SMQ vs. BMNZ

Last updated Jun 26, 2026

SMQ (Tradr 1X Short Innovation 100 Monthly ETF) and BMNZ (Defiance Daily Target 2X Short BMNR ETF) are both Inverse Equities funds. SMQ is actively managed, while BMNZ is passively managed. A 0.51 correlation means they provide meaningful diversification when combined. SMQ charges 1.50%/yr vs 1.31%/yr for BMNZ.

Performance

SMQ vs. BMNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 1X Short Innovation 100 Monthly ETF (SMQ) and Defiance Daily Target 2X Short BMNR ETF (BMNZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMQ achieves a -15.29% return, which is significantly lower than BMNZ's 29.97% return.

SMQ

• 1D: 0.00%
• 1M: 3.71%
• YTD: -15.29%
• 6M: -13.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNZ

• 1D: 9.79%
• 1M: 76.32%
• YTD: 29.97%
• 6M: 50.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMQ vs. BMNZ - Yearly Performance Comparison

	2026 (YTD)	2025
SMQ Tradr 1X Short Innovation 100 Monthly ETF	-15.29%	0.13%
BMNZ Defiance Daily Target 2X Short BMNR ETF	29.97%	10.24%

Correlation

The correlation between SMQ and BMNZ is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 1, 2025	0.51

Return for Risk

SMQ vs. BMNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 1X Short Innovation 100 Monthly ETF (SMQ) and Defiance Daily Target 2X Short BMNR ETF (BMNZ). 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.

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

Drawdowns

SMQ vs. BMNZ - Drawdown Comparison

The maximum SMQ drawdown since its inception was -27.62%, smaller than the maximum BMNZ drawdown of -70.80%. Use the drawdown chart below to compare losses from any high point for SMQ and BMNZ.

Drawdown Indicators

	SMQ	BMNZ	Difference
Max Drawdown Largest peak-to-trough decline	-27.62%	-70.80%	+43.18%
Current Drawdown Current decline from peak	-23.22%	-27.23%	+4.01%
Average Drawdown Average peak-to-trough decline	-8.95%	-50.65%	+41.70%

Volatility

Volatility by Period

	SMQ	BMNZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	18.29%	187.04%	-168.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.29%	187.04%	-168.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.29%	187.04%	-168.75%

SMQ vs. BMNZ - Expense Ratio Comparison

SMQ has a 1.50% expense ratio, which is higher than BMNZ's 1.31% expense ratio.

Dividends

SMQ vs. BMNZ - Dividend Comparison

SMQ's dividend yield for the trailing twelve months is around 8.90%, while BMNZ has not paid dividends to shareholders.

Position	TTM	2025
BMNZ Defiance Daily Target 2X Short BMNR ETF	0.00%	0.00%
SMQ Tradr 1X Short Innovation 100 Monthly ETF	8.90%	0.25%

Frequently Asked Questions

Can I hold both SMQ and BMNZ in my portfolio?

SMQ and BMNZ have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMQ or BMNZ?

On fees, BMNZ is cheaper at 1.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMQ or BMNZ?

BMNZ is cheaper with a 1.31% expense ratio, compared with 1.50% for SMQ.

Which ETF pays a higher dividend yield, SMQ or BMNZ?

SMQ has the higher dividend yield at 8.90%, compared with 0.00% for BMNZ.

What is the main difference between SMQ and BMNZ?

They also come from different issuers: Tradr and Defiance. Their fees differ too: 1.50% for SMQ and 1.31% for BMNZ.