PLTZ vs. SMST

Last updated Jun 4, 2026

PLTZ (Defiance Daily Target 2X Short PLTR ETF) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both Inverse Equities funds from Defiance. Both are actively managed. At a 0.40 correlation, their price movements are largely independent. Both charge a 1.29% expense ratio.

Performance

PLTZ vs. SMST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short PLTR ETF (PLTZ) 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, PLTZ achieves a 4.28% return, which is significantly higher than SMST's -49.49% return.

PLTZ

• 1D: 13.03%
• 1M: -4.65%
• YTD: 4.28%
• 6M: -1.19%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMST

• 1D: 13.96%
• 1M: 85.04%
• YTD: -49.49%
• 6M: -27.60%
• 1Y: 73.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PLTZ vs. SMST - Yearly Performance Comparison

	2026 (YTD)	2025
PLTZ Defiance Daily Target 2X Short PLTR ETF	4.28%	-64.39%
SMST Defiance Daily Target 2X Short MSTR ETF	-49.49%	222.78%

Correlation

The correlation between PLTZ and SMST is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 9, 2025	0.40

Return for Risk

PLTZ vs. SMST — Risk / Return Rank

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

SMST

SMST Risk / Return Rank: 24
SMST Sharpe Ratio Rank: 18
SMST Sortino Ratio Rank: 31
SMST Omega Ratio Rank: 32
SMST Calmar Ratio Rank: 21
SMST Martin Ratio Rank: 18

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.

PLTZ vs. SMST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short PLTR ETF (PLTZ) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PLTZ	SMST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.62	-0.52	-0.10

Drawdowns

PLTZ vs. SMST - Drawdown Comparison

The maximum PLTZ drawdown since its inception was -70.28%, smaller than the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for PLTZ and SMST.

Drawdown Indicators

	PLTZ	SMST	Difference
Max Drawdown Largest peak-to-trough decline	-70.28%	-99.25%	+28.97%
Max Drawdown (1Y) Largest decline over 1 year	—	-85.39%	—
Current Drawdown Current decline from peak	-62.87%	-98.02%	+35.15%
Average Drawdown Average peak-to-trough decline	-52.02%	-90.67%	+38.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	40.73%	—

Volatility

Volatility by Period

	PLTZ	SMST	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	37.33%	—
Volatility (6M) Calculated over the trailing 6-month period	—	126.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	101.99%	140.93%	-38.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	101.99%	166.79%	-64.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	101.99%	166.79%	-64.80%

PLTZ vs. SMST - Expense Ratio Comparison

Both PLTZ and SMST have an expense ratio of 1.29%.

Dividends

PLTZ vs. SMST - Dividend Comparison

Neither PLTZ nor SMST has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PLTZ and SMST in my portfolio?

PLTZ and SMST have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PLTZ or SMST?

Both ETFs have the same 1.29% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PLTZ or SMST?

PLTZ and SMST have the same expense ratio: 1.29% per year.

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

PLTZ and SMST have nearly identical dividend yields, around 0.00%.