IWMY vs. SMCZ

Last updated Aug 4, 2026

IWMY (Defiance R2000 Weekly Distribution ETF) and SMCZ (Defiance Daily Target 2X Short SMCI ETF) are both exchange-traded funds - IWMY is a Options Trading fund actively managed by Defiance, while SMCZ is a Inverse Equities fund actively managed by Defiance. Both are actively managed. Over the past year, IWMY returned 21.52% vs -73.11% for SMCZ. Their -0.49 correlation means they have often moved in opposite directions in the past. IWMY charges 1.05%/yr vs 1.29%/yr for SMCZ.

Performance

IWMY vs. SMCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance R2000 Weekly Distribution ETF (IWMY) and Defiance Daily Target 2X Short SMCI ETF (SMCZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWMY achieves a 15.27% return, which is significantly higher than SMCZ's -87.76% return.

IWMY

• 1D: 1.69%
• 1M: -0.31%
• 6M: 10.17%
• YTD: 15.27%
• 1Y: 21.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.16%

SMCZ

• 1D: -1.52%
• 1M: -31.27%
• 6M: -85.93%
• YTD: -87.76%
• 1Y: -73.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -89.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IWMY Defiance R2000 Weekly Distribution ETF	$647.71K	$735.48K	$1.03M
SMCZ Defiance Daily Target 2X Short SMCI ETF	$23.07M	$12.69M	$14.60M

IWMY vs. SMCZ - Yearly Performance Comparison

	2026 (YTD)	2025
IWMY Defiance R2000 Weekly Distribution ETF	15.27%	13.27%
SMCZ Defiance Daily Target 2X Short SMCI ETF	-87.76%	-62.31%

Correlation

The correlation between IWMY and SMCZ is -0.51, 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.	-0.51
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	-0.49

The correlation between IWMY and SMCZ has been stable across timeframes, ranging from -0.51 to -0.49 - a consistent structural relationship.

Return for Risk

IWMY vs. SMCZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IWMY

IWMY Risk / Return Rank: 51
IWMY Sharpe Ratio Rank: 53
IWMY Sortino Ratio Rank: 50
IWMY Omega Ratio Rank: 49
IWMY Calmar Ratio Rank: 51
IWMY Martin Ratio Rank: 51

SMCZ

SMCZ Risk / Return Rank: 7
SMCZ Sharpe Ratio Rank: 6
SMCZ Sortino Ratio Rank: 12
SMCZ Omega Ratio Rank: 12
SMCZ Calmar Ratio Rank: 3
SMCZ Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IWMY vs. SMCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance R2000 Weekly Distribution ETF (IWMY) and Defiance Daily Target 2X Short SMCI ETF (SMCZ). 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.

	IWMY	SMCZ	Difference
Sharpe ratio: Return per unit of total volatility	1.33	-0.41	+1.74
Sortino ratio: Return per unit of downside risk	1.85	0.24	+1.61
Omega ratio: Gain probability vs. loss probability	1.23	1.03	+0.20
Calmar ratio: Return relative to maximum drawdown	1.87	-0.80	+2.67
Martin ratio: Return relative to average drawdown	6.07	-1.47	+7.54

IWMY vs. SMCZ - Sharpe Ratio Comparison

The current IWMY Sharpe Ratio is 1.33, which is higher than the SMCZ Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of IWMY and SMCZ, 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

IWMY vs. SMCZ - Drawdown Comparison

The maximum IWMY drawdown since its inception was -18.72%, smaller than the maximum SMCZ drawdown of -97.40%. Use the drawdown chart below to compare losses from any high point for IWMY and SMCZ.

Drawdown Indicators

	IWMY	SMCZ	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-97.40%	+78.68%
Max Drawdown (1Y) Largest decline over 1 year	-11.57%	-91.49%	+79.92%
Current Drawdown Current decline from peak	-0.99%	-96.42%	+95.43%
Average Drawdown Average peak-to-trough decline	-2.88%	-77.91%	+75.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	49.58%	-46.02%

Volatility

IWMY vs. SMCZ - Volatility Comparison

The current volatility for Defiance R2000 Weekly Distribution ETF (IWMY) is 3.81%, while Defiance Daily Target 2X Short SMCI ETF (SMCZ) has a volatility of 65.84%. This indicates that IWMY experiences smaller price fluctuations and is considered to be less risky than SMCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWMY	SMCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	65.84%	-62.03%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	160.74%	-147.25%
Volatility (1Y) Calculated over the trailing 1-year period	16.34%	178.69%	-162.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.80%	175.68%	-159.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.80%	175.68%	-159.88%

IWMY vs. SMCZ - Expense Ratio Comparison

IWMY has a 1.05% expense ratio, which is lower than SMCZ's 1.29% expense ratio.

Dividends

IWMY vs. SMCZ - Dividend Comparison

IWMY's dividend yield for the trailing twelve months is around 41.16%, more than SMCZ's 16.59% yield.

Position	TTM	2025	2024	2023
IWMY Defiance R2000 Weekly Distribution ETF	41.16%	63.33%	107.92%	11.34%
SMCZ Defiance Daily Target 2X Short SMCI ETF	16.59%	2.03%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWMY and SMCZ in my portfolio?

IWMY and SMCZ have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWMY or SMCZ?

SMCZ has higher volatility (65.84%) compared to IWMY (3.81%). In terms of maximum drawdown, IWMY dropped -18.72% vs SMCZ's -97.40%.

Which ETF is better, IWMY or SMCZ?

On 1-year performance, IWMY leads with 21.52% vs -73.11% for SMCZ. On fees, IWMY is cheaper at 1.05% per year. On volatility, IWMY has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWMY or SMCZ?

Over the 1-year period, IWMY has performed better with a 21.52% return vs -73.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWMY or SMCZ?

IWMY is cheaper with a 1.05% expense ratio, compared with 1.29% for SMCZ.

Which ETF pays a higher dividend yield, IWMY or SMCZ?

IWMY has the higher dividend yield at 41.16%, compared with 16.59% for SMCZ.

What is the main difference between IWMY and SMCZ?

IWMY is categorized as Options Trading, while SMCZ is Inverse Equities. Their fees differ too: 1.05% for IWMY and 1.29% for SMCZ.

Which has better risk-adjusted returns?

IWMY currently has the higher Sharpe Ratio (1.33 vs -0.41), 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.