SMCX vs. IBIC

Last updated Jun 4, 2026

SMCX (Defiance Daily Target 2X Long SMCI ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - SMCX is a Leveraged Equities fund actively managed by Defiance, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. SMCX is actively managed, while IBIC is passively managed. Over the past year, SMCX returned -60.96% vs 4.54% for IBIC. At a correlation of -0.14, they often move in opposite directions. SMCX charges 1.29%/yr vs 0.10%/yr for IBIC.

Performance

SMCX vs. IBIC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long SMCI ETF (SMCX) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMCX achieves a 34.65% return, which is significantly higher than IBIC's 2.37% return.

SMCX

• 1D: -10.89%
• 1M: 157.98%
• YTD: 34.65%
• 6M: -1.99%
• 1Y: -60.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIC

• 1D: 0.02%
• 1M: 0.27%
• YTD: 2.37%
• 6M: 2.51%
• 1Y: 4.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMCX vs. IBIC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMCX Defiance Daily Target 2X Long SMCI ETF	34.65%	-69.78%	-89.57%
IBIC iShares iBonds Oct 2026 Term TIPS ETF	2.37%	4.96%	1.93%

Correlation

The correlation between SMCX and IBIC is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Aug 23, 2024	-0.14

Return for Risk

SMCX vs. IBIC — Risk / Return Rank

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

SMCX

SMCX Risk / Return Rank: 8
SMCX Sharpe Ratio Rank: 5
SMCX Sortino Ratio Rank: 12
SMCX Omega Ratio Rank: 12
SMCX Calmar Ratio Rank: 4
SMCX Martin Ratio Rank: 5

IBIC

IBIC Risk / Return Rank: 98
IBIC Sharpe Ratio Rank: 97
IBIC Sortino Ratio Rank: 98
IBIC Omega Ratio Rank: 98
IBIC Calmar Ratio Rank: 98
IBIC Martin Ratio Rank: 98

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. IBIC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long SMCI ETF (SMCX) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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	IBIC	Difference
Sharpe ratio: Return per unit of total volatility	-0.39	5.05	-5.44
Sortino ratio: Return per unit of downside risk	0.43	9.12	-8.69
Omega ratio: Gain probability vs. loss probability	1.06	2.24	-1.18
Calmar ratio: Return relative to maximum drawdown	-0.64	17.27	-17.92
Martin ratio: Return relative to average drawdown	-0.90	67.45	-68.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMCX vs. IBIC - Sharpe Ratio Comparison

The current SMCX Sharpe Ratio is -0.39, which is lower than the IBIC Sharpe Ratio of 5.05. The chart below compares the historical Sharpe Ratios of SMCX and IBIC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SMCX	IBIC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.39	5.05	-5.44
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	3.49	-3.91

Drawdowns

SMCX vs. IBIC - Drawdown Comparison

The maximum SMCX drawdown since its inception was -99.02%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for SMCX and IBIC.

Drawdown Indicators

	SMCX	IBIC	Difference
Max Drawdown Largest peak-to-trough decline	-99.02%	-0.90%	-98.12%
Max Drawdown (1Y) Largest decline over 1 year	-94.75%	-0.26%	-94.49%
Current Drawdown Current decline from peak	-95.87%	-0.13%	-95.74%
Average Drawdown Average peak-to-trough decline	-87.27%	-0.10%	-87.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	67.77%	0.07%	+67.70%

Volatility

SMCX vs. IBIC - Volatility Comparison

Defiance Daily Target 2X Long SMCI ETF (SMCX) has a higher volatility of 57.58% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.33%. This indicates that SMCX's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCX	IBIC	Difference
Volatility (1M) Calculated over the trailing 1-month period	57.58%	0.33%	+57.25%
Volatility (6M) Calculated over the trailing 6-month period	149.68%	0.67%	+149.01%
Volatility (1Y) Calculated over the trailing 1-year period	157.25%	0.90%	+156.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	199.87%	1.58%	+198.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	199.87%	1.58%	+198.29%

SMCX vs. IBIC - Expense Ratio Comparison

SMCX has a 1.29% expense ratio, which is higher than IBIC's 0.10% expense ratio.

Dividends

SMCX vs. IBIC - Dividend Comparison

SMCX's dividend yield for the trailing twelve months is around 3.26%, less than IBIC's 3.59% yield.

Position	TTM	2025	2024	2023
IBIC iShares iBonds Oct 2026 Term TIPS ETF	3.59%	4.43%	4.65%	0.83%
SMCX Defiance Daily Target 2X Long SMCI ETF	3.26%	4.39%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMCX and IBIC in my portfolio?

SMCX and IBIC have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMCX or IBIC?

SMCX has higher volatility (57.58%) compared to IBIC (0.33%). In terms of maximum drawdown, SMCX dropped -99.02% vs IBIC's -0.90%.

Which ETF is better, SMCX or IBIC?

On 1-year performance, IBIC leads with 4.54% vs -60.96% for SMCX. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMCX or IBIC?

Over the 1-year period, IBIC has performed better with a 4.54% return vs -60.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMCX or IBIC?

IBIC is cheaper with a 0.10% expense ratio, compared with 1.29% for SMCX.

Which ETF pays a higher dividend yield, SMCX or IBIC?

IBIC has the higher dividend yield at 3.59%, compared with 3.26% for SMCX.

What is the main difference between SMCX and IBIC?

SMCX is categorized as Leveraged Equities, while IBIC is Inflation-Protected Bonds. They also come from different issuers: Defiance and iShares. Their fees differ too: 1.29% for SMCX and 0.10% for IBIC.

Which has better risk-adjusted returns?

IBIC currently has the higher Sharpe Ratio (5.05 vs -0.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.