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SMCX

GradeCNASDAQ Global Market

Daily Target 2X Long SMCI ETF

Leveraged · Single-Stock Leveraged · Defiance · Inception 2024-08-21

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$14.03−0.11 (−0.78%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Aug 21, 2024.
Intraday session: down, 59 prints from 14.14 to 14.03. Range 13.98 to 14.78. Use the arrow keys to read each point.$14.20$14.40$14.60$14.8010 AM12 PM2 PM4 PM
Expense ratio
1.32%
Fund size
$160M
1Y return
−18.2%
Yield · Last 12 months
Data unavailable
Holdings
12
Volume · 30D
6.1M sh
NAV per share
$13.94
52W range
low $5.46high $114.44

The ETF.net SMCX Grade

C

50/ 100

Rank 79 of 380 in Single-Stock Long Leveraged⁠

Confidence Medium

Six-pillar profile for SMCX. Scores out of 100: Cost 27, Risk 46, Mission not scored, Tradability 90, Holdings not scored, Durability 81. Strongest: Tradability (90). Weakest: Cost (27). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 50 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 27
    Category rank283/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 46
    Category rank156/285 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 90
    Category rank17/380 · top 4%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 81
    Category rank17/380 · top 4%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on SMCX

ETF.net Research

CA one-stock amplifier: SMCX aims to deliver 200% of Super Micro's daily move in a plain brokerage ticker. No margin account, no options chain, just a very sharp instrument on a very jumpy stock.

Stated mandate

The fund seeks daily leveraged investment results equal to 200% of the daily percentage change in Super Micro Computer, Inc.'s share price.

Why people hold it

  1. 01Does one thing clearly: targets 200% of SMCI's daily percentage change, so the exposure you signed up for is spelled out in the prospectus, not implied.defianceetfs.com
  2. 02Leverage without the plumbing. No margin agreement, no options approval, no borrow to arrange, and losses are capped at what you put in.defianceetfs.com
  3. 03One of the more actively traded names in the single-stock leveraged crowd, which matters when you are trading a product designed to be held in short stretches.
  4. 04Live since 2024, it has run through some violent stretches in Super Micro's share price, so the wrapper has been stress-tested in the wild.

Worth knowing

  1. 01The leverage resets daily. Hold longer than a day and choppy markets can pull results away from 2x the stock's move over that period, sometimes sharply.
  2. 02Costs more than the pack: 1.43% a year, against 0.96% at Direxion's GGLL and 0.75% at Leverage Shares funds like UNHG and AMDG.
  3. 03One stock, doubled. There is no diversification here, and Super Micro has been among the more turbulent large caps in the AI hardware trade.

SMCX Holdings

As of Sep 20, 2026, 5:08 AM
Asset class
Other
Holdings
12
Top-10 weight
226%
Largest holding
SUPER MICRO COMPUTER INC SWAP MS34.0%

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SUPER MICRO COMPUTER INC SWAP MS33.99%1,257,000$49M1
002—SUPER MICRO COMPUTER INC SWAP NBC-L28.60%1,057,725$41M1
003—SUPER MICRO COMPUTER INC NOMURA26.96%997,013$39M1
004—United States Treasury Bill 11/19/202625.96%37,770,000$38M48
005—SUPER MICRO COMPUTER SWAP JNST-L25.35%937,598$37M1
006—SUPER MICRO COMPUTER INC SWAP MAR - L25.00%924,703$36M1
007—SUPER MICRO COMPUTER INC COM SWAP CS - L23.67%875,239$34M1
008—SUPER MICRO COMPUTER INC COM SWAP CAN - L22.78%842,351$33M1
009—SUPER MICRO COMPUTER INC SWAP BMO13.60%503,070$20M1
010—First American Government Obligations Fund 12/01/20310.42%609,450$609K625
011—BNY Dreyfus Government Cash Management 12/31/2031<0.01%205$20524

Showing 1–11 of 11 holdings

SMCX Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

SMCX$8,184
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. SMCX $8,184. SPY $11,723. Use the arrow keys to read each point.$2,123$10,525$18,928Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SMCX. Periods over one year show the average yearly return.
PeriodSMCX
Year to date+24.0%
1 month+16.0%
3 months+5.9%
1 year−18.2%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SMCX
YearReturn barSMCX
2026 YTD+24.0%
2025−37.0%
2024−82.5%

Since listing, Aug 21, 2024

SMCX in the news

ETF.net Research hasn’t filed on SMCX yet — coverage lands here as it’s written.

SMCX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$1.00 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $1.00. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$1.00

SMCX Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
179.2%
Annualised · 24 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.28
vs 3-month T-bills · 24 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−96.8%
25 months · trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
7.96
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

SMCX Cost

Expense ratio1.32%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

250 of the 329 Single-Stock Long Leveraged funds charge less.

SMCX costs $132.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.