Defiance Daily Target 2X Short SMCI ETF (SMCZ) Performance
SMCZ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −94.7% since Dec 31, 2025
- 1 year
- −88.8% total return
- Since first price
- −97.9% since 2025
SMCZ trailing returns vs SPY, QQQ, AGG
| Period | SMCZ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +34.3% | +34.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −51.1% | −51.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −89.6% | −89.6% | +7.8% | +8.4% | −1.5% |
| YTD | −94.7% | −94.7% | +12.3% | +15.1% | −1.0% |
| 1 year | −88.8% | −89.0% | +14.4% | +15.9% | −1.1% |
| Since inceptionApr 1, 2025 | −97.9% | −98.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SMCZ vs SPY
From Apr 1, 2025: SMCZ grew to $207, SPY to $13,772.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SMCZ returns by calendar year
2026 is year to date.
SMCZ annual returns table
| Year | SMCZ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −94.7% | −96.9% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SMCZ largest drawdowns
Now 98.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 4, 2025 | −99.0% | Oct 7, 2026 | not yet | 1.5 years | 1.6 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SMCZ risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −94.3% |
| Volatility (annualized) | 170.5% |
| Sharpe ratio | -0.71 |
| Sortino ratio | -1.01 |
| Best month | +104.1% |
| Worst month | −77.0% |
| Best 12 months | −70.6% |
| Worst 12 months | −92.7% |
| Positive months | 29% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SMCZ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 7 | −92.7% | −86.5% | −70.6% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
SMCZ performance overview
Defiance Daily Target 2X Short SMCI ETF (SMCZ) returned −88.8% over the past year, with distributions reinvested. Since its first recorded price on Apr 1, 2025 it has returned −97.9%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.0%, from Apr 4, 2025 to Oct 7, 2026; the fund has not yet regained that high. Volatility has been 170.5% a year.
Related: SMCZ chart, SMCZ dividends. See the SMCZ overview for the latest quote and fund facts.
SMCZ performance FAQ
What is the SMCZ return over the past year?
SMCZ returned −88.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 89.0%.
How much would $10,000 invested in SMCZ be worth?
$10,000 invested in SMCZ at its first recorded close on April 1, 2025 would be worth about $207 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of SMCZ?
The largest peak-to-trough decline was −99.0% between April 4, 2025 and October 7, 2026. It has not yet recovered to that high; it is 98.4% below its peak.
How volatile is SMCZ?
Over the past history SMCZ had an annualized volatility of 170.5% and a Sharpe ratio of -0.71 (excess return over 1–3 month T-bills per unit of risk).