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HDV vs. SMH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDV vs. SMH

Last updated Jun 16, 2026

HDV (iShares Core High Dividend ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 10 years, HDV returned 9.36%/yr vs 38.18%/yr for SMH. At a 0.45 correlation, their price movements are largely independent. HDV charges 0.08%/yr vs 0.35%/yr for SMH.

Performance

HDV vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core High Dividend ETF (HDV) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HDV achieves a 14.11% return, which is significantly lower than SMH's 79.69% return. Over the past 10 years, HDV has underperformed SMH with an annualized return of 9.36%, while SMH has yielded a comparatively higher 38.18% annualized return.

HDV

1D
-1.03%
1M
1.04%
YTD
14.11%
6M
13.57%
1Y
20.60%
3Y*
14.34%
5Y*
10.83%
10Y*
9.36%

SMH

1D
4.38%
1M
16.31%
YTD
79.69%
6M
83.94%
1Y
152.58%
3Y*
62.32%
5Y*
39.72%
10Y*
38.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDV vs. SMH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HDV
iShares Core High Dividend ETF		14.11%11.90%14.16%1.72%7.05%19.45%-6.48%20.22%-3.01%13.40%
SMH
VanEck Semiconductor ETF		79.69%49.17%39.10%73.38%-33.53%42.13%55.53%64.45%-9.05%38.48%

Correlation

The correlation between HDV 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

0.06

Correlation (5Y)
Calculated over the trailing 5-year period

0.25

Correlation (10Y)
Calculated over the trailing 10-year period

0.37

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2011

0.45

The correlation between HDV and SMH shifts across timeframes, from -0.06 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.

HDV vs. SMH - Sectors Allocation Comparison

Sectors
HDV
SMH

Consumer Defensive

24.2%

-

Energy

21.0%

-

Healthcare

17.0%

-

Financial Services

10.8%

-

Technology

9.7%
100.0%

Utilities

8.9%

-

Consumer Cyclical

6.0%

-

Industrials

1.3%

-

Basic Materials

1.1%

-

Communication Services

0.1%

-

Real Estate

-

-

Consumer Defensive

HDV
24.2%
SMH

-

Energy

HDV
21.0%
SMH

-

Healthcare

HDV
17.0%
SMH

-

Financial Services

HDV
10.8%
SMH

-

Technology

HDV
9.7%
SMH
100.0%

Utilities

HDV
8.9%
SMH

-

Consumer Cyclical

HDV
6.0%
SMH

-

Industrials

HDV
1.3%
SMH

-

Basic Materials

HDV
1.1%
SMH

-

Communication Services

HDV
0.1%
SMH

-

Real Estate

HDV

-

SMH

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core High Dividend ETF

VanEck Semiconductor ETF

Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK

Return for Risk

HDV vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDV
HDV Risk / Return Rank: 7474
Overall Rank
HDV Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 7979
Sortino Ratio Rank
HDV Omega Ratio Rank: 6868
Omega Ratio Rank
HDV Calmar Ratio Rank: 8383
Calmar Ratio Rank
HDV Martin Ratio Rank: 6767
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 9696
Overall Rank
SMH Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9595
Sortino Ratio Rank
SMH Omega Ratio Rank: 9595
Omega Ratio Rank
SMH Calmar Ratio Rank: 9797
Calmar Ratio Rank
SMH Martin Ratio Rank: 9797
Martin Ratio Rank
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.

HDV vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) 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.

HDVSMHDifference
Sharpe ratioReturn per unit of total volatility
2.12
4.61

-2.49

Sortino ratioReturn per unit of downside risk
3.12
4.60

-1.48

Omega ratioGain probability vs. loss probability

1.36

1.65

-0.29

Calmar ratioReturn relative to maximum drawdown

4.00

10.28

-6.29

Martin ratioReturn relative to average drawdown

11.07

37.77

-26.69

HDV vs. SMH - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 2.12, which is lower than the SMH Sharpe Ratio of 4.61. The chart below compares the historical Sharpe Ratios of HDV 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.

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Drawdowns

HDV vs. SMH - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for HDV and SMH.

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Drawdown Indicators

HDVSMHDifference

Max Drawdown

Largest peak-to-trough decline

-37.04%

-84.96%

+47.92%

Max Drawdown (1Y)

Largest decline over 1 year

-5.18%

-14.93%

+9.75%

Max Drawdown (3Y)

Largest decline over 3 years

-10.49%

-35.74%

+25.25%

Max Drawdown (5Y)

Largest decline over 5 years

-15.42%

-45.30%

+29.88%

Max Drawdown (10Y)

Largest decline over 10 years

-37.04%

-45.30%

+8.26%

Current Drawdown

Current decline from peak

-1.31%

0.00%

-1.31%

Average Drawdown

Average peak-to-trough decline

-3.08%

-41.04%

+37.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.87%

4.06%

-2.19%

Volatility

HDV vs. SMH - Volatility Comparison

The current volatility for iShares Core High Dividend ETF (HDV) is 3.28%, while VanEck Semiconductor ETF (SMH) has a volatility of 16.71%. This indicates that HDV 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.

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Volatility by Period

HDVSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.28%

16.71%

-13.43%

Volatility (6M)

Calculated over the trailing 6-month period

7.53%

27.97%

-20.44%

Volatility (1Y)

Calculated over the trailing 1-year period

9.79%

33.39%

-23.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.84%

35.53%

-22.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.74%

32.86%

-17.12%

HDV vs. SMH - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than SMH's 0.35% expense ratio.

Dividends

HDV vs. SMH - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 3.56%, more than SMH's 0.17% yield.

PositionTTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		3.56%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
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

HDV 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.

SMH has higher volatility (16.71%) compared to HDV (3.28%). In terms of maximum drawdown, HDV dropped -37.04% vs SMH's -84.96%.

On 10-year performance, SMH leads with 38.18% vs 9.36% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SMH has performed better with a 38.18% return vs 9.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 0.35% for SMH.

HDV has the higher dividend yield at 3.56%, compared with 0.17% for SMH.

HDV is categorized as Dividend, while SMH is Semiconductors. HDV tracks Morningstar Dividend Yield Focus Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.08% for HDV and 0.35% for SMH.

SMH currently has the higher Sharpe Ratio (4.61 vs 2.12), 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.

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