SMCX vs. IBIC
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 -82.63% vs 4.42% for IBIC. At a correlation of -0.12, they often move in opposite directions. SMCX charges 1.29%/yr vs 0.10%/yr for IBIC.
Performance
SMCX vs. IBIC - 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 IBIC's 2.43% return.
SMCX
- 1D
- -12.21%
- 1M
- -34.45%
- YTD
- -48.60%
- 6M
- -53.94%
- 1Y
- -82.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIC
- 1D
- 0.04%
- 1M
- 0.12%
- YTD
- 2.43%
- 6M
- 2.57%
- 1Y
- 4.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMCX vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMCX Defiance Daily Target 2X Long SMCI ETF | -48.60% | -69.78% | -90.42% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.43% | 4.96% | 1.87% |
Correlation
The correlation between SMCX and IBIC is -0.15, 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 | -0.15 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024 | -0.12 |
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Return for Risk
SMCX vs. IBIC — Risk / Return Rank
SMCX
IBIC
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.
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 | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.47 | ||
| Sortino ratioReturn per unit of downside risk | -8.96 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 2.22 | -1.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 16.56 | -17.44 |
| Martin ratioReturn relative to average drawdown | -1.17 | 58.67 | -59.84 |
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Drawdowns
SMCX vs. IBIC - Drawdown Comparison
The maximum SMCX drawdown since its inception was -99.08%, 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.
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Drawdown Indicators
| SMCX | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.08% | -0.90% | -98.18% |
Max Drawdown (1Y)Largest decline over 1 year | -94.75% | -0.27% | -94.48% |
Current DrawdownCurrent decline from peak | -98.51% | -0.08% | -98.43% |
Average DrawdownAverage peak-to-trough decline | -88.12% | -0.10% | -88.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 70.70% | 0.08% | +70.62% |
Volatility
SMCX vs. IBIC - Volatility Comparison
Defiance Daily Target 2X Long SMCI ETF (SMCX) has a higher volatility of 105.83% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. 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.
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Volatility by Period
| SMCX | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 105.83% | 0.17% | +105.66% |
Volatility (6M)Calculated over the trailing 6-month period | 177.60% | 0.67% | +176.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 173.86% | 0.89% | +172.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 205.25% | 1.56% | +203.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 205.25% | 1.56% | +203.69% |
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 8.53%, more than IBIC's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.58% | 4.43% | 4.65% | 0.83% |
SMCX Defiance Daily Target 2X Long SMCI ETF | 8.53% | 4.39% | 0.00% | 0.00% |
Frequently Asked Questions
SMCX and IBIC have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMCX has higher volatility (105.83%) compared to IBIC (0.17%). In terms of maximum drawdown, SMCX dropped -99.08% vs IBIC's -0.90%.
On 1-year performance, IBIC leads with 4.42% vs -82.63% for SMCX. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIC has performed better with a 4.42% return vs -82.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 1.29% for SMCX.
SMCX has the higher dividend yield at 8.53%, compared with 3.58% for 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.
IBIC currently has the higher Sharpe Ratio (4.99 vs -0.48), 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.
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