XRPT vs SMST

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

XRPT vs SMST - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

Winner

XRPT

$49M

SMST

$49M

Max Drawdown

Winner

XRPT

96.37%

SMST

99.25%

Sharpe Ratio

XRPT

-1.39

Winner

SMST

1.43

5Y Beta

XRPT

5.42

Winner

SMST

-4.81

XRPT vs SMST - Holdings Comparison

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

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

Rank	XRPT	SMST
#1	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 4.00%	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 1.40%
#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

XRPT vs SMST - Historical Returns

Returns include dividend reinvestment.

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

Winner

XRPT

+1.81%

SMST

-6.64%

XRPT

-40.03%

Winner

SMST

+55.36%

XRPT

-75.62%

Winner

SMST

-27.40%

XRPT

-95.45%

Winner

SMST

+166.72%

Max(CAGR)

XRPT

-87.76%

Winner

SMST

-84.25%

XRPT vs SMST - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

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

XRPT vs SMST Drawdown Comparison

The maximum drawdown for XRPT was -96.32%, occurring on Jun 25, 2026. This drawdown has not yet recovered.

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

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

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

Correlation

Correlation between XRPT and SMST 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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