SMUP vs. NBIG

Last updated Jun 5, 2026

SMUP (T-REX 2X Long SMR Daily Target ETF) and NBIG (Leverage Shares 2X Long NBIS Daily ETF) are both Leveraged Equities funds. Both are actively managed. A 0.53 correlation means they provide meaningful diversification when combined. SMUP charges 1.50%/yr vs 0.75%/yr for NBIG.

Performance

SMUP vs. NBIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Long SMR Daily Target ETF (SMUP) and Leverage Shares 2X Long NBIS Daily ETF (NBIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMUP achieves a -56.52% return, which is significantly lower than NBIG's 487.61% return.

SMUP

• 1D: -5.76%
• 1M: -7.99%
• YTD: -56.52%
• 6M: -84.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NBIG

• 1D: 6.23%
• 1M: 96.57%
• YTD: 487.61%
• 6M: 268.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMUP vs. NBIG - Yearly Performance Comparison

	2026 (YTD)	2025
SMUP T-REX 2X Long SMR Daily Target ETF	-56.52%	-89.66%
NBIG Leverage Shares 2X Long NBIS Daily ETF	487.61%	-62.34%

Correlation

The correlation between SMUP and NBIG is 0.53, 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 Oct 28, 2025	0.53

Return for Risk

SMUP vs. NBIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long SMR Daily Target ETF (SMUP) and Leverage Shares 2X Long NBIS Daily ETF (NBIG). 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

	SMUP	NBIG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.49	1.38	-1.87

Drawdowns

SMUP vs. NBIG - Drawdown Comparison

The maximum SMUP drawdown since its inception was -98.64%, which is greater than NBIG's maximum drawdown of -75.83%. Use the drawdown chart below to compare losses from any high point for SMUP and NBIG.

Drawdown Indicators

	SMUP	NBIG	Difference
Max Drawdown Largest peak-to-trough decline	-98.64%	-75.83%	-22.81%
Current Drawdown Current decline from peak	-98.14%	-3.94%	-94.20%
Average Drawdown Average peak-to-trough decline	-79.25%	-42.82%	-36.43%

Volatility

Volatility by Period

	SMUP	NBIG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	203.27%	200.64%	+2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	203.27%	200.64%	+2.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	203.27%	200.64%	+2.63%

SMUP vs. NBIG - Expense Ratio Comparison

SMUP has a 1.50% expense ratio, which is higher than NBIG's 0.75% expense ratio.

Dividends

SMUP vs. NBIG - Dividend Comparison

SMUP's dividend yield for the trailing twelve months is around 51.96%, while NBIG has not paid dividends to shareholders.

Position	TTM	2025
NBIG Leverage Shares 2X Long NBIS Daily ETF	0.00%	0.00%
SMUP T-REX 2X Long SMR Daily Target ETF	51.96%	22.59%

Frequently Asked Questions

Can I hold both SMUP and NBIG in my portfolio?

SMUP and NBIG have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMUP or NBIG?

On fees, NBIG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMUP or NBIG?

NBIG is cheaper with a 0.75% expense ratio, compared with 1.50% for SMUP.

Which ETF pays a higher dividend yield, SMUP or NBIG?

SMUP has the higher dividend yield at 51.96%, compared with 0.00% for NBIG.

What is the main difference between SMUP and NBIG?

They also come from different issuers: T-Rex and Leverage Shares. Their fees differ too: 1.50% for SMUP and 0.75% for NBIG.