XUSP vs SMST

Comparison between Innovator Uncapped Accelerated U.S. Equity ETF (XUSP, ETF) and DEFIANCE DAILY TARGET 2X SHORT MSTR ETF (SMST, ETF).

XUSP vs SMST - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	XUSP(ETF)	SMST(ETF)
Net Assets	$49M	$49M
Expense Ratio	0.79%	N/A
Max Drawdown	22.59%	99.25%
Sharpe Ratio	0.94	1.54
5Y Beta	1.18	-4.83

Net Assets

XUSP

$49M

Winner

SMST

$49M

Expense Ratio

XUSP

0.79%

SMST

N/A

Max Drawdown

Winner

XUSP

22.59%

SMST

99.25%

Sharpe Ratio

XUSP

0.94

Winner

SMST

1.54

5Y Beta

XUSP

1.18

Winner

SMST

-4.83

XUSP vs SMST - Historical Returns

Returns include dividend reinvestment.

Period	XUSP	SMST
1 month	+0.06%	-1.13%
3 months	+4.97%	+106.77%
6 months	+7.50%	-16.10%
1 year	+18.98%	+192.41%
Max(CAGR)	+18.05%	-82.87%

Winner

XUSP

+0.06%

SMST

-1.13%

XUSP

+4.97%

Winner

SMST

+106.77%

Winner

XUSP

+7.50%

SMST

-16.10%

XUSP

+18.98%

Winner

SMST

+192.41%

Max(CAGR)

Winner

XUSP

+18.05%

SMST

-82.87%

XUSP vs SMST - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	XUSP	SMST
2026	+8.64%	-28.18%
2025	+18.56%	-39.90%
2024	+32.22%	-90.90%
2023	+27.01%	N/A
2022	-9.24%	N/A

XUSP vs SMST Drawdown Comparison

The maximum drawdown for XUSP was -22.59%, occurring on Apr 8, 2025. Recovery took 143 trading sessions.

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

The current XUSP drawdown is -4.45%. The current SMST drawdown is -97.38%.

Rank	XUSP	SMST
#1	-22.59% Dec 4, 2024 - Jul 3, 2025	-99.25% Sep 6, 2024 - Jul 16, 2025
#2	-18.20% Aug 16, 2022 - Jun 13, 2023	-18.07% Aug 22, 2024 - Sep 3, 2024
#3	-13.92% Jul 31, 2023 - Dec 13, 2023	-3.13% Sep 3, 2024 - Sep 5, 2024
#4	-12.13% Jan 12, 2026 - Apr 17, 2026	N/A
#5	-11.67% Jul 16, 2024 - Sep 19, 2024	N/A
#6	-7.91% Mar 28, 2024 - May 15, 2024	N/A
#7	-7.19% Oct 28, 2025 - Jan 9, 2026	N/A
#8	-6.26% Jun 2, 2026 - Jun 10, 2026	N/A
#9	-3.83% Oct 14, 2024 - Nov 6, 2024	N/A
#10	-3.51% Oct 8, 2025 - Oct 24, 2025	N/A
#11	-3.31% Jul 25, 2025 - Aug 12, 2025	N/A
#12	-3.11% Nov 8, 2024 - Nov 26, 2024	N/A
#13	-3.05% Dec 27, 2023 - Jan 19, 2024	N/A
#14	-3.03% May 14, 2026 - May 26, 2026	N/A
#15	-2.75% Jun 15, 2023 - Jun 30, 2023	N/A

Correlation

Correlation between XUSP and SMST is -0.39 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.39

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