SMCX vs SPY
Defiance Daily Target 2X Long SMCI ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SMCX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.43% | 0.09% | |
| AUM | $261M | $821.1B | |
| Dividend Yield | 6.61% | 1.01% | |
| Holdings | 12 | 505 | |
| YTD Return | -53.86% | +12.22% | |
| 1Y Return | -81.19% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 181.8% | 15.3% | |
| Max Drawdown | -99.2% | -56.5% | |
| Fund Family | Defiance ETFs, LLC | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Aug 21, 2024 | Jan 22, 1993 |
SMCX vs SPY Performance
Defiance Daily Target 2X Long SMCI ETF (SMCX) is a ETF from Defiance ETFs, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SMCX returned -81.19% while SPY returned +20.83%. Year to date, SMCX is down 53.86% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SMCX has been the more volatile fund, with annualized monthly volatility of 181.8% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -99.2% for SMCX and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SMCX charges 1.43% per year while SPY charges 0.09%. On a $10,000 position that is $143 vs $9 annually, a gap of $134 per year that compounds over a long holding period. On income, SMCX currently yields 6.61% against 1.01% for SPY.
Holdings Overlap
SMCX and SPY share 1 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SMCX | Weight in SPY | Difference |
|---|---|---|---|
| SMCI | 26.74% | 0.03% | 26.71% |
Frequently Asked Questions
Which is cheaper, SMCX or SPY?
SMCX has an expense ratio of 1.43% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $134 per year of difference.
Which performed better, SMCX or SPY?
Over the past year SMCX returned -81.19% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SMCX annualized -87.37% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, SMCX or SPY?
SMCX has been the more volatile fund at 181.8% annualized versus 15.3% for SPY. Worst drawdown: SMCX -99.2% vs SPY -56.5%.
Should I hold both SMCX and SPY?
SMCX and SPY have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SMCX and SPY?
SMCX and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, SMCX or SPY?
SMCX yields 6.61% while SPY yields 1.01%, so SMCX currently pays the higher dividend yield.
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