BNGE vs. SMH

Last updated Jul 15, 2026

BNGE (First Trust S-Network Streaming and Gaming ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - BNGE is a Technology Equities fund tracking the S-Network Streaming & Gaming Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 3 years, BNGE returned 11.55%/yr vs 57.11%/yr for SMH. A 0.69 correlation means they provide meaningful diversification when combined. BNGE charges 0.70%/yr vs 0.35%/yr for SMH.

Performance

BNGE vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust S-Network Streaming and Gaming ETF (BNGE) 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, BNGE achieves a -16.14% return, which is significantly lower than SMH's 66.69% return.

BNGE

• 1D: -0.45%
• 1M: 0.72%
• 6M: -15.87%
• YTD: -16.14%
• 1Y: -13.73%
• 3Y*: 11.55%
• 5Y*: —
• 10Y*: —

SMH

• 1D: 2.51%
• 1M: -3.17%
• 6M: 53.32%
• YTD: 66.69%
• 1Y: 111.05%
• 3Y*: 57.11%
• 5Y*: 37.46%
• 10Y*: 36.27%

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

BNGE vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BNGE First Trust S-Network Streaming and Gaming ETF	-16.14%	35.18%	19.23%	37.21%	-28.77%
SMH VanEck Semiconductor ETF	66.69%	49.17%	39.10%	73.38%	-22.35%

Correlation

The correlation between BNGE and SMH is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jan 26, 2022	0.69

Over the past year, the correlation between BNGE and SMH has dropped to 0.40 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

BNGE vs. SMH - Sectors Allocation Comparison

Sectors	BNGE	SMH
Communication Services	65.7%	-
Consumer Cyclical	26.5%	-
Technology	7.9%	100.0%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

BNGE vs. SMH — Risk / Return Rank

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

BNGE

BNGE Risk / Return Rank: 4
BNGE Sharpe Ratio Rank: 3
BNGE Sortino Ratio Rank: 3
BNGE Omega Ratio Rank: 3
BNGE Calmar Ratio Rank: 5
BNGE Martin Ratio Rank: 5

SMH

SMH Risk / Return Rank: 93
SMH Sharpe Ratio Rank: 95
SMH Sortino Ratio Rank: 89
SMH Omega Ratio Rank: 90
SMH Calmar Ratio Rank: 96
SMH Martin Ratio Rank: 95

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.

BNGE vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust S-Network Streaming and Gaming ETF (BNGE) 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.

	BNGE	SMH	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	3.04	-3.82
Sortino ratio: Return per unit of downside risk	-1.00	3.27	-4.27
Omega ratio: Gain probability vs. loss probability	0.88	1.45	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.49	7.48	-7.97
Martin ratio: Return relative to average drawdown	-0.86	24.06	-24.92

BNGE vs. SMH - Sharpe Ratio Comparison

The current BNGE Sharpe Ratio is -0.78, which is lower than the SMH Sharpe Ratio of 3.04. The chart below compares the historical Sharpe Ratios of BNGE 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

BNGE vs. SMH - Drawdown Comparison

The maximum BNGE drawdown since its inception was -40.54%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for BNGE and SMH.

Drawdown Indicators

	BNGE	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-40.54%	-84.96%	+44.42%
Max Drawdown (1Y) Largest decline over 1 year	-27.88%	-14.93%	-12.95%
Max Drawdown (3Y) Largest decline over 3 years	-27.88%	-35.74%	+7.86%
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	-22.72%	-10.26%	-12.46%
Average Drawdown Average peak-to-trough decline	-14.06%	-40.94%	+26.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.06%	4.63%	+11.43%

Volatility

BNGE vs. SMH - Volatility Comparison

The current volatility for First Trust S-Network Streaming and Gaming ETF (BNGE) is 4.47%, while VanEck Semiconductor ETF (SMH) has a volatility of 17.39%. This indicates that BNGE 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

	BNGE	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	17.39%	-12.92%
Volatility (6M) Calculated over the trailing 6-month period	13.90%	31.28%	-17.38%
Volatility (1Y) Calculated over the trailing 1-year period	17.80%	36.75%	-18.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.98%	36.20%	-11.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.98%	33.15%	-8.17%

BNGE vs. SMH - Expense Ratio Comparison

BNGE has a 0.70% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

BNGE vs. SMH - Dividend Comparison

BNGE's dividend yield for the trailing twelve months is around 0.38%, more than SMH's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNGE First Trust S-Network Streaming and Gaming ETF	0.38%	0.89%	0.01%	0.81%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMH VanEck Semiconductor ETF	0.18%	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 BNGE and SMH in my portfolio?

BNGE and SMH have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNGE or SMH?

SMH has higher volatility (17.39%) compared to BNGE (4.47%). In terms of maximum drawdown, BNGE dropped -40.54% vs SMH's -84.96%.

Which ETF is better, BNGE or SMH?

On 3-year performance, SMH leads with 57.11% vs 11.55% for BNGE. On fees, SMH is cheaper at 0.35% per year. On volatility, BNGE has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNGE or SMH?

Over the 3-year period, SMH has performed better with a 57.11% return vs 11.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNGE or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.70% for BNGE.

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

BNGE has the higher dividend yield at 0.38%, compared with 0.18% for SMH.

What is the main difference between BNGE and SMH?

BNGE is categorized as Technology Equities, while SMH is Semiconductors. BNGE tracks S-Network Streaming & Gaming Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: First Trust and VanEck. Their fees differ too: 0.70% for BNGE and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (3.04 vs -0.78), 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.