PCI vs. SMH

Last updated Jul 12, 2026

PCI (PGIM Corporate Bond 5-10 Year ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - PCI is a Corporate Bonds fund actively managed by PGIM, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. PCI is actively managed, while SMH is passively managed. At a 0.26 correlation, their price movements are largely independent. PCI charges 0.25%/yr vs 0.35%/yr for SMH.

Performance

PCI vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Corporate Bond 5-10 Year ETF (PCI) 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, PCI achieves a 0.54% return, which is significantly lower than SMH's 69.67% return.

PCI

• 1D: -0.19%
• 1M: -0.49%
• 6M: 0.40%
• YTD: 0.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH

• 1D: 0.54%
• 1M: 0.26%
• 6M: 56.99%
• YTD: 69.67%
• 1Y: 113.20%
• 3Y*: 59.96%
• 5Y*: 37.42%
• 10Y*: 36.59%

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

PCI vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025
PCI PGIM Corporate Bond 5-10 Year ETF	0.54%	2.96%
SMH VanEck Semiconductor ETF	69.67%	25.10%

Correlation

The correlation between PCI and SMH is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 1, 2025	0.26

Return for Risk

PCI vs. SMH — Risk / Return Rank

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

PCI

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

SMH

SMH Risk / Return Rank: 94
SMH Sharpe Ratio Rank: 95
SMH Sortino Ratio Rank: 90
SMH Omega Ratio Rank: 91
SMH Calmar Ratio Rank: 96
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.

PCI vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 5-10 Year ETF (PCI) 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.

	PCI	SMH	Difference
Sharpe ratio: Return per unit of total volatility	—	3.13	—
Sortino ratio: Return per unit of downside risk	—	3.35	—
Omega ratio: Gain probability vs. loss probability	—	1.47	—
Calmar ratio: Return relative to maximum drawdown	—	7.62	—
Martin ratio: Return relative to average drawdown	—	25.13	—

Drawdowns

PCI vs. SMH - Drawdown Comparison

The maximum PCI drawdown since its inception was -3.04%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for PCI and SMH.

Drawdown Indicators

	PCI	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-3.04%	-84.96%	+81.92%
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	-1.11%	-8.65%	+7.54%
Average Drawdown Average peak-to-trough decline	-0.60%	-40.95%	+40.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.52%	—

Volatility

Volatility by Period

	PCI	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	31.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.16%	36.41%	-32.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.16%	36.12%	-31.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.16%	33.10%	-28.94%

PCI vs. SMH - Expense Ratio Comparison

PCI has a 0.25% expense ratio, which is lower than SMH's 0.35% expense ratio.

Dividends

PCI vs. SMH - Dividend Comparison

PCI's dividend yield for the trailing twelve months is around 5.01%, more than SMH's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCI PGIM Corporate Bond 5-10 Year ETF	5.01%	2.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMH VanEck Semiconductor ETF	0.18%	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 PCI and SMH in my portfolio?

PCI and SMH have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PCI or SMH?

On fees, PCI is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCI or SMH?

PCI is cheaper with a 0.25% expense ratio, compared with 0.35% for SMH.

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

PCI has the higher dividend yield at 5.01%, compared with 0.18% for SMH.

What is the main difference between PCI and SMH?

PCI is categorized as Corporate Bonds, while SMH is Semiconductors. They also come from different issuers: PGIM and VanEck. Their fees differ too: 0.25% for PCI and 0.35% for SMH.