SMCL vs ULTI

Comparison between GRANITESHARES 2X LONG SMCI DAILY ETF (SMCL, ETF) and REX IncomeMax Option Strategy ETF (ULTI, ETF).

SMCL vs ULTI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SMCL(ETF)	ULTI(ETF)
Net Assets	$39M	$39M
Expense Ratio	N/A	1.32%
Max Drawdown	97.46%	69.65%
Sharpe Ratio	-0.24	-1.26
5Y Beta	4.79	2.65
P/E Ratio	N/A	-66.98
Forward P/E	N/A	31.24
Debt to Equity	N/A	61.64%
P/S Ratio	N/A	4.51
P/B Ratio	N/A	5.22

Net Assets

SMCL

$39M

ULTI

$39M

Expense Ratio

SMCL

N/A

ULTI

1.32%

Max Drawdown

SMCL

97.46%

Winner

ULTI

69.65%

Sharpe Ratio

Winner

SMCL

-0.24

ULTI

-1.26

5Y Beta

SMCL

4.79

Winner

ULTI

2.65

P/E Ratio

SMCL

N/A

ULTI

-66.98

Forward P/E

SMCL

N/A

ULTI

31.24

Debt to Equity

SMCL

N/A

ULTI

61.64%

P/S Ratio

SMCL

N/A

ULTI

4.51

P/B Ratio

SMCL

N/A

ULTI

5.22

SMCL vs ULTI - Historical Returns

Returns include dividend reinvestment.

Period	SMCL	ULTI
1 month	-19.30%	-29.87%
3 months	-13.47%	-31.72%
6 months	-61.82%	-33.42%
1 year	-90.12%	N/A
Max(CAGR)	-79.22%	-59.39%

Winner

SMCL

-19.30%

ULTI

-29.87%

Winner

SMCL

-13.47%

ULTI

-31.72%

SMCL

-61.82%

Winner

ULTI

-33.42%

SMCL

-90.12%

ULTI

N/A

Max(CAGR)

SMCL

-79.22%

Winner

ULTI

-59.39%

SMCL vs ULTI - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	SMCL	ULTI
2026	-61.29%	-20.49%
2025	-68.56%	-38.16%
2024	-39.26%	N/A

SMCL vs ULTI Drawdown Comparison

The maximum drawdown for SMCL was -97.46%, occurring on Jul 20, 2026. This drawdown has not yet recovered.

The maximum drawdown for ULTI was -47.99%, occurring on Jul 23, 2026. This drawdown has not yet recovered.

The current SMCL drawdown is -95.78%. The current ULTI drawdown is -47.99%.

Rank	SMCL	ULTI
#1	-97.46% Feb 19, 2025 - Jul 20, 2026	-47.99% Oct 31, 2025 - Jul 23, 2026
#2	-57.20% Dec 12, 2024 - Feb 10, 2025	N/A
#3	-19.33% Feb 10, 2025 - Feb 14, 2025	N/A