Key stats
About Defiance Daily Target 2x Short MSTR ETF
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Inception date
Aug 20, 2024
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
SMST uses swap agreements to make bearish bets on MicroStrategy Incorporated's (NYSE: MSTR) share price. MSTR was originally known for its enterprise analytics software. It has then pivoted to include acquiring and holding Bitcoin (BTC) as another operational business. The fund maintains a daily leveraged exposure equivalent to -200% of the fund's net assets through daily rebalancing. As a geared product, the fund is intended as a short-term tactical tool, rather than as a long-term investment vehicle. As a result, returns may deviate from the expected -2x if held for longer than a single day due to compounding. This strategy is high-risk and does not include a defensive position as part of its overall process. Additionally, the fund could potentially lose money over time, even if MSTR's performance strengthens. The fund is expected to invest in cash-like instruments as collateral. Following October 29, 2024, the fund adjusted its leverage ratio from 1.5x to 2x.
Classification
What's in the fund
Exposure type
Cash
Mutual fund
Bonds, Cash & Other100.00%
Cash89.77%
Mutual fund10.23%
Top 10 holdings
SMST/USD – 30-Min Short Trade Setup !📌 📉
🔹 Asset: SMST (Defiance Daily Target 2X Short MSTR ETF)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bearish Breakdown Trade
📌 Trade Plan (Short Position)
✅ Entry Zone: Below $8.10 (Breakdown Confirmation)
✅ Stop-Loss (SL): Above $9.03 (Break of Resistance & Trendline)
🎯 Take Profit Targets
📌 TP1:
Bearish Trade Setup for SMST Thursday!
📍 Entry (Short): $8.33
🛑 Stop Loss (SL): $8.93
🎯 Target 1 (T1): $7.61
🎯 Target 2 (T2): $6.74
📉 Pattern: Rising wedge indicating a potential bearish breakdown.
⚠️ Note: Watch for breakdown confirmation with increased volume before entry.
This reflects the bearish nature of the trade. Let me know if
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.
Related funds
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
SMST trades at 28.51 USD today, its price has fallen −7.94% in the past 24 hours. Track more dynamics on SMST price chart.
SMST net asset value is 27.02 today — it's fallen 3.07% over the past month. NAV represents the total value of the fund's assets less liabilities and serves as a gauge of the fund's performance.
SMST assets under management is 39.18 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
SMST price has fallen by −3.81% over the last month, and its yearly performance shows a −98.58% decrease. See more dynamics on SMST price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −3.07% over the last month, showed a −71.43% decrease in three-month performance and has decreased by −83.81% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −3.07% over the last month, showed a −71.43% decrease in three-month performance and has decreased by −83.81% in a year.
SMST fund flows account for 54.20 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
SMST invests in cash. See more details in our Analysis section.
SMST expense ratio is 1.29%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
SMST is an inverse fund, meaning it's structured to generate returns opposite to the trends of the underlying index or assets.
In some ways, ETFs are safe investments, but in a broader sense, they're not safer than any other asset, so it's crucial to analyze a fund before investing. But if your research gives a vague answer, you can always refer to technical analysis.
Today, SMST technical analysis shows the sell rating and its 1-week rating is sell. Since market conditions are prone to changes, it's worth looking a bit further into the future — according to the 1-month rating SMST shows the sell signal. See more of SMST technicals for a more comprehensive analysis.
Today, SMST technical analysis shows the sell rating and its 1-week rating is sell. Since market conditions are prone to changes, it's worth looking a bit further into the future — according to the 1-month rating SMST shows the sell signal. See more of SMST technicals for a more comprehensive analysis.
No, SMST doesn't pay dividends to its holders.
SMST trades at a premium (0.05%).
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
SMST shares are issued by Toroso Investments Topco LLC
SMST follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Aug 20, 2024.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.