CIAI.TO vs. SMH
Compare and contrast key facts about CI Global Artificial Intelligence ETF (CIAI.TO) and VanEck Semiconductor ETF (SMH).
CIAI.TO and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CIAI.TO is an actively managed fund by CI Investments. It was launched on May 2, 2024. 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
CIAI.TO vs. SMH - Performance Comparison
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CIAI.TO vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CIAI.TO CI Global Artificial Intelligence ETF | -5.51% | 18.84% | 29.92% |
SMH VanEck Semiconductor ETF | 7.90% | 42.33% | 15.46% |
Different Trading Currencies
CIAI.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
In the year-to-date period, CIAI.TO achieves a -5.51% return, which is significantly lower than SMH's 7.90% return.
CIAI.TO
- 1D
- 5.06%
- 1M
- -3.65%
- YTD
- -5.51%
- 6M
- -6.22%
- 1Y
- 34.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH
- 1D
- 5.64%
- 1M
- -3.79%
- YTD
- 7.90%
- 6M
- 17.74%
- 1Y
- 75.81%
- 3Y*
- 44.84%
- 5Y*
- 28.21%
- 10Y*
- 32.16%
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CIAI.TO vs. SMH - Expense Ratio Comparison
CIAI.TO has a 0.50% expense ratio, which is higher than SMH's 0.35% expense ratio.
Return for Risk
CIAI.TO vs. SMH — Risk / Return Rank
CIAI.TO
SMH
CIAI.TO vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Global Artificial Intelligence ETF (CIAI.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.
| CIAI.TO | SMH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.13 | 2.08 | -0.95 |
Sortino ratioReturn per unit of downside risk | 1.65 | 2.65 | -0.99 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.38 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 1.81 | 4.83 | -3.03 |
Martin ratioReturn relative to average drawdown | 5.11 | 16.64 | -11.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CIAI.TO | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 2.08 | -0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.86 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 1.00 | -0.23 |
Correlation
The correlation between CIAI.TO and SMH is 0.80, 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
CIAI.TO vs. SMH - Dividend Comparison
CIAI.TO has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.29%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIAI.TO CI Global Artificial Intelligence 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 | 0.29% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Drawdowns
CIAI.TO vs. SMH - Drawdown Comparison
The maximum CIAI.TO drawdown since its inception was -31.22%, smaller than the maximum SMH drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for CIAI.TO and SMH.
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Drawdown Indicators
| CIAI.TO | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.22% | -84.96% | +53.74% |
Max Drawdown (1Y)Largest decline over 1 year | -18.93% | -15.95% | -2.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.30% | — |
Current DrawdownCurrent decline from peak | -14.83% | -10.03% | -4.80% |
Average DrawdownAverage peak-to-trough decline | -6.86% | -41.36% | +34.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 4.44% | +2.25% |
Volatility
CIAI.TO vs. SMH - Volatility Comparison
The current volatility for CI Global Artificial Intelligence ETF (CIAI.TO) is 10.01%, while VanEck Semiconductor ETF (SMH) has a volatility of 12.13%. This indicates that CIAI.TO 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.
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Volatility by Period
| CIAI.TO | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.01% | 12.13% | -2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 19.28% | 23.85% | -4.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.74% | 36.59% | -5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.71% | 33.11% | -4.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.71% | 30.79% | -2.08% |