CAUV.TO vs. SMH

Last updated Jul 11, 2026

CAUV.TO (Avantis CIBC U.S. Small Cap Value ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - CAUV.TO is a Small Cap Value Equities fund actively managed by Avantis, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. CAUV.TO is actively managed, while SMH is passively managed. At a 0.36 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

CAUV.TO vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Avantis CIBC U.S. Small Cap Value ETF (CAUV.TO) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CAUV.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

CAUV.TO

• 1D: 0.09%
• 1M: 3.27%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH

• 1D: 0.51%
• 1M: 1.81%
• 6M: 60.37%
• YTD: 75.46%
• 1Y: 121.10%
• 3Y*: 63.45%
• 5Y*: 40.83%
• 10Y*: 37.63%

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

CAUV.TO vs. SMH - Yearly Performance Comparison

	2026 (YTD)
CAUV.TO Avantis CIBC U.S. Small Cap Value ETF	9.21%
SMH VanEck Semiconductor ETF	52.34%

Correlation

The correlation between CAUV.TO and SMH is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 23, 2026	0.36

Return for Risk

CAUV.TO vs. SMH — Risk / Return Rank

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

CAUV.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: 95
SMH Sortino Ratio Rank: 90
SMH Omega Ratio Rank: 91
SMH Calmar Ratio Rank: 96
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.

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

This table presents a comparison of risk-adjusted performance metrics for Avantis CIBC U.S. Small Cap Value ETF (CAUV.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.

	CAUV.TO	SMH	Difference
Sharpe ratio: Return per unit of total volatility	—	3.32	—
Sortino ratio: Return per unit of downside risk	—	3.53	—
Omega ratio: Gain probability vs. loss probability	—	1.49	—
Calmar ratio: Return relative to maximum drawdown	—	8.86	—
Martin ratio: Return relative to average drawdown	—	27.87	—

Drawdowns

CAUV.TO vs. SMH - Drawdown Comparison

The maximum CAUV.TO drawdown since its inception was -9.92%, smaller than the maximum SMH drawdown of -65.72%. Use the drawdown chart below to compare losses from any high point for CAUV.TO and SMH.

Drawdown Indicators

	CAUV.TO	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-9.92%	-65.72%	+55.80%
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	-1.27%	-8.73%	+7.46%
Average Drawdown Average peak-to-trough decline	-2.53%	-19.89%	+17.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.35%	—

Volatility

Volatility by Period

	CAUV.TO	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.57%	—
Volatility (6M) Calculated over the trailing 6-month period	—	31.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.66%	36.57%	-19.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	36.72%	-20.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.66%	33.88%	-17.22%

CAUV.TO vs. SMH - Expense Ratio Comparison

Both CAUV.TO and SMH have an expense ratio of 0.35%.

Dividends

CAUV.TO vs. SMH - Dividend Comparison

CAUV.TO's dividend yield for the trailing twelve months is around 0.33%, more than SMH's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAUV.TO Avantis CIBC U.S. Small Cap Value ETF	0.33%	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 CAUV.TO and SMH in my portfolio?

CAUV.TO and SMH have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CAUV.TO or SMH?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAUV.TO or SMH?

CAUV.TO and SMH have the same expense ratio: 0.35% per year.

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

CAUV.TO is categorized as Small Cap Value Equities, while SMH is Semiconductors. They also come from different issuers: Avantis and VanEck.