SMST vs XRPT

Comparison between DEFIANCE DAILY TARGET 2X SHORT MSTR ETF (SMST, ETF) and Volatility Shares Trust XRP 2X ETF (XRPT, ETF).

SMST vs XRPT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SMST(ETF)	XRPT(ETF)
Net Assets	$49M	$49M
Max Drawdown	99.25%	96.37%
Sharpe Ratio	1.43	-1.39
5Y Beta	-4.81	5.42

Net Assets

SMST

$49M

Winner

XRPT

$49M

Max Drawdown

SMST

99.25%

Winner

XRPT

96.37%

Sharpe Ratio

Winner

SMST

1.43

XRPT

-1.39

5Y Beta

Winner

SMST

-4.81

XRPT

5.42

SMST vs XRPT - Holdings Comparison

SMST and XRPT have 1 common holdings. Overlap is 1.40%

SMST's top 25 holdings weight is 1.40%. XRPT's top 25 holdings weight is 4.00%.

Rank	SMST	XRPT
#1	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 1.40%	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 4.00%
#2	N/A	N/A
#3	N/A	N/A
#4	N/A	N/A
#5	N/A	N/A
#6	N/A	N/A
#7	N/A	N/A
#8	N/A	N/A
#9	N/A	N/A
#10	N/A	N/A
#11	N/A	N/A
#12	N/A	N/A
#13	N/A	N/A
#14	N/A	N/A
#15	N/A	N/A
#16	N/A	N/A
#17	N/A	N/A
#18	N/A	N/A
#19	N/A	N/A
#20	N/A	N/A
#21	N/A	N/A
#22	N/A	N/A
#23	N/A	N/A
#24	N/A	N/A
#25	N/A	N/A
Total Holdings	1	1

SMST vs XRPT - Historical Returns

Returns include dividend reinvestment.

Period	SMST	XRPT
1 month	-6.64%	+1.81%
3 months	+55.36%	-40.03%
6 months	-27.40%	-75.62%
1 year	+166.72%	-95.45%
Max(CAGR)	-84.25%	-87.76%

SMST

-6.64%

Winner

XRPT

+1.81%

Winner

SMST

+55.36%

XRPT

-40.03%

Winner

SMST

-27.40%

XRPT

-75.62%

Winner

SMST

+166.72%

XRPT

-95.45%

Max(CAGR)

Winner

SMST

-84.25%

XRPT

-87.76%

SMST vs XRPT - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	SMST	XRPT
2026	-38.26%	-76.87%
2025	-39.90%	-67.82%
2024	-90.90%	N/A

SMST vs XRPT 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 XRPT was -96.32%, occurring on Jun 25, 2026. This drawdown has not yet recovered.

The current SMST drawdown is -97.74%. The current XRPT drawdown is -95.45%.

Rank	SMST	XRPT
#1	-99.25% Sep 6, 2024 - Jul 16, 2025	-96.32% Jul 21, 2025 - Jun 25, 2026
#2	-18.07% Aug 22, 2024 - Sep 3, 2024	-31.79% May 22, 2025 - Jul 11, 2025
#3	-3.13% Sep 3, 2024 - Sep 5, 2024	-4.32% Jul 14, 2025 - Jul 16, 2025

Correlation

Correlation between SMST and XRPT is -0.63 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.63

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