QCMD vs. SMST
QCMD (Direxion Daily QCOM Bear 1X Shares) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both Inverse Equities funds. At a 0.23 correlation, their price movements are largely independent. QCMD charges 1.00%/yr vs 1.29%/yr for SMST.
Performance
QCMD vs. SMST - Performance Comparison
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Returns By Period
In the year-to-date period, QCMD achieves a -38.50% return, which is significantly higher than SMST's -51.70% return.
QCMD
- 1D
- 2.78%
- 1M
- -28.50%
- YTD
- -38.50%
- 6M
- -37.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMST
- 1D
- -4.37%
- 1M
- 82.90%
- YTD
- -51.70%
- 6M
- -32.23%
- 1Y
- 61.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QCMD vs. SMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QCMD Direxion Daily QCOM Bear 1X Shares | -38.50% | -11.76% |
SMST Defiance Daily Target 2X Short MSTR ETF | -51.70% | 255.15% |
Correlation
The correlation between QCMD and SMST is 0.23, 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 26, 2025 | 0.23 |
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Return for Risk
QCMD vs. SMST — Risk / Return Rank
QCMD
SMST
QCMD vs. SMST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily QCOM Bear 1X Shares (QCMD) 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.
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Sharpe Ratios by Period
| QCMD | SMST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.01 | -0.53 | -0.49 |
Drawdowns
QCMD vs. SMST - Drawdown Comparison
The maximum QCMD drawdown since its inception was -56.03%, smaller than the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for QCMD and SMST.
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Drawdown Indicators
| QCMD | SMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.03% | -99.25% | +43.22% |
Max Drawdown (1Y)Largest decline over 1 year | — | -85.39% | — |
Current DrawdownCurrent decline from peak | -54.81% | -98.10% | +43.29% |
Average DrawdownAverage peak-to-trough decline | -13.32% | -90.68% | +77.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 40.97% | — |
Volatility
QCMD vs. SMST - Volatility Comparison
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Volatility by Period
| QCMD | SMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 37.55% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 126.04% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 47.28% | 140.75% | -93.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.28% | 166.63% | -119.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.28% | 166.63% | -119.35% |
QCMD vs. SMST - Expense Ratio Comparison
QCMD has a 1.00% expense ratio, which is lower than SMST's 1.29% expense ratio.
Dividends
QCMD vs. SMST - Dividend Comparison
QCMD's dividend yield for the trailing twelve months is around 3.86%, while SMST has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
QCMD Direxion Daily QCOM Bear 1X Shares | 3.86% | 1.77% |
SMST Defiance Daily Target 2X Short MSTR ETF | 0.00% | 0.00% |
Frequently Asked Questions
QCMD and SMST have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QCMD is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QCMD is cheaper with a 1.00% expense ratio, compared with 1.29% for SMST.
QCMD has the higher dividend yield at 3.86%, compared with 0.00% for SMST.
They also come from different issuers: Direxion and Defiance. Their fees differ too: 1.00% for QCMD and 1.29% for SMST.
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