SEMI vs. SMH

Last updated Jun 16, 2026

SEMI (Columbia Select Technology ETF) and SMH (VanEck Semiconductor ETF) are both Semiconductors funds. SEMI is actively managed, while SMH is passively managed. Over the past 3 years, SEMI returned 28.17%/yr vs 62.32%/yr for SMH. Their correlation of 0.94 suggests significant overlap in exposure. SEMI charges 0.75%/yr vs 0.35%/yr for SMH.

Performance

SEMI vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Select Technology ETF (SEMI) 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, SEMI achieves a 31.07% return, which is significantly lower than SMH's 79.69% return.

SEMI

• 1D: 4.16%
• 1M: 7.50%
• YTD: 31.07%
• 6M: 34.39%
• 1Y: 62.32%
• 3Y*: 28.17%
• 5Y*: —
• 10Y*: —

SMH

• 1D: 4.38%
• 1M: 16.31%
• YTD: 79.69%
• 6M: 83.94%
• 1Y: 152.58%
• 3Y*: 62.32%
• 5Y*: 39.72%
• 10Y*: 38.18%

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

SEMI vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SEMI Columbia Select Technology ETF	31.07%	24.91%	15.87%	45.37%	-23.94%
SMH VanEck Semiconductor ETF	79.69%	49.17%	39.10%	73.38%	-27.63%

Correlation

The correlation between SEMI and SMH is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022	0.94

The correlation between SEMI and SMH has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

SEMI vs. SMH - Sectors Allocation Comparison

Sectors	SEMI	SMH
Technology	82.3%	100.0%
Communication Services	9.5%	-
Financial Services	4.4%	-
Consumer Cyclical	3.9%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SEMI vs. SMH — Risk / Return Rank

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

SEMI

SEMI Risk / Return Rank: 84
SEMI Sharpe Ratio Rank: 88
SEMI Sortino Ratio Rank: 79
SEMI Omega Ratio Rank: 80
SEMI Calmar Ratio Rank: 86
SEMI Martin Ratio Rank: 84

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: 97

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.

SEMI vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Select Technology ETF (SEMI) 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.

	SEMI	SMH	Difference
Sharpe ratio: Return per unit of total volatility	2.60	4.61	-2.01
Sortino ratio: Return per unit of downside risk	3.17	4.60	-1.43
Omega ratio: Gain probability vs. loss probability	1.43	1.65	-0.23
Calmar ratio: Return relative to maximum drawdown	4.35	10.28	-5.93
Martin ratio: Return relative to average drawdown	15.70	37.77	-22.07

SEMI vs. SMH - Sharpe Ratio Comparison

The current SEMI Sharpe Ratio is 2.60, which is lower than the SMH Sharpe Ratio of 4.61. The chart below compares the historical Sharpe Ratios of SEMI 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.

Drawdowns

SEMI vs. SMH - Drawdown Comparison

The maximum SEMI drawdown since its inception was -33.46%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for SEMI and SMH.

Drawdown Indicators

	SEMI	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-33.46%	-84.96%	+51.50%
Max Drawdown (1Y) Largest decline over 1 year	-14.41%	-14.93%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-32.93%	-35.74%	+2.81%
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	-1.25%	0.00%	-1.25%
Average Drawdown Average peak-to-trough decline	-9.89%	-41.04%	+31.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	4.06%	-0.08%

Volatility

SEMI vs. SMH - Volatility Comparison

The current volatility for Columbia Select Technology ETF (SEMI) is 11.64%, while VanEck Semiconductor ETF (SMH) has a volatility of 16.71%. This indicates that SEMI 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

	SEMI	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.64%	16.71%	-5.07%
Volatility (6M) Calculated over the trailing 6-month period	20.04%	27.97%	-7.93%
Volatility (1Y) Calculated over the trailing 1-year period	24.15%	33.39%	-9.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.84%	35.53%	-3.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.84%	32.86%	-1.02%

SEMI vs. SMH - Expense Ratio Comparison

SEMI has a 0.75% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

SEMI vs. SMH - Dividend Comparison

SEMI's dividend yield for the trailing twelve months is around 3.42%, more than SMH's 0.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SEMI Columbia Select Technology ETF	3.42%	4.48%	0.96%	0.87%	0.67%	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 SEMI and SMH in my portfolio?

SEMI and SMH have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEMI or SMH?

SMH has higher volatility (16.71%) compared to SEMI (11.64%). In terms of maximum drawdown, SEMI dropped -33.46% vs SMH's -84.96%.

Which ETF is better, SEMI or SMH?

On 3-year performance, SMH leads with 62.32% vs 28.17% for SEMI. On fees, SMH is cheaper at 0.35% per year. On volatility, SEMI has been the lower-risk option at 11.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SEMI or SMH?

Over the 3-year period, SMH has performed better with a 62.32% return vs 28.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SEMI or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.75% for SEMI.

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

SEMI has the higher dividend yield at 3.42%, compared with 0.17% for SMH.

What is the main difference between SEMI and SMH?

They also come from different issuers: Columbia and VanEck. Their fees differ too: 0.75% for SEMI and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (4.61 vs 2.60), 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.