ANGL vs. SMHX
ANGL (VanEck Fallen Angel High Yield Bond ETF) and SMHX (VanEck Fabless Semiconductor ETF) are both exchange-traded funds - ANGL is a High Yield Bonds fund tracking the ICE US Fallen Angel High Yield 10% Constrained Index, while SMHX is a Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index. Both are passively managed. Over the past year, ANGL returned 6.30% vs 65.92% for SMHX. Their 0.45 correlation means their historical movements had little consistent relationship. ANGL charges 0.25%/yr vs 0.35%/yr for SMHX.
Performance
ANGL vs. SMHX - Performance Comparison
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Returns By Period
In the year-to-date period, ANGL achieves a 2.11% return, which is significantly lower than SMHX's 45.86% return.
ANGL
- 1D
- 0.34%
- 1M
- -0.48%
- 6M
- 1.23%
- YTD
- 2.11%
- 1Y
- 6.30%
- 3Y*
- 8.08%
- 5Y*
- 3.01%
- 10Y*
- 5.78%
- ALL TIME*
- 6.78%
SMHX
- 1D
- 1.15%
- 1M
- -5.42%
- 6M
- 41.22%
- YTD
- 45.86%
- 1Y
- 65.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 50.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $25.84M | $20.61M | $19.38M | |
| $4.62M | $5.78M | $8.43M |
ANGL vs. SMHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ANGL VanEck Fallen Angel High Yield Bond ETF | 2.11% | 9.04% | 0.83% |
SMHX VanEck Fabless Semiconductor ETF | 45.86% | 30.00% | 15.56% |
Correlation
The correlation between ANGL and SMHX is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024 | 0.45 |
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Return for Risk
ANGL vs. SMHX — Risk / Return Rank
ANGL
SMHX
ANGL vs. SMHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Fallen Angel High Yield Bond ETF (ANGL) and VanEck Fabless Semiconductor ETF (SMHX). 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.
| ANGL | SMHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.28 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.66 | -1.10 |
| Martin ratioReturn relative to average drawdown | 6.43 | 8.20 | -1.76 |
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Drawdowns
ANGL vs. SMHX - Drawdown Comparison
The maximum ANGL drawdown since its inception was -29.31%, smaller than the maximum SMHX drawdown of -38.53%. Use the drawdown chart below to compare losses from any high point for ANGL and SMHX.
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Drawdown Indicators
| ANGL | SMHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.31% | -38.53% | +9.22% |
Max Drawdown (1Y)Largest decline over 1 year | -4.05% | -24.93% | +20.88% |
Max Drawdown (3Y)Largest decline over 3 years | -5.48% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.25% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -29.31% | — | — |
Current DrawdownCurrent decline from peak | -0.55% | -18.26% | +17.71% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -7.75% | +4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 8.07% | -7.09% |
Volatility
ANGL vs. SMHX - Volatility Comparison
The current volatility for VanEck Fallen Angel High Yield Bond ETF (ANGL) is 0.96%, while VanEck Fabless Semiconductor ETF (SMHX) has a volatility of 14.16%. This indicates that ANGL experiences smaller price fluctuations and is considered to be less risky than SMHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ANGL | SMHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 14.16% | -13.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.63% | 33.27% | -29.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.35% | 39.62% | -35.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.64% | 41.96% | -34.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.23% | 41.96% | -32.73% |
ANGL vs. SMHX - Expense Ratio Comparison
ANGL has a 0.25% expense ratio, which is lower than SMHX's 0.35% expense ratio.
Dividends
ANGL vs. SMHX - Dividend Comparison
ANGL's dividend yield for the trailing twelve months is around 6.55%, more than SMHX's 0.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Fallen Angel High Yield Bond ETF | 6.55% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
SMHX VanEck Fabless Semiconductor ETF | 0.02% | 0.02% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ANGL and SMHX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMHX has higher volatility (14.16%) compared to ANGL (0.96%). In terms of maximum drawdown, ANGL dropped -29.31% vs SMHX's -38.53%.
On 1-year performance, SMHX leads with 65.92% vs 6.30% for ANGL. On fees, ANGL is cheaper at 0.25% per year. On volatility, ANGL has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SMHX has performed better with a 65.92% return vs 6.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ANGL is cheaper with a 0.25% expense ratio, compared with 0.35% for SMHX.
ANGL has the higher dividend yield at 6.55%, compared with 0.02% for SMHX.
ANGL is categorized as High Yield Bonds, while SMHX is Semiconductors. ANGL tracks ICE US Fallen Angel High Yield 10% Constrained Index, while SMHX tracks MarketVector™ US Listed Fabless Semiconductor Index. Their fees differ too: 0.25% for ANGL and 0.35% for SMHX.
SMHX currently has the higher Sharpe Ratio (1.68 vs 1.46), 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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