QPUX vs. EVSM

Last updated Jun 5, 2026

QPUX (Defiance 2X Daily Long Pure Quantum ETF) and EVSM (Eaton Vance Short Duration Municipal Income ETF) are both exchange-traded funds - QPUX is a Leveraged Equities fund actively managed by Defiance, while EVSM is a Municipal Bonds fund tracking the ICE BofA 1-3 Year Municipal Securities Index. QPUX is actively managed, while EVSM is passively managed. At a 0.00 correlation, their price movements are largely independent. QPUX charges 1.29%/yr vs 0.19%/yr for EVSM.

Performance

QPUX vs. EVSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance 2X Daily Long Pure Quantum ETF (QPUX) and Eaton Vance Short Duration Municipal Income ETF (EVSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QPUX achieves a -9.71% return, which is significantly lower than EVSM's 1.19% return.

QPUX

• 1D: -2.18%
• 1M: 48.72%
• YTD: -9.71%
• 6M: -45.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVSM

• 1D: 0.04%
• 1M: 0.48%
• YTD: 1.19%
• 6M: 1.56%
• 1Y: 4.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QPUX vs. EVSM - Yearly Performance Comparison

	2026 (YTD)	2025
QPUX Defiance 2X Daily Long Pure Quantum ETF	-9.71%	-15.90%
EVSM Eaton Vance Short Duration Municipal Income ETF	1.19%	1.46%

Correlation

The correlation between QPUX and EVSM is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 8, 2025	0.00

Return for Risk

QPUX vs. EVSM — Risk / Return Rank

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

EVSM

EVSM Risk / Return Rank: 86
EVSM Sharpe Ratio Rank: 92
EVSM Sortino Ratio Rank: 95
EVSM Omega Ratio Rank: 95
EVSM Calmar Ratio Rank: 76
EVSM Martin Ratio Rank: 73

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.

QPUX vs. EVSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance 2X Daily Long Pure Quantum ETF (QPUX) and Eaton Vance Short Duration Municipal Income ETF (EVSM). 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

	QPUX	EVSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	1.90	-2.05

Drawdowns

QPUX vs. EVSM - Drawdown Comparison

The maximum QPUX drawdown since its inception was -94.73%, which is greater than EVSM's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for QPUX and EVSM.

Drawdown Indicators

	QPUX	EVSM	Difference
Max Drawdown Largest peak-to-trough decline	-94.73%	-1.50%	-93.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.07%	—
Current Drawdown Current decline from peak	-82.09%	-0.02%	-82.07%
Average Drawdown Average peak-to-trough decline	-63.57%	-0.24%	-63.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.30%	—

Volatility

Volatility by Period

	QPUX	EVSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.32%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	194.31%	1.26%	+193.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	194.31%	1.92%	+192.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	194.31%	1.92%	+192.39%

QPUX vs. EVSM - Expense Ratio Comparison

QPUX has a 1.29% expense ratio, which is higher than EVSM's 0.19% expense ratio.

Dividends

QPUX vs. EVSM - Dividend Comparison

QPUX has not paid dividends to shareholders, while EVSM's dividend yield for the trailing twelve months is around 3.00%.

Position	TTM	2025	2024
EVSM Eaton Vance Short Duration Municipal Income ETF	3.00%	3.12%	2.99%
QPUX Defiance 2X Daily Long Pure Quantum ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QPUX and EVSM in my portfolio?

QPUX and EVSM have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QPUX or EVSM?

On fees, EVSM is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QPUX or EVSM?

EVSM is cheaper with a 0.19% expense ratio, compared with 1.29% for QPUX.

Which ETF pays a higher dividend yield, QPUX or EVSM?

EVSM has the higher dividend yield at 3.00%, compared with 0.00% for QPUX.

What is the main difference between QPUX and EVSM?

QPUX is categorized as Leveraged Equities, while EVSM is Municipal Bonds. They also come from different issuers: Defiance and Eaton Vance. Their fees differ too: 1.29% for QPUX and 0.19% for EVSM.