JEDI vs. SMH

Last updated Jun 5, 2026

JEDI (Defiance Drone & Modern Warfare ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - JEDI is a Aerospace & Defense fund tracking the BITA Drone & Modern Warfare Select Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. At a 0.39 correlation, their price movements are largely independent. JEDI charges 0.69%/yr vs 0.35%/yr for SMH.

Performance

JEDI vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Drone & Modern Warfare ETF (JEDI) 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, JEDI achieves a 59.78% return, which is significantly lower than SMH's 74.25% return.

JEDI

• 1D: 4.90%
• 1M: 42.42%
• YTD: 59.78%
• 6M: 64.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH

• 1D: -1.63%
• 1M: 20.06%
• YTD: 74.25%
• 6M: 74.08%
• 1Y: 150.04%
• 3Y*: 63.96%
• 5Y*: 38.76%
• 10Y*: 37.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JEDI vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025
JEDI Defiance Drone & Modern Warfare ETF	59.78%	-3.73%
SMH VanEck Semiconductor ETF	74.25%	12.25%

Correlation

The correlation between JEDI and SMH is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	0.39

Return for Risk

JEDI vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 97
SMH Sortino Ratio Rank: 95
SMH Omega Ratio Rank: 94
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 96

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.

JEDI vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Drone & Modern Warfare ETF (JEDI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JEDI	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.94	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.85	0.34	+1.51

Drawdowns

JEDI vs. SMH - Drawdown Comparison

The maximum JEDI drawdown since its inception was -21.67%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for JEDI and SMH.

Drawdown Indicators

	JEDI	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-21.67%	-84.96%	+63.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.93%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-35.74%	—
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	-8.58%	-1.63%	-6.95%
Average Drawdown Average peak-to-trough decline	-9.15%	-41.08%	+31.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.89%	—

Volatility

Volatility by Period

	JEDI	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	47.80%	30.57%	+17.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.80%	35.01%	+12.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.80%	32.57%	+15.23%

JEDI vs. SMH - Expense Ratio Comparison

JEDI has a 0.69% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

JEDI vs. SMH - Dividend Comparison

JEDI has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEDI Defiance Drone & Modern Warfare ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMH VanEck Semiconductor ETF	0.18%	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 JEDI and SMH in my portfolio?

JEDI and SMH have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEDI or SMH?

On fees, SMH is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JEDI or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.69% for JEDI.

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

SMH has the higher dividend yield at 0.18%, compared with 0.00% for JEDI.

What is the main difference between JEDI and SMH?

JEDI is categorized as Aerospace & Defense, while SMH is Semiconductors. JEDI tracks BITA Drone & Modern Warfare Select Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. Their fees differ too: 0.69% for JEDI and 0.35% for SMH.