SMST — Defiance Daily Target 2X Short MSTR ETF
Data updated: 2026-06-25
SMST — Defiance Daily Target 2X Short MSTR ETF data: holdings, portfolio allocation, expenses, performance, cashflows, risk and SEC filings. Leveraged · $30.88M AUM · 1.29% expense ratio · 6.2% 1-yr return. From SEC regulatory filings.
SMST Fund Overview
SMST — Defiance Daily Target 2X Short MSTR ETF is a US ETF managed by Tidal Trust II, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Tidal Trust II
- Category: Leveraged
- Assets under management: $30.88M
- 1-year return: 6.2%
- Ticker: SMST
- SEC CIK: 0001924868
- SEC series ID: S000085368
- Share class ID: C000250371
SMST Holdings
Top 2 holdings of Defiance Daily Target 2X Short MSTR ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Treasury Bill | 20.04% |
| First American Government Obli | 1.10% |
SMST Portfolio Allocation
Asset-class allocation of Defiance Daily Target 2X Short MSTR ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 20.0% |
| Derivatives | 6.2% |
| Cash & Equivalents | 1.1% |
SMST Performance
Total returns for SMST (as of 2026-08-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -65.5% |
| 1 year | 6.2% |
SMST Risk Information
Risk metrics for SMST, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 130.9%
SMST Costs and Fees
SMST costs about $129 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.29%
- Gross expense ratio: 1.29%
- Portfolio turnover: 0%
- Brokerage commissions: 104.92 bps of average net assets (SEC N-CEN)
SMST Cashflows
Over the 12 months to 2026-04, Defiance Daily Target 2X Short MSTR ETF had net outflows of $13.91M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $8.78M |
| 2026-03 | $6.21M |
| 2026-02 | $13.32M |
| 2026-01 | −$5.96M |
| 2025-12 | $4.32M |
| 2025-11 | −$17.99M |
SMST Debt Constituents
Largest debt holdings of Defiance Daily Target 2X Short MSTR ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Treasury Bill | 20.04% |
SMST Prospectus and SEC Filings
Official Defiance Daily Target 2X Short MSTR ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Leveraged funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.