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LRNZ vs. SMH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LRNZ vs. SMH

Last updated Jul 14, 2026
Documentation

LRNZ (TrueShares Technology, AI & Deep Learning ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - LRNZ is a Large Cap Growth Equities fund actively managed by TrueMark Investments, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. LRNZ is actively managed, while SMH is passively managed. With a 1.00 correlation, they move nearly in lockstep. 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.

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Returns By Period

LRNZ

1D
-2.30%
1M
—
6M
—
YTD
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

SMH

1D
-4.16%
1M
-5.54%
6M
49.91%
YTD
62.61%
1Y
104.33%
3Y*
55.82%
5Y*
36.02%
10Y*
35.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

LRNZ vs. SMH - Yearly Performance Comparison

2026 (YTD)
LRNZ
TrueShares Technology, AI & Deep Learning ETF		-3.01%
SMH
VanEck Semiconductor ETF		-3.64%

Correlation

The correlation between LRNZ and SMH is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

1.00

LRNZ vs. SMH - Sectors Allocation Comparison

Sectors
LRNZ
SMH

Technology

82.1%
100.0%

Healthcare

15.0%

-

Communication Services

2.9%

-

Basic Materials

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Technology

LRNZ
82.1%
SMH
100.0%

Healthcare

LRNZ
15.0%
SMH

-

Communication Services

LRNZ
2.9%
SMH

-

Basic Materials

LRNZ

-

SMH

-

Consumer Cyclical

LRNZ

-

SMH

-

Consumer Defensive

LRNZ

-

SMH

-

Energy

LRNZ

-

SMH

-

Financial Services

LRNZ

-

SMH

-

Industrials

LRNZ

-

SMH

-

Real Estate

LRNZ

-

SMH

-

Utilities

LRNZ

-

SMH

-

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TrueShares Technology, AI & Deep Learning ETF

VanEck Semiconductor ETF

Often compared with LRNZ:
LRNZ vs. THNQLRNZ vs. BOTZLRNZ vs. DATLRNZ vs. AIQLRNZ vs. ARKFLRNZ vs. ^GSPCLRNZ vs. ITOT
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK

Return for Risk

LRNZ vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 9292
Overall Rank
SMH Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 8787
Sortino Ratio Rank
SMH Omega Ratio Rank: 8888
Omega Ratio Rank
SMH Calmar Ratio Rank: 9696
Calmar Ratio Rank
SMH Martin Ratio Rank: 9595
Martin Ratio Rank
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.

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.

LRNZSMHDifference
Sharpe ratioReturn per unit of total volatility

—

2.86

—

Sortino ratioReturn per unit of downside risk

—

3.14

—

Omega ratioGain probability vs. loss probability

—

1.43

—

Calmar ratioReturn relative to maximum drawdown

—

7.03

—

Martin ratioReturn relative to average drawdown

—

22.83

—

LRNZ vs. SMH - Sharpe Ratio Comparison

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Drawdowns

LRNZ vs. SMH - Drawdown Comparison

The maximum LRNZ drawdown since its inception was -3.01%, 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.

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Drawdown Indicators

LRNZSMHDifference

Max Drawdown

Largest peak-to-trough decline

-3.01%

-84.96%

+81.95%

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

-3.01%

-12.45%

+9.44%

Average Drawdown

Average peak-to-trough decline

-1.87%

-40.94%

+39.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

4.59%

—

Volatility

LRNZ vs. SMH - Volatility Comparison

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Volatility by Period

LRNZSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

18.45%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

31.29%

—

Volatility (1Y)

Calculated over the trailing 1-year period

17.72%

36.76%

-19.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.72%

36.19%

-18.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.72%

33.14%

-15.42%

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 0.19%.

PositionTTM20252024202320222021202020192018201720162015
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		0.19%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

With a correlation of 1.00, LRNZ and SMH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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.

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

SMH has the higher dividend yield at 0.19%, compared with 0.00% for LRNZ.

LRNZ is categorized as Large Cap Growth Equities, while SMH is Semiconductors. They also come from different issuers: TrueMark Investments and VanEck. Their fees differ too: 0.68% for LRNZ and 0.35% for SMH.

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