BCTK vs. SMH

Last updated Apr 2, 2026

Compare and contrast key facts about Baron Technology ETF (BCTK) and VanEck Semiconductor ETF (SMH).

BCTK and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BCTK is an actively managed fund by Baron Capital. It was launched on Dec 31, 2021. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011.

Performance

BCTK vs. SMH - Performance Comparison

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

BCTK vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025
BCTK Baron Technology ETF	-5.85%	1.80%
SMH VanEck Semiconductor ETF	8.84%	2.37%

Returns By Period

In the year-to-date period, BCTK achieves a -5.85% return, which is significantly lower than SMH's 8.84% return.

BCTK

• 1D: 1.38%
• 1M: -5.50%
• YTD: -5.85%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH

• 1D: 2.24%
• 1M: -3.55%
• YTD: 8.84%
• 6M: 17.83%
• 1Y: 85.04%
• 3Y*: 44.53%
• 5Y*: 26.15%
• 10Y*: 31.58%

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

BCTK vs. SMH - Expense Ratio Comparison

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

BCTK

Baron Technology ETF

SMH

VanEck Semiconductor ETF

Return for Risk

BCTK vs. SMH — Risk / Return Rank

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

SMH

SMH Risk / Return Rank: 95
SMH Sharpe Ratio Rank: 94
SMH Sortino Ratio Rank: 93
SMH Omega Ratio Rank: 92
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 97

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.

BCTK vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Technology ETF (BCTK) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BCTK	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.32	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.49	0.28	-0.77

Correlation

The correlation between BCTK and SMH is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BCTK vs. SMH - Dividend Comparison

BCTK has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.28%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCTK Baron Technology 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	0.28%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%

Drawdowns

BCTK vs. SMH - Drawdown Comparison

The maximum BCTK drawdown since its inception was -13.96%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for BCTK and SMH.

Drawdown Indicators

	BCTK	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-13.96%	-84.96%	+71.00%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.95%	—
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	-8.39%	-8.02%	-0.37%
Average Drawdown Average peak-to-trough decline	-3.86%	-41.35%	+37.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.47%	—

Volatility

Volatility by Period

	BCTK	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.74%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	28.16%	36.88%	-8.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.16%	34.68%	-6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.16%	32.29%	-4.13%