DRAM vs. SMHX

Last updated Jun 4, 2026

DRAM (Roundhill Memory ETF) and SMHX (VanEck Fabless Semiconductor ETF) are both exchange-traded funds - DRAM is a Technology Equities fund actively managed by Roundhill, while SMHX is a Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index. DRAM is actively managed, while SMHX is passively managed. A 0.58 correlation means they provide meaningful diversification when combined. DRAM charges 0.65%/yr vs 0.35%/yr for SMHX.

Performance

DRAM vs. SMHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Memory ETF (DRAM) and VanEck Fabless Semiconductor ETF (SMHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DRAM

• 1D: 0.20%
• 1M: 64.14%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMHX

• 1D: 0.94%
• 1M: 33.64%
• YTD: 78.44%
• 6M: 72.62%
• 1Y: 139.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRAM vs. SMHX - Yearly Performance Comparison

	2026 (YTD)
DRAM Roundhill Memory ETF	151.12%
SMHX VanEck Fabless Semiconductor ETF	78.06%

Correlation

The correlation between DRAM and SMHX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 6, 2026	0.58

DRAM vs. SMHX - Sectors Allocation Comparison

Sectors	DRAM	SMHX
Technology	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

DRAM vs. SMHX — Risk / Return Rank

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

SMHX

SMHX Risk / Return Rank: 93
SMHX Sharpe Ratio Rank: 96
SMHX Sortino Ratio Rank: 92
SMHX Omega Ratio Rank: 90
SMHX Calmar Ratio Rank: 95
SMHX Martin Ratio Rank: 92

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.

DRAM vs. SMHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Memory ETF (DRAM) and VanEck Fabless Semiconductor ETF (SMHX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DRAM	SMHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.30	—
Sharpe Ratio (All Time) Calculated using the full available price history	341.95	1.94	+340.01

Drawdowns

DRAM vs. SMHX - Drawdown Comparison

The maximum DRAM drawdown since its inception was -10.46%, smaller than the maximum SMHX drawdown of -38.53%. Use the drawdown chart below to compare losses from any high point for DRAM and SMHX.

Drawdown Indicators

	DRAM	SMHX	Difference
Max Drawdown Largest peak-to-trough decline	-10.46%	-38.53%	+28.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-17.06%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.64%	-7.33%	+5.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.05%	—

Volatility

Volatility by Period

	DRAM	SMHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.81%	—
Volatility (6M) Calculated over the trailing 6-month period	—	25.06%	—
Volatility (1Y) Calculated over the trailing 1-year period	73.92%	32.69%	+41.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.92%	39.97%	+33.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.92%	39.97%	+33.95%

DRAM vs. SMHX - Expense Ratio Comparison

DRAM has a 0.65% expense ratio, which is higher than SMHX's 0.35% expense ratio.

Dividends

DRAM vs. SMHX - Dividend Comparison

DRAM has not paid dividends to shareholders, while SMHX's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024
DRAM Roundhill Memory ETF	0.00%	0.00%	0.00%
SMHX VanEck Fabless Semiconductor ETF	0.01%	0.02%	0.04%

Frequently Asked Questions

Can I hold both DRAM and SMHX in my portfolio?

DRAM and SMHX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DRAM or SMHX?

On fees, SMHX is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DRAM or SMHX?

SMHX is cheaper with a 0.35% expense ratio, compared with 0.65% for DRAM.

Which ETF pays a higher dividend yield, DRAM or SMHX?

SMHX has the higher dividend yield at 0.01%, compared with 0.00% for DRAM.

What is the main difference between DRAM and SMHX?

DRAM is categorized as Technology Equities, while SMHX is Semiconductors. They also come from different issuers: Roundhill and VanEck. Their fees differ too: 0.65% for DRAM and 0.35% for SMHX.