SMST vs. PLTZ

Last updated Jun 3, 2026

SMST (Defiance Daily Target 2X Short MSTR ETF) and PLTZ (Defiance Daily Target 2X Short PLTR ETF) are both Inverse Equities funds from Defiance. Both are actively managed. At a 0.39 correlation, their price movements are largely independent. Both charge a 1.29% expense ratio.

Performance

SMST vs. PLTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short MSTR ETF (SMST) and Defiance Daily Target 2X Short PLTR ETF (PLTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMST achieves a -55.68% return, which is significantly lower than PLTZ's 4.28% return.

SMST

• 1D: 17.75%
• 1M: 49.84%
• YTD: -55.68%
• 6M: -41.65%
• 1Y: 40.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PLTZ

• 1D: 13.03%
• 1M: -4.65%
• YTD: 4.28%
• 6M: -1.19%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMST vs. PLTZ - Yearly Performance Comparison

	2026 (YTD)	2025
SMST Defiance Daily Target 2X Short MSTR ETF	-55.68%	222.78%
PLTZ Defiance Daily Target 2X Short PLTR ETF	4.28%	-64.39%

Correlation

The correlation between SMST and PLTZ is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 9, 2025	0.39

Return for Risk

SMST vs. PLTZ — Risk / Return Rank

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

SMST

SMST Risk / Return Rank: 18
SMST Sharpe Ratio Rank: 13
SMST Sortino Ratio Rank: 25
SMST Omega Ratio Rank: 26
SMST Calmar Ratio Rank: 14
SMST Martin Ratio Rank: 13

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.

SMST vs. PLTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short MSTR ETF (SMST) and Defiance Daily Target 2X Short PLTR ETF (PLTZ). 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.

	SMST	PLTZ	Difference
Sharpe ratio Return per unit of total volatility	0.29	—	—
Sortino ratio Return per unit of downside risk	1.40	—	—
Omega ratio Gain probability vs. loss probability	1.18	—	—
Calmar ratio Return relative to maximum drawdown	0.44	—	—
Martin ratio Return relative to average drawdown	0.93	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SMST	PLTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.53	-0.62	+0.09

Drawdowns

SMST vs. PLTZ - Drawdown Comparison

The maximum SMST drawdown since its inception was -99.25%, which is greater than PLTZ's maximum drawdown of -70.28%. Use the drawdown chart below to compare losses from any high point for SMST and PLTZ.

Drawdown Indicators

	SMST	PLTZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.25%	-70.28%	-28.97%
Max Drawdown (1Y) Largest decline over 1 year	-85.39%	—	—
Current Drawdown Current decline from peak	-98.26%	-62.87%	-35.39%
Average Drawdown Average peak-to-trough decline	-90.65%	-52.02%	-38.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.51%	—	—

Volatility

Volatility by Period

	SMST	PLTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	37.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	125.90%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	140.31%	101.99%	+38.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	166.64%	101.99%	+64.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	166.64%	101.99%	+64.65%

SMST vs. PLTZ - Expense Ratio Comparison

Both SMST and PLTZ have an expense ratio of 1.29%.

Dividends

SMST vs. PLTZ - Dividend Comparison

Neither SMST nor PLTZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SMST and PLTZ in my portfolio?

SMST and PLTZ have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMST or PLTZ?

Both ETFs have the same 1.29% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMST or PLTZ?

SMST and PLTZ have the same expense ratio: 1.29% per year.

Which ETF pays a higher dividend yield, SMST or PLTZ?

SMST and PLTZ have nearly identical dividend yields, around 0.00%.