Daily Target 2X Short SMCI ETF
CThis 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.
$4.85+0.19 (+4.08%)
- 1.55%
- $0M
- −90.3%
- 1.8M sh
- $4.30
- low $3.66high $133.40
The ETF.net SMCZ Grade
C
Score 40 out of 100
- 31 of 58
Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 42
- This cap took
- −2
- Published Score
- 40
Cost
The fund’s net expense ratio, ranked against its category.F14 out of 100Rank 50 of 58Mission
Whether the fund did what it promised, tested against its stated mandate.A88 out of 100Rank 24 of 32Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D36 out of 100Rank 37 of 52Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D26 out of 100Rank 51 of 58Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D33 out of 100Rank 42 of 58
Our read on SMCZ
CSuper Micro trades like a rumor mill with a stock ticker attached. SMCZ is the pure bear side of that: a fund built to return negative 200% of SMCI's move each trading day, with no margin account and no share borrow needed.
The Fund seeks daily inverse results equal to negative 200% of the daily percentage move in Super Micro Computer, Inc.'s common stock.
Why people hold it
- Delivers -2x daily SMCI exposure inside an ordinary brokerage account: no margin agreement, no locating shares to borrow, and losses are limited to what you put in.globenewswire.com
- The machinery works: day to day, the fund has stayed close to its stated -200% daily target, which is the whole job of a leveraged product.
- The 1.29% expense ratio lands right at the median for leveraged single-stock bear funds. You pay the going rate, not a premium.
Worth knowing
- The -200% target resets every day. Hold past the close and compounding takes over, so a choppy stretch can leave results well off twice SMCI's inverse move for the period.defianceetfs.com
- One stock, one direction, double speed. Every earnings report, filing headline and AI order rumor at Super Micro hits this fund magnified, with nothing else in the portfolio to soften it.
- A 2025 launch and a small asset base put it among the lighter funds in its group, which matters for spreads and for how long a niche product stays on the shelf.
SMCZ Holdings
- Other
- 2
- 300%
- Cash & Other
SMCZ Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
SMCZ$972
Returns run to the Oct 12, 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.
| Period | SMCZ |
|---|---|
| Year to date | −96.0% |
| 1 month | −11.6% |
| 3 months | −75.1% |
| 1 year | −90.3% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SMCZ |
|---|---|---|
| 2026 YTD | −96.0% | |
| 2025 | −62.9% |
SMCZ in the news
SMCZ Dividends
- $2.36 per share
- Irregular
Distribution data unavailable.
Distribution history
SMCZ 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.
- 165.6%
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.
- −0.75
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.
- −99.0%
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.
- −7.25
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SMCZ Cost
1.55%
SMCZ1.55%
- The middle half of Single-Stock Inverse funds
- Median 1.35%
34 of the 43 Single-Stock Inverse funds charge less.
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