AIS vs. SMH
AIS (VistaShares Artificial Intelligence Supercycle ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - AIS is a Artificial Intelligence fund actively managed by VistaShares, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. AIS is actively managed, while SMH is passively managed. Over the past year, AIS returned 125.16% vs 92.69% for SMH. Their correlation of 0.92 means they have usually moved in the same direction. AIS charges 0.75%/yr vs 0.35%/yr for SMH.
Performance
AIS vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, AIS achieves a 72.78% return, which is significantly higher than SMH's 51.46% return.
AIS
- 1D
- 2.42%
- 1M
- -12.08%
- 6M
- 49.99%
- YTD
- 72.78%
- 1Y
- 125.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 77.79%
SMH
- 1D
- 0.91%
- 1M
- -7.91%
- 6M
- 33.70%
- YTD
- 51.46%
- 1Y
- 92.69%
- 3Y*
- 53.04%
- 5Y*
- 32.99%
- 10Y*
- 33.99%
- ALL TIME*
- 11.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $38.16M | $40.99M | $51.37M | |
| $8.29B | $7.23B | $7.12B |
AIS vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AIS VistaShares Artificial Intelligence Supercycle ETF | 72.78% | 58.35% | -4.74% |
SMH VanEck Semiconductor ETF | 51.46% | 49.17% | -1.87% |
Correlation
The correlation between AIS and SMH is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024 | 0.92 |
The correlation between AIS and SMH has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
AIS vs. SMH - Sectors Allocation Comparison
Sectors
AIS
SMH
Technology
Industrials
-
Utilities
-
Consumer Defensive
-
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Energy
-
-
Healthcare
-
-
Real Estate
-
-
Financial Services
-
Technology
AIS
SMH
Industrials
AIS
SMH
-
Utilities
AIS
SMH
-
Consumer Defensive
AIS
SMH
-
Basic Materials
AIS
-
SMH
-
Communication Services
AIS
-
SMH
-
Consumer Cyclical
AIS
-
SMH
-
Energy
AIS
-
SMH
-
Healthcare
AIS
-
SMH
-
Real Estate
AIS
-
SMH
-
Financial Services
AIS
SMH
-
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Return for Risk
AIS vs. SMH — Risk / Return Rank
AIS
SMH
AIS vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VistaShares Artificial Intelligence Supercycle ETF (AIS) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AIS | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.37 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 3.79 | -0.13 |
| Martin ratioReturn relative to average drawdown | 14.88 | 15.18 | -0.31 |
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Drawdowns
AIS vs. SMH - Drawdown Comparison
The maximum AIS drawdown since its inception was -34.44%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for AIS and SMH.
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Drawdown Indicators
| AIS | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.44% | -84.96% | +50.52% |
Max Drawdown (1Y)Largest decline over 1 year | -34.44% | -24.62% | -9.82% |
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 DrawdownCurrent decline from peak | -26.18% | -18.46% | -7.72% |
Average DrawdownAverage peak-to-trough decline | -6.35% | -40.89% | +34.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.44% | 6.13% | +2.31% |
Volatility
AIS vs. SMH - Volatility Comparison
VistaShares Artificial Intelligence Supercycle ETF (AIS) has a higher volatility of 20.84% compared to VanEck Semiconductor ETF (SMH) at 14.15%. This indicates that AIS's price experiences larger fluctuations and is considered to be riskier than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AIS | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.84% | 14.15% | +6.69% |
Volatility (6M)Calculated over the trailing 6-month period | 43.14% | 32.94% | +10.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.84% | 38.50% | +9.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.98% | 36.51% | +7.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.98% | 33.33% | +10.65% |
AIS vs. SMH - Expense Ratio Comparison
AIS has a 0.75% expense ratio, which is higher than SMH's 0.35% expense ratio.
Dividends
AIS vs. SMH - Dividend Comparison
AIS has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.20%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIS VistaShares Artificial Intelligence Supercycle 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 | 0.20% | 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
With a correlation of 0.94, AIS and SMH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
AIS has higher volatility (20.84%) compared to SMH (14.15%). In terms of maximum drawdown, AIS dropped -34.44% vs SMH's -84.96%.
On 1-year performance, AIS leads with 125.16% vs 92.69% for SMH. On fees, SMH is cheaper at 0.35% per year. On volatility, SMH has been the lower-risk option at 14.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AIS has performed better with a 125.16% return vs 92.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMH is cheaper with a 0.35% expense ratio, compared with 0.75% for AIS.
SMH has the higher dividend yield at 0.20%, compared with 0.00% for AIS.
AIS is categorized as Artificial Intelligence, while SMH is Semiconductors. They also come from different issuers: VistaShares and VanEck. Their fees differ too: 0.75% for AIS and 0.35% for SMH.
AIS currently has the higher Sharpe Ratio (2.64 vs 2.43), 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.
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