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Fetching the latest fund profile, holdings, and market data.
NASDAQ Global Market · Fixed income
$32.21
−$4.65 · -12.62%
· Aug 21, 4:00 PM ET
$32.21
Previous close−$4.65 · -12.62%
· Aug 21, 4:00 PM ET
$32.18
−$4.68 · -12.70%
Regular session · ET · Market data may be delayed.
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.
Fund assets
19.46M USD
Expense ratio
1.31%
NAV
$32.28
Average volume
390.99K
Volume
1M
Day range
$30.675 – $33.68
52-week range
$21.68 – $154.16
Previous close
$36.86
Price change
1 day
-12.62%
1 month
-48.04%
3 months
+3.27%
Year to date
-65.29%
1 year
+16.66%
3 years
-98.24%
5 years
-98.24%
Price changes exclude distributions, fees, taxes, and investor-specific cash flows.
Portfolio
Holdings data updated Aug 23, 2026.
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ETF data may be delayed, incomplete, or revised. Holdings and exposures change over time. Historical performance does not guarantee future results. This page is for informational and educational purposes only and does not constitute investment advice or a recommendation.
