SMQ vs. FLYD

Last updated Jun 6, 2026

SMQ (Tradr 1X Short Innovation 100 Monthly ETF) and FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) are both Inverse Equities funds. SMQ is actively managed, while FLYD is passively managed. A 0.58 correlation means they provide meaningful diversification when combined. SMQ charges 1.50%/yr vs 0.95%/yr for FLYD.

Performance

SMQ vs. FLYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 1X Short Innovation 100 Monthly ETF (SMQ) and MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMQ achieves a -15.77% return, which is significantly lower than FLYD's -10.89% return.

SMQ

• 1D: 4.62%
• 1M: -3.50%
• YTD: -15.77%
• 6M: -14.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLYD

• 1D: 2.48%
• 1M: -1.03%
• YTD: -10.89%
• 6M: -18.12%
• 1Y: -47.47%
• 3Y*: -54.07%
• 5Y*: —
• 10Y*: —

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

SMQ vs. FLYD - Yearly Performance Comparison

	2026 (YTD)	2025
SMQ Tradr 1X Short Innovation 100 Monthly ETF	-15.77%	0.39%
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	-10.89%	-15.76%

Correlation

The correlation between SMQ and FLYD is 0.58, 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 2, 2025	0.58

Return for Risk

SMQ vs. FLYD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLYD

FLYD Risk / Return Rank: 4
FLYD Sharpe Ratio Rank: 4
FLYD Sortino Ratio Rank: 5
FLYD Omega Ratio Rank: 5
FLYD Calmar Ratio Rank: 1
FLYD Martin Ratio Rank: 3

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.

SMQ vs. FLYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 1X Short Innovation 100 Monthly ETF (SMQ) and MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD). 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.

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

Sharpe Ratios by Period

	SMQ	FLYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.47	-0.74	-0.73

Drawdowns

SMQ vs. FLYD - Drawdown Comparison

The maximum SMQ drawdown since its inception was -27.62%, smaller than the maximum FLYD drawdown of -98.11%. Use the drawdown chart below to compare losses from any high point for SMQ and FLYD.

Drawdown Indicators

	SMQ	FLYD	Difference
Max Drawdown Largest peak-to-trough decline	-27.62%	-98.11%	+70.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-54.89%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-93.41%	—
Current Drawdown Current decline from peak	-23.66%	-97.94%	+74.28%
Average Drawdown Average peak-to-trough decline	-7.66%	-83.15%	+75.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	37.34%	—

Volatility

Volatility by Period

	SMQ	FLYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.72%	—
Volatility (6M) Calculated over the trailing 6-month period	—	59.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.18%	74.52%	-55.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.18%	83.64%	-64.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	83.64%	-64.46%

SMQ vs. FLYD - Expense Ratio Comparison

SMQ has a 1.50% expense ratio, which is higher than FLYD's 0.95% expense ratio.

Dividends

SMQ vs. FLYD - Dividend Comparison

SMQ's dividend yield for the trailing twelve months is around 0.29%, while FLYD has not paid dividends to shareholders.

Position	TTM	2025
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	0.00%	0.00%
SMQ Tradr 1X Short Innovation 100 Monthly ETF	0.29%	0.25%

Frequently Asked Questions

Can I hold both SMQ and FLYD in my portfolio?

SMQ and FLYD have a correlation of 0.58, 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 FLYD?

On fees, FLYD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMQ or FLYD?

FLYD is cheaper with a 0.95% expense ratio, compared with 1.50% for SMQ.

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

SMQ has the higher dividend yield at 0.29%, compared with 0.00% for FLYD.

What is the main difference between SMQ and FLYD?

They also come from different issuers: Tradr and REX. Their fees differ too: 1.50% for SMQ and 0.95% for FLYD.