SMCZ vs. IXN
SMCZ (Defiance Daily Target 2X Short SMCI ETF) and IXN (iShares Global Tech ETF) are both exchange-traded funds - SMCZ is a Inverse Equities fund actively managed by Defiance, while IXN is a Technology Equities fund tracking the S&P Global Information Technology Sector Index. SMCZ is actively managed, while IXN is passively managed. Over the past year, SMCZ returned -73.11% vs 44.46% for IXN. Their -0.65 correlation means they have often moved in opposite directions in the past. SMCZ charges 1.29%/yr vs 0.46%/yr for IXN.
Performance
SMCZ vs. IXN - Performance Comparison
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Returns By Period
In the year-to-date period, SMCZ achieves a -87.76% return, which is significantly lower than IXN's 28.22% return.
SMCZ
- 1D
- -1.52%
- 1M
- -31.27%
- 6M
- -85.93%
- YTD
- -87.76%
- 1Y
- -73.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -89.95%
IXN
- 1D
- 1.35%
- 1M
- -1.49%
- 6M
- 24.80%
- YTD
- 28.22%
- 1Y
- 44.46%
- 3Y*
- 31.25%
- 5Y*
- 18.78%
- 10Y*
- 23.38%
- ALL TIME*
- 12.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $55.51M | $57.12M | $67.51M | |
| $23.07M | $12.69M | $14.60M |
SMCZ vs. IXN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMCZ Defiance Daily Target 2X Short SMCI ETF | -87.76% | -62.31% |
IXN iShares Global Tech ETF | 28.22% | 40.15% |
Correlation
The correlation between SMCZ and IXN is -0.64, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.64 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025 | -0.65 |
The correlation between SMCZ and IXN has been stable across timeframes, ranging from -0.65 to -0.64 - a consistent structural relationship.
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Return for Risk
SMCZ vs. IXN — Risk / Return Rank
SMCZ
IXN
SMCZ vs. IXN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short SMCI ETF (SMCZ) and iShares Global Tech ETF (IXN). 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 | IXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.28 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 2.78 | -3.58 |
| Martin ratioReturn relative to average drawdown | -1.47 | 8.46 | -9.93 |
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Drawdowns
SMCZ vs. IXN - Drawdown Comparison
The maximum SMCZ drawdown since its inception was -97.40%, which is greater than IXN's maximum drawdown of -55.67%. Use the drawdown chart below to compare losses from any high point for SMCZ and IXN.
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Drawdown Indicators
| SMCZ | IXN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.40% | -55.67% | -41.73% |
Max Drawdown (1Y)Largest decline over 1 year | -91.49% | -16.09% | -75.40% |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.30% | — |
Current DrawdownCurrent decline from peak | -96.42% | -10.09% | -86.33% |
Average DrawdownAverage peak-to-trough decline | -77.91% | -11.24% | -66.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.58% | 5.27% | +44.31% |
Volatility
SMCZ vs. IXN - Volatility Comparison
Defiance Daily Target 2X Short SMCI ETF (SMCZ) has a higher volatility of 65.84% compared to iShares Global Tech ETF (IXN) at 10.22%. This indicates that SMCZ's price experiences larger fluctuations and is considered to be riskier than IXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMCZ | IXN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 65.84% | 10.22% | +55.62% |
Volatility (6M)Calculated over the trailing 6-month period | 160.74% | 23.73% | +137.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 178.69% | 27.42% | +151.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 175.68% | 25.90% | +149.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 175.68% | 24.89% | +150.79% |
SMCZ vs. IXN - Expense Ratio Comparison
SMCZ has a 1.29% expense ratio, which is higher than IXN's 0.46% expense ratio.
Dividends
SMCZ vs. IXN - Dividend Comparison
SMCZ's dividend yield for the trailing twelve months is around 16.59%, more than IXN's 0.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IXN iShares Global Tech ETF | 0.81% | 1.04% | 0.43% | 0.55% | 0.81% | 0.58% | 0.63% | 1.06% | 0.94% | 0.93% | 1.03% | 1.12% |
SMCZ Defiance Daily Target 2X Short SMCI ETF | 16.59% | 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 IXN have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMCZ has higher volatility (65.84%) compared to IXN (10.22%). In terms of maximum drawdown, SMCZ dropped -97.40% vs IXN's -55.67%.
On 1-year performance, IXN leads with 44.46% vs -73.11% for SMCZ. On fees, IXN is cheaper at 0.46% per year. On volatility, IXN has been the lower-risk option at 10.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IXN has performed better with a 44.46% return vs -73.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IXN is cheaper with a 0.46% expense ratio, compared with 1.29% for SMCZ.
SMCZ has the higher dividend yield at 16.59%, compared with 0.81% for IXN.
SMCZ is categorized as Inverse Equities, while IXN is Technology Equities. They also come from different issuers: Defiance and iShares. Their fees differ too: 1.29% for SMCZ and 0.46% for IXN.
IXN currently has the higher Sharpe Ratio (1.63 vs -0.41), 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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