QQH vs. SMH
QQH (HCM Defender 100 Index ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - QQH is a Technology Equities fund tracking the HCM Defender 100 Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 5 years, QQH returned 10.11%/yr vs 33.46%/yr for SMH. Their correlation of 0.81 means they have usually moved in the same direction. QQH charges 1.14%/yr vs 0.35%/yr for SMH.
Performance
QQH vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, QQH achieves a 3.46% return, which is significantly lower than SMH's 50.09% return.
QQH
- 1D
- 0.88%
- 1M
- -3.43%
- 6M
- 2.85%
- YTD
- 3.46%
- 1Y
- 17.89%
- 3Y*
- 17.81%
- 5Y*
- 10.11%
- 10Y*
- —
- ALL TIME*
- 18.68%
SMH
- 1D
- 0.30%
- 1M
- -8.74%
- 6M
- 33.97%
- YTD
- 50.09%
- 1Y
- 90.95%
- 3Y*
- 50.56%
- 5Y*
- 33.46%
- 10Y*
- 34.16%
- ALL TIME*
- 11.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.32M | $7.48M | $7.46M | |
| $8.28B | $7.64B | $7.07B |
QQH vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
QQH HCM Defender 100 Index ETF | 3.46% | 15.66% | 33.64% | 48.05% | -39.60% | 37.52% | 41.71% | 15.09% |
SMH VanEck Semiconductor ETF | 50.09% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 21.05% |
Correlation
The correlation between QQH and SMH is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.81 |
The correlation between QQH and SMH has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.
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Return for Risk
QQH vs. SMH — Risk / Return Rank
QQH
SMH
QQH vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HCM Defender 100 Index ETF (QQH) 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.
| QQH | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.36 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 3.58 | -2.68 |
| Martin ratioReturn relative to average drawdown | 2.19 | 14.64 | -12.45 |
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Drawdowns
QQH vs. SMH - Drawdown Comparison
The maximum QQH drawdown since its inception was -41.87%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for QQH and SMH.
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Drawdown Indicators
| QQH | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -84.96% | +43.09% |
Max Drawdown (1Y)Largest decline over 1 year | -16.18% | -24.62% | +8.44% |
Max Drawdown (3Y)Largest decline over 3 years | -24.84% | -35.74% | +10.90% |
Max Drawdown (5Y)Largest decline over 5 years | -41.87% | -45.30% | +3.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.30% | — |
Current DrawdownCurrent decline from peak | -10.37% | -19.19% | +8.82% |
Average DrawdownAverage peak-to-trough decline | -12.80% | -40.89% | +28.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.68% | 6.01% | +0.67% |
Volatility
QQH vs. SMH - Volatility Comparison
The current volatility for HCM Defender 100 Index ETF (QQH) is 8.39%, while VanEck Semiconductor ETF (SMH) has a volatility of 14.70%. This indicates that QQH 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
| QQH | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.39% | 14.70% | -6.31% |
Volatility (6M)Calculated over the trailing 6-month period | 19.31% | 33.13% | -13.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.60% | 38.57% | -13.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.29% | 36.50% | -14.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.06% | 33.32% | -8.26% |
QQH vs. SMH - Expense Ratio Comparison
QQH has a 1.14% expense ratio, which is higher than SMH's 0.35% expense ratio.
Dividends
QQH vs. SMH - Dividend Comparison
QQH's dividend yield for the trailing twelve months is around 0.20%, which matches SMH's 0.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQH HCM Defender 100 Index ETF | 0.20% | 0.21% | 0.24% | 0.27% | 0.00% | 0.00% | 0.00% | 0.21% | 0.00% | 0.00% | 0.00% | 0.00% |
SMH VanEck Semiconductor ETF | 0.20% | 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
QQH and SMH have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMH has higher volatility (14.70%) compared to QQH (8.39%). In terms of maximum drawdown, QQH dropped -41.87% vs SMH's -84.96%.
On 5-year performance, SMH leads with 33.46% vs 10.11% for QQH. On fees, SMH is cheaper at 0.35% per year. On volatility, QQH has been the lower-risk option at 8.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SMH has performed better with a 33.46% return vs 10.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMH is cheaper with a 0.35% expense ratio, compared with 1.14% for QQH.
QQH and SMH have nearly identical dividend yields, around 0.20%.
QQH is categorized as Technology Equities, while SMH is Semiconductors. QQH tracks HCM Defender 100 Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: Howard Capital Management and VanEck. Their fees differ too: 1.14% for QQH and 0.35% for SMH.
SMH currently has the higher Sharpe Ratio (2.29 vs 0.60), 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.
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