SMZ vs. SVIX

Last updated Jun 6, 2026

SMZ (Tradr 2X Short SMR Daily ETF) and SVIX (Volatility Shares -1x Short VIX Futures ETF) are both Inverse Equities funds. At a correlation of -0.46, they often move in opposite directions. SMZ charges 1.49%/yr vs 1.47%/yr for SVIX.

Performance

SMZ vs. SVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short SMR Daily ETF (SMZ) and Volatility Shares -1x Short VIX Futures ETF (SVIX). 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*: —

SVIX

• 1D: -6.75%
• 1M: 10.30%
• YTD: -11.60%
• 6M: 1.32%
• 1Y: 48.34%
• 3Y*: -4.33%
• 5Y*: —
• 10Y*: —

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

SMZ vs. SVIX - Yearly Performance Comparison

	2026 (YTD)
SMZ Tradr 2X Short SMR Daily ETF	-13.39%
SVIX Volatility Shares -1x Short VIX Futures ETF	-5.47%

Correlation

The correlation between SMZ and SVIX is -0.46, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 12, 2026	-0.46

Return for Risk

SMZ vs. SVIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SVIX

SVIX Risk / Return Rank: 26
SVIX Sharpe Ratio Rank: 25
SVIX Sortino Ratio Rank: 26
SVIX Omega Ratio Rank: 30
SVIX Calmar Ratio Rank: 24
SVIX Martin Ratio Rank: 25

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. SVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short SMR Daily ETF (SMZ) and Volatility Shares -1x Short VIX Futures ETF (SVIX). 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	SVIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	0.14	-0.33

Drawdowns

SMZ vs. SVIX - Drawdown Comparison

The maximum SMZ drawdown since its inception was -77.30%, roughly equal to the maximum SVIX drawdown of -79.30%. Use the drawdown chart below to compare losses from any high point for SMZ and SVIX.

Drawdown Indicators

	SMZ	SVIX	Difference
Max Drawdown Largest peak-to-trough decline	-77.30%	-79.30%	+2.00%
Max Drawdown (1Y) Largest decline over 1 year	—	-42.69%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-79.30%	—
Current Drawdown Current decline from peak	-62.88%	-57.78%	-5.10%
Average Drawdown Average peak-to-trough decline	-32.15%	-31.64%	-0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	14.78%	—

Volatility

Volatility by Period

	SMZ	SVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	41.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	191.86%	55.23%	+136.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	191.86%	66.31%	+125.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	191.86%	66.31%	+125.55%

SMZ vs. SVIX - Expense Ratio Comparison

SMZ has a 1.49% expense ratio, which is higher than SVIX's 1.47% expense ratio.

Dividends

SMZ vs. SVIX - Dividend Comparison

Neither SMZ nor SVIX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SMZ and SVIX in my portfolio?

SMZ and SVIX have a correlation of -0.46, 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 SVIX?

On fees, SVIX is cheaper at 1.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMZ or SVIX?

SVIX is cheaper with a 1.47% expense ratio, compared with 1.49% for SMZ.

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

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

What is the main difference between SMZ and SVIX?

They also come from different issuers: Tradr and Volatility Shares. Their fees differ too: 1.49% for SMZ and 1.47% for SVIX.