AIVC vs. SMH

Last updated Aug 2, 2026

AIVC (Amplify Bloomberg AI Value Chain ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - AIVC is a Technology Equities fund tracking the Bloomberg AI Value Chain Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 10 years, AIVC returned 14.90%/yr vs 34.16%/yr for SMH. Their 0.70 correlation means they have sometimes moved together and sometimes differently. AIVC charges 0.59%/yr vs 0.35%/yr for SMH.

Performance

AIVC vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Bloomberg AI Value Chain ETF (AIVC) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AIVC having a 51.80% return and SMH slightly lower at 50.09%. Over the past 10 years, AIVC has underperformed SMH with an annualized return of 14.90%, while SMH has yielded a comparatively higher 34.16% annualized return.

AIVC

• 1D: 2.05%
• 1M: -3.20%
• 6M: 43.84%
• YTD: 51.80%
• 1Y: 90.42%
• 3Y*: 40.15%
• 5Y*: 15.23%
• 10Y*: 14.90%
• ALL TIME*: 14.99%

SMH

• 1D: 0.30%
• 1M: -8.74%
• 6M: 33.97%
• YTD: 50.09%
• 1Y: 90.95%
• 3Y*: 50.56%
• 5Y*: 33.46%
• 10Y*: 34.16%
• ALL TIME*: 11.06%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIVC Amplify Bloomberg AI Value Chain ETF	$693.08K	$1.23M	$2.77M
SMH VanEck Semiconductor ETF	$8.28B	$7.64B	$7.07B

AIVC vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIVC Amplify Bloomberg AI Value Chain ETF	51.80%	39.94%	18.22%	39.28%	-38.91%	-7.23%	41.45%	27.78%	-18.62%	35.42%
SMH VanEck Semiconductor ETF	50.09%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between AIVC and SMH is 0.88, 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.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Mar 9, 2016	0.70

The correlation between AIVC and SMH shifts across timeframes, from 0.70 (all time) to 0.88 (1 year), reflecting how their relationship changes across market environments.

AIVC vs. SMH - Sectors Allocation Comparison

Sectors	AIVC	SMH
Technology	91.0%	100.0%
Consumer Cyclical	5.0%	-
Communication Services	2.1%	-
Industrials	1.7%	-
Financial Services	0.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

AIVC vs. SMH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AIVC

AIVC Risk / Return Rank: 88
AIVC Sharpe Ratio Rank: 93
AIVC Sortino Ratio Rank: 86
AIVC Omega Ratio Rank: 84
AIVC Calmar Ratio Rank: 89
AIVC Martin Ratio Rank: 88

SMH

SMH Risk / Return Rank: 87
SMH Sharpe Ratio Rank: 91
SMH Sortino Ratio Rank: 83
SMH Omega Ratio Rank: 84
SMH Calmar Ratio Rank: 88
SMH Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AIVC vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Bloomberg AI Value Chain ETF (AIVC) 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.

	AIVC	SMH	Difference
Sharpe ratio: Return per unit of total volatility	2.45	2.29	+0.15
Sortino ratio: Return per unit of downside risk	2.87	2.70	+0.18
Omega ratio: Gain probability vs. loss probability	1.36	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	3.70	3.58	+0.11
Martin ratio: Return relative to average drawdown	13.10	14.64	-1.54

AIVC vs. SMH - Sharpe Ratio Comparison

The current AIVC Sharpe Ratio is 2.45, which is comparable to the SMH Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of AIVC 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.

Drawdowns

AIVC vs. SMH - Drawdown Comparison

The maximum AIVC drawdown since its inception was -56.11%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for AIVC and SMH.

Drawdown Indicators

	AIVC	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-56.11%	-84.96%	+28.85%
Max Drawdown (1Y) Largest decline over 1 year	-23.29%	-24.62%	+1.33%
Max Drawdown (3Y) Largest decline over 3 years	-32.55%	-35.74%	+3.19%
Max Drawdown (5Y) Largest decline over 5 years	-53.58%	-45.30%	-8.28%
Max Drawdown (10Y) Largest decline over 10 years	-56.11%	-45.30%	-10.81%
Current Drawdown Current decline from peak	-16.53%	-19.19%	+2.66%
Average Drawdown Average peak-to-trough decline	-16.35%	-40.89%	+24.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.56%	6.01%	+0.55%

Volatility

AIVC vs. SMH - Volatility Comparison

The current volatility for Amplify Bloomberg AI Value Chain ETF (AIVC) is 13.86%, while VanEck Semiconductor ETF (SMH) has a volatility of 14.70%. This indicates that AIVC 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

	AIVC	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.86%	14.70%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	29.86%	33.13%	-3.27%
Volatility (1Y) Calculated over the trailing 1-year period	35.26%	38.57%	-3.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.35%	36.50%	-5.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.49%	33.32%	-5.83%

AIVC vs. SMH - Expense Ratio Comparison

AIVC has a 0.59% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

AIVC vs. SMH - Dividend Comparison

AIVC's dividend yield for the trailing twelve months is around 0.11%, less than SMH's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIVC Amplify Bloomberg AI Value Chain ETF	0.11%	0.17%	0.21%	0.00%	0.00%	0.00%	0.39%	1.16%	0.38%	0.92%	0.64%	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

Can I hold both AIVC and SMH in my portfolio?

AIVC and SMH have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIVC or SMH?

SMH has higher volatility (14.70%) compared to AIVC (13.86%). In terms of maximum drawdown, AIVC dropped -56.11% vs SMH's -84.96%.

Which ETF is better, AIVC or SMH?

On 10-year performance, SMH leads with 34.16% vs 14.90% for AIVC. On fees, SMH is cheaper at 0.35% per year. On volatility, AIVC has been the lower-risk option at 13.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIVC or SMH?

Over the 10-year period, SMH has performed better with a 34.16% return vs 14.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIVC or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.59% for AIVC.

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

SMH has the higher dividend yield at 0.20%, compared with 0.11% for AIVC.

What is the main difference between AIVC and SMH?

AIVC is categorized as Technology Equities, while SMH is Semiconductors. AIVC tracks Bloomberg AI Value Chain Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: Amplify and VanEck. Their fees differ too: 0.59% for AIVC and 0.35% for SMH.

Which has better risk-adjusted returns?

AIVC currently has the higher Sharpe Ratio (2.45 vs 2.29), 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.