PLTD vs. SMCZ

Last updated Jun 4, 2026

PLTD (Direxion Daily PLTR Bear 1X Shares) and SMCZ (Defiance Daily Target 2X Short SMCI ETF) are both Inverse Equities funds. PLTD is passively managed, while SMCZ is actively managed. Over the past year, PLTD returned -22.19% vs -89.94% for SMCZ. At a 0.40 correlation, their price movements are largely independent. PLTD charges 0.98%/yr vs 1.29%/yr for SMCZ.

Performance

PLTD vs. SMCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily PLTR Bear 1X Shares (PLTD) 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, PLTD achieves a 13.23% return, which is significantly higher than SMCZ's -90.14% return.

PLTD

• 1D: 6.63%
• 1M: -0.00%
• YTD: 13.23%
• 6M: 11.78%
• 1Y: -22.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMCZ

• 1D: 10.93%
• 1M: -77.87%
• YTD: -90.14%
• 6M: -87.78%
• 1Y: -89.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PLTD vs. SMCZ - Yearly Performance Comparison

	2026 (YTD)	2025
PLTD Direxion Daily PLTR Bear 1X Shares	13.23%	-60.78%
SMCZ Defiance Daily Target 2X Short SMCI ETF	-90.14%	-61.04%

Correlation

The correlation between PLTD and SMCZ is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	0.40

Return for Risk

PLTD vs. SMCZ — Risk / Return Rank

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

PLTD

PLTD Risk / Return Rank: 5
PLTD Sharpe Ratio Rank: 5
PLTD Sortino Ratio Rank: 6
PLTD Omega Ratio Rank: 6
PLTD Calmar Ratio Rank: 5
PLTD Martin Ratio Rank: 6

SMCZ

SMCZ Risk / Return Rank: 2
SMCZ Sharpe Ratio Rank: 4
SMCZ Sortino Ratio Rank: 3
SMCZ Omega Ratio Rank: 3
SMCZ Calmar Ratio Rank: 0
SMCZ Martin Ratio Rank: 0

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.

PLTD vs. SMCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily PLTR Bear 1X Shares (PLTD) 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.

	PLTD	SMCZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	-0.57	+0.14
Sortino ratio: Return per unit of downside risk	-0.34	-0.94	+0.60
Omega ratio: Gain probability vs. loss probability	0.96	0.88	+0.08
Calmar ratio: Return relative to maximum drawdown	-0.50	-0.98	+0.48
Martin ratio: Return relative to average drawdown	-0.74	-2.00	+1.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLTD vs. SMCZ - Sharpe Ratio Comparison

The current PLTD Sharpe Ratio is -0.43, which is comparable to the SMCZ Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of PLTD 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.

Sharpe Ratios by Period

	PLTD	SMCZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.43	-0.57	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	-0.86	-0.58	-0.28

Drawdowns

PLTD vs. SMCZ - Drawdown Comparison

The maximum PLTD drawdown since its inception was -77.34%, smaller than the maximum SMCZ drawdown of -97.40%. Use the drawdown chart below to compare losses from any high point for PLTD and SMCZ.

Drawdown Indicators

	PLTD	SMCZ	Difference
Max Drawdown Largest peak-to-trough decline	-77.34%	-97.40%	+20.06%
Max Drawdown (1Y) Largest decline over 1 year	-44.79%	-91.74%	+46.95%
Current Drawdown Current decline from peak	-71.01%	-97.12%	+26.11%
Average Drawdown Average peak-to-trough decline	-59.43%	-75.71%	+16.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.14%	44.99%	-14.85%

Volatility

PLTD vs. SMCZ - Volatility Comparison

The current volatility for Direxion Daily PLTR Bear 1X Shares (PLTD) is 18.68%, while Defiance Daily Target 2X Short SMCI ETF (SMCZ) has a volatility of 80.07%. This indicates that PLTD 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

	PLTD	SMCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.68%	80.07%	-61.39%
Volatility (6M) Calculated over the trailing 6-month period	38.02%	131.65%	-93.63%
Volatility (1Y) Calculated over the trailing 1-year period	51.79%	156.87%	-105.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.73%	163.39%	-99.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.73%	163.39%	-99.66%

PLTD vs. SMCZ - Expense Ratio Comparison

PLTD has a 0.98% expense ratio, which is lower than SMCZ's 1.29% expense ratio.

Dividends

PLTD vs. SMCZ - Dividend Comparison

PLTD's dividend yield for the trailing twelve months is around 3.26%, less than SMCZ's 20.59% yield.

Position	TTM	2025
PLTD Direxion Daily PLTR Bear 1X Shares	3.26%	5.17%
SMCZ Defiance Daily Target 2X Short SMCI ETF	20.59%	2.03%

Frequently Asked Questions

Can I hold both PLTD and SMCZ in my portfolio?

PLTD and SMCZ have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTD or SMCZ?

SMCZ has higher volatility (80.07%) compared to PLTD (18.68%). In terms of maximum drawdown, PLTD dropped -77.34% vs SMCZ's -97.40%.

Which ETF is better, PLTD or SMCZ?

On 1-year performance, PLTD leads with -22.19% vs -89.94% for SMCZ. On fees, PLTD is cheaper at 0.98% per year. On volatility, PLTD has been the lower-risk option at 18.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTD or SMCZ?

Over the 1-year period, PLTD has performed better with a -22.19% return vs -89.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTD or SMCZ?

PLTD is cheaper with a 0.98% expense ratio, compared with 1.29% for SMCZ.

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

SMCZ has the higher dividend yield at 20.59%, compared with 3.26% for PLTD.

What is the main difference between PLTD and SMCZ?

They also come from different issuers: Direxion and Defiance. Their fees differ too: 0.98% for PLTD and 1.29% for SMCZ.

Which has better risk-adjusted returns?

PLTD currently has the higher Sharpe Ratio (-0.43 vs -0.57), 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.