SMCX vs. GLDY

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance Daily Target 2X Long SMCI ETF (SMCX) and Defiance Gold Enhanced Options Income ETF (GLDY).

SMCX and GLDY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMCX is an actively managed fund by Defiance. It was launched on Aug 21, 2024. GLDY is an actively managed fund by Defiance. It was launched on Apr 1, 2025.

Performance

SMCX vs. GLDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long SMCI ETF (SMCX) and Defiance Gold Enhanced Options Income ETF (GLDY). The values are adjusted to include any dividend payments, if applicable.

SMCX vs. GLDY - Yearly Performance Comparison

	2026 (YTD)	2025
SMCX Defiance Daily Target 2X Long SMCI ETF	-62.54%	-64.85%
GLDY Defiance Gold Enhanced Options Income ETF	1.71%	15.40%

Returns By Period

In the year-to-date period, SMCX achieves a -62.54% return, which is significantly lower than GLDY's 1.71% return.

SMCX

• 1D: 16.35%
• 1M: -65.34%
• YTD: -62.54%
• 6M: -88.56%
• 1Y: -86.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLDY

• 1D: 1.38%
• 1M: -7.41%
• YTD: 1.71%
• 6M: 7.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMCX vs. GLDY - Expense Ratio Comparison

SMCX has a 1.29% expense ratio, which is higher than GLDY's 0.99% expense ratio.

SMCX

Defiance Daily Target 2X Long SMCI ETF

GLDY

Defiance Gold Enhanced Options Income ETF

Return for Risk

SMCX vs. GLDY — Risk / Return Rank

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

SMCX

SMCX Risk / Return Rank: 3
SMCX Sharpe Ratio Rank: 3
SMCX Sortino Ratio Rank: 5
SMCX Omega Ratio Rank: 4
SMCX Calmar Ratio Rank: 0
SMCX Martin Ratio Rank: 1

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.

SMCX vs. GLDY - 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 Gold Enhanced Options Income ETF (GLDY). 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	GLDY	Difference
Sharpe ratio Return per unit of total volatility	-0.55	—	—
Sortino ratio Return per unit of downside risk	-0.46	—	—
Omega ratio Gain probability vs. loss probability	0.94	—	—
Calmar ratio Return relative to maximum drawdown	-0.91	—	—
Martin ratio Return relative to average drawdown	-1.50	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SMCX	GLDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.47	0.88	-1.35

Correlation

The correlation between SMCX and GLDY is -0.05. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SMCX vs. GLDY - Dividend Comparison

SMCX's dividend yield for the trailing twelve months is around 11.71%, less than GLDY's 48.03% yield.

	TTM	2025
SMCX Defiance Daily Target 2X Long SMCI ETF	11.71%	4.39%
GLDY Defiance Gold Enhanced Options Income ETF	48.03%	37.38%

Drawdowns

SMCX vs. GLDY - Drawdown Comparison

The maximum SMCX drawdown since its inception was -99.02%, which is greater than GLDY's maximum drawdown of -13.43%. Use the drawdown chart below to compare losses from any high point for SMCX and GLDY.

Drawdown Indicators

	SMCX	GLDY	Difference
Max Drawdown Largest peak-to-trough decline	-99.02%	-13.43%	-85.59%
Max Drawdown (1Y) Largest decline over 1 year	-94.75%	—	—
Current Drawdown Current decline from peak	-98.85%	-9.56%	-89.29%
Average Drawdown Average peak-to-trough decline	-86.10%	-2.82%	-83.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	57.36%	—	—

Volatility

Volatility by Period

	SMCX	GLDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	116.22%	—	—
Volatility (6M) Calculated over the trailing 6-month period	144.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	158.15%	19.99%	+138.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	201.19%	19.99%	+181.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	201.19%	19.99%	+181.20%