SMCX vs. AIPO
SMCX (Defiance Daily Target 2X Long SMCI ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - SMCX is a Leveraged Equities fund actively managed by Defiance, while AIPO is a Technology Equities fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. SMCX is actively managed, while AIPO is passively managed. A 0.54 correlation means they provide meaningful diversification when combined. SMCX charges 1.29%/yr vs 0.69%/yr for AIPO.
Performance
SMCX vs. AIPO - Performance Comparison
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Returns By Period
In the year-to-date period, SMCX achieves a 34.65% return, which is significantly lower than AIPO's 52.03% return.
SMCX
- 1D
- -10.89%
- 1M
- 157.98%
- YTD
- 34.65%
- 6M
- -1.99%
- 1Y
- -60.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AIPO
- 1D
- -1.12%
- 1M
- 6.63%
- YTD
- 52.03%
- 6M
- 45.92%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMCX vs. AIPO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMCX Defiance Daily Target 2X Long SMCI ETF | 34.65% | -79.74% |
AIPO Defiance AI & Power Infrastructure ETF | 52.03% | 8.68% |
Correlation
The correlation between SMCX and AIPO is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 28, 2025 | 0.54 |
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Return for Risk
SMCX vs. AIPO — Risk / Return Rank
SMCX
AIPO
SMCX vs. AIPO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long SMCI ETF (SMCX) and Defiance AI & Power Infrastructure ETF (AIPO). 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.
| SMCX | AIPO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.06 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | — | — |
| Martin ratioReturn relative to average drawdown | -0.90 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMCX | AIPO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | 2.36 | -2.77 |
Drawdowns
SMCX vs. AIPO - Drawdown Comparison
The maximum SMCX drawdown since its inception was -99.02%, which is greater than AIPO's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for SMCX and AIPO.
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Drawdown Indicators
| SMCX | AIPO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.02% | -17.31% | -81.71% |
Max Drawdown (1Y)Largest decline over 1 year | -94.75% | — | — |
Current DrawdownCurrent decline from peak | -95.87% | -1.12% | -94.75% |
Average DrawdownAverage peak-to-trough decline | -87.27% | -4.38% | -82.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.77% | — | — |
Volatility
SMCX vs. AIPO - Volatility Comparison
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Volatility by Period
| SMCX | AIPO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 57.58% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 149.68% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 157.25% | 34.09% | +123.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 199.87% | 34.09% | +165.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 199.87% | 34.09% | +165.78% |
SMCX vs. AIPO - Expense Ratio Comparison
SMCX has a 1.29% expense ratio, which is higher than AIPO's 0.69% expense ratio.
Dividends
SMCX vs. AIPO - Dividend Comparison
SMCX's dividend yield for the trailing twelve months is around 3.26%, more than AIPO's 0.01% yield.
| Position | TTM | 2025 |
|---|---|---|
AIPO Defiance AI & Power Infrastructure ETF | 0.01% | 0.01% |
SMCX Defiance Daily Target 2X Long SMCI ETF | 3.26% | 4.39% |
Frequently Asked Questions
SMCX and AIPO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AIPO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AIPO is cheaper with a 0.69% expense ratio, compared with 1.29% for SMCX.
SMCX has the higher dividend yield at 3.26%, compared with 0.01% for AIPO.
SMCX is categorized as Leveraged Equities, while AIPO is Technology Equities. Their fees differ too: 1.29% for SMCX and 0.69% for AIPO.
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