SMCZ vs. JEDI
SMCZ (Defiance Daily Target 2X Short SMCI ETF) and JEDI (Defiance Drone and Modern Warfare ETF) are both exchange-traded funds - SMCZ is a Inverse Equities fund actively managed by Defiance, while JEDI is a Aerospace & Defense fund tracking the BITA Drone & Modern Warfare Select Index. SMCZ is actively managed, while JEDI is passively managed. Their -0.47 correlation means they have often moved in opposite directions in the past. SMCZ charges 1.29%/yr vs 0.69%/yr for JEDI.
Performance
SMCZ vs. JEDI - 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 JEDI's 4.94% return.
SMCZ
- 1D
- -1.52%
- 1M
- -31.27%
- 6M
- -85.93%
- YTD
- -87.76%
- 1Y
- -73.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -89.95%
JEDI
- 1D
- 6.52%
- 1M
- -11.38%
- 6M
- -5.91%
- YTD
- 4.94%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.72M | $3.86M | $7.29M | |
| $23.07M | $12.69M | $14.60M |
SMCZ vs. JEDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMCZ Defiance Daily Target 2X Short SMCI ETF | -87.76% | 72.55% |
JEDI Defiance Drone and Modern Warfare ETF | 4.94% | -3.42% |
Correlation
The correlation between SMCZ and JEDI is -0.47, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025 | -0.47 |
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Return for Risk
SMCZ vs. JEDI — Risk / Return Rank
SMCZ
JEDI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SMCZ vs. JEDI - 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 Drone and Modern Warfare ETF (JEDI). 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 | JEDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.03 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | — | — |
| Martin ratioReturn relative to average drawdown | -1.47 | — | — |
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Drawdowns
SMCZ vs. JEDI - Drawdown Comparison
The maximum SMCZ drawdown since its inception was -97.40%, which is greater than JEDI's maximum drawdown of -48.21%. Use the drawdown chart below to compare losses from any high point for SMCZ and JEDI.
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Drawdown Indicators
| SMCZ | JEDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.40% | -48.21% | -49.19% |
Max Drawdown (1Y)Largest decline over 1 year | -91.49% | — | — |
Current DrawdownCurrent decline from peak | -96.42% | -39.96% | -56.46% |
Average DrawdownAverage peak-to-trough decline | -77.91% | -14.06% | -63.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.58% | — | — |
Volatility
SMCZ vs. JEDI - Volatility Comparison
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Volatility by Period
| SMCZ | JEDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 65.84% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 160.74% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 178.69% | 53.81% | +124.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 175.68% | 53.81% | +121.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 175.68% | 53.81% | +121.87% |
SMCZ vs. JEDI - Expense Ratio Comparison
SMCZ has a 1.29% expense ratio, which is higher than JEDI's 0.69% expense ratio.
Dividends
SMCZ vs. JEDI - Dividend Comparison
SMCZ's dividend yield for the trailing twelve months is around 16.59%, while JEDI has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
JEDI Defiance Drone and Modern Warfare ETF | 0.00% | 0.00% |
SMCZ Defiance Daily Target 2X Short SMCI ETF | 16.59% | 2.03% |
Frequently Asked Questions
SMCZ and JEDI have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JEDI is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JEDI is cheaper with a 0.69% expense ratio, compared with 1.29% for SMCZ.
SMCZ has the higher dividend yield at 16.59%, compared with 0.00% for JEDI.
SMCZ is categorized as Inverse Equities, while JEDI is Aerospace & Defense. Their fees differ too: 1.29% for SMCZ and 0.69% for JEDI.
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