EINC vs. SMH

Last updated Jun 3, 2026

EINC (VanEck Energy Income ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - EINC is a Energy Equities fund tracking the MVIS North America Energy Infrastructure Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 10 years, EINC returned 11.66%/yr vs 37.55%/yr for SMH. At a 0.32 correlation, their price movements are largely independent. EINC charges 0.45%/yr vs 0.35%/yr for SMH.

Performance

EINC vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Energy Income ETF (EINC) 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, EINC achieves a 25.23% return, which is significantly lower than SMH's 75.55% return. Over the past 10 years, EINC has underperformed SMH with an annualized return of 11.66%, while SMH has yielded a comparatively higher 37.55% annualized return.

EINC

• 1D: 1.47%
• 1M: -0.74%
• YTD: 25.23%
• 6M: 25.97%
• 1Y: 27.63%
• 3Y*: 29.35%
• 5Y*: 21.20%
• 10Y*: 11.66%

SMH

• 1D: 4.01%
• 1M: 24.01%
• YTD: 75.55%
• 6M: 76.44%
• 1Y: 160.66%
• 3Y*: 63.68%
• 5Y*: 39.58%
• 10Y*: 37.55%

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

EINC vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EINC VanEck Energy Income ETF	25.23%	7.11%	42.79%	15.55%	19.18%	38.05%	-19.89%	16.98%	-19.85%	-3.45%
SMH VanEck Semiconductor ETF	75.55%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between EINC and SMH is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Mar 14, 2012	0.32

The correlation between EINC and SMH shifts across timeframes, from -0.06 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

EINC vs. SMH - Sectors Allocation Comparison

Sectors	EINC	SMH
Energy	99.5%	-
Industrials	2.5%	-
Utilities	0.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	100.0%

Return for Risk

EINC vs. SMH — Risk / Return Rank

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

EINC

EINC Risk / Return Rank: 58
EINC Sharpe Ratio Rank: 54
EINC Sortino Ratio Rank: 52
EINC Omega Ratio Rank: 52
EINC Calmar Ratio Rank: 72
EINC Martin Ratio Rank: 58

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 98
SMH Sortino Ratio Rank: 95
SMH Omega Ratio Rank: 95
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.

EINC vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Energy Income ETF (EINC) 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.

	EINC	SMH	Difference
Sharpe ratio Return per unit of total volatility	1.89	5.29	-3.40
Sortino ratio Return per unit of downside risk	2.56	5.29	-2.73
Omega ratio Gain probability vs. loss probability	1.33	1.73	-0.40
Calmar ratio Return relative to maximum drawdown	3.70	11.02	-7.32
Martin ratio Return relative to average drawdown	10.32	42.34	-32.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EINC vs. SMH - Sharpe Ratio Comparison

The current EINC Sharpe Ratio is 1.89, which is lower than the SMH Sharpe Ratio of 5.29. The chart below compares the historical Sharpe Ratios of EINC 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

	EINC	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	5.29	-3.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.09	1.14	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	1.16	-0.70
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.34	-0.30

Drawdowns

EINC vs. SMH - Drawdown Comparison

The maximum EINC drawdown since its inception was -87.55%, roughly equal to the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for EINC and SMH.

Drawdown Indicators

	EINC	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-87.55%	-84.96%	-2.59%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-14.93%	+7.04%
Max Drawdown (3Y) Largest decline over 3 years	-16.01%	-35.74%	+19.73%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	-45.30%	+25.43%
Max Drawdown (10Y) Largest decline over 10 years	-68.85%	-45.30%	-23.55%
Current Drawdown Current decline from peak	-5.06%	0.00%	-5.06%
Average Drawdown Average peak-to-trough decline	-44.30%	-41.09%	-3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	3.89%	-1.06%

Volatility

EINC vs. SMH - Volatility Comparison

The current volatility for VanEck Energy Income ETF (EINC) is 6.40%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.59%. This indicates that EINC 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

	EINC	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	11.59%	-5.19%
Volatility (6M) Calculated over the trailing 6-month period	11.56%	24.29%	-12.73%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	30.57%	-15.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.58%	35.02%	-15.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.44%	32.58%	-7.14%

EINC vs. SMH - Expense Ratio Comparison

EINC has a 0.45% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

EINC vs. SMH - Dividend Comparison

EINC's dividend yield for the trailing twelve months is around 3.53%, more than SMH's 0.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EINC VanEck Energy Income ETF	3.53%	4.51%	3.33%	3.77%	2.89%	6.03%	6.69%	9.66%	11.31%	8.53%	9.71%	28.53%
SMH VanEck Semiconductor ETF	0.17%	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 EINC and SMH in my portfolio?

EINC and SMH have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EINC or SMH?

SMH has higher volatility (11.59%) compared to EINC (6.40%). In terms of maximum drawdown, EINC dropped -87.55% vs SMH's -84.96%.

Which ETF is better, EINC or SMH?

On 10-year performance, SMH leads with 37.55% vs 11.66% for EINC. On fees, SMH is cheaper at 0.35% per year. On volatility, EINC has been the lower-risk option at 6.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EINC or SMH?

Over the 10-year period, SMH has performed better with a 37.55% return vs 11.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EINC or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.45% for EINC.

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

EINC has the higher dividend yield at 3.53%, compared with 0.17% for SMH.

What is the main difference between EINC and SMH?

EINC is categorized as Energy Equities, while SMH is Semiconductors. EINC tracks MVIS North America Energy Infrastructure Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. Their fees differ too: 0.45% for EINC and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (5.29 vs 1.89), 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.