SMCZ vs. AIPO

Last updated Jun 24, 2026

SMCZ (Defiance Daily Target 2X Short SMCI ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - SMCZ is a Inverse Equities fund actively managed by Defiance, while AIPO is a Building & Construction fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. SMCZ is actively managed, while AIPO is passively managed. At a correlation of -0.57, they often move in opposite directions. SMCZ charges 1.29%/yr vs 0.69%/yr for AIPO.

Performance

SMCZ vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short SMCI ETF (SMCZ) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMCZ achieves a -87.55% return, which is significantly lower than AIPO's 49.55% return.

SMCZ

• 1D: 12.25%
• 1M: -36.38%
• YTD: -87.55%
• 6M: -86.35%
• 1Y: -87.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIPO

• 1D: -4.86%
• 1M: 2.22%
• YTD: 49.55%
• 6M: 45.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMCZ vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
SMCZ Defiance Daily Target 2X Short SMCI ETF	-87.55%	78.94%
AIPO Defiance AI & Power Infrastructure ETF	49.55%	9.46%

Correlation

The correlation between SMCZ and AIPO is -0.57, 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 (All Time) Calculated using the full available price history since Jul 25, 2025	-0.57

Return for Risk

SMCZ vs. AIPO — Risk / Return Rank

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

SMCZ

SMCZ Risk / Return Rank: 3
SMCZ Sharpe Ratio Rank: 5
SMCZ Sortino Ratio Rank: 5
SMCZ Omega Ratio Rank: 5
SMCZ Calmar Ratio Rank: 1
SMCZ Martin Ratio Rank: 0

AIPO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SMCZ vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short SMCI ETF (SMCZ) and Defiance AI & Power Infrastructure ETF (AIPO). 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.

	SMCZ	AIPO	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	—	—
Sortino ratio: Return per unit of downside risk	-0.52	—	—
Omega ratio: Gain probability vs. loss probability	0.93	—	—
Calmar ratio: Return relative to maximum drawdown	-0.96	—	—
Martin ratio: Return relative to average drawdown	-1.95	—	—

Drawdowns

SMCZ vs. AIPO - Drawdown Comparison

The maximum SMCZ drawdown since its inception was -97.40%, which is greater than AIPO's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for SMCZ and AIPO.

Drawdown Indicators

	SMCZ	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-97.40%	-17.31%	-80.09%
Max Drawdown (1Y) Largest decline over 1 year	-91.49%	—	—
Current Drawdown Current decline from peak	-96.36%	-4.86%	-91.50%
Average Drawdown Average peak-to-trough decline	-76.32%	-4.44%	-71.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.98%	—	—

Volatility

Volatility by Period

	SMCZ	AIPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	85.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	149.88%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	173.51%	35.59%	+137.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	174.65%	35.59%	+139.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	174.65%	35.59%	+139.06%

SMCZ vs. AIPO - Expense Ratio Comparison

SMCZ has a 1.29% expense ratio, which is higher than AIPO's 0.69% expense ratio.

Dividends

SMCZ vs. AIPO - Dividend Comparison

SMCZ's dividend yield for the trailing twelve months is around 16.31%, more than AIPO's 0.01% yield.

Position	TTM	2025
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%
SMCZ Defiance Daily Target 2X Short SMCI ETF	16.31%	2.03%

Frequently Asked Questions

Can I hold both SMCZ and AIPO in my portfolio?

SMCZ and AIPO have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMCZ or AIPO?

On fees, AIPO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMCZ or AIPO?

AIPO is cheaper with a 0.69% expense ratio, compared with 1.29% for SMCZ.

Which ETF pays a higher dividend yield, SMCZ or AIPO?

SMCZ has the higher dividend yield at 16.31%, compared with 0.01% for AIPO.

What is the main difference between SMCZ and AIPO?

SMCZ is categorized as Inverse Equities, while AIPO is Building & Construction. Their fees differ too: 1.29% for SMCZ and 0.69% for AIPO.