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IVRS vs. SMH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IVRS vs. SMH

Last updated Aug 4, 2026
Documentation

IVRS (iShares Future Metaverse Tech And Communications ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - IVRS is a Technology Equities fund tracking the Morningstar Global Metaverse & Virtual Interaction Select Index - Benchmark TR Net, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 3 years, IVRS returned 7.73%/yr vs 53.04%/yr for SMH. Their 0.68 correlation means they have sometimes moved together and sometimes differently. IVRS charges 0.47%/yr vs 0.35%/yr for SMH.

Performance

IVRS vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Future Metaverse Tech And Communications ETF (IVRS) 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, IVRS achieves a -7.07% return, which is significantly lower than SMH's 51.46% return.

IVRS

1D
2.16%
1M
0.63%
6M
-1.65%
YTD
-7.07%
1Y
-11.56%
3Y*
7.73%
5Y*
—
10Y*
—
ALL TIME*
11.16%

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

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IVRS

iShares Future Metaverse Tech And Communications ETF
$45.64K$34.99K$21.63K

SMH

VanEck Semiconductor ETF
$8.29B$7.23B$7.12B

IVRS vs. SMH - Yearly Performance Comparison

2026 (YTD)202520242023
IVRS
iShares Future Metaverse Tech And Communications ETF		-7.07%12.75%7.40%28.15%
SMH
VanEck Semiconductor ETF		51.46%49.17%39.10%39.07%

Correlation

The correlation between IVRS and SMH is 0.56, 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.

0.56

Correlation (3Y)
Balances recent behavior with more history.

0.66

Correlation (All Time)
Calculated using the full available price history since Feb 16, 2023

0.68

The correlation between IVRS and SMH shifts across timeframes, from 0.56 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

IVRS vs. SMH - Sectors Allocation Comparison

Sectors
IVRS
SMH

Communication Services

46.3%

-

Technology

31.8%
100.0%

Financial Services

17.9%

-

Consumer Cyclical

4.0%

-

Basic Materials

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Communication Services

IVRS
46.3%
SMH

-

Technology

IVRS
31.8%
SMH
100.0%

Financial Services

IVRS
17.9%
SMH

-

Consumer Cyclical

IVRS
4.0%
SMH

-

Basic Materials

IVRS

-

SMH

-

Consumer Defensive

IVRS

-

SMH

-

Energy

IVRS

-

SMH

-

Healthcare

IVRS

-

SMH

-

Industrials

IVRS

-

SMH

-

Real Estate

IVRS

-

SMH

-

Utilities

IVRS

-

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 Future Metaverse Tech And Communications ETF

VanEck Semiconductor ETF

Often compared with IVRS:
IVRS vs. FFOGIVRS vs. AIQIVRS vs. IBOTIVRS vs. IQMIVRS vs. VUGIVRS vs. ESPOIVRS vs. VOO
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SOXQSMH vs. XLK

Return for Risk

IVRS vs. SMH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IVRS
IVRS Risk / Return Rank: 66
Overall Rank
IVRS Sharpe Ratio Rank: 55
Sharpe Ratio Rank
IVRS Sortino Ratio Rank: 55
Sortino Ratio Rank
IVRS Omega Ratio Rank: 55
Omega Ratio Rank
IVRS Calmar Ratio Rank: 66
Calmar Ratio Rank
IVRS Martin Ratio Rank: 66
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 8888
Overall Rank
SMH Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 8484
Sortino Ratio Rank
SMH Omega Ratio Rank: 8585
Omega Ratio Rank
SMH Calmar Ratio Rank: 8989
Calmar Ratio Rank
SMH Martin Ratio Rank: 9191
Martin Ratio Rank
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.

IVRS vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Future Metaverse Tech And Communications ETF (IVRS) 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.

IVRSSMHDifference
Sharpe ratioReturn per unit of total volatility
-0.49
2.43

-2.91

Sortino ratioReturn per unit of downside risk
-0.53
2.80

-3.33

Omega ratioGain probability vs. loss probability

0.94

1.37

-0.44

Calmar ratioReturn relative to maximum drawdown

-0.37

3.79

-4.15

Martin ratioReturn relative to average drawdown

-0.69

15.18

-15.87

IVRS vs. SMH - Sharpe Ratio Comparison

The current IVRS Sharpe Ratio is -0.49, which is lower than the SMH Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of IVRS 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

IVRS vs. SMH - Drawdown Comparison

The maximum IVRS drawdown since its inception was -31.43%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for IVRS and SMH.

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Drawdown Indicators

IVRSSMHDifference

Max Drawdown

Largest peak-to-trough decline

-31.43%

-84.96%

+53.53%

Max Drawdown (1Y)

Largest decline over 1 year

-31.43%

-24.62%

-6.81%

Max Drawdown (3Y)

Largest decline over 3 years

-31.43%

-35.74%

+4.31%

Max Drawdown (5Y)

Largest decline over 5 years

—

-45.30%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.30%

—

Current Drawdown

Current decline from peak

-20.06%

-18.46%

-1.60%

Average Drawdown

Average peak-to-trough decline

-6.51%

-40.89%

+34.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.79%

6.13%

+10.66%

Volatility

IVRS vs. SMH - Volatility Comparison

The current volatility for iShares Future Metaverse Tech And Communications ETF (IVRS) is 7.97%, while VanEck Semiconductor ETF (SMH) has a volatility of 14.15%. This indicates that IVRS 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

IVRSSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.97%

14.15%

-6.18%

Volatility (6M)

Calculated over the trailing 6-month period

19.96%

32.94%

-12.98%

Volatility (1Y)

Calculated over the trailing 1-year period

23.89%

38.50%

-14.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.88%

36.51%

-15.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.88%

33.33%

-12.45%

IVRS vs. SMH - Expense Ratio Comparison

IVRS has a 0.47% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

IVRS vs. SMH - Dividend Comparison

IVRS's dividend yield for the trailing twelve months is around 8.62%, more than SMH's 0.20% yield.

PositionTTM20252024202320222021202020192018201720162015
IVRS
iShares Future Metaverse Tech And Communications ETF		8.62%7.88%6.65%0.48%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

IVRS and SMH have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SMH has higher volatility (14.15%) compared to IVRS (7.97%). In terms of maximum drawdown, IVRS dropped -31.43% vs SMH's -84.96%.

On 3-year performance, SMH leads with 53.04% vs 7.73% for IVRS. On fees, SMH is cheaper at 0.35% per year. On volatility, IVRS has been the lower-risk option at 7.97%. 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 53.04% return vs 7.73%. 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 IVRS.

IVRS has the higher dividend yield at 8.62%, compared with 0.20% for SMH.

IVRS is categorized as Technology Equities, while SMH is Semiconductors. IVRS tracks Morningstar Global Metaverse & Virtual Interaction Select Index - Benchmark TR Net, 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 IVRS and 0.35% for SMH.

SMH currently has the higher Sharpe Ratio (2.43 vs -0.49), 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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