DIVO vs. SMH

Last updated Jun 9, 2026

DIVO (Amplify CWP Enhanced Dividend Income ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - DIVO is a Derivative Income fund actively managed by Amplify, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. DIVO is actively managed, while SMH is passively managed. Over the past 5 years, DIVO returned 10.72%/yr vs 37.89%/yr for SMH. A 0.51 correlation means they provide meaningful diversification when combined. DIVO charges 0.56%/yr vs 0.35%/yr for SMH.

Performance

DIVO vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify CWP Enhanced Dividend Income ETF (DIVO) 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, DIVO achieves a 5.28% return, which is significantly lower than SMH's 66.10% return.

DIVO

• 1D: -0.30%
• 1M: 1.64%
• YTD: 5.28%
• 6M: 5.66%
• 1Y: 17.72%
• 3Y*: 15.15%
• 5Y*: 10.72%
• 10Y*: —

SMH

• 1D: 5.00%
• 1M: 5.58%
• YTD: 66.10%
• 6M: 62.81%
• 1Y: 137.42%
• 3Y*: 60.43%
• 5Y*: 37.89%
• 10Y*: 36.92%

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

DIVO vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVO Amplify CWP Enhanced Dividend Income ETF	5.28%	17.40%	16.22%	6.95%	-1.46%	22.87%	12.40%	24.90%	-3.18%	21.41%
SMH VanEck Semiconductor ETF	66.10%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between DIVO and SMH is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Dec 15, 2016	0.51

The correlation between DIVO and SMH shifts across timeframes, from 0.35 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

DIVO vs. SMH - Sectors Allocation Comparison

Sectors	DIVO	SMH
Financial Services	29.6%	-
Industrials	16.0%	-
Technology	15.6%	100.0%
Consumer Cyclical	11.5%	-
Consumer Defensive	6.9%	-
Energy	6.7%	-
Healthcare	6.6%	-
Basic Materials	4.2%	-
Utilities	1.9%	-
Communication Services	1.0%	-
Real Estate	-	-

Return for Risk

DIVO vs. SMH — Risk / Return Rank

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

DIVO

DIVO Risk / Return Rank: 66
DIVO Sharpe Ratio Rank: 66
DIVO Sortino Ratio Rank: 72
DIVO Omega Ratio Rank: 63
DIVO Calmar Ratio Rank: 66
DIVO Martin Ratio Rank: 65

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 97
SMH Sortino Ratio Rank: 93
SMH Omega Ratio Rank: 94
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.

DIVO vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify CWP Enhanced Dividend Income ETF (DIVO) 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.

	DIVO	SMH	Difference
Sharpe ratio: Return per unit of total volatility	1.96	4.27	-2.31
Sortino ratio: Return per unit of downside risk	2.91	4.33	-1.42
Omega ratio: Gain probability vs. loss probability	1.34	1.62	-0.28
Calmar ratio: Return relative to maximum drawdown	2.99	9.26	-6.27
Martin ratio: Return relative to average drawdown	10.79	34.80	-24.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIVO vs. SMH - Sharpe Ratio Comparison

The current DIVO Sharpe Ratio is 1.96, which is lower than the SMH Sharpe Ratio of 4.27. The chart below compares the historical Sharpe Ratios of DIVO 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.

Sharpe Ratios by Period

	DIVO	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	4.27	-2.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	1.08	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.33	+0.51

Drawdowns

DIVO vs. SMH - Drawdown Comparison

The maximum DIVO drawdown since its inception was -30.04%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for DIVO and SMH.

Drawdown Indicators

	DIVO	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-30.04%	-84.96%	+54.92%
Max Drawdown (1Y) Largest decline over 1 year	-5.95%	-14.93%	+8.98%
Max Drawdown (3Y) Largest decline over 3 years	-12.12%	-35.74%	+23.62%
Max Drawdown (5Y) Largest decline over 5 years	-13.72%	-45.30%	+31.58%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.30%	—
Current Drawdown Current decline from peak	-1.27%	-6.23%	+4.96%
Average Drawdown Average peak-to-trough decline	-2.61%	-41.07%	+38.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	3.96%	-2.31%

Volatility

DIVO vs. SMH - Volatility Comparison

The current volatility for Amplify CWP Enhanced Dividend Income ETF (DIVO) is 2.30%, while VanEck Semiconductor ETF (SMH) has a volatility of 15.45%. This indicates that DIVO 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

	DIVO	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.30%	15.45%	-13.15%
Volatility (6M) Calculated over the trailing 6-month period	7.02%	26.71%	-19.69%
Volatility (1Y) Calculated over the trailing 1-year period	9.09%	32.42%	-23.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.95%	35.32%	-23.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.84%	32.75%	-17.91%

DIVO vs. SMH - Expense Ratio Comparison

DIVO has a 0.56% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

DIVO vs. SMH - Dividend Comparison

DIVO's dividend yield for the trailing twelve months is around 6.43%, more than SMH's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIVO Amplify CWP Enhanced Dividend Income ETF	6.43%	6.44%	4.70%	4.67%	4.76%	4.79%	4.91%	8.16%	5.27%	3.83%	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 DIVO and SMH in my portfolio?

DIVO and SMH have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVO or SMH?

SMH has higher volatility (15.45%) compared to DIVO (2.30%). In terms of maximum drawdown, DIVO dropped -30.04% vs SMH's -84.96%.

Which ETF is better, DIVO or SMH?

On 5-year performance, SMH leads with 37.89% vs 10.72% for DIVO. On fees, SMH is cheaper at 0.35% per year. On volatility, DIVO has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVO or SMH?

Over the 5-year period, SMH has performed better with a 37.89% return vs 10.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVO or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.56% for DIVO.

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

DIVO has the higher dividend yield at 6.43%, compared with 0.18% for SMH.

What is the main difference between DIVO and SMH?

DIVO is categorized as Derivative Income, while SMH is Semiconductors. They also come from different issuers: Amplify and VanEck. Their fees differ too: 0.56% for DIVO and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (4.27 vs 1.96), 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.