DARP vs. SMH

Last updated Apr 2, 2026

Compare and contrast key facts about Grizzle Growth ETF (DARP) and VanEck Semiconductor ETF (SMH).

DARP and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DARP is an actively managed fund by Grizzle. It was launched on Dec 15, 2021. 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

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.

DARP vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DARP Grizzle Growth ETF	5.52%	40.19%	24.63%	6.25%
SMH VanEck Semiconductor ETF	8.84%	49.17%	39.10%	16.56%

Returns By Period

In the year-to-date period, DARP achieves a 5.52% return, which is significantly lower than SMH's 8.84% return.

DARP

• 1D: 1.18%
• 1M: -6.55%
• YTD: 5.52%
• 6M: 12.87%
• 1Y: 64.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH

• 1D: 2.24%
• 1M: -3.55%
• YTD: 8.84%
• 6M: 17.83%
• 1Y: 85.04%
• 3Y*: 44.53%
• 5Y*: 26.15%
• 10Y*: 31.58%

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

DARP vs. SMH - Expense Ratio Comparison

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

DARP

Grizzle Growth ETF

SMH

VanEck Semiconductor ETF

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: 93
DARP Sharpe Ratio Rank: 92
DARP Sortino Ratio Rank: 91
DARP Omega Ratio Rank: 90
DARP Calmar Ratio Rank: 95
DARP Martin Ratio Rank: 95

SMH

SMH Risk / Return Rank: 95
SMH Sharpe Ratio Rank: 94
SMH Sortino Ratio Rank: 93
SMH Omega Ratio Rank: 92
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 97

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.

	DARP	SMH	Difference
Sharpe ratio Return per unit of total volatility	2.19	2.32	-0.13
Sortino ratio Return per unit of downside risk	2.74	2.92	-0.19
Omega ratio Gain probability vs. loss probability	1.40	1.41	-0.02
Calmar ratio Return relative to maximum drawdown	4.15	5.39	-1.24
Martin ratio Return relative to average drawdown	17.03	19.22	-2.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DARP vs. SMH - Sharpe Ratio Comparison

The current DARP Sharpe Ratio is 2.19, which is comparable to the SMH Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of DARP and SMH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DARP	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	2.32	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.28	+0.85

Correlation

The correlation between DARP and SMH is 0.87, 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

DARP vs. SMH - Dividend Comparison

DARP's dividend yield for the trailing twelve months is around 0.41%, more than SMH's 0.28% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DARP Grizzle Growth ETF	0.41%	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	0.28%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%

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	-15.92%	-15.95%	+0.03%
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	-8.02%	-8.02%	0.00%
Average Drawdown Average peak-to-trough decline	-4.84%	-41.35%	+36.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.88%	4.47%	-0.59%

Volatility

DARP vs. SMH - Volatility Comparison

The current volatility for Grizzle Growth ETF (DARP) is 9.11%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.74%. 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	9.11%	11.74%	-2.63%
Volatility (6M) Calculated over the trailing 6-month period	19.29%	24.02%	-4.73%
Volatility (1Y) Calculated over the trailing 1-year period	29.51%	36.88%	-7.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.41%	34.68%	-8.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.41%	32.29%	-5.88%