KALV vs. SMH
Compare and contrast key facts about KalVista Pharmaceuticals, Inc. (KALV) and VanEck Semiconductor ETF (SMH).
SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011.
Performance
KALV vs. SMH - Performance Comparison
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KALV vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KALV KalVista Pharmaceuticals, Inc. | 24.64% | 90.67% | -30.86% | 81.21% | -48.90% | -30.33% | 6.63% | -9.82% | 102.56% | 37.91% |
SMH VanEck Semiconductor ETF | 6.46% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Returns By Period
In the year-to-date period, KALV achieves a 24.64% return, which is significantly higher than SMH's 6.46% return. Over the past 10 years, KALV has underperformed SMH with an annualized return of 8.48%, while SMH has yielded a comparatively higher 31.28% annualized return.
KALV
- 1D
- 9.64%
- 1M
- 23.65%
- YTD
- 24.64%
- 6M
- 65.27%
- 1Y
- 74.44%
- 3Y*
- 36.82%
- 5Y*
- -6.02%
- 10Y*
- 8.48%
SMH
- 1D
- 5.76%
- 1M
- -5.65%
- YTD
- 6.46%
- 6M
- 17.84%
- 1Y
- 81.87%
- 3Y*
- 43.47%
- 5Y*
- 25.59%
- 10Y*
- 31.28%
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Return for Risk
KALV vs. SMH — Risk / Return Rank
KALV
SMH
KALV vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KalVista Pharmaceuticals, Inc. (KALV) 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.
| KALV | SMH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.16 | 2.23 | -1.07 |
Sortino ratioReturn per unit of downside risk | 2.01 | 2.85 | -0.84 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.40 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 2.10 | 5.10 | -3.00 |
Martin ratioReturn relative to average drawdown | 4.52 | 18.29 | -13.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KALV | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 2.23 | -1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.09 | 0.74 | -0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | 0.97 | -0.87 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.14 | 0.28 | -0.42 |
Correlation
The correlation between KALV and SMH is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
KALV vs. SMH - Dividend Comparison
KALV has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.29%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KALV KalVista Pharmaceuticals, Inc. | 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 | 0.29% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Drawdowns
KALV vs. SMH - Drawdown Comparison
The maximum KALV drawdown since its inception was -96.68%, which is greater than SMH's maximum drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for KALV and SMH.
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Drawdown Indicators
| KALV | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.68% | -84.96% | -11.72% |
Max Drawdown (1Y)Largest decline over 1 year | -32.79% | -15.95% | -16.84% |
Max Drawdown (5Y)Largest decline over 5 years | -85.96% | -45.30% | -40.66% |
Max Drawdown (10Y)Largest decline over 10 years | -90.13% | -45.30% | -44.83% |
Current DrawdownCurrent decline from peak | -84.09% | -10.03% | -74.06% |
Average DrawdownAverage peak-to-trough decline | -85.89% | -41.36% | -44.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.20% | 4.44% | +10.76% |
Volatility
KALV vs. SMH - Volatility Comparison
KalVista Pharmaceuticals, Inc. (KALV) has a higher volatility of 21.80% compared to VanEck Semiconductor ETF (SMH) at 12.11%. This indicates that KALV's price experiences larger fluctuations and is considered to be riskier 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
| KALV | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.80% | 12.11% | +9.69% |
Volatility (6M)Calculated over the trailing 6-month period | 44.90% | 23.95% | +20.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.58% | 36.84% | +27.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 64.59% | 34.71% | +29.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.29% | 32.28% | +49.01% |