NMB vs SMST

Comparison between Simplify National Muni Bond ETF (NMB, ETF) and DEFIANCE DAILY TARGET 2X SHORT MSTR ETF (SMST, ETF).

NMB vs SMST - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NMB(ETF)	SMST(ETF)
Net Assets	$49M	$49M
Expense Ratio	0.52%	N/A
Max Drawdown	15.60%	99.25%
Sharpe Ratio	0.59	1.43
5Y Beta	0.34	-4.81

Net Assets

NMB

$49M

SMST

$49M

Expense Ratio

NMB

0.52%

SMST

N/A

Max Drawdown

Winner

NMB

15.60%

SMST

99.25%

Sharpe Ratio

NMB

0.59

Winner

SMST

1.43

5Y Beta

NMB

0.34

Winner

SMST

-4.81

NMB vs SMST - Historical Returns

Returns include dividend reinvestment.

Period	NMB	SMST
1 month	-0.70%	-6.64%
3 months	+1.35%	+55.36%
6 months	+1.62%	-27.40%
1 year	+7.43%	+166.72%
Max(CAGR)	+3.91%	-84.25%

Winner

NMB

-0.70%

SMST

-6.64%

NMB

+1.35%

Winner

SMST

+55.36%

Winner

NMB

+1.62%

SMST

-27.40%

NMB

+7.43%

Winner

SMST

+166.72%

Max(CAGR)

Winner

NMB

+3.91%

SMST

-84.25%

NMB vs SMST - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	NMB	SMST
2026	+1.24%	-38.26%
2025	+7.48%	-39.90%
2024	-1.90%	-90.90%

NMB vs SMST Drawdown Comparison

The maximum drawdown for NMB was -13.67%, occurring on Apr 8, 2025. Recovery took 104 trading sessions.

The maximum drawdown for SMST was -99.25%, occurring on Jul 16, 2025. This drawdown has not yet recovered.

The current NMB drawdown is -1.42%. The current SMST drawdown is -97.74%.

Rank	NMB	SMST
#1	-13.67% Dec 9, 2024 - May 12, 2025	-99.25% Sep 6, 2024 - Jul 16, 2025
#2	-7.26% May 13, 2025 - Oct 13, 2025	-18.07% Aug 22, 2024 - Sep 3, 2024
#3	-5.50% Oct 28, 2025 - Mar 24, 2026	-3.13% Sep 3, 2024 - Sep 5, 2024
#4	-3.24% Oct 1, 2024 - Nov 25, 2024	N/A
#5	-0.57% Oct 20, 2025 - Oct 24, 2025	N/A
#6	-0.51% Oct 13, 2025 - Oct 20, 2025	N/A
#7	-0.18% Sep 23, 2024 - Sep 27, 2024	N/A
#8	-0.18% Dec 4, 2024 - Dec 6, 2024	N/A
#9	-0.10% Sep 27, 2024 - Oct 1, 2024	N/A
#10	-0.09% Sep 16, 2024 - Sep 19, 2024	N/A