SMCZ vs. FTEC
SMCZ (Defiance Daily Target 2X Short SMCI ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - SMCZ is a Inverse Equities fund actively managed by Defiance, while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. SMCZ is actively managed, while FTEC is passively managed. Over the past year, SMCZ returned -87.72% vs 47.58% for FTEC. At a correlation of -0.65, they often move in opposite directions. SMCZ charges 1.29%/yr vs 0.08%/yr for FTEC.
Performance
SMCZ vs. FTEC - Performance Comparison
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Returns By Period
In the year-to-date period, SMCZ achieves a -87.55% return, which is significantly lower than FTEC's 23.56% return.
SMCZ
- 1D
- 12.25%
- 1M
- -36.38%
- YTD
- -87.55%
- 6M
- -86.35%
- 1Y
- -87.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FTEC
- 1D
- -3.70%
- 1M
- 0.35%
- YTD
- 23.56%
- 6M
- 21.69%
- 1Y
- 47.58%
- 3Y*
- 30.58%
- 5Y*
- 19.77%
- 10Y*
- 25.28%
SMCZ vs. FTEC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMCZ Defiance Daily Target 2X Short SMCI ETF | -87.55% | -62.31% |
FTEC Fidelity MSCI Information Technology Index ETF | 23.56% | 39.80% |
Correlation
The correlation between SMCZ and FTEC is -0.65, 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 | -0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025 | -0.65 |
The correlation between SMCZ and FTEC has been stable across timeframes, ranging from -0.65 to -0.65 - a consistent structural relationship.
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Return for Risk
SMCZ vs. FTEC — Risk / Return Rank
SMCZ
FTEC
SMCZ vs. FTEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short SMCI ETF (SMCZ) and Fidelity MSCI Information Technology Index ETF (FTEC). 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 | FTEC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.15 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.35 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 2.94 | -3.90 |
| Martin ratioReturn relative to average drawdown | -1.95 | 9.03 | -10.98 |
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Drawdowns
SMCZ vs. FTEC - Drawdown Comparison
The maximum SMCZ drawdown since its inception was -97.40%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for SMCZ and FTEC.
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Drawdown Indicators
| SMCZ | FTEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.40% | -34.95% | -62.45% |
Max Drawdown (1Y)Largest decline over 1 year | -91.49% | -16.26% | -75.23% |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.30% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.95% | — |
Current DrawdownCurrent decline from peak | -96.36% | -7.72% | -88.64% |
Average DrawdownAverage peak-to-trough decline | -76.32% | -5.57% | -70.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.98% | 5.28% | +41.70% |
Volatility
SMCZ vs. FTEC - Volatility Comparison
Defiance Daily Target 2X Short SMCI ETF (SMCZ) has a higher volatility of 85.47% compared to Fidelity MSCI Information Technology Index ETF (FTEC) at 11.42%. This indicates that SMCZ's price experiences larger fluctuations and is considered to be riskier than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMCZ | FTEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 85.47% | 11.42% | +74.05% |
Volatility (6M)Calculated over the trailing 6-month period | 149.88% | 18.65% | +131.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 173.51% | 22.79% | +150.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 174.65% | 25.60% | +149.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 174.65% | 24.86% | +149.79% |
SMCZ vs. FTEC - Expense Ratio Comparison
SMCZ has a 1.29% expense ratio, which is higher than FTEC's 0.08% expense ratio.
Dividends
SMCZ vs. FTEC - Dividend Comparison
SMCZ's dividend yield for the trailing twelve months is around 16.31%, more than FTEC's 0.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTEC Fidelity MSCI Information Technology Index ETF | 0.36% | 0.43% | 0.49% | 0.77% | 0.93% | 0.63% | 0.83% | 1.03% | 1.20% | 0.96% | 1.25% | 1.27% |
SMCZ Defiance Daily Target 2X Short SMCI ETF | 16.31% | 2.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMCZ and FTEC have a correlation of -0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMCZ has higher volatility (85.47%) compared to FTEC (11.42%). In terms of maximum drawdown, SMCZ dropped -97.40% vs FTEC's -34.95%.
On 1-year performance, FTEC leads with 47.58% vs -87.72% for SMCZ. On fees, FTEC is cheaper at 0.08% per year. On volatility, FTEC has been the lower-risk option at 11.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FTEC has performed better with a 47.58% return vs -87.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTEC is cheaper with a 0.08% expense ratio, compared with 1.29% for SMCZ.
SMCZ has the higher dividend yield at 16.31%, compared with 0.36% for FTEC.
SMCZ is categorized as Inverse Equities, while FTEC is Technology Equities. They also come from different issuers: Defiance and Fidelity. Their fees differ too: 1.29% for SMCZ and 0.08% for FTEC.
FTEC currently has the higher Sharpe Ratio (2.10 vs -0.51), 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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