EMET vs. SMHX

Last updated Jun 24, 2026

EMET (VanEck Copper and Green Metals ETF) and SMHX (VanEck Fabless Semiconductor ETF) are both exchange-traded funds - EMET is a Copper fund tracking the MVIS Global Clean-Tech Metals Index, while SMHX is a Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index. Both are passively managed. Over the past year, EMET returned 87.54% vs 113.51% for SMHX. At a 0.49 correlation, their price movements are largely independent. EMET charges 0.61%/yr vs 0.35%/yr for SMHX.

Performance

EMET vs. SMHX - Performance Comparison

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

Returns By Period

In the year-to-date period, EMET achieves a 11.62% return, which is significantly lower than SMHX's 64.32% return.

EMET

• 1D: -5.73%
• 1M: -5.77%
• YTD: 11.62%
• 6M: 11.02%
• 1Y: 87.54%
• 3Y*: 18.09%
• 5Y*: —
• 10Y*: —

SMHX

• 1D: -5.60%
• 1M: 3.65%
• YTD: 64.32%
• 6M: 61.18%
• 1Y: 113.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMET vs. SMHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMET VanEck Copper and Green Metals ETF	11.62%	81.22%	-10.37%
SMHX VanEck Fabless Semiconductor ETF	64.32%	30.00%	15.56%

Correlation

The correlation between EMET and SMHX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024	0.49

The correlation between EMET and SMHX has been stable across timeframes, ranging from 0.49 to 0.51 - a consistent structural relationship.

Return for Risk

EMET vs. SMHX — Risk / Return Rank

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

EMET

EMET Risk / Return Rank: 69
EMET Sharpe Ratio Rank: 78
EMET Sortino Ratio Rank: 62
EMET Omega Ratio Rank: 65
EMET Calmar Ratio Rank: 73
EMET Martin Ratio Rank: 66

SMHX

SMHX Risk / Return Rank: 87
SMHX Sharpe Ratio Rank: 92
SMHX Sortino Ratio Rank: 80
SMHX Omega Ratio Rank: 81
SMHX Calmar Ratio Rank: 94
SMHX Martin Ratio Rank: 87

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.

EMET vs. SMHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Copper and Green Metals ETF (EMET) 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.

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.

	EMET	SMHX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	3.11	-0.81
Sortino ratio: Return per unit of downside risk	2.67	3.36	-0.69
Omega ratio: Gain probability vs. loss probability	1.36	1.46	-0.10
Calmar ratio: Return relative to maximum drawdown	3.44	6.69	-3.25
Martin ratio: Return relative to average drawdown	11.10	17.96	-6.86

EMET vs. SMHX - Sharpe Ratio Comparison

The current EMET Sharpe Ratio is 2.30, which is comparable to the SMHX Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of EMET and SMHX, 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

EMET vs. SMHX - Drawdown Comparison

The maximum EMET drawdown since its inception was -53.05%, which is greater than SMHX's maximum drawdown of -38.53%. Use the drawdown chart below to compare losses from any high point for EMET and SMHX.

Drawdown Indicators

	EMET	SMHX	Difference
Max Drawdown Largest peak-to-trough decline	-53.05%	-38.53%	-14.52%
Max Drawdown (1Y) Largest decline over 1 year	-25.58%	-17.06%	-8.52%
Max Drawdown (3Y) Largest decline over 3 years	-40.50%	—	—
Current Drawdown Current decline from peak	-15.40%	-7.91%	-7.49%
Average Drawdown Average peak-to-trough decline	-24.65%	-7.34%	-17.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.91%	6.34%	+1.57%

Volatility

EMET vs. SMHX - Volatility Comparison

The current volatility for VanEck Copper and Green Metals ETF (EMET) is 15.63%, while VanEck Fabless Semiconductor ETF (SMHX) has a volatility of 19.93%. This indicates that EMET experiences smaller price fluctuations and is considered to be less risky than SMHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMET	SMHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.63%	19.93%	-4.30%
Volatility (6M) Calculated over the trailing 6-month period	33.60%	29.76%	+3.84%
Volatility (1Y) Calculated over the trailing 1-year period	38.24%	36.70%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.37%	41.48%	-8.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.37%	41.48%	-8.11%

EMET vs. SMHX - Expense Ratio Comparison

EMET has a 0.61% expense ratio, which is higher than SMHX's 0.35% expense ratio.

Dividends

EMET vs. SMHX - Dividend Comparison

EMET's dividend yield for the trailing twelve months is around 1.65%, more than SMHX's 0.01% yield.

Position	TTM	2025	2024	2023	2022
EMET VanEck Copper and Green Metals ETF	1.65%	1.84%	1.89%	2.02%	2.56%
SMHX VanEck Fabless Semiconductor ETF	0.01%	0.02%	0.04%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMET and SMHX in my portfolio?

EMET and SMHX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMET or SMHX?

SMHX has higher volatility (19.93%) compared to EMET (15.63%). In terms of maximum drawdown, EMET dropped -53.05% vs SMHX's -38.53%.

Which ETF is better, EMET or SMHX?

On 1-year performance, SMHX leads with 113.51% vs 87.54% for EMET. On fees, SMHX is cheaper at 0.35% per year. On volatility, EMET has been the lower-risk option at 15.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMET or SMHX?

Over the 1-year period, SMHX has performed better with a 113.51% return vs 87.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMET or SMHX?

SMHX is cheaper with a 0.35% expense ratio, compared with 0.61% for EMET.

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

EMET has the higher dividend yield at 1.65%, compared with 0.01% for SMHX.

What is the main difference between EMET and SMHX?

EMET is categorized as Copper, while SMHX is Semiconductors. EMET tracks MVIS Global Clean-Tech Metals Index, while SMHX tracks MarketVector™ US Listed Fabless Semiconductor Index. Their fees differ too: 0.61% for EMET and 0.35% for SMHX.

Which has better risk-adjusted returns?

SMHX currently has the higher Sharpe Ratio (3.11 vs 2.30), 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.