SMZ vs. ZIVB

Last updated Aug 1, 2026

SMZ (Tradr 2X Short SMR Daily ETF) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both Inverse Equities funds. SMZ is passively managed, while ZIVB is actively managed. Their -0.11 correlation means they have often moved in opposite directions in the past. SMZ charges 1.49%/yr vs 1.35%/yr for ZIVB.

Performance

SMZ vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short SMR Daily ETF (SMZ) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMZ

• 1D: 4.06%
• 1M: 7.24%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

ZIVB

• 1D: 0.00%
• 1M: 2.42%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SMZ Tradr 2X Short SMR Daily ETF	$795.18K	$775.91K	$1.24M
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	$0.00	$0.00	$0.00

SMZ vs. ZIVB - Yearly Performance Comparison

	2026 (YTD)
SMZ Tradr 2X Short SMR Daily ETF	21.51%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	36.51%

Correlation

The correlation between SMZ and ZIVB is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	-0.11

Return for Risk

SMZ vs. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short SMR Daily ETF (SMZ) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

SMZ vs. ZIVB - Drawdown Comparison

The maximum SMZ drawdown since its inception was -77.30%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SMZ and ZIVB.

Drawdown Indicators

	SMZ	ZIVB	Difference
Max Drawdown Largest peak-to-trough decline	-77.30%	0.00%	-77.30%
Current Drawdown Current decline from peak	-61.42%	0.00%	-61.42%
Average Drawdown Average peak-to-trough decline	-40.92%	0.00%	-40.92%

Volatility

Volatility by Period

	SMZ	ZIVB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	188.99%	71.49%	+117.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	188.99%	71.49%	+117.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	188.99%	71.49%	+117.50%

SMZ vs. ZIVB - Expense Ratio Comparison

SMZ has a 1.49% expense ratio, which is higher than ZIVB's 1.35% expense ratio.

Dividends

SMZ vs. ZIVB - Dividend Comparison

SMZ has not paid dividends to shareholders, while ZIVB's dividend yield for the trailing twelve months is around 4.73%.

Position	TTM
SMZ Tradr 2X Short SMR Daily ETF	0.00%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	4.73%

Frequently Asked Questions

Can I hold both SMZ and ZIVB in my portfolio?

SMZ and ZIVB have a correlation of -0.11, 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 ZIVB?

On fees, ZIVB is cheaper at 1.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMZ or ZIVB?

ZIVB is cheaper with a 1.35% expense ratio, compared with 1.49% for SMZ.

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

ZIVB has the higher dividend yield at 4.73%, compared with 0.00% for SMZ.

What is the main difference between SMZ and ZIVB?

They also come from different issuers: Tradr and Volatility Shares. Their fees differ too: 1.49% for SMZ and 1.35% for ZIVB.