SMCZ vs SPY
Defiance Daily Target 2X Short SMCI ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SMCZ or SPY?
Opposite sides of the same exposure.
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two move opposite each other, correlation -0.52, so holding both offsets the exposure while paying both fees.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SMCZ | SPY |
|---|---|---|
| Expense Ratio | 1.55% | 0.09%Best |
| AUM | $4M | $811.2B |
| Dividend Yield | 37.25% | 0.98% |
| Holdings | 14 | 1,515 |
| YTD Return | -95.95% | +14.30%Best |
| 1Y Return | -91.10% | +16.61%Best |
| 3Y Return (annualized) | - | +23.23% |
| 5Y Return (annualized) | - | +13.85% |
| Volatility (annualized) | 165.4% | 11.8%Best |
| Max Drawdown | -99.0% | -12.1%Best |
| $10,000 over 1.5 years | $143 | $14,006Best |
| Fund Family | Defiance ETFs, LLC | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Mar 31, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Apr 1, 2025 to Oct 5, 2026 (1.5 years).
SMCZ vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.5 years both funds cover.
SMCZ vs SPY Performance
Defiance Daily Target 2X Short SMCI ETF (SMCZ) is an ETF from Defiance ETFs, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SMCZ returned -91.10% while SPY returned +16.61%. Year to date, SMCZ is down 95.95% versus a gain of 14.30% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMCZ has been the more volatile fund, with annualized monthly volatility of 165.4% compared with 11.8% 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 -99.0% for SMCZ and -12.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.52. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
SMCZ charges 1.55% per year while SPY charges 0.09%. On a $10,000 position that is $155 vs $9 annually, a gap of $146 per year that compounds over a long holding period. On income, SMCZ currently yields 37.25% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 1 holding in SMCZ and 504 in SPY, totalling 9.8% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in SMCZ and 504 in SPY, against full books of 14 and 1,515.
You are not choosing between two funds in isolation.
Whichever of SMCZ and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SMCZ or SPY?
SMCZ has an expense ratio of 1.55% while SPY charges 0.09%. SPY is the cheaper option, by $146 a year on a $10,000 investment.
Which performed better, SMCZ or SPY?
Over the past year SMCZ returned -91.10% vs +16.61% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SMCZ annualized -94.10% vs +25.18% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SMCZ or SPY?
SMCZ has been the more volatile fund at 165.4% annualized versus 11.8% for SPY. Worst drawdown: SMCZ -99.0% vs SPY -12.1%.
Should I hold both SMCZ and SPY?
SMCZ and SPY have a monthly-return correlation of -0.52, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
Which pays a higher dividend, SMCZ or SPY?
SMCZ yields 37.25% while SPY yields 0.98%, so SMCZ currently pays the higher dividend yield.
Is SPY better than SMCZ?
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two move opposite each other, correlation -0.52, so holding both offsets the exposure while paying both fees. Which one suits a particular account depends on what it is for. This is information, not a recommendation.