IMOM vs. SMST
IMOM (Alpha Architect International Quantitative Momentum ETF) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both exchange-traded funds - IMOM is a Momentum fund actively managed by Alpha Architect, while SMST is a Inverse Equities fund actively managed by Defiance. Both are actively managed. Over the past year, IMOM returned 24.42% vs 128.37% for SMST. Their -0.35 correlation means they have often moved in opposite directions in the past. IMOM charges 0.38%/yr vs 1.29%/yr for SMST.
Performance
IMOM vs. SMST - Performance Comparison
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Returns By Period
In the year-to-date period, IMOM achieves a 6.07% return, which is significantly higher than SMST's -35.77% return.
IMOM
- 1D
- 1.01%
- 1M
- -5.82%
- 6M
- -2.57%
- YTD
- 6.07%
- 1Y
- 24.42%
- 3Y*
- 19.43%
- 5Y*
- 5.76%
- 10Y*
- 6.46%
- ALL TIME*
- 6.86%
SMST
- 1D
- 8.37%
- 1M
- 5.47%
- 6M
- -29.35%
- YTD
- -35.77%
- 1Y
- 128.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -83.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $662.97K | $645.03K | $675.79K | |
| $15.35M | $15.12M | $17.58M |
IMOM vs. SMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IMOM Alpha Architect International Quantitative Momentum ETF | 6.07% | 47.20% | -1.50% |
SMST Defiance Daily Target 2X Short MSTR ETF | -35.77% | -44.36% | -91.71% |
Correlation
The correlation between IMOM and SMST is -0.42, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.42 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024 | -0.35 |
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Return for Risk
IMOM vs. SMST — Risk / Return Rank
IMOM
SMST
IMOM vs. SMST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alpha Architect International Quantitative Momentum ETF (IMOM) 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.
| IMOM | SMST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.27 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.00 | -0.50 |
| Martin ratioReturn relative to average drawdown | 4.93 | 3.68 | +1.26 |
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Drawdowns
IMOM vs. SMST - Drawdown Comparison
The maximum IMOM drawdown since its inception was -45.74%, smaller than the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for IMOM and SMST.
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Drawdown Indicators
| IMOM | SMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.74% | -99.25% | +53.51% |
Max Drawdown (1Y)Largest decline over 1 year | -16.75% | -85.39% | +68.64% |
Max Drawdown (3Y)Largest decline over 3 years | -17.51% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -39.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.74% | — | — |
Current DrawdownCurrent decline from peak | -12.35% | -97.48% | +85.13% |
Average DrawdownAverage peak-to-trough decline | -14.08% | -91.08% | +77.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.07% | 46.35% | -41.28% |
Volatility
IMOM vs. SMST - Volatility Comparison
The current volatility for Alpha Architect International Quantitative Momentum ETF (IMOM) is 8.90%, while Defiance Daily Target 2X Short MSTR ETF (SMST) has a volatility of 38.14%. This indicates that IMOM 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.
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Volatility by Period
| IMOM | SMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.90% | 38.14% | -29.24% |
Volatility (6M)Calculated over the trailing 6-month period | 19.66% | 135.29% | -115.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.00% | 151.04% | -129.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.31% | 166.75% | -146.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.32% | 166.75% | -146.43% |
IMOM vs. SMST - Expense Ratio Comparison
IMOM has a 0.38% expense ratio, which is lower than SMST's 1.29% expense ratio.
Dividends
IMOM vs. SMST - Dividend Comparison
IMOM's dividend yield for the trailing twelve months is around 2.38%, while SMST has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IMOM Alpha Architect International Quantitative Momentum ETF | 2.38% | 2.53% | 4.52% | 2.95% | 6.06% | 1.27% | 0.59% | 1.17% | 0.78% | 1.11% | 0.54% |
SMST Defiance Daily Target 2X Short MSTR ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IMOM and SMST have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMST has higher volatility (38.14%) compared to IMOM (8.90%). In terms of maximum drawdown, IMOM dropped -45.74% vs SMST's -99.25%.
On 1-year performance, SMST leads with 128.37% vs 24.42% for IMOM. On fees, IMOM is cheaper at 0.38% per year. On volatility, IMOM has been the lower-risk option at 8.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SMST has performed better with a 128.37% return vs 24.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMOM is cheaper with a 0.38% expense ratio, compared with 1.29% for SMST.
IMOM has the higher dividend yield at 2.38%, compared with 0.00% for SMST.
IMOM is categorized as Momentum, while SMST is Inverse Equities. They also come from different issuers: Alpha Architect and Defiance. Their fees differ too: 0.38% for IMOM and 1.29% for SMST.
IMOM currently has the higher Sharpe Ratio (1.14 vs 1.13), 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.
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