MSV.TO vs. SMH

Last updated Jun 4, 2026

MSV.TO (Minco Silver Corporation) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, MSV.TO returned -7.44%/yr vs 38.49%/yr for SMH. At a 0.04 correlation, their price movements are largely independent.

Performance

MSV.TO vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Minco Silver Corporation (MSV.TO) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MSV.TO is traded in CAD, while SMH is traded in USD. To make them comparable, the SMH values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MSV.TO achieves a -12.73% return, which is significantly lower than SMH's 77.07% return. Over the past 10 years, MSV.TO has underperformed SMH with an annualized return of -7.44%, while SMH has yielded a comparatively higher 38.49% annualized return.

MSV.TO

• 1D: 0.00%
• 1M: 6.67%
• YTD: -12.73%
• 6M: 33.33%
• 1Y: 128.57%
• 3Y*: 33.89%
• 5Y*: -1.59%
• 10Y*: -7.44%

SMH

• 1D: 0.00%
• 1M: 26.72%
• YTD: 77.07%
• 6M: 72.67%
• 1Y: 157.15%
• 3Y*: 65.36%
• 5Y*: 42.82%
• 10Y*: 38.49%

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

MSV.TO vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSV.TO Minco Silver Corporation	-12.73%	189.47%	5.56%	-10.00%	-39.39%	-37.74%	-25.35%	57.78%	-47.06%	-20.56%
SMH VanEck Semiconductor ETF	79.39%	42.33%	51.05%	69.56%	-28.80%	40.85%	52.91%	56.37%	-1.34%	29.66%

Correlation

The correlation between MSV.TO and SMH is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jun 23, 2009	0.04

The correlation between MSV.TO and SMH shifts across timeframes, from 0.03 (10 years) to 0.19 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MSV.TO vs. SMH — Risk / Return Rank

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

MSV.TO

MSV.TO Risk / Return Rank: 81
MSV.TO Sharpe Ratio Rank: 79
MSV.TO Sortino Ratio Rank: 81
MSV.TO Omega Ratio Rank: 79
MSV.TO Calmar Ratio Rank: 86
MSV.TO Martin Ratio Rank: 81

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 98
SMH Sortino Ratio Rank: 95
SMH Omega Ratio Rank: 95
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.

MSV.TO vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Minco Silver Corporation (MSV.TO) 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.

	MSV.TO	SMH	Difference
Sharpe ratio: Return per unit of total volatility	1.35	5.23	-3.88
Sortino ratio: Return per unit of downside risk	2.38	5.29	-2.92
Omega ratio: Gain probability vs. loss probability	1.30	1.74	-0.44
Calmar ratio: Return relative to maximum drawdown	3.61	11.82	-8.21
Martin ratio: Return relative to average drawdown	6.97	42.73	-35.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSV.TO vs. SMH - Sharpe Ratio Comparison

The current MSV.TO Sharpe Ratio is 1.35, which is lower than the SMH Sharpe Ratio of 5.23. The chart below compares the historical Sharpe Ratios of MSV.TO 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.

Sharpe Ratios by Period

	MSV.TO	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	5.23	-3.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	1.29	-1.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.09	1.24	-1.33
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	1.15	-1.21

Drawdowns

MSV.TO vs. SMH - Drawdown Comparison

The maximum MSV.TO drawdown since its inception was -97.97%, which is greater than SMH's maximum drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for MSV.TO and SMH.

Drawdown Indicators

	MSV.TO	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-97.97%	-40.60%	-57.37%
Max Drawdown (1Y) Largest decline over 1 year	-35.82%	-13.38%	-22.44%
Max Drawdown (3Y) Largest decline over 3 years	-41.67%	-33.18%	-8.49%
Max Drawdown (5Y) Largest decline over 5 years	-74.07%	-40.60%	-33.47%
Max Drawdown (10Y) Largest decline over 10 years	-92.71%	-40.60%	-52.11%
Current Drawdown Current decline from peak	-93.02%	0.00%	-93.02%
Average Drawdown Average peak-to-trough decline	-75.71%	-6.69%	-69.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.52%	3.69%	+14.83%

Volatility

MSV.TO vs. SMH - Volatility Comparison

Minco Silver Corporation (MSV.TO) has a higher volatility of 17.94% compared to VanEck Semiconductor ETF (SMH) at 11.40%. This indicates that MSV.TO'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.

Volatility by Period

	MSV.TO	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.94%	11.40%	+6.54%
Volatility (6M) Calculated over the trailing 6-month period	61.46%	23.97%	+37.49%
Volatility (1Y) Calculated over the trailing 1-year period	95.76%	30.30%	+65.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.97%	33.43%	+49.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	86.70%	31.06%	+55.64%

Dividends

MSV.TO vs. SMH - Dividend Comparison

MSV.TO has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSV.TO Minco Silver Corporation	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	0.17%	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 MSV.TO and SMH in my portfolio?

MSV.TO and SMH have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.