SMZ vs. MSDD
SMZ (Tradr 2X Short SMR Daily ETF) and MSDD (GraniteShares 2x Short MSTR Daily ETF) are both Inverse Equities funds. SMZ is passively managed, while MSDD is actively managed. A 0.53 correlation means they provide meaningful diversification when combined. SMZ charges 1.49%/yr vs 1.50%/yr for MSDD.
Performance
SMZ vs. MSDD - Performance Comparison
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Returns By Period
SMZ
- 1D
- -0.22%
- 1M
- -6.34%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSDD
- 1D
- 0.00%
- 1M
- 0.04%
- 6M
- -43.28%
- YTD
- -48.72%
- 1Y
- 151.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMZ vs. MSDD - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
SMZ Tradr 2X Short SMR Daily ETF | 4.34% |
MSDD GraniteShares 2x Short MSTR Daily ETF | -35.03% |
Correlation
The correlation between SMZ and MSDD 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 Feb 11, 2026 | 0.53 |
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Return for Risk
SMZ vs. MSDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short SMR Daily ETF (SMZ) and GraniteShares 2x Short MSTR Daily ETF (MSDD). 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.
| SMZ | MSDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.92 | — |
| Martin ratioReturn relative to average drawdown | — | 1.81 | — |
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Drawdowns
SMZ vs. MSDD - Drawdown Comparison
The maximum SMZ drawdown since its inception was -77.30%, smaller than the maximum MSDD drawdown of -84.91%. Use the drawdown chart below to compare losses from any high point for SMZ and MSDD.
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Drawdown Indicators
| SMZ | MSDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.30% | -84.91% | +7.61% |
Max Drawdown (1Y)Largest decline over 1 year | — | -84.91% | — |
Current DrawdownCurrent decline from peak | -59.15% | -68.63% | +9.48% |
Average DrawdownAverage peak-to-trough decline | -38.88% | -31.40% | -7.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 43.10% | — |
Volatility
SMZ vs. MSDD - Volatility Comparison
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Volatility by Period
| SMZ | MSDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 32.11% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 124.37% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 187.85% | 140.94% | +46.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 187.85% | 138.59% | +49.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 187.85% | 138.59% | +49.26% |
SMZ vs. MSDD - Expense Ratio Comparison
SMZ has a 1.49% expense ratio, which is lower than MSDD's 1.50% expense ratio.
Dividends
SMZ vs. MSDD - Dividend Comparison
Neither SMZ nor MSDD has paid dividends to shareholders.
Frequently Asked Questions
SMZ and MSDD 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.
On fees, SMZ is cheaper at 1.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMZ is cheaper with a 1.49% expense ratio, compared with 1.50% for MSDD.
SMZ and MSDD have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Tradr and GraniteShares. Their fees differ too: 1.49% for SMZ and 1.50% for MSDD.
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