SMCC vs SMCZ: which held to its multiple?
Over three months against its own daily promise, SMCC finished 13.5 points short and SMCZ 1.1 points short. Corgi SMCI 2x Daily ETF and Defiance Daily Target 2X Short SMCI ETF.
SMCC returned +73.4% while 2 times SMCI's move would have been +97.1%
SMCZ returned −76.8% while −2 times SMCI's move would have been −97.1%
SMCC among the 470 leveraged ETFs, long, over three months
SMCZ among the 125 inverse ETFs over three months
A percentile among the 470 leveraged ETFs, long, over three months. SMCZ is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | SMCC | SMCZ | SMCC | SMCZ | SMCC | SMCZ |
| 1 month | +14.1% | −26.9% | +20.3% | −20.3% | −6.3 pts | −6.6 pts |
| 3 months | +73.4% | −76.8% | +97.1% | −97.1% | −23.6 pts | +20.3 pts |
| 6 months | not published | −95.0% | not published | −164.9% | not published | +69.9 pts |
| 1 year | not published | −92.6% | not published | +28.7% | not published | −121.3 pts |
| Since launch SMCC Jun 2026 · SMCZ Apr 2025 | +54.4% | −98.5% | +80.1% | −34.4% | −25.7 pts | −64.1 pts |
SMCC and SMCZ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
SMCC and SMCZ on the same fields, as of Sep 30, 2026. Source: ETFIQ.
SMCC in plain words
Three months to Sep 30, 2026: SMCC returned +73.4% where its own daily promise gave +86.9%, 13.5 points short. Read the multiple against the whole window instead and 2 times SMCI's 48.5% implies +97.1%, which makes SMCC look 23.6 points short. 10.2 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. SMCC aims to return +2 times SMCI'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. SMCI moved at 86% 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.
SMCZ in plain words
Three months to Sep 30, 2026: SMCZ returned −76.8% where its own daily promise gave −75.8%, 1.1 points short. Read the multiple against the whole window instead and −2 times SMCI's 48.5% implies −97.1%, which makes SMCZ look 20.2 points over. 21.3 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. SMCZ aims to return -2 times SMCI'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.
Questions people ask
- Which came closer to its stated multiple, SMCC or SMCZ?
- Over the window to Sep 30, 2026, SMCC finished 23.6 points from what its multiple implies and SMCZ finished 20.2 points from its own, so SMCZ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SMCC and SMCZ levered on the same thing?
- Yes. Both are levered on Super Micro Computer, SMCC at +2 times and SMCZ at -2 times the daily move.
- Which one decays faster, SMCC or SMCZ?
- Decay follows how much the underlying moves about. Over this window SMCC’s moved at 86% annualized and SMCZ’s at 86%, so SMCC has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SMCC or SMCZ 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.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, SMCC against SMCZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/smcc-vs-smcz
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, SMCC against SMCZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/smcc-vs-smcz Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, SMCC against SMCZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/smcc-vs-smcz
- APA
- ETFIQ. (Sep 30, 2026). SMCC against SMCZ. Retrieved from https://etfiq.com/compare/leverage/smcc-vs-smcz
- Markdown
- [SMCC against SMCZ (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/smcc-vs-smcz)