SMSTDefiance Daily Target 2X Short MSTR ETF
Seeks daily inverse investment results of 200% of the daily performance of the Underlying Security.
By Defiance ETFs LLC · Launched 2024
1.31%
#5,345 of 5,562 · expensive
$31M
#4,022 of 5,562 · small
+85.2%
1 year
#3,751 of 5,562 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 6 holdings = 46.0% of fundmoderately concentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- NASDAQ Global Select Market
Full fund details
- Objective
- Seeks daily inverse investment results of 200% of the daily performance of the Underlying Security.
- Strategy
- Employs derivatives, including swap agreements and listed options, to achieve 2x inverse exposure to the daily percentage change of the Underlying Security. Actively managed to target daily performance.
- Inception date
- August 20, 2024
- Fund family
- Defiance ETFs LLC
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Leveraged single-stock ETF — documented structural drag
Single-stock leveraged ETFs magnify one stock's daily move. Research on these products (Bessembinder et al., 2024) finds 56% posted negative absolute returns over one year, with ~9.5% annual drag versus the underlying stock. Daily rebalancing plus financing costs work against the investor on any holding period longer than a few days.
Source: Bessembinder, Cooper, Zhang — 'Leveraged Single-Stock ETFs' (SSRN 2024)
Why we flagged this: strategy=inverse + single_stock_wrapper
Inverse ETF — daily tool only
Delivers the inverse of the benchmark's daily return. The compounding path makes multi-day holding unpredictable even when the benchmark's total move goes your way. Legitimate as a one-day hedge; dangerous as a view.
Source: Cheng & Madhavan (2009)
Why we flagged this: strategy=inverse + inverse_name_or_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-06-19