Which came closer to its stated multiple, SMRX or SMZ?

Over the window to Sep 11, 2026, SMRX finished 5.9 points from what its multiple implies and SMZ finished 59.9 points from its own, so SMRX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are SMRX and SMZ levered on the same thing?

Yes. Both are levered on SMR, SMRX at +2 times and SMZ at -2 times the daily move.

Which one decays faster, SMRX or SMZ?

Decay follows how much the underlying moves about. Over this window SMRX’s moved at 101% annualized and SMZ’s at 93%, so SMRX has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold SMRX or SMZ for a year?

Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

ETFIQetfiq.com · independent ETF data

Data as of Sep 11, 2026.

SMRX vs SMZ: which held to its multiple?

Over a month against its own daily promise, SMRX finished 0.1 points short and SMZ 0.3 points short.

Corgi SMR 2x Daily ETF and Tradr 2X Short SMR Daily ETF, side by side, leveraged ETFs on ETFIQ.

−24.2%SMRX returned, 3 months

−34.0%SMZ returned, 3 months

−14.7 ptsSMRX from its stated multiple

−59.9 ptsSMZ from its stated multiple

SMRX5.9 pts short of its label · 1 month to Sep 11, 2026

SMZ59.9 pts short of its label · 3 months to Sep 11, 2026

Performance, window by window

SMRX and SMZ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ.
Window	Total return		Multiple would give		Difference
Window	SMRX	SMZ	SMRX	SMZ	SMRX	SMZ
1 month	−26.4%	−4.7%	−20.4%	+20.4%	−5.9 pts	−25.1 pts
3 months	not published	−34.0%	not published	+25.9%	not published	−59.9 pts
6 months	not published	−60.5%	not published	+54.1%	not published	−114.5 pts
Since launch	−24.2%	−38.8%	−9.5%	+89.4%	−14.7 pts	−128.2 pts

Open the live comparison on ETFIQ

SMRX and SMZ on the same fields, as of Sep 11, 2026. Source: ETFIQ.
	SMRX Corgi SMR 2x Daily ETF Aims to return twice the daily move of SMR	SMZ Tradr 2X Short SMR Daily ETF Aims to return twice the opposite of the daily move of SMR
Issuer	Corgi	Tradr
Sets out to return	+2x	-2x
On	SMR	SMR
Segment	company	company
Fund returned, 3 months	−26.4%	−34.0%
Underlying returned, 3 months	−10.2%	−12.9%
What the stated multiple implies, 3 months	−20.4%	+25.9%
Difference from stated, 3 months	−5.9 pts	−59.9 pts
Fund returned, 1 year or since launch	−24.2%	−38.8%
Difference from stated, over that window	−14.7 pts	−128.2 pts
Underlying volatility	101%	93%
Difference over the days both have traded	−5.9 pts	no shared window
Expense ratio	not published	1.49%
Launched	Jul 10, 2026	Feb 11, 2026

SMRX in plain words

One month to Sep 11, 2026: SMRX returned −26.4% where its own daily promise gave −26.3%, 0.1 points short. Read the multiple against the whole window instead and +2 times SMR's −10.2% implies −20.4%, which makes SMRX look 5.9 points short. 5.8 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. SMRX aims to return +2 times SMR's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. SMR moved at 101% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

SMZ in plain words

Three months to Sep 11, 2026: SMZ returned −34.0% where its own daily promise gave −31.5%, 2.5 points short. Read the multiple against the whole window instead and −2 times SMR's −12.9% implies +25.9%, which makes SMZ look 59.9 points short. 57.4 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. SMZ aims to return -2 times SMR's move each day, then resets. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. SMR moved at 93% annualized over that window.

Questions people ask

Which came closer to its stated multiple, SMRX or SMZ?: Over the window to Sep 11, 2026, SMRX finished 5.9 points from what its multiple implies and SMZ finished 59.9 points from its own, so SMRX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are SMRX and SMZ levered on the same thing?: Yes. Both are levered on SMR, SMRX at +2 times and SMZ at -2 times the daily move.
Which one decays faster, SMRX or SMZ?: Decay follows how much the underlying moves about. Over this window SMRX’s moved at 101% annualized and SMZ’s at 93%, so SMRX has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold SMRX or SMZ for a year?: Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Other comparisons

Where these figures came from

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

SMRX against SMZ, ETFIQ, data as of Sep 11, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. A comparison is not a recommendation.

Cite this page. ETFIQ, SMRX against SMZ, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/SMRX-SMZ Free to use with attribution; the underlying files are at Open data.

How every figure is computed · Standards and sources