TOPC vs SMST

Comparison between iShares S&P 500 3 Capped ETF (TOPC, ETF) and DEFIANCE DAILY TARGET 2X SHORT MSTR ETF (SMST, ETF).

TOPC vs SMST - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TOPC(ETF)	SMST(ETF)
Net Assets	$31M	$31M
Expense Ratio	0.09%	N/A
Max Drawdown	8.26%	99.25%
Sharpe Ratio	1.57	1.13
5Y Beta	0.93	-4.76
P/E Ratio	27.44	N/A
Forward P/E	20.68	N/A
5Y EPS CAGR	22.96%	N/A
Debt to Equity	43.62%	N/A
P/S Ratio	3.18	N/A
P/B Ratio	4.89	N/A

Net Assets

TOPC

$31M

SMST

$31M

Expense Ratio

TOPC

0.09%

SMST

N/A

Max Drawdown

Winner

TOPC

8.26%

SMST

99.25%

Sharpe Ratio

Winner

TOPC

1.57

SMST

1.13

5Y Beta

TOPC

0.93

Winner

SMST

-4.76

P/E Ratio

TOPC

27.44

SMST

N/A

Forward P/E

TOPC

20.68

SMST

N/A

5Y EPS CAGR

TOPC

22.96%

SMST

N/A

Debt to Equity

TOPC

43.62%

SMST

N/A

P/S Ratio

TOPC

3.18

SMST

N/A

P/B Ratio

TOPC

4.89

SMST

N/A

TOPC vs SMST - Holdings Comparison

TOPC and SMST have 0 common holdings. Overlap is 0.00%

TOPC's top 25 holdings weight is 40.28%. SMST's top 25 holdings weight is 4.14%.

Rank	TOPC	SMST
#1	BROADCOM INC (AVGO) - 3.63%	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 4.14%
#2	AMAZON.COM INC (AMZN) - 3.31%	N/A
#3	NVIDIA CORP (NVDA) - 3.25%	N/A
#4	APPLE INC (AAPL) - 3.17%	N/A
#5	MICROSOFT CORP (MSFT) - 3.07%	N/A
#6	META PLATFORMS INC CLASS A (META) - 2.44%	N/A
#7	TESLA INC (TSLA) - 2.17%	N/A
#8	MICRON TECHNOLOGY INC (MU) - 2.16%	N/A
#9	ALPHABET INC CLASS A (GOOGL) - 1.82%	N/A
#10	BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.60%	N/A
#11	ELI LILLY AND CO (LLY) - 1.59%	N/A
#12	ADVANCED MICRO DEVICES INC (AMD) - 1.54%	N/A
#13	JPMORGAN CHASE & CO (JPM) - 1.48%	N/A
#14	ALPHABET INC CLASS C (GOOG) - 1.45%	N/A
#15	EXXON MOBIL CORP (XOM) - 1.16%	N/A
#16	VISA INC CLASS A (V) - 1.01%	N/A
#17	JOHNSON & JOHNSON (JNJ) - 1.00%	N/A
#18	INTEL CORP (INTC) - 0.95%	N/A
#19	WALMART INC (WMT) - 0.93%	N/A
#20	CISCO SYSTEMS INC (CSCO) - 0.89%	N/A
#21	WESTERN DIGITAL CORP (WDC) - 0.34%	N/A
#22	AMPHENOL CORP CLASS A (APH) - 0.33%	N/A
#23	BOEING CO (BA) - 0.33%	N/A
#24	ARISTA NETWORKS INC (ANET) - 0.33%	N/A
#25	AMGEN INC (AMGN) - 0.33%	N/A
Total Holdings	468	1

TOPC vs SMST - Historical Returns

Returns include dividend reinvestment.

Period	TOPC	SMST
1 month	+1.67%	+89.52%
3 months	+11.69%	-19.62%
6 months	+10.16%	-35.85%
1 year	+23.70%	+67.45%
Max(CAGR)	+34.29%	-86.94%

TOPC

+1.67%

Winner

SMST

+89.52%

Winner

TOPC

+11.69%

SMST

-19.62%

Winner

TOPC

+10.16%

SMST

-35.85%

TOPC

+23.70%

Winner

SMST

+67.45%

Max(CAGR)

Winner

TOPC

+34.29%

SMST

-86.94%

TOPC vs SMST - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	TOPC	SMST
2026	+10.01%	-46.36%
2025	+27.46%	-39.90%
2024	N/A	-90.90%

TOPC vs SMST Drawdown Comparison

The maximum drawdown for TOPC was -8.04%, occurring on Mar 30, 2026. Recovery took 49 trading sessions.

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

The current TOPC drawdown is -1.37%. The current SMST drawdown is -98.04%.

Rank	TOPC	SMST
#1	-8.04% Feb 2, 2026 - Apr 14, 2026	-99.25% Sep 6, 2024 - Jul 16, 2025
#2	-5.04% Oct 27, 2025 - Dec 10, 2025	-18.07% Aug 22, 2024 - Sep 3, 2024
#3	-3.71% Jun 2, 2026 - Jun 10, 2026	-3.13% Sep 3, 2024 - Sep 5, 2024
#4	-2.92% Oct 8, 2025 - Oct 24, 2025	N/A
#5	-2.53% May 19, 2025 - Jun 3, 2025	N/A
#6	-2.53% Jul 25, 2025 - Aug 12, 2025	N/A
#7	-2.25% Jan 12, 2026 - Jan 29, 2026	N/A
#8	-2.24% Apr 17, 2025 - Apr 22, 2025	N/A
#9	-2.08% Dec 11, 2025 - Dec 23, 2025	N/A
#10	-1.79% May 14, 2026 - May 22, 2026	N/A
#11	-1.34% Dec 24, 2025 - Jan 6, 2026	N/A
#12	-1.27% Sep 22, 2025 - Oct 1, 2025	N/A
#13	-1.25% Jun 12, 2025 - Jun 24, 2025	N/A
#14	-1.16% May 2, 2025 - May 12, 2025	N/A
#15	-1.14% Aug 13, 2025 - Aug 22, 2025	N/A