BTI vs. SMHX

Last updated Aug 6, 2026

BTI (British American Tobacco p.l.c.) is a stock, while SMHX (VanEck Fabless Semiconductor ETF) is Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index. Over the past year, BTI returned 12.24% vs 68.35% for SMHX. Their -0.08 correlation means they have often moved in opposite directions in the past.

Performance

BTI vs. SMHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in British American Tobacco p.l.c. (BTI) and VanEck Fabless Semiconductor ETF (SMHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTI achieves a 7.68% return, which is significantly lower than SMHX's 51.09% return.

BTI

• 1D: 0.25%
• 1M: -2.22%
• 6M: -1.07%
• YTD: 7.68%
• 1Y: 12.24%
• 3Y*: 31.63%
• 5Y*: 18.41%
• 10Y*: 6.41%
• ALL TIME*: 17.61%

SMHX

• 1D: -2.08%
• 1M: -4.66%
• 6M: 53.35%
• YTD: 51.09%
• 1Y: 68.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 52.73%

*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)
BTI British American Tobacco p.l.c.	$247.05M	$249.52M	$268.34M
SMHX VanEck Fabless Semiconductor ETF	$5.05M	$5.75M	$8.39M

BTI vs. SMHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTI British American Tobacco p.l.c.	7.68%	65.81%	1.86%
SMHX VanEck Fabless Semiconductor ETF	51.09%	30.00%	15.56%

Correlation

The correlation between BTI and SMHX is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.09
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024	-0.08

Return for Risk

BTI vs. SMHX — Risk / Return Rank

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

BTI

BTI Risk / Return Rank: 58
BTI Sharpe Ratio Rank: 60
BTI Sortino Ratio Rank: 55
BTI Omega Ratio Rank: 51
BTI Calmar Ratio Rank: 63
BTI Martin Ratio Rank: 62

SMHX

SMHX Risk / Return Rank: 61
SMHX Sharpe Ratio Rank: 64
SMHX Sortino Ratio Rank: 56
SMHX Omega Ratio Rank: 55
SMHX Calmar Ratio Rank: 69
SMHX Martin Ratio Rank: 61

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.

BTI vs. SMHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for British American Tobacco p.l.c. (BTI) 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.

	BTI	SMHX	Difference
Sharpe ratio: Return per unit of total volatility	0.50	1.72	-1.22
Sortino ratio: Return per unit of downside risk	0.89	2.21	-1.32
Omega ratio: Gain probability vs. loss probability	1.10	1.28	-0.18
Calmar ratio: Return relative to maximum drawdown	0.89	2.76	-1.86
Martin ratio: Return relative to average drawdown	1.80	8.39	-6.59

BTI vs. SMHX - Sharpe Ratio Comparison

The current BTI Sharpe Ratio is 0.50, which is lower than the SMHX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of BTI and SMHX, 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

BTI vs. SMHX - Drawdown Comparison

The maximum BTI drawdown since its inception was -64.11%, which is greater than SMHX's maximum drawdown of -38.53%. Use the drawdown chart below to compare losses from any high point for BTI and SMHX.

Drawdown Indicators

	BTI	SMHX	Difference
Max Drawdown Largest peak-to-trough decline	-64.11%	-38.53%	-25.58%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-24.93%	+11.18%
Max Drawdown (3Y) Largest decline over 3 years	-13.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-56.00%	—	—
Current Drawdown Current decline from peak	-9.90%	-15.33%	+5.43%
Average Drawdown Average peak-to-trough decline	-12.92%	-7.77%	-5.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.83%	8.17%	-1.34%

Volatility

BTI vs. SMHX - Volatility Comparison

The current volatility for British American Tobacco p.l.c. (BTI) is 10.23%, while VanEck Fabless Semiconductor ETF (SMHX) has a volatility of 14.71%. This indicates that BTI 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.

Volatility by Period

	BTI	SMHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.23%	14.71%	-4.48%
Volatility (6M) Calculated over the trailing 6-month period	20.36%	33.60%	-13.24%
Volatility (1Y) Calculated over the trailing 1-year period	24.67%	39.89%	-15.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.64%	42.10%	-20.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.29%	42.10%	-17.81%

Dividends

BTI vs. SMHX - Dividend Comparison

BTI's dividend yield for the trailing twelve months is around 5.34%, more than SMHX's 0.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTI British American Tobacco p.l.c.	5.34%	5.29%	8.18%	9.72%	7.23%	7.98%	7.22%	6.35%	8.53%	4.27%	3.85%	4.11%
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

Can I hold both BTI and SMHX in my portfolio?

BTI and SMHX have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTI or SMHX?

SMHX has higher volatility (14.71%) compared to BTI (10.23%). In terms of maximum drawdown, BTI dropped -64.11% vs SMHX's -38.53%.

Which has better risk-adjusted returns?

SMHX currently has the higher Sharpe Ratio (1.72 vs 0.50), 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.