Defiance ETFs LLCInverse EquitySMST · Nasdaq

Defiance Daily Target 2x Short MSTR ETF (SMST)

$19.52—12 Nov 2026

Fund

ReturnFundCateg.

1Y-61.7%-29.0%

3Y—-35.8%

5Y—-23.7%

Launch-73.2%—

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Defiance Daily Target 2x Short MSTR ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Five years of daily closes. Risk-free rate 4% a year.

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	+47.9%	-64.0%	-16.9%	-79.0%	-61.7%	—	—	—	-73.2%
Inverse Equity average	11.5%	8.2%	-9.1%	-31.0%	-29.0%	-35.8%	-23.7%	-29.3%	-37.1%
Difference	+36.4%	-72.2%	-7.8%	-48.0%	-32.7%	—	—	—	-36.1%

The 1 largest positions make up 8.9% of the fund.

Largest holdings by weight
Ticker	Holding	Weight
FGXXX	First American Government Obligs X	8.88%

What the fund is invested in.

Prices and returns as of 12 Nov 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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