IBLC vs. SMH
IBLC (iShares Blockchain and Tech ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - IBLC is a Cryptocurrency fund tracking the ICE FactSet Global Blockchain Technologies Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 3 years, IBLC returned 46.30%/yr vs 66.26%/yr for SMH. A 0.59 correlation means they provide meaningful diversification when combined. IBLC charges 0.47%/yr vs 0.35%/yr for SMH.
Performance
IBLC vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, IBLC achieves a 30.07% return, which is significantly lower than SMH's 85.74% return.
IBLC
- 1D
- -0.70%
- 1M
- 2.21%
- YTD
- 30.07%
- 6M
- 19.82%
- 1Y
- 65.77%
- 3Y*
- 46.30%
- 5Y*
- —
- 10Y*
- —
SMH
- 1D
- 1.37%
- 1M
- 16.07%
- YTD
- 85.74%
- 6M
- 85.96%
- 1Y
- 157.81%
- 3Y*
- 66.26%
- 5Y*
- 40.65%
- 10Y*
- 38.85%
IBLC vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBLC iShares Blockchain and Tech ETF | 30.07% | 27.05% | 18.58% | 201.47% | -58.93% |
SMH VanEck Semiconductor ETF | 85.74% | 49.17% | 39.10% | 73.38% | -10.22% |
Correlation
The correlation between IBLC and SMH is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2022 | 0.59 |
The correlation between IBLC and SMH has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.
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Return for Risk
IBLC vs. SMH — Risk / Return Rank
IBLC
SMH
IBLC vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Blockchain and Tech ETF (IBLC) 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.
| IBLC | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.48 | ||
| Sortino ratioReturn per unit of downside risk | -2.84 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.66 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 10.63 | -9.16 |
| Martin ratioReturn relative to average drawdown | 2.89 | 38.91 | -36.02 |
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Drawdowns
IBLC vs. SMH - Drawdown Comparison
The maximum IBLC drawdown since its inception was -62.54%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for IBLC and SMH.
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Drawdown Indicators
| IBLC | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.54% | -84.96% | +22.42% |
Max Drawdown (1Y)Largest decline over 1 year | -44.94% | -14.93% | -30.01% |
Max Drawdown (3Y)Largest decline over 3 years | -51.68% | -35.74% | -15.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.30% | — |
Current DrawdownCurrent decline from peak | -14.49% | 0.00% | -14.49% |
Average DrawdownAverage peak-to-trough decline | -25.77% | -41.01% | +15.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.86% | 4.07% | +18.79% |
Volatility
IBLC vs. SMH - Volatility Comparison
iShares Blockchain and Tech ETF (IBLC) and VanEck Semiconductor ETF (SMH) have volatilities of 17.30% and 17.29%, 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.
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Volatility by Period
| IBLC | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.30% | 17.29% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 41.59% | 28.18% | +13.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.92% | 34.14% | +21.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 64.54% | 35.68% | +28.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.54% | 32.95% | +31.59% |
IBLC vs. SMH - Expense Ratio Comparison
IBLC has a 0.47% expense ratio, which is higher than SMH's 0.35% expense ratio.
Dividends
IBLC vs. SMH - Dividend Comparison
IBLC's dividend yield for the trailing twelve months is around 4.81%, more than SMH's 0.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBLC iShares Blockchain and Tech ETF | 4.81% | 6.31% | 1.60% | 1.79% | 0.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
IBLC and SMH have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBLC has higher volatility (17.30%) compared to SMH (17.29%). In terms of maximum drawdown, IBLC dropped -62.54% vs SMH's -84.96%.
On 3-year performance, SMH leads with 66.26% vs 46.30% for IBLC. On fees, SMH is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SMH has performed better with a 66.26% return vs 46.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMH is cheaper with a 0.35% expense ratio, compared with 0.47% for IBLC.
IBLC has the higher dividend yield at 4.81%, compared with 0.17% for SMH.
IBLC is categorized as Cryptocurrency, while SMH is Semiconductors. IBLC tracks ICE FactSet Global Blockchain Technologies Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.47% for IBLC and 0.35% for SMH.
SMH currently has the higher Sharpe Ratio (4.66 vs 1.18), 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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