SMST vs NMB

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

SMST vs NMB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

SMST

$49M

NMB

$49M

Expense Ratio

SMST

N/A

NMB

0.52%

Max Drawdown

SMST

99.25%

Winner

NMB

15.60%

Sharpe Ratio

Winner

SMST

1.43

NMB

0.59

5Y Beta

Winner

SMST

-4.81

NMB

0.34

SMST vs NMB - Historical Returns

Returns include dividend reinvestment.

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

SMST

-6.64%

Winner

NMB

-0.70%

Winner

SMST

+55.36%

NMB

+1.35%

SMST

-27.40%

Winner

NMB

+1.62%

Winner

SMST

+166.72%

NMB

+7.43%

Max(CAGR)

SMST

-84.25%

Winner

NMB

+3.91%

SMST vs NMB - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

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

SMST vs NMB Drawdown Comparison

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

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

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

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