SHOC vs. SMHX

Last updated Jul 14, 2026

SHOC (Strive U.S. Semiconductor ETF) and SMHX (VanEck Fabless Semiconductor ETF) are both Semiconductors funds - SHOC tracks the Bloomberg US Listed Semiconductors Select Index while SMHX tracks the MarketVector™ US Listed Fabless Semiconductor Index. Both are passively managed. Over the past year, SHOC returned 98.76% vs 84.33% for SMHX. Their correlation of 0.94 suggests significant overlap in exposure. SHOC charges 0.40%/yr vs 0.35%/yr for SMHX.

Performance

SHOC vs. SMHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strive U.S. Semiconductor ETF (SHOC) and VanEck Fabless Semiconductor ETF (SMHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHOC achieves a 58.16% return, which is significantly higher than SMHX's 54.35% return.

SHOC

• 1D: -4.19%
• 1M: -5.59%
• 6M: 46.76%
• YTD: 58.16%
• 1Y: 98.76%
• 3Y*: 45.84%
• 5Y*: —
• 10Y*: —

SMHX

• 1D: -4.79%
• 1M: -6.32%
• 6M: 49.49%
• YTD: 54.35%
• 1Y: 84.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHOC vs. SMHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SHOC Strive U.S. Semiconductor ETF	58.16%	49.91%	-2.55%
SMHX VanEck Fabless Semiconductor ETF	54.35%	30.00%	15.56%

Correlation

The correlation between SHOC and SMHX is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024	0.94

The correlation between SHOC and SMHX has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

SHOC vs. SMHX - Sectors Allocation Comparison

Sectors	SHOC	SMHX
Technology	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SHOC vs. SMHX — Risk / Return Rank

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

SHOC

SHOC Risk / Return Rank: 90
SHOC Sharpe Ratio Rank: 93
SHOC Sortino Ratio Rank: 83
SHOC Omega Ratio Rank: 84
SHOC Calmar Ratio Rank: 96
SHOC Martin Ratio Rank: 94

SMHX

SMHX Risk / Return Rank: 82
SMHX Sharpe Ratio Rank: 87
SMHX Sortino Ratio Rank: 73
SMHX Omega Ratio Rank: 74
SMHX Calmar Ratio Rank: 93
SMHX Martin Ratio Rank: 81

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.

SHOC vs. SMHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strive U.S. Semiconductor ETF (SHOC) 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.

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.

	SHOC	SMHX	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.22	+0.40
Sortino ratio: Return per unit of downside risk	2.92	2.62	+0.30
Omega ratio: Gain probability vs. loss probability	1.40	1.35	+0.05
Calmar ratio: Return relative to maximum drawdown	6.81	4.97	+1.84
Martin ratio: Return relative to average drawdown	21.14	12.45	+8.69

SHOC vs. SMHX - Sharpe Ratio Comparison

The current SHOC Sharpe Ratio is 2.62, which is comparable to the SMHX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of SHOC and SMHX, 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

SHOC vs. SMHX - Drawdown Comparison

The maximum SHOC drawdown since its inception was -37.54%, roughly equal to the maximum SMHX drawdown of -38.53%. Use the drawdown chart below to compare losses from any high point for SHOC and SMHX.

Drawdown Indicators

	SHOC	SMHX	Difference
Max Drawdown Largest peak-to-trough decline	-37.54%	-38.53%	+0.99%
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	-17.06%	+2.47%
Max Drawdown (3Y) Largest decline over 3 years	-37.54%	—	—
Current Drawdown Current decline from peak	-12.95%	-13.50%	+0.55%
Average Drawdown Average peak-to-trough decline	-7.46%	-7.43%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.69%	6.80%	-2.11%

Volatility

SHOC vs. SMHX - Volatility Comparison

Strive U.S. Semiconductor ETF (SHOC) has a higher volatility of 19.43% compared to VanEck Fabless Semiconductor ETF (SMHX) at 17.20%. This indicates that SHOC's price experiences larger fluctuations and is considered to be riskier than SMHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHOC	SMHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.43%	17.20%	+2.23%
Volatility (6M) Calculated over the trailing 6-month period	31.80%	31.73%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	37.94%	38.25%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.46%	41.80%	-5.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.46%	41.80%	-5.34%

SHOC vs. SMHX - Expense Ratio Comparison

SHOC has a 0.40% expense ratio, which is higher than SMHX's 0.35% expense ratio.

Dividends

SHOC vs. SMHX - Dividend Comparison

SHOC's dividend yield for the trailing twelve months is around 0.13%, more than SMHX's 0.02% yield.

Position	TTM	2025	2024	2023	2022
SHOC Strive U.S. Semiconductor ETF	0.13%	0.23%	0.35%	0.65%	0.24%
SMHX VanEck Fabless Semiconductor ETF	0.02%	0.02%	0.04%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHOC and SMHX in my portfolio?

With a correlation of 0.93, SHOC and SMHX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SHOC or SMHX?

SHOC has higher volatility (19.43%) compared to SMHX (17.20%). In terms of maximum drawdown, SHOC dropped -37.54% vs SMHX's -38.53%.

Which ETF is better, SHOC or SMHX?

On 1-year performance, SHOC leads with 98.76% vs 84.33% for SMHX. On fees, SMHX is cheaper at 0.35% per year. On volatility, SMHX has been the lower-risk option at 17.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHOC or SMHX?

Over the 1-year period, SHOC has performed better with a 98.76% return vs 84.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHOC or SMHX?

SMHX is cheaper with a 0.35% expense ratio, compared with 0.40% for SHOC.

Which ETF pays a higher dividend yield, SHOC or SMHX?

SHOC has the higher dividend yield at 0.13%, compared with 0.02% for SMHX.

What is the main difference between SHOC and SMHX?

SHOC tracks Bloomberg US Listed Semiconductors Select Index, while SMHX tracks MarketVector™ US Listed Fabless Semiconductor Index. They also come from different issuers: Strive and VanEck. Their fees differ too: 0.40% for SHOC and 0.35% for SMHX.

Which has better risk-adjusted returns?

SHOC currently has the higher Sharpe Ratio (2.62 vs 2.22), 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.