PKB vs. SMH
Compare and contrast key facts about Invesco Dynamic Building & Construction ETF (PKB) and VanEck Semiconductor ETF (SMH).
PKB and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PKB is a passively managed fund by Invesco that tracks the performance of the Dynamic Building & Construction Intellidex Index. It was launched on Oct 26, 2005. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. Both PKB and SMH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PKB vs. SMH - Performance Comparison
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PKB vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PKB Invesco Dynamic Building & Construction ETF | 5.41% | 22.47% | 20.24% | 55.29% | -24.88% | 32.96% | 24.49% | 40.15% | -31.11% | 24.67% |
SMH VanEck Semiconductor ETF | 6.46% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Returns By Period
In the year-to-date period, PKB achieves a 5.41% return, which is significantly lower than SMH's 6.46% return. Over the past 10 years, PKB has underperformed SMH with an annualized return of 14.91%, while SMH has yielded a comparatively higher 31.28% annualized return.
PKB
- 1D
- 3.55%
- 1M
- -10.19%
- YTD
- 5.41%
- 6M
- 2.13%
- 1Y
- 45.16%
- 3Y*
- 28.90%
- 5Y*
- 14.83%
- 10Y*
- 14.91%
SMH
- 1D
- 5.76%
- 1M
- -5.65%
- YTD
- 6.46%
- 6M
- 17.84%
- 1Y
- 81.87%
- 3Y*
- 43.47%
- 5Y*
- 25.59%
- 10Y*
- 31.28%
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PKB vs. SMH - Expense Ratio Comparison
PKB has a 0.60% expense ratio, which is higher than SMH's 0.35% expense ratio.
Return for Risk
PKB vs. SMH — Risk / Return Rank
PKB
SMH
PKB vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Building & Construction ETF (PKB) 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.
| PKB | SMH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.77 | 2.23 | -0.47 |
Sortino ratioReturn per unit of downside risk | 2.53 | 2.85 | -0.32 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.40 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 2.94 | 5.10 | -2.15 |
Martin ratioReturn relative to average drawdown | 10.52 | 18.29 | -7.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PKB | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 2.23 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.74 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.97 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.28 | +0.08 |
Correlation
The correlation between PKB and SMH is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PKB vs. SMH - Dividend Comparison
PKB's dividend yield for the trailing twelve months is around 0.15%, less than SMH's 0.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PKB Invesco Dynamic Building & Construction ETF | 0.15% | 0.14% | 0.23% | 0.33% | 0.43% | 0.25% | 0.30% | 0.37% | 0.54% | 0.17% | 0.31% | 0.11% |
SMH VanEck Semiconductor ETF | 0.29% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Drawdowns
PKB vs. SMH - Drawdown Comparison
The maximum PKB drawdown since its inception was -65.21%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for PKB and SMH.
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Drawdown Indicators
| PKB | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.21% | -84.96% | +19.75% |
Max Drawdown (1Y)Largest decline over 1 year | -15.41% | -15.95% | +0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -34.85% | -45.30% | +10.45% |
Max Drawdown (10Y)Largest decline over 10 years | -52.29% | -45.30% | -6.99% |
Current DrawdownCurrent decline from peak | -11.67% | -10.03% | -1.64% |
Average DrawdownAverage peak-to-trough decline | -15.86% | -41.36% | +25.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.31% | 4.44% | -0.13% |
Volatility
PKB vs. SMH - Volatility Comparison
The current volatility for Invesco Dynamic Building & Construction ETF (PKB) is 9.07%, while VanEck Semiconductor ETF (SMH) has a volatility of 12.11%. This indicates that PKB 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.
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Volatility by Period
| PKB | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | 12.11% | -3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 17.21% | 23.95% | -6.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.66% | 36.84% | -11.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.54% | 34.71% | -9.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.09% | 32.28% | -5.19% |