LRNZ vs. SMH

Last updated Aug 2, 2026

LRNZ (TrueShares Technology, AI & Deep Learning ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - LRNZ is a Artificial Intelligence fund actively managed by TrueShares, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. LRNZ is actively managed, while SMH is passively managed. Their 0.80 correlation means they have sometimes moved together and sometimes differently. LRNZ charges 0.68%/yr vs 0.35%/yr for SMH.

Performance

LRNZ vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Technology, AI & Deep Learning ETF (LRNZ) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LRNZ

• 1D: 1.01%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SMH

• 1D: 0.30%
• 1M: -8.74%
• 6M: 33.97%
• YTD: 50.09%
• 1Y: 90.95%
• 3Y*: 50.56%
• 5Y*: 33.46%
• 10Y*: 34.16%
• ALL TIME*: 11.06%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LRNZ TrueShares Technology, AI & Deep Learning ETF	$103.68K	$133.76K	$133.76K
SMH VanEck Semiconductor ETF	$8.28B	$7.64B	$7.07B

LRNZ vs. SMH - Yearly Performance Comparison

	2026 (YTD)
LRNZ TrueShares Technology, AI & Deep Learning ETF	-6.20%
SMH VanEck Semiconductor ETF	-11.06%

Correlation

The correlation between LRNZ and SMH is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 10, 2026	0.80

LRNZ vs. SMH - Sectors Allocation Comparison

Sectors	LRNZ	SMH
Technology	76.5%	100.0%
Healthcare	19.5%	-
Communication Services	4.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

LRNZ vs. SMH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LRNZ

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

SMH

SMH Risk / Return Rank: 87
SMH Sharpe Ratio Rank: 91
SMH Sortino Ratio Rank: 83
SMH Omega Ratio Rank: 84
SMH Calmar Ratio Rank: 88
SMH Martin Ratio Rank: 91

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.

LRNZ vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Technology, AI & Deep Learning ETF (LRNZ) 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.

	LRNZ	SMH	Difference
Sharpe ratio: Return per unit of total volatility	—	2.29	—
Sortino ratio: Return per unit of downside risk	—	2.70	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	3.58	—
Martin ratio: Return relative to average drawdown	—	14.64	—

Drawdowns

LRNZ vs. SMH - Drawdown Comparison

The maximum LRNZ drawdown since its inception was -11.91%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for LRNZ and SMH.

Drawdown Indicators

	LRNZ	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-11.91%	-84.96%	+73.05%
Max Drawdown (1Y) Largest decline over 1 year	—	-24.62%	—
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	-6.20%	-19.19%	+12.99%
Average Drawdown Average peak-to-trough decline	-5.75%	-40.89%	+35.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.01%	—

Volatility

Volatility by Period

	LRNZ	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	33.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	34.30%	38.57%	-4.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.30%	36.50%	-2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.30%	33.32%	+0.98%

LRNZ vs. SMH - Expense Ratio Comparison

LRNZ has a 0.68% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

LRNZ vs. SMH - Dividend Comparison

LRNZ has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LRNZ TrueShares Technology, AI & Deep Learning 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	0.20%	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

Can I hold both LRNZ and SMH in my portfolio?

LRNZ and SMH have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LRNZ 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, LRNZ or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.68% for LRNZ.

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

SMH has the higher dividend yield at 0.20%, compared with 0.00% for LRNZ.

What is the main difference between LRNZ and SMH?

LRNZ is categorized as Artificial Intelligence, while SMH is Semiconductors. They also come from different issuers: TrueShares and VanEck. Their fees differ too: 0.68% for LRNZ and 0.35% for SMH.