SMCZ vs. ZIVB

Last updated Jun 24, 2026

SMCZ (Defiance Daily Target 2X Short SMCI ETF) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both Inverse Equities funds. Both are actively managed. At a correlation of -0.08, they often move in opposite directions. SMCZ charges 1.29%/yr vs 1.35%/yr for ZIVB.

Performance

SMCZ vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short SMCI ETF (SMCZ) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMCZ

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

ZIVB

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMCZ vs. ZIVB - Yearly Performance Comparison

	2026 (YTD)
SMCZ Defiance Daily Target 2X Short SMCI ETF	-25.59%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	33.28%

Correlation

The correlation between SMCZ and ZIVB is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	-0.08

Return for Risk

SMCZ vs. ZIVB — 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

ZIVB

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. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short SMCI ETF (SMCZ) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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	ZIVB	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. ZIVB - Drawdown Comparison

The maximum SMCZ drawdown since its inception was -97.40%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SMCZ and ZIVB.

Drawdown Indicators

	SMCZ	ZIVB	Difference
Max Drawdown Largest peak-to-trough decline	-97.40%	0.00%	-97.40%
Max Drawdown (1Y) Largest decline over 1 year	-91.49%	—	—
Current Drawdown Current decline from peak	-96.36%	0.00%	-96.36%
Average Drawdown Average peak-to-trough decline	-76.32%	0.00%	-76.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.98%	—	—

Volatility

Volatility by Period

	SMCZ	ZIVB	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%	112.57%	+60.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	174.65%	112.57%	+62.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	174.65%	112.57%	+62.08%

SMCZ vs. ZIVB - Expense Ratio Comparison

SMCZ has a 1.29% expense ratio, which is lower than ZIVB's 1.35% expense ratio.

Dividends

SMCZ vs. ZIVB - Dividend Comparison

SMCZ's dividend yield for the trailing twelve months is around 16.31%, more than ZIVB's 2.37% yield.

Position	TTM	2025
SMCZ Defiance Daily Target 2X Short SMCI ETF	16.31%	2.03%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	2.37%	0.00%

Frequently Asked Questions

Can I hold both SMCZ and ZIVB in my portfolio?

SMCZ and ZIVB have a correlation of -0.08, 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 ZIVB?

On fees, SMCZ is cheaper at 1.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMCZ or ZIVB?

SMCZ is cheaper with a 1.29% expense ratio, compared with 1.35% for ZIVB.

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

SMCZ has the higher dividend yield at 16.31%, compared with 2.37% for ZIVB.

What is the main difference between SMCZ and ZIVB?

They also come from different issuers: Defiance and Volatility Shares. Their fees differ too: 1.29% for SMCZ and 1.35% for ZIVB.