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 Building & Construction fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. SMCX is actively managed, while AIPO is passively managed. A 0.57 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 -48.60% return, which is significantly lower than AIPO's 49.55% return.
SMCX
- 1D
- -12.21%
- 1M
- -34.45%
- YTD
- -48.60%
- 6M
- -53.94%
- 1Y
- -82.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AIPO
- 1D
- -4.86%
- 1M
- 2.22%
- YTD
- 49.55%
- 6M
- 45.94%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMCX vs. AIPO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMCX Defiance Daily Target 2X Long SMCI ETF | -48.60% | -78.23% |
AIPO Defiance AI & Power Infrastructure ETF | 49.55% | 9.46% |
Correlation
The correlation between SMCX and AIPO is 0.57, 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 25, 2025 | 0.57 |
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Return for Risk
SMCX vs. AIPO — Risk / Return Rank
SMCX
AIPO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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.
| SMCX | AIPO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.00 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | — | — |
| Martin ratioReturn relative to average drawdown | -1.17 | — | — |
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Drawdowns
SMCX vs. AIPO - Drawdown Comparison
The maximum SMCX drawdown since its inception was -99.08%, 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 | -99.08% | -17.31% | -81.77% |
Max Drawdown (1Y)Largest decline over 1 year | -94.75% | — | — |
Current DrawdownCurrent decline from peak | -98.51% | -4.86% | -93.65% |
Average DrawdownAverage peak-to-trough decline | -88.12% | -4.44% | -83.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 70.70% | — | — |
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 | 105.83% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 177.60% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 173.86% | 35.59% | +138.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 205.25% | 35.59% | +169.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 205.25% | 35.59% | +169.66% |
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 8.53%, 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 | 8.53% | 4.39% |
Frequently Asked Questions
SMCX and AIPO have a correlation of 0.57, 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 8.53%, compared with 0.01% for AIPO.
SMCX is categorized as Leveraged Equities, while AIPO is Building & Construction. Their fees differ too: 1.29% for SMCX and 0.69% for AIPO.
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