GGRW vs. SMH

Last updated Aug 2, 2026

GGRW (Gabelli Growth Innovators ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - GGRW is a Large Cap Growth Equities fund actively managed by Gabelli, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. GGRW is actively managed, while SMH is passively managed. Over the past 5 years, GGRW returned 7.36%/yr vs 33.46%/yr for SMH. Their correlation of 0.82 means they have usually moved in the same direction. GGRW charges 0.90%/yr vs 0.35%/yr for SMH.

Performance

GGRW vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Growth Innovators ETF (GGRW) 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, GGRW achieves a 2.75% return, which is significantly lower than SMH's 50.09% return.

GGRW

• 1D: -0.08%
• 1M: -3.16%
• 6M: 2.98%
• YTD: 2.75%
• 1Y: 7.47%
• 3Y*: 23.05%
• 5Y*: 7.36%
• 10Y*: —
• ALL TIME*: 7.03%

SMH

• 1D: 0.30%
• 1M: -8.74%
• 6M: 33.97%
• YTD: 50.09%
• 1Y: 90.95%
• 3Y*: 50.56%
• 5Y*: 33.46%
• 10Y*: 34.16%
• ALL TIME*: 11.06%

*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)
GGRW Gabelli Growth Innovators ETF	$8.47K	$11.44K	$22.73K
SMH VanEck Semiconductor ETF	$8.28B	$7.64B	$7.07B

GGRW vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GGRW Gabelli Growth Innovators ETF	2.75%	18.29%	41.78%	42.19%	-43.92%	5.40%
SMH VanEck Semiconductor ETF	50.09%	49.17%	39.10%	73.38%	-33.53%	21.95%

Correlation

The correlation between GGRW and SMH is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (All Time) Calculated using the full available price history since Feb 16, 2021	0.82

The correlation between GGRW and SMH has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

GGRW vs. SMH - Sectors Allocation Comparison

Sectors	GGRW	SMH
Technology	39.3%	100.0%
Communication Services	13.1%	-
Industrials	12.1%	-
Financial Services	10.4%	-
Consumer Cyclical	10.3%	-
Healthcare	8.4%	-
Utilities	4.2%	-
Basic Materials	1.3%	-
Consumer Defensive	0.6%	-
Energy	-	-
Real Estate	-	-

Return for Risk

GGRW vs. SMH — Risk / Return Rank

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

GGRW

GGRW Risk / Return Rank: 19
GGRW Sharpe Ratio Rank: 19
GGRW Sortino Ratio Rank: 18
GGRW Omega Ratio Rank: 18
GGRW Calmar Ratio Rank: 18
GGRW Martin Ratio Rank: 22

SMH

SMH Risk / Return Rank: 87
SMH Sharpe Ratio Rank: 91
SMH Sortino Ratio Rank: 83
SMH Omega Ratio Rank: 84
SMH Calmar Ratio Rank: 88
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.

GGRW vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Growth Innovators ETF (GGRW) 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.

	GGRW	SMH	Difference
Sharpe ratio: Return per unit of total volatility	0.35	2.29	-1.95
Sortino ratio: Return per unit of downside risk	0.60	2.70	-2.10
Omega ratio: Gain probability vs. loss probability	1.07	1.36	-0.29
Calmar ratio: Return relative to maximum drawdown	0.43	3.58	-3.15
Martin ratio: Return relative to average drawdown	1.55	14.64	-13.09

GGRW vs. SMH - Sharpe Ratio Comparison

The current GGRW Sharpe Ratio is 0.35, which is lower than the SMH Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of GGRW 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

GGRW vs. SMH - Drawdown Comparison

The maximum GGRW drawdown since its inception was -50.28%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for GGRW and SMH.

Drawdown Indicators

	GGRW	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-50.28%	-84.96%	+34.68%
Max Drawdown (1Y) Largest decline over 1 year	-13.19%	-24.62%	+11.43%
Max Drawdown (3Y) Largest decline over 3 years	-20.53%	-35.74%	+15.21%
Max Drawdown (5Y) Largest decline over 5 years	-50.28%	-45.30%	-4.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.30%	—
Current Drawdown Current decline from peak	-4.71%	-19.19%	+14.48%
Average Drawdown Average peak-to-trough decline	-16.94%	-40.89%	+23.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	6.01%	-2.33%

Volatility

GGRW vs. SMH - Volatility Comparison

The current volatility for Gabelli Growth Innovators ETF (GGRW) is 5.36%, while VanEck Semiconductor ETF (SMH) has a volatility of 14.70%. This indicates that GGRW 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

	GGRW	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	14.70%	-9.34%
Volatility (6M) Calculated over the trailing 6-month period	13.53%	33.13%	-19.60%
Volatility (1Y) Calculated over the trailing 1-year period	16.43%	38.57%	-22.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.47%	36.50%	-11.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	33.32%	-7.94%

GGRW vs. SMH - Expense Ratio Comparison

GGRW has a 0.90% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

GGRW vs. SMH - Dividend Comparison

GGRW's dividend yield for the trailing twelve months is around 0.42%, more than SMH's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGRW Gabelli Growth Innovators ETF	0.42%	0.43%	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 GGRW and SMH in my portfolio?

GGRW and SMH have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GGRW or SMH?

SMH has higher volatility (14.70%) compared to GGRW (5.36%). In terms of maximum drawdown, GGRW dropped -50.28% vs SMH's -84.96%.

Which ETF is better, GGRW or SMH?

On 5-year performance, SMH leads with 33.46% vs 7.36% for GGRW. On fees, SMH is cheaper at 0.35% per year. On volatility, GGRW has been the lower-risk option at 5.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGRW or SMH?

Over the 5-year period, SMH has performed better with a 33.46% return vs 7.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGRW or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.90% for GGRW.

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

GGRW has the higher dividend yield at 0.42%, compared with 0.20% for SMH.

What is the main difference between GGRW and SMH?

GGRW is categorized as Large Cap Growth Equities, while SMH is Semiconductors. They also come from different issuers: Gabelli and VanEck. Their fees differ too: 0.90% for GGRW and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (2.29 vs 0.35), 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.