MVAL vs. SMH

Last updated Jun 4, 2026

MVAL (VanEck Morningstar Wide Moat Value ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - MVAL is a Large Cap Value Equities fund tracking the Morningstar US Broad Value Wide Moat Focus Index - Benchmark TR Gross, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past year, MVAL returned 13.96% vs 157.20% for SMH. At a 0.35 correlation, their price movements are largely independent. MVAL charges 0.49%/yr vs 0.35%/yr for SMH.

Performance

MVAL vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar Wide Moat Value ETF (MVAL) 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, MVAL achieves a -2.29% return, which is significantly lower than SMH's 77.13% return.

MVAL

• 1D: -0.54%
• 1M: -0.15%
• YTD: -2.29%
• 6M: -2.26%
• 1Y: 13.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH

• 1D: 0.90%
• 1M: 25.87%
• YTD: 77.13%
• 6M: 75.61%
• 1Y: 157.20%
• 3Y*: 64.17%
• 5Y*: 39.21%
• 10Y*: 37.68%

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

MVAL vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MVAL VanEck Morningstar Wide Moat Value ETF	-2.29%	14.17%	6.10%
SMH VanEck Semiconductor ETF	77.13%	49.17%	8.11%

Correlation

The correlation between MVAL and SMH is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Apr 1, 2024	0.35

Return for Risk

MVAL vs. SMH — Risk / Return Rank

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

MVAL

MVAL Risk / Return Rank: 26
MVAL Sharpe Ratio Rank: 28
MVAL Sortino Ratio Rank: 30
MVAL Omega Ratio Rank: 26
MVAL Calmar Ratio Rank: 25
MVAL Martin Ratio Rank: 23

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.

MVAL vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Wide Moat Value ETF (MVAL) 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.

	MVAL	SMH	Difference
Sharpe ratio: Return per unit of total volatility	1.02	5.19	-4.16
Sortino ratio: Return per unit of downside risk	1.60	5.22	-3.62
Omega ratio: Gain probability vs. loss probability	1.18	1.72	-0.54
Calmar ratio: Return relative to maximum drawdown	1.15	10.59	-9.44
Martin ratio: Return relative to average drawdown	2.87	40.63	-37.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVAL vs. SMH - Sharpe Ratio Comparison

The current MVAL Sharpe Ratio is 1.02, which is lower than the SMH Sharpe Ratio of 5.19. The chart below compares the historical Sharpe Ratios of MVAL 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

	MVAL	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	5.19	-4.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.34	+0.19

Drawdowns

MVAL vs. SMH - Drawdown Comparison

The maximum MVAL drawdown since its inception was -19.56%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for MVAL and SMH.

Drawdown Indicators

	MVAL	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-19.56%	-84.96%	+65.40%
Max Drawdown (1Y) Largest decline over 1 year	-12.16%	-14.93%	+2.77%
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	-10.57%	0.00%	-10.57%
Average Drawdown Average peak-to-trough decline	-3.78%	-41.09%	+37.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.88%	3.89%	+0.99%

Volatility

MVAL vs. SMH - Volatility Comparison

The current volatility for VanEck Morningstar Wide Moat Value ETF (MVAL) is 3.59%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.47%. This indicates that MVAL experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVAL	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	11.47%	-7.88%
Volatility (6M) Calculated over the trailing 6-month period	9.59%	24.29%	-14.70%
Volatility (1Y) Calculated over the trailing 1-year period	13.73%	30.56%	-16.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.40%	35.01%	-19.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.40%	32.57%	-17.17%

MVAL vs. SMH - Expense Ratio Comparison

MVAL has a 0.49% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

MVAL vs. SMH - Dividend Comparison

MVAL's dividend yield for the trailing twelve months is around 1.79%, more than SMH's 0.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MVAL VanEck Morningstar Wide Moat Value ETF	1.79%	1.75%	0.97%	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 MVAL and SMH in my portfolio?

MVAL and SMH have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVAL or SMH?

SMH has higher volatility (11.47%) compared to MVAL (3.59%). In terms of maximum drawdown, MVAL dropped -19.56% vs SMH's -84.96%.

Which ETF is better, MVAL or SMH?

On 1-year performance, SMH leads with 157.20% vs 13.96% for MVAL. On fees, SMH is cheaper at 0.35% per year. On volatility, MVAL has been the lower-risk option at 3.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVAL or SMH?

Over the 1-year period, SMH has performed better with a 157.20% return vs 13.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVAL or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.49% for MVAL.

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

MVAL has the higher dividend yield at 1.79%, compared with 0.17% for SMH.

What is the main difference between MVAL and SMH?

MVAL is categorized as Large Cap Value Equities, while SMH is Semiconductors. MVAL tracks Morningstar US Broad Value Wide Moat Focus Index - Benchmark TR Gross, while SMH tracks MVIS US Listed Semiconductor 25 Index. Their fees differ too: 0.49% for MVAL and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (5.19 vs 1.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.