SMCX vs. KORU
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 -93.66% vs 326.36% for KORU. Their 0.47 correlation means their historical movements had little consistent relationship. SMCX charges 1.29%/yr vs 1.32%/yr for KORU.
Performance
SMCX vs. KORU - Performance Comparison
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Returns By Period
In the year-to-date period, SMCX achieves a -66.84% return, which is significantly lower than KORU's 74.82% return.
SMCX
- 1D
- 4.85%
- 1M
- -0.92%
- 6M
- -64.97%
- YTD
- -66.84%
- 1Y
- -93.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -90.90%
KORU
- 1D
- 5.87%
- 1M
- -41.38%
- 6M
- -5.76%
- YTD
- 74.82%
- 1Y
- 326.36%
- 3Y*
- 52.12%
- 5Y*
- -3.49%
- 10Y*
- 2.54%
- ALL TIME*
- -0.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $701.92M | $755.38M | $782.78M | |
| $66.75M | $51.09M | $65.72M |
SMCX vs. KORU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMCX Defiance Daily Target 2X Long SMCI ETF | -66.84% | -69.78% | -90.42% |
KORU Direxion Daily MSCI South Korea Bull 3X Shares | 74.82% | 432.73% | -56.51% |
Correlation
The correlation between SMCX and KORU is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024 | 0.47 |
The correlation between SMCX and KORU has been stable across timeframes, ranging from 0.47 to 0.52 - a consistent structural relationship.
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Return for Risk
SMCX vs. KORU — Risk / Return Rank
SMCX
KORU
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 ratioReturn per unit of total volatility | -2.59 | ||
| Sortino ratioReturn per unit of downside risk | -3.34 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.36 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 4.06 | -5.05 |
| Martin ratioReturn relative to average drawdown | -1.25 | 11.13 | -12.38 |
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Drawdowns
SMCX vs. KORU - Drawdown Comparison
The maximum SMCX drawdown since its inception was -99.28%, 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.
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Drawdown Indicators
| SMCX | KORU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.28% | -95.79% | -3.49% |
Max Drawdown (1Y)Largest decline over 1 year | -95.47% | -80.90% | -14.57% |
Max Drawdown (3Y)Largest decline over 3 years | — | -80.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -92.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -95.79% | — |
Current DrawdownCurrent decline from peak | -99.04% | -74.91% | -24.13% |
Average DrawdownAverage peak-to-trough decline | -88.72% | -57.45% | -31.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 75.95% | 29.49% | +46.46% |
Volatility
SMCX vs. KORU - Volatility Comparison
The current volatility for Defiance Daily Target 2X Long SMCI ETF (SMCX) is 54.24%, while Direxion Daily MSCI South Korea Bull 3X Shares (KORU) has a volatility of 65.03%. 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.
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Volatility by Period
| SMCX | KORU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 54.24% | 65.03% | -10.79% |
Volatility (6M)Calculated over the trailing 6-month period | 183.86% | 154.04% | +29.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 178.45% | 159.66% | +18.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 204.25% | 96.62% | +107.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 204.25% | 85.86% | +118.39% |
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 13.23%, more than KORU's 0.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KORU Direxion Daily MSCI South Korea Bull 3X Shares | 0.50% | 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 | 13.23% | 4.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMCX and KORU have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KORU has higher volatility (65.03%) compared to SMCX (54.24%). In terms of maximum drawdown, SMCX dropped -99.28% vs KORU's -95.79%.
On 1-year performance, KORU leads with 326.36% vs -93.66% for SMCX. On fees, SMCX is cheaper at 1.29% per year. On volatility, SMCX has been the lower-risk option at 54.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KORU has performed better with a 326.36% return vs -93.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMCX is cheaper with a 1.29% expense ratio, compared with 1.32% for KORU.
SMCX has the higher dividend yield at 13.23%, compared with 0.50% for 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.
KORU currently has the higher Sharpe Ratio (2.06 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.
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