SMU vs. TERG
SMU (Tradr 2X Long SMR Daily ETF) and TERG (Leverage Shares 2X Long TER Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.49 correlation, their price movements are largely independent. SMU charges 1.30%/yr vs 0.75%/yr for TERG.
Performance
SMU vs. TERG - Performance Comparison
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Returns By Period
In the year-to-date period, SMU achieves a -84.70% return, which is significantly lower than TERG's 74.74% return.
SMU
- 1D
- -16.70%
- 1M
- -44.43%
- 6M
- -90.92%
- YTD
- -84.70%
- 1Y
- -99.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TERG
- 1D
- -11.75%
- 1M
- -44.81%
- 6M
- 28.86%
- YTD
- 74.74%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMU vs. TERG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMU Tradr 2X Long SMR Daily ETF | -84.70% | -65.45% |
TERG Leverage Shares 2X Long TER Daily ETF | 74.74% | 20.91% |
Correlation
The correlation between SMU and TERG is 0.49, 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 Nov 17, 2025 | 0.49 |
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Return for Risk
SMU vs. TERG — Risk / Return Rank
SMU
TERG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SMU vs. TERG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long SMR Daily ETF (SMU) and Leverage Shares 2X Long TER Daily ETF (TERG). 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.
| SMU | TERG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.79 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | — | — |
| Martin ratioReturn relative to average drawdown | -1.19 | — | — |
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Drawdowns
SMU vs. TERG - Drawdown Comparison
The maximum SMU drawdown since its inception was -99.35%, which is greater than TERG's maximum drawdown of -58.90%. Use the drawdown chart below to compare losses from any high point for SMU and TERG.
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Drawdown Indicators
| SMU | TERG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.35% | -58.90% | -40.45% |
Max Drawdown (1Y)Largest decline over 1 year | -99.35% | — | — |
Current DrawdownCurrent decline from peak | -99.35% | -58.90% | -40.45% |
Average DrawdownAverage peak-to-trough decline | -78.19% | -16.56% | -61.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 83.46% | — | — |
Volatility
SMU vs. TERG - Volatility Comparison
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Volatility by Period
| SMU | TERG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 44.07% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 132.95% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 199.44% | 154.92% | +44.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 200.29% | 154.92% | +45.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 200.29% | 154.92% | +45.37% |
SMU vs. TERG - Expense Ratio Comparison
SMU has a 1.30% expense ratio, which is higher than TERG's 0.75% expense ratio.
Dividends
SMU vs. TERG - Dividend Comparison
Neither SMU nor TERG has paid dividends to shareholders.
Frequently Asked Questions
SMU and TERG have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TERG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TERG is cheaper with a 0.75% expense ratio, compared with 1.30% for SMU.
SMU and TERG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Tradr and Leverage Shares. Their fees differ too: 1.30% for SMU and 0.75% for TERG.
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