CAEM.TO vs. SMH

Last updated Jun 24, 2026

CAEM.TO (Avantis CIBC Emerging Markets Equity ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - CAEM.TO is a Emerging Markets Equities fund actively managed by CIBC, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. CAEM.TO is actively managed, while SMH is passively managed. A 0.79 correlation means they provide meaningful diversification when combined.

Performance

CAEM.TO vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Avantis CIBC Emerging Markets Equity ETF (CAEM.TO) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CAEM.TO is traded in CAD, while SMH is traded in USD. To make them comparable, the SMH values have been converted to CAD using the latest available exchange rates.

Returns By Period

CAEM.TO

• 1D: -4.49%
• 1M: 4.98%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH

• 1D: -7.11%
• 1M: 10.93%
• YTD: 78.58%
• 6M: 76.39%
• 1Y: 145.50%
• 3Y*: 66.35%
• 5Y*: 42.11%
• 10Y*: 39.21%

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

CAEM.TO vs. SMH - Yearly Performance Comparison

	2026 (YTD)
CAEM.TO Avantis CIBC Emerging Markets Equity ETF	19.32%
SMH VanEck Semiconductor ETF	74.78%

Correlation

The correlation between CAEM.TO and SMH is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 31, 2026	0.79

Return for Risk

CAEM.TO vs. SMH — Risk / Return Rank

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

CAEM.TO

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

SMH

SMH Risk / Return Rank: 94
SMH Sharpe Ratio Rank: 96
SMH Sortino Ratio Rank: 91
SMH Omega Ratio Rank: 92
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 96

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.

CAEM.TO vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis CIBC Emerging Markets Equity ETF (CAEM.TO) 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.

	CAEM.TO	SMH	Difference
Sharpe ratio: Return per unit of total volatility	—	4.18	—
Sortino ratio: Return per unit of downside risk	—	4.24	—
Omega ratio: Gain probability vs. loss probability	—	1.60	—
Calmar ratio: Return relative to maximum drawdown	—	10.69	—
Martin ratio: Return relative to average drawdown	—	37.27	—

Drawdowns

CAEM.TO vs. SMH - Drawdown Comparison

The maximum CAEM.TO drawdown since its inception was -6.26%, smaller than the maximum SMH drawdown of -65.72%. Use the drawdown chart below to compare losses from any high point for CAEM.TO and SMH.

Drawdown Indicators

	CAEM.TO	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-6.26%	-65.72%	+59.46%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.69%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-33.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-41.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.26%	—
Current Drawdown Current decline from peak	-4.49%	-7.11%	+2.62%
Average Drawdown Average peak-to-trough decline	-1.17%	-19.92%	+18.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.92%	—

Volatility

Volatility by Period

	CAEM.TO	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	29.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.43%	35.06%	-9.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.43%	36.42%	-10.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	33.75%	-8.32%

Dividends

CAEM.TO vs. SMH - Dividend Comparison

CAEM.TO has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAEM.TO Avantis CIBC Emerging Markets Equity 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	0.18%	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 CAEM.TO and SMH in my portfolio?

CAEM.TO and SMH have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between CAEM.TO and SMH?

CAEM.TO is categorized as Emerging Markets Equities, while SMH is Semiconductors. They also come from different issuers: CIBC and VanEck.