.47% per year. On volatility, ILIT has been the lower-risk option at 14.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILIT or SMST?

Over the 1-year period, SMST has performed better with a 240.03% return vs 75.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILIT or SMST?

ILIT is cheaper with a 0.47% expense ratio, compared with 1.29% for SMST.

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

ILIT has the higher dividend yield at 2.18%, compared with 0.00% for SMST.

What is the main difference between ILIT and SMST?

ILIT is categorized as Lithium & Battery Metals, while SMST is Inverse Equities. They also come from different issuers: iShares and Defiance. Their fees differ too: 0.47% for ILIT and 1.29% for SMST.

Which has better risk-adjusted returns?

SMST currently has the higher Sharpe Ratio (1.62 vs 1.48), 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.