ENVA vs. SMH

Last updated Aug 4, 2026

ENVA (Enova International, Inc.) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, ENVA returned 39.67%/yr vs 33.99%/yr for SMH. Their 0.36 correlation means their historical movements had little consistent relationship.

Performance

ENVA vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Enova International, Inc. (ENVA) 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, ENVA achieves a 64.48% return, which is significantly higher than SMH's 51.46% return. Over the past 10 years, ENVA has outperformed SMH with an annualized return of 39.67%, while SMH has yielded a comparatively lower 33.99% annualized return.

ENVA

• 1D: 1.74%
• 1M: 9.94%
• 6M: 50.01%
• YTD: 64.48%
• 1Y: 157.13%
• 3Y*: 67.43%
• 5Y*: 52.21%
• 10Y*: 39.67%
• ALL TIME*: 19.65%

SMH

• 1D: 0.91%
• 1M: -7.91%
• 6M: 33.70%
• YTD: 51.46%
• 1Y: 92.69%
• 3Y*: 53.04%
• 5Y*: 32.99%
• 10Y*: 33.99%
• ALL TIME*: 11.09%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ENVA Enova International, Inc.	$104.49M	$88.09M	$73.14M
SMH VanEck Semiconductor ETF	$8.29B	$7.23B	$7.12B

ENVA vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENVA Enova International, Inc.	64.48%	63.95%	73.19%	44.28%	-6.32%	65.36%	2.95%	23.64%	28.03%	21.12%
SMH VanEck Semiconductor ETF	51.46%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between ENVA and SMH is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.25
Correlation (3Y) Balances recent behavior with more history.	0.31
Correlation (5Y) Shows whether the relationship held over a longer period.	0.40
Correlation (10Y) Provides a long-term view across more market conditions.	0.36
Correlation (All Time) Calculated using the full available price history since Nov 13, 2014	0.36

The correlation between ENVA and SMH shifts across timeframes, from 0.25 (1 year) to 0.40 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ENVA vs. SMH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ENVA

ENVA Risk / Return Rank: 97
ENVA Sharpe Ratio Rank: 99
ENVA Sortino Ratio Rank: 98
ENVA Omega Ratio Rank: 97
ENVA Calmar Ratio Rank: 97
ENVA Martin Ratio Rank: 97

SMH

SMH Risk / Return Rank: 88
SMH Sharpe Ratio Rank: 92
SMH Sortino Ratio Rank: 84
SMH Omega Ratio Rank: 85
SMH Calmar Ratio Rank: 89
SMH Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ENVA vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enova International, Inc. (ENVA) 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.

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.

	ENVA	SMH	Difference
Sharpe ratio: Return per unit of total volatility	3.96	2.43	+1.53
Sortino ratio: Return per unit of downside risk	4.37	2.80	+1.57
Omega ratio: Gain probability vs. loss probability	1.55	1.37	+0.17
Calmar ratio: Return relative to maximum drawdown	6.39	3.79	+2.60
Martin ratio: Return relative to average drawdown	17.20	15.18	+2.01

ENVA vs. SMH - Sharpe Ratio Comparison

The current ENVA Sharpe Ratio is 3.96, which is higher than the SMH Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of ENVA 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.

Drawdowns

ENVA vs. SMH - Drawdown Comparison

The maximum ENVA drawdown since its inception was -84.26%, roughly equal to the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for ENVA and SMH.

Drawdown Indicators

	ENVA	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-84.26%	-84.96%	+0.70%
Max Drawdown (1Y) Largest decline over 1 year	-24.75%	-24.62%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-35.11%	-35.74%	+0.63%
Max Drawdown (5Y) Largest decline over 5 years	-42.84%	-45.30%	+2.46%
Max Drawdown (10Y) Largest decline over 10 years	-77.57%	-45.30%	-32.27%
Current Drawdown Current decline from peak	0.00%	-18.46%	+18.46%
Average Drawdown Average peak-to-trough decline	-31.48%	-40.89%	+9.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.18%	6.13%	+3.05%

Volatility

ENVA vs. SMH - Volatility Comparison

Enova International, Inc. (ENVA) and VanEck Semiconductor ETF (SMH) have volatilities of 14.67% and 14.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENVA	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.67%	14.15%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	29.64%	32.94%	-3.30%
Volatility (1Y) Calculated over the trailing 1-year period	40.03%	38.50%	+1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.47%	36.51%	+3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.92%	33.33%	+15.59%

Dividends

ENVA vs. SMH - Dividend Comparison

ENVA has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENVA Enova International, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMH VanEck Semiconductor ETF	0.20%	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 ENVA and SMH in my portfolio?

ENVA and SMH have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ENVA or SMH?

ENVA has higher volatility (14.67%) compared to SMH (14.15%). In terms of maximum drawdown, ENVA dropped -84.26% vs SMH's -84.96%.

Which has better risk-adjusted returns?

ENVA currently has the higher Sharpe Ratio (3.96 vs 2.43), 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.