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Defiance Daily Target 2X Short MSTR ETF - USD
SMST performance and flow charts
Performance
Flows
Historic performance and flows
Data as of September 23, 2026| 1M | 3M | YTD | 1Y | 3Y | 5Y | |
|---|---|---|---|---|---|---|
| Perf. | -60.39% | -80.80% | -87.03% | -58.66% | ||
| Flows | +$46M | +$40M | +$39M | +$15M | - | - |
Characteristics
The Defiance Daily Target 2X Short MSTR ETF - USD is built to track the MSTR Price - USD. This ETF provides synthetic exposure - by owning its shares you earn the return of the index indirectly through the use of derivatives or a swap. This share class generates a stream of income by distributing dividends.
| Management strategy | Passive |
| Strategy | Inverse |
| Provider | Defiance ETFs |
| N° of holdings | |
| Replication method | Indirect |
| Asset class | Equity |
| Dividend policy | Distributing |
Trailing 12m distribution yield | Join for free |
| Inception date | August 21, 2024 |
| ESG | No |
More data and info about SMST on Trackinsight
SMST's exposure
This ETF provides synthetic exposure. It does not hold the securities of the index directly so we cannot display its exposure breakdown.
Trading data
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Volatility | +186.35% | +164.65% | ||
Max drawdown | -88.13% | -92.48% | ||
Max drawdown duration | 87d | 230d | N/A | N/A |
Time to recover | N/A | N/A | N/A | N/A |
Replication quality
Data as of September 24, 2026Create an account to view replication metrics
1 year cumulative return difference | |
|---|---|
| Best | Join for free |
| Worst | Join for free |
| daily return difference | |
|---|---|
| Average | Join for free |
| Worst | Join for free |
What type of ETF is SMST?
SMST is a Passive ETF that provides exposure to Equity assets. It is managed by Defiance ETFs.
What index does SMST track?
SMST tracks the MSTR Price - USD, aiming to replicate its performance through unfunded swap.
What does SMST invest in?
This ETF provides inverse exposure (-2x) to Equities. It is part of the segment: Inverse Equity.
What is the expense ratio of SMST?
The total expense ratio (TER) of SMST is 1.38%, representing the annual fee charged by the fund manager.
When was SMST launched?
SMST was launched on August 21, 2024, marking its entry into the ETF market.
Who is the issuer of SMST?
SMST is issued by Defiance ETFs.
What is the AUM of SMST?
As of September 23, 2026, SMST manages $40.18 M, reflecting the total assets held in the fund.
How has SMST performed recently?
As of September 23, 2026, SMST delivered a return of -60.39% over the past month (1M performance), -80.8% over the past three months (3M), and -87.03% year-to-date (YTD).
What are the recent fund flows for SMST?
As of September 23, 2026, SMST has seen net flows of +$46M in the past month (1M flow) and +$39M year-to-date (YTD).
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