DARP vs. SMH

Last updated Jul 12, 2026

DARP (Grizzle Growth ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - DARP is a Large Cap Growth Equities fund actively managed by Grizzle, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. DARP is actively managed, while SMH is passively managed. Over the past year, DARP returned 60.52% vs 113.20% for SMH. Their correlation of 0.87 suggests significant overlap in exposure. DARP charges 0.75%/yr vs 0.35%/yr for SMH.

Performance

DARP vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grizzle Growth ETF (DARP) 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, DARP achieves a 27.98% return, which is significantly lower than SMH's 69.67% return.

DARP

• 1D: -0.29%
• 1M: 1.39%
• 6M: 23.92%
• YTD: 27.98%
• 1Y: 60.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH

• 1D: 0.54%
• 1M: -1.44%
• 6M: 56.99%
• YTD: 69.67%
• 1Y: 113.20%
• 3Y*: 59.96%
• 5Y*: 37.42%
• 10Y*: 36.59%

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

DARP vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DARP Grizzle Growth ETF	27.98%	40.19%	24.63%	6.25%
SMH VanEck Semiconductor ETF	69.67%	49.17%	39.10%	18.00%

Correlation

The correlation between DARP and SMH is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Aug 28, 2023	0.87

The correlation between DARP and SMH has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

DARP vs. SMH - Sectors Allocation Comparison

Sectors	DARP	SMH
Technology	48.8%	100.0%
Communication Services	14.3%	-
Consumer Cyclical	8.1%	-
Industrials	8.1%	-
Energy	8.0%	-
Utilities	5.5%	-
Basic Materials	3.9%	-
Healthcare	1.5%	-
Consumer Defensive	-	-
Financial Services	-	-
Real Estate	-	-

Return for Risk

DARP vs. SMH — Risk / Return Rank

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

DARP

DARP Risk / Return Rank: 87
DARP Sharpe Ratio Rank: 90
DARP Sortino Ratio Rank: 81
DARP Omega Ratio Rank: 81
DARP Calmar Ratio Rank: 93
DARP Martin Ratio Rank: 92

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.

DARP vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grizzle Growth ETF (DARP) 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.

	DARP	SMH	Difference
Sharpe ratio: Return per unit of total volatility	2.42	3.13	-0.70
Sortino ratio: Return per unit of downside risk	2.87	3.35	-0.49
Omega ratio: Gain probability vs. loss probability	1.38	1.47	-0.09
Calmar ratio: Return relative to maximum drawdown	5.22	7.62	-2.40
Martin ratio: Return relative to average drawdown	17.78	25.13	-7.36

DARP vs. SMH - Sharpe Ratio Comparison

The current DARP Sharpe Ratio is 2.42, which is comparable to the SMH Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of DARP 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

DARP vs. SMH - Drawdown Comparison

The maximum DARP drawdown since its inception was -30.27%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for DARP and SMH.

Drawdown Indicators

	DARP	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-30.27%	-84.96%	+54.69%
Max Drawdown (1Y) Largest decline over 1 year	-11.82%	-14.93%	+3.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.74%	—
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	-4.27%	-8.65%	+4.38%
Average Drawdown Average peak-to-trough decline	-4.64%	-40.95%	+36.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	4.52%	-1.06%

Volatility

DARP vs. SMH - Volatility Comparison

The current volatility for Grizzle Growth ETF (DARP) is 10.50%, while VanEck Semiconductor ETF (SMH) has a volatility of 18.27%. This indicates that DARP 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

	DARP	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.50%	18.27%	-7.77%
Volatility (6M) Calculated over the trailing 6-month period	20.01%	31.01%	-11.00%
Volatility (1Y) Calculated over the trailing 1-year period	25.47%	36.41%	-10.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.58%	36.12%	-9.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.58%	33.10%	-6.52%

DARP vs. SMH - Expense Ratio Comparison

DARP has a 0.75% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

DARP vs. SMH - Dividend Comparison

DARP's dividend yield for the trailing twelve months is around 0.34%, more than SMH's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DARP Grizzle Growth ETF	0.34%	0.43%	1.93%	0.32%	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 DARP and SMH in my portfolio?

DARP and SMH have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DARP or SMH?

SMH has higher volatility (18.27%) compared to DARP (10.50%). In terms of maximum drawdown, DARP dropped -30.27% vs SMH's -84.96%.

Which ETF is better, DARP or SMH?

On 1-year performance, SMH leads with 113.20% vs 60.52% for DARP. On fees, SMH is cheaper at 0.35% per year. On volatility, DARP has been the lower-risk option at 10.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DARP or SMH?

Over the 1-year period, SMH has performed better with a 113.20% return vs 60.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DARP or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.75% for DARP.

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

DARP has the higher dividend yield at 0.34%, compared with 0.18% for SMH.

What is the main difference between DARP and SMH?

DARP is categorized as Large Cap Growth Equities, while SMH is Semiconductors. They also come from different issuers: Grizzle and VanEck. Their fees differ too: 0.75% for DARP and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (3.13 vs 2.42), 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.