AIFD vs. SMH

Last updated Jun 3, 2026

AIFD (TCW Artificial Intelligence ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - AIFD is a Technology Equities fund actively managed by TCW, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. AIFD is actively managed, while SMH is passively managed. Over the past year, AIFD returned 104.68% vs 157.20% for SMH. Their correlation of 0.87 suggests significant overlap in exposure. AIFD charges 0.75%/yr vs 0.35%/yr for SMH.

Performance

AIFD vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Artificial Intelligence ETF (AIFD) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIFD achieves a 52.46% return, which is significantly lower than SMH's 77.13% return.

AIFD

• 1D: 3.28%
• 1M: 20.62%
• YTD: 52.46%
• 6M: 53.64%
• 1Y: 104.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH

• 1D: 0.90%
• 1M: 25.87%
• YTD: 77.13%
• 6M: 75.61%
• 1Y: 157.20%
• 3Y*: 64.17%
• 5Y*: 39.21%
• 10Y*: 37.68%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIFD vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AIFD TCW Artificial Intelligence ETF	52.46%	28.30%	14.65%
SMH VanEck Semiconductor ETF	77.13%	49.17%	9.24%

Correlation

The correlation between AIFD and SMH is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 7, 2024	0.87

The correlation between AIFD and SMH has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

AIFD vs. SMH - Sectors Allocation Comparison

Sectors	AIFD	SMH
Technology	71.1%	100.0%
Communication Services	11.0%	-
Industrials	10.2%	-
Consumer Cyclical	6.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

AIFD vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIFD

AIFD Risk / Return Rank: 94
AIFD Sharpe Ratio Rank: 96
AIFD Sortino Ratio Rank: 92
AIFD Omega Ratio Rank: 91
AIFD Calmar Ratio Rank: 96
AIFD Martin Ratio Rank: 96

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 98
SMH Sortino Ratio Rank: 95
SMH Omega Ratio Rank: 95
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIFD vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Artificial Intelligence ETF (AIFD) and VanEck Semiconductor ETF (SMH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AIFD	SMH	Difference
Sharpe ratio Return per unit of total volatility	4.13	5.19	-1.05
Sortino ratio Return per unit of downside risk	4.56	5.22	-0.66
Omega ratio Gain probability vs. loss probability	1.62	1.72	-0.11
Calmar ratio Return relative to maximum drawdown	9.09	10.59	-1.50
Martin ratio Return relative to average drawdown	38.58	40.63	-2.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AIFD vs. SMH - Sharpe Ratio Comparison

The current AIFD Sharpe Ratio is 4.13, which is comparable to the SMH Sharpe Ratio of 5.19. The chart below compares the historical Sharpe Ratios of AIFD and SMH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AIFD	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.13	5.19	-1.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.64	0.34	+1.30

Drawdowns

AIFD vs. SMH - Drawdown Comparison

The maximum AIFD drawdown since its inception was -33.20%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for AIFD and SMH.

Drawdown Indicators

	AIFD	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-33.20%	-84.96%	+51.76%
Max Drawdown (1Y) Largest decline over 1 year	-11.75%	-14.93%	+3.18%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-45.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.30%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.73%	-41.09%	+35.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	3.89%	-1.12%

Volatility

AIFD vs. SMH - Volatility Comparison

The current volatility for TCW Artificial Intelligence ETF (AIFD) is 8.66%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.47%. This indicates that AIFD experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIFD	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.66%	11.47%	-2.81%
Volatility (6M) Calculated over the trailing 6-month period	19.75%	24.29%	-4.54%
Volatility (1Y) Calculated over the trailing 1-year period	25.48%	30.56%	-5.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.34%	35.01%	-5.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.34%	32.57%	-3.23%

AIFD vs. SMH - Expense Ratio Comparison

AIFD has a 0.75% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

AIFD vs. SMH - Dividend Comparison

AIFD has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIFD TCW Artificial Intelligence ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMH VanEck Semiconductor ETF	0.17%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%

Frequently Asked Questions

Can I hold both AIFD and SMH in my portfolio?

AIFD and SMH have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIFD or SMH?

SMH has higher volatility (11.47%) compared to AIFD (8.66%). In terms of maximum drawdown, AIFD dropped -33.20% vs SMH's -84.96%.

Which ETF is better, AIFD or SMH?

On 1-year performance, SMH leads with 157.20% vs 104.68% for AIFD. On fees, SMH is cheaper at 0.35% per year. On volatility, AIFD has been the lower-risk option at 8.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIFD or SMH?

Over the 1-year period, SMH has performed better with a 157.20% return vs 104.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIFD or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.75% for AIFD.

Which ETF pays a higher dividend yield, AIFD or SMH?

SMH has the higher dividend yield at 0.17%, compared with 0.00% for AIFD.

What is the main difference between AIFD and SMH?

AIFD is categorized as Technology Equities, while SMH is Semiconductors. They also come from different issuers: TCW and VanEck. Their fees differ too: 0.75% for AIFD and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (5.19 vs 4.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.