SMZ vs. FLYD

Last updated Jun 6, 2026

SMZ (Tradr 2X Short SMR Daily ETF) and FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) are both Inverse Equities funds - SMZ tracks the NuScale Power Corporation (SMR) while FLYD tracks the MerQube MicroSectors U.S. Travel Index. Both are passively managed. At a 0.47 correlation, their price movements are largely independent. SMZ charges 1.49%/yr vs 0.95%/yr for FLYD.

Performance

SMZ vs. FLYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short SMR Daily ETF (SMZ) and MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMZ

• 1D: 22.81%
• 1M: 29.65%
• YTD: —
• 6M: —
• 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)

SMZ vs. FLYD - Yearly Performance Comparison

	2026 (YTD)
SMZ Tradr 2X Short SMR Daily ETF	-13.39%
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	-18.23%

Correlation

The correlation between SMZ and FLYD is 0.47, 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 Feb 12, 2026	0.47

Return for Risk

SMZ 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.

SMZ vs. FLYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short SMR Daily ETF (SMZ) 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

	SMZ	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	-0.19	-0.74	+0.55

Drawdowns

SMZ vs. FLYD - Drawdown Comparison

The maximum SMZ drawdown since its inception was -77.30%, smaller than the maximum FLYD drawdown of -98.11%. Use the drawdown chart below to compare losses from any high point for SMZ and FLYD.

Drawdown Indicators

	SMZ	FLYD	Difference
Max Drawdown Largest peak-to-trough decline	-77.30%	-98.11%	+20.81%
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	-62.88%	-97.94%	+35.06%
Average Drawdown Average peak-to-trough decline	-32.15%	-83.15%	+51.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	37.34%	—

Volatility

Volatility by Period

	SMZ	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	191.86%	74.52%	+117.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	191.86%	83.64%	+108.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	191.86%	83.64%	+108.22%

SMZ vs. FLYD - Expense Ratio Comparison

SMZ has a 1.49% expense ratio, which is higher than FLYD's 0.95% expense ratio.

Dividends

SMZ vs. FLYD - Dividend Comparison

Neither SMZ nor FLYD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SMZ and FLYD in my portfolio?

SMZ and FLYD have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMZ 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, SMZ or FLYD?

FLYD is cheaper with a 0.95% expense ratio, compared with 1.49% for SMZ.

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

SMZ and FLYD have nearly identical dividend yields, around 0.00%.

What is the main difference between SMZ and FLYD?

SMZ tracks NuScale Power Corporation (SMR), while FLYD tracks MerQube MicroSectors U.S. Travel Index. They also come from different issuers: Tradr and REX. Their fees differ too: 1.49% for SMZ and 0.95% for FLYD.