SMST vs. PLTZ
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. Over the past year, SMST returned 112.90% vs -35.88% for PLTZ. At a 0.42 correlation, their price movements are largely independent. Both charge a 1.29% expense ratio.
Performance
SMST vs. PLTZ - Performance Comparison
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Returns By Period
In the year-to-date period, SMST achieves a -32.44% return, which is significantly lower than PLTZ's 48.68% return.
SMST
- 1D
- 9.85%
- 1M
- 101.03%
- YTD
- -32.44%
- 6M
- -27.49%
- 1Y
- 112.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PLTZ
- 1D
- 4.41%
- 1M
- 22.41%
- YTD
- 48.68%
- 6M
- 76.10%
- 1Y
- -35.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMST vs. PLTZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMST Defiance Daily Target 2X Short MSTR ETF | -32.44% | 212.67% |
PLTZ Defiance Daily Target 2X Short PLTR ETF | 48.68% | -67.07% |
Correlation
The correlation between SMST and PLTZ is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025 | 0.42 |
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Return for Risk
SMST vs. PLTZ — Risk / Return Rank
SMST
PLTZ
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.
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.
| SMST | PLTZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.01 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | -0.53 | +1.86 |
| Martin ratioReturn relative to average drawdown | 2.63 | -0.70 | +3.34 |
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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 -72.51%. Use the drawdown chart below to compare losses from any high point for SMST and PLTZ.
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Drawdown Indicators
| SMST | PLTZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.25% | -72.51% | -26.74% |
Max Drawdown (1Y)Largest decline over 1 year | -85.39% | -67.51% | -17.88% |
Current DrawdownCurrent decline from peak | -97.35% | -51.04% | -46.31% |
Average DrawdownAverage peak-to-trough decline | -90.72% | -55.64% | -35.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.37% | 51.01% | -7.64% |
Volatility
SMST vs. PLTZ - Volatility Comparison
Defiance Daily Target 2X Short MSTR ETF (SMST) has a higher volatility of 42.53% compared to Defiance Daily Target 2X Short PLTR ETF (PLTZ) at 39.87%. This indicates that SMST's price experiences larger fluctuations and is considered to be riskier than PLTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMST | PLTZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 42.53% | 39.87% | +2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 128.39% | 76.47% | +51.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 144.30% | 102.92% | +41.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 166.48% | 101.96% | +64.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 166.48% | 101.96% | +64.52% |
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.
Frequently Asked Questions
SMST and PLTZ have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMST has higher volatility (42.53%) compared to PLTZ (39.87%). In terms of maximum drawdown, SMST dropped -99.25% vs PLTZ's -72.51%.
On 1-year performance, SMST leads with 112.90% vs -35.88% for PLTZ. Both ETFs have the same 1.29% expense ratio. On volatility, PLTZ has been the lower-risk option at 39.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SMST has performed better with a 112.90% return vs -35.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMST and PLTZ have the same expense ratio: 1.29% per year.
SMST and PLTZ have nearly identical dividend yields, around 0.00%.
SMST currently has the higher Sharpe Ratio (0.79 vs -0.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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