SMCX vs. XMAG

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance Daily Target 2X Long SMCI ETF (SMCX) and Defiance Large Cap ex-Mag 7 ETF (XMAG).

SMCX and XMAG 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. XMAG is a passively managed fund by Defiance that tracks the performance of the BITA US 500 ex Magnificent 7 Index. It was launched on Oct 21, 2024.

Performance

SMCX vs. XMAG - 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 Large Cap ex-Mag 7 ETF (XMAG). The values are adjusted to include any dividend payments, if applicable.

SMCX vs. XMAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMCX Defiance Daily Target 2X Long SMCI ETF	-62.54%	-69.78%	-78.39%
XMAG Defiance Large Cap ex-Mag 7 ETF	-1.56%	15.63%	-1.67%

Returns By Period

In the year-to-date period, SMCX achieves a -62.54% return, which is significantly lower than XMAG's -1.56% return.

SMCX

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

XMAG

• 1D: 2.57%
• 1M: -4.91%
• YTD: -1.56%
• 6M: 0.82%
• 1Y: 13.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMCX vs. XMAG - Expense Ratio Comparison

SMCX has a 1.29% expense ratio, which is higher than XMAG's 0.35% expense ratio.

SMCX

Defiance Daily Target 2X Long SMCI ETF

XMAG

Defiance Large Cap ex-Mag 7 ETF

Return for Risk

SMCX vs. XMAG — 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

XMAG

XMAG Risk / Return Rank: 54
XMAG Sharpe Ratio Rank: 48
XMAG Sortino Ratio Rank: 49
XMAG Omega Ratio Rank: 51
XMAG Calmar Ratio Rank: 55
XMAG Martin Ratio Rank: 67

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. XMAG - 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 Large Cap ex-Mag 7 ETF (XMAG). 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	XMAG	Difference
Sharpe ratio Return per unit of total volatility	-0.55	0.82	-1.37
Sortino ratio Return per unit of downside risk	-0.46	1.25	-1.71
Omega ratio Gain probability vs. loss probability	0.94	1.18	-0.24
Calmar ratio Return relative to maximum drawdown	-0.91	1.29	-2.20
Martin ratio Return relative to average drawdown	-1.50	6.26	-7.77
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. XMAG - Sharpe Ratio Comparison

The current SMCX Sharpe Ratio is -0.55, which is lower than the XMAG Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of SMCX and XMAG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMCX	XMAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	0.82	-1.37
Sharpe Ratio (All Time) Calculated using the full available price history	-0.47	0.53	-1.00

Correlation

The correlation between SMCX and XMAG is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SMCX vs. XMAG - Dividend Comparison

SMCX's dividend yield for the trailing twelve months is around 11.71%, more than XMAG's 0.52% yield.

	TTM	2025	2024
SMCX Defiance Daily Target 2X Long SMCI ETF	11.71%	4.39%	0.00%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.52%	0.51%	0.24%

Drawdowns

SMCX vs. XMAG - Drawdown Comparison

The maximum SMCX drawdown since its inception was -99.02%, which is greater than XMAG's maximum drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for SMCX and XMAG.

Drawdown Indicators

	SMCX	XMAG	Difference
Max Drawdown Largest peak-to-trough decline	-99.02%	-16.17%	-82.85%
Max Drawdown (1Y) Largest decline over 1 year	-94.75%	-11.21%	-83.54%
Current Drawdown Current decline from peak	-98.85%	-4.91%	-93.94%
Average Drawdown Average peak-to-trough decline	-86.10%	-2.30%	-83.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	57.36%	2.31%	+55.05%

Volatility

SMCX vs. XMAG - Volatility Comparison

Defiance Daily Target 2X Long SMCI ETF (SMCX) has a higher volatility of 116.22% compared to Defiance Large Cap ex-Mag 7 ETF (XMAG) at 4.64%. This indicates that SMCX's price experiences larger fluctuations and is considered to be riskier than XMAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCX	XMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	116.22%	4.64%	+111.58%
Volatility (6M) Calculated over the trailing 6-month period	144.49%	8.70%	+135.79%
Volatility (1Y) Calculated over the trailing 1-year period	158.15%	16.35%	+141.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	201.19%	15.48%	+185.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	201.19%	15.48%	+185.71%