SMCX vs. KORU

Last updated Jul 14, 2026

SMCX (Defiance Daily Target 2X Long SMCI ETF) and KORU (Direxion Daily MSCI South Korea Bull 3X Shares) are both exchange-traded funds - SMCX is a Leveraged Equities fund actively managed by Defiance, while KORU is a South Korea Equities fund tracking the MSCI Korea 25/50 Index. SMCX is actively managed, while KORU is passively managed. Over the past year, SMCX returned -91.71% vs 413.07% for KORU. At a 0.46 correlation, their price movements are largely independent. SMCX charges 1.29%/yr vs 1.32%/yr for KORU.

Performance

SMCX vs. KORU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long SMCI ETF (SMCX) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMCX achieves a -65.88% return, which is significantly lower than KORU's 130.89% return.

SMCX

• 1D: -4.66%
• 1M: -24.17%
• 6M: -67.37%
• YTD: -65.88%
• 1Y: -91.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KORU

• 1D: -24.74%
• 1M: -49.18%
• 6M: 66.57%
• YTD: 130.89%
• 1Y: 413.07%
• 3Y*: 60.31%
• 5Y*: 1.85%
• 10Y*: 6.31%

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

SMCX vs. KORU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMCX Defiance Daily Target 2X Long SMCI ETF	-65.88%	-69.78%	-90.42%
KORU Direxion Daily MSCI South Korea Bull 3X Shares	130.89%	432.73%	-56.51%

Correlation

The correlation between SMCX and KORU is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024	0.46

Return for Risk

SMCX vs. KORU — Risk / Return Rank

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

SMCX

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

KORU

KORU Risk / Return Rank: 89
KORU Sharpe Ratio Rank: 94
KORU Sortino Ratio Rank: 79
KORU Omega Ratio Rank: 85
KORU Calmar Ratio Rank: 95
KORU Martin Ratio Rank: 92

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. KORU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long SMCI ETF (SMCX) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). 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	KORU	Difference
Sharpe ratio: Return per unit of total volatility	-0.53	2.78	-3.31
Sortino ratio: Return per unit of downside risk	-0.56	2.78	-3.33
Omega ratio: Gain probability vs. loss probability	0.92	1.40	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.97	6.23	-7.20
Martin ratio: Return relative to average drawdown	-1.24	17.42	-18.66

SMCX vs. KORU - Sharpe Ratio Comparison

The current SMCX Sharpe Ratio is -0.53, which is lower than the KORU Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of SMCX and KORU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SMCX vs. KORU - Drawdown Comparison

The maximum SMCX drawdown since its inception was -99.10%, roughly equal to the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for SMCX and KORU.

Drawdown Indicators

	SMCX	KORU	Difference
Max Drawdown Largest peak-to-trough decline	-99.10%	-95.79%	-3.31%
Max Drawdown (1Y) Largest decline over 1 year	-94.88%	-66.86%	-28.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-73.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-92.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-95.79%	—
Current Drawdown Current decline from peak	-99.01%	-66.86%	-32.15%
Average Drawdown Average peak-to-trough decline	-88.42%	-57.39%	-31.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	73.83%	23.85%	+49.98%

Volatility

SMCX vs. KORU - Volatility Comparison

The current volatility for Defiance Daily Target 2X Long SMCI ETF (SMCX) is 53.34%, while Direxion Daily MSCI South Korea Bull 3X Shares (KORU) has a volatility of 78.13%. This indicates that SMCX experiences smaller price fluctuations and is considered to be less risky than KORU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCX	KORU	Difference
Volatility (1M) Calculated over the trailing 1-month period	53.34%	78.13%	-24.79%
Volatility (6M) Calculated over the trailing 6-month period	179.02%	145.83%	+33.19%
Volatility (1Y) Calculated over the trailing 1-year period	173.09%	150.12%	+22.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	203.52%	93.49%	+110.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	203.52%	84.08%	+119.44%

SMCX vs. KORU - Expense Ratio Comparison

SMCX has a 1.29% expense ratio, which is lower than KORU's 1.32% expense ratio.

Dividends

SMCX vs. KORU - Dividend Comparison

SMCX's dividend yield for the trailing twelve months is around 12.85%, more than KORU's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KORU Direxion Daily MSCI South Korea Bull 3X Shares	0.38%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%
SMCX Defiance Daily Target 2X Long SMCI ETF	12.85%	4.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMCX and KORU in my portfolio?

SMCX and KORU have a correlation of 0.49, 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 KORU?

KORU has higher volatility (78.13%) compared to SMCX (53.34%). In terms of maximum drawdown, SMCX dropped -99.10% vs KORU's -95.79%.

Which ETF is better, SMCX or KORU?

On 1-year performance, KORU leads with 413.07% vs -91.71% for SMCX. On fees, SMCX is cheaper at 1.29% per year. On volatility, SMCX has been the lower-risk option at 53.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMCX or KORU?

Over the 1-year period, KORU has performed better with a 413.07% return vs -91.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMCX or KORU?

SMCX is cheaper with a 1.29% expense ratio, compared with 1.32% for KORU.

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

SMCX has the higher dividend yield at 12.85%, compared with 0.38% for KORU.

What is the main difference between SMCX and KORU?

SMCX is categorized as Leveraged Equities, while KORU is South Korea Equities. They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.29% for SMCX and 1.32% for KORU.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (2.78 vs -0.53), 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.