GFOF vs. SMH
Compare and contrast key facts about Grayscale Future of Finance ETF (GFOF) and VanEck Vectors Semiconductor ETF (SMH).
GFOF and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GFOF is a passively managed fund by Grayscale that tracks the performance of the Bloomberg Grayscale Future of Finance Index. It was launched on Feb 1, 2022. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. Both GFOF and SMH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GFOF or SMH.
Key characteristics
| GFOF | SMH | |
|---|---|---|
| YTD Return | -10.50% | 24.51% |
| 1Y Return | 54.14% | 79.83% |
| Sharpe Ratio | 0.96 | 2.78 |
| Daily Std Dev | 57.96% | 28.53% |
| Max Drawdown | -75.18% | -95.73% |
| Current Drawdown | -42.50% | -7.02% |
Correlation
The correlation between GFOF and SMH is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
GFOF vs. SMH - Performance Comparison
In the year-to-date period, GFOF achieves a -10.50% return, which is significantly lower than SMH's 24.51% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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GFOF vs. SMH - Expense Ratio Comparison
GFOF has a 0.70% expense ratio, which is higher than SMH's 0.35% expense ratio.
Risk-Adjusted Performance
GFOF vs. SMH - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Future of Finance ETF (GFOF) and VanEck Vectors 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.
Dividends
GFOF vs. SMH - Dividend Comparison
GFOF's dividend yield for the trailing twelve months is around 4.55%, more than SMH's 0.48% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GFOF Grayscale Future of Finance ETF | 4.55% | 4.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMH VanEck Vectors Semiconductor ETF | 0.48% | 0.60% | 2.37% | 1.02% | 1.38% | 6.00% | 3.75% | 2.85% | 1.61% | 4.28% | 2.31% | 3.11% |
Drawdowns
GFOF vs. SMH - Drawdown Comparison
The maximum GFOF drawdown since its inception was -75.18%, smaller than the maximum SMH drawdown of -95.73%. Use the drawdown chart below to compare losses from any high point for GFOF and SMH. For additional features, visit the drawdowns tool.
Volatility
GFOF vs. SMH - Volatility Comparison
Grayscale Future of Finance ETF (GFOF) has a higher volatility of 14.86% compared to VanEck Vectors Semiconductor ETF (SMH) at 10.09%. This indicates that GFOF's price experiences larger fluctuations and is considered to be riskier than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.