PLTZ vs. SMST
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. Over the past year, PLTZ returned -35.88% vs 112.90% for SMST. At a 0.42 correlation, their price movements are largely independent. Both charge a 1.29% expense ratio.
Performance
PLTZ vs. SMST - Performance Comparison
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Returns By Period
In the year-to-date period, PLTZ achieves a 48.68% return, which is significantly higher than SMST's -32.44% return.
PLTZ
- 1D
- 4.41%
- 1M
- 22.41%
- YTD
- 48.68%
- 6M
- 76.10%
- 1Y
- -35.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMST
- 1D
- 9.85%
- 1M
- 101.03%
- YTD
- -32.44%
- 6M
- -27.49%
- 1Y
- 112.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PLTZ vs. SMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PLTZ Defiance Daily Target 2X Short PLTR ETF | 48.68% | -67.07% |
SMST Defiance Daily Target 2X Short MSTR ETF | -32.44% | 212.67% |
Correlation
The correlation between PLTZ and SMST is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025 | 0.42 |
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Return for Risk
PLTZ vs. SMST — Risk / Return Rank
PLTZ
SMST
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.
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.
| PLTZ | SMST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.23 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 1.33 | -1.86 |
| Martin ratioReturn relative to average drawdown | -0.70 | 2.63 | -3.34 |
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Drawdowns
PLTZ vs. SMST - Drawdown Comparison
The maximum PLTZ drawdown since its inception was -72.51%, 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.
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Drawdown Indicators
| PLTZ | SMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.51% | -99.25% | +26.74% |
Max Drawdown (1Y)Largest decline over 1 year | -67.51% | -85.39% | +17.88% |
Current DrawdownCurrent decline from peak | -51.04% | -97.35% | +46.31% |
Average DrawdownAverage peak-to-trough decline | -55.64% | -90.72% | +35.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.01% | 43.37% | +7.64% |
Volatility
PLTZ vs. SMST - Volatility Comparison
The current volatility for Defiance Daily Target 2X Short PLTR ETF (PLTZ) is 39.87%, while Defiance Daily Target 2X Short MSTR ETF (SMST) has a volatility of 42.53%. This indicates that PLTZ 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
| PLTZ | SMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.87% | 42.53% | -2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 76.47% | 128.39% | -51.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 102.92% | 144.30% | -41.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 101.96% | 166.48% | -64.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.96% | 166.48% | -64.52% |
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.
Frequently Asked Questions
PLTZ 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 (42.53%) compared to PLTZ (39.87%). In terms of maximum drawdown, PLTZ dropped -72.51% vs SMST's -99.25%.
On 1-year performance, SMST leads with 112.90% vs -35.88% for PLTZ. Both ETFs have the same 1.29% expense ratio. On volatility, PLTZ has been the lower-risk option at 39.87%. 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 112.90% return vs -35.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PLTZ and SMST have the same expense ratio: 1.29% per year.
PLTZ and SMST have nearly identical dividend yields, around 0.00%.
SMST currently has the higher Sharpe Ratio (0.79 vs -0.35), 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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