QTOP vs. SMHX

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Nasdaq Top 30 Stocks ETF (QTOP) and VanEck Fabless Semiconductor ETF (SMHX).

QTOP and SMHX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QTOP is a passively managed fund by iShares that tracks the performance of the Nasdaq-100 Top 30 Index. It was launched on Oct 23, 2024. SMHX is a passively managed fund by VanEck that tracks the performance of the MarketVector™ US Listed Fabless Semiconductor Index. It was launched on Aug 27, 2024. Both QTOP and SMHX 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

QTOP vs. SMHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq Top 30 Stocks ETF (QTOP) and VanEck Fabless Semiconductor ETF (SMHX). The values are adjusted to include any dividend payments, if applicable.

QTOP vs. SMHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QTOP iShares Nasdaq Top 30 Stocks ETF	-4.91%	22.19%	5.80%
SMHX VanEck Fabless Semiconductor ETF	-0.32%	30.00%	10.29%

Returns By Period

In the year-to-date period, QTOP achieves a -4.91% return, which is significantly lower than SMHX's -0.32% return.

QTOP

• 1D: 1.40%
• 1M: -3.16%
• YTD: -4.91%
• 6M: -2.53%
• 1Y: 27.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMHX

• 1D: 1.86%
• 1M: -2.70%
• YTD: -0.32%
• 6M: -1.36%
• 1Y: 60.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QTOP vs. SMHX - Expense Ratio Comparison

QTOP has a 0.20% expense ratio, which is lower than SMHX's 0.35% expense ratio.

SMHX

VanEck Fabless Semiconductor ETF

QTOP

iShares Nasdaq Top 30 Stocks ETF

Return for Risk

QTOP vs. SMHX — Risk / Return Rank

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

QTOP

QTOP Risk / Return Rank: 70
QTOP Sharpe Ratio Rank: 65
QTOP Sortino Ratio Rank: 69
QTOP Omega Ratio Rank: 66
QTOP Calmar Ratio Rank: 79
QTOP Martin Ratio Rank: 71

SMHX

SMHX Risk / Return Rank: 83
SMHX Sharpe Ratio Rank: 80
SMHX Sortino Ratio Rank: 82
SMHX Omega Ratio Rank: 77
SMHX Calmar Ratio Rank: 93
SMHX Martin Ratio Rank: 82

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.

QTOP vs. SMHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq Top 30 Stocks ETF (QTOP) and VanEck Fabless Semiconductor ETF (SMHX). 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.

	QTOP	SMHX	Difference
Sharpe ratio Return per unit of total volatility	1.17	1.55	-0.38
Sortino ratio Return per unit of downside risk	1.78	2.19	-0.41
Omega ratio Gain probability vs. loss probability	1.25	1.30	-0.05
Calmar ratio Return relative to maximum drawdown	2.21	3.56	-1.35
Martin ratio Return relative to average drawdown	7.54	9.59	-2.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QTOP vs. SMHX - Sharpe Ratio Comparison

The current QTOP Sharpe Ratio is 1.17, which is comparable to the SMHX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of QTOP and SMHX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QTOP	SMHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	1.55	-0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.77	-0.09

Correlation

The correlation between QTOP and SMHX is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QTOP vs. SMHX - Dividend Comparison

QTOP's dividend yield for the trailing twelve months is around 0.41%, more than SMHX's 0.02% yield.

	TTM	2025	2024
QTOP iShares Nasdaq Top 30 Stocks ETF	0.41%	0.38%	0.11%
SMHX VanEck Fabless Semiconductor ETF	0.02%	0.02%	0.04%

Drawdowns

QTOP vs. SMHX - Drawdown Comparison

The maximum QTOP drawdown since its inception was -23.28%, smaller than the maximum SMHX drawdown of -38.53%. Use the drawdown chart below to compare losses from any high point for QTOP and SMHX.

Drawdown Indicators

	QTOP	SMHX	Difference
Max Drawdown Largest peak-to-trough decline	-23.28%	-38.53%	+15.25%
Max Drawdown (1Y) Largest decline over 1 year	-12.88%	-17.51%	+4.63%
Current Drawdown Current decline from peak	-8.35%	-10.19%	+1.84%
Average Drawdown Average peak-to-trough decline	-4.12%	-7.94%	+3.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	6.50%	-2.72%

Volatility

QTOP vs. SMHX - Volatility Comparison

The current volatility for iShares Nasdaq Top 30 Stocks ETF (QTOP) is 7.24%, while VanEck Fabless Semiconductor ETF (SMHX) has a volatility of 11.28%. This indicates that QTOP experiences smaller price fluctuations and is considered to be less risky than SMHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTOP	SMHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.24%	11.28%	-4.04%
Volatility (6M) Calculated over the trailing 6-month period	13.92%	24.45%	-10.53%
Volatility (1Y) Calculated over the trailing 1-year period	23.53%	39.40%	-15.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.11%	39.80%	-16.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.11%	39.80%	-16.69%