SMH vs. AGGH

Last updated Jun 14, 2026

SMH (VanEck Semiconductor ETF) and AGGH (Simplify Aggregate Bond ETF) are both exchange-traded funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while AGGH is a Intermediate Core Bond fund actively managed by Simplify. SMH is passively managed, while AGGH is actively managed. Over the past 3 years, SMH returned 60.05%/yr vs 4.99%/yr for AGGH. At a 0.03 correlation, their price movements are largely independent. SMH charges 0.35%/yr vs 0.33%/yr for AGGH.

Performance

SMH vs. AGGH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Semiconductor ETF (SMH) and Simplify Aggregate Bond ETF (AGGH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMH achieves a 72.15% return, which is significantly higher than AGGH's 0.70% return.

SMH

• 1D: 1.72%
• 1M: 7.20%
• YTD: 72.15%
• 6M: 75.62%
• 1Y: 141.99%
• 3Y*: 60.05%
• 5Y*: 38.42%
• 10Y*: 37.49%

AGGH

• 1D: -0.17%
• 1M: 0.23%
• YTD: 0.70%
• 6M: 1.19%
• 1Y: 8.76%
• 3Y*: 4.99%
• 5Y*: —
• 10Y*: —

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

SMH vs. AGGH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SMH VanEck Semiconductor ETF	72.15%	49.17%	39.10%	73.38%	-22.57%
AGGH Simplify Aggregate Bond ETF	0.70%	8.23%	1.97%	8.47%	-8.77%

Correlation

The correlation between SMH and AGGH is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022	0.03

The correlation between SMH and AGGH shifts across timeframes, from 0.03 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SMH vs. AGGH — Risk / Return Rank

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

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 97
SMH Sortino Ratio Rank: 94
SMH Omega Ratio Rank: 94
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 96

AGGH

AGGH Risk / Return Rank: 44
AGGH Sharpe Ratio Rank: 36
AGGH Sortino Ratio Rank: 37
AGGH Omega Ratio Rank: 38
AGGH Calmar Ratio Rank: 58
AGGH Martin Ratio Rank: 49

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.

SMH vs. AGGH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Simplify Aggregate Bond ETF (AGGH). 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.

	SMH	AGGH	Difference
Sharpe ratio: Return per unit of total volatility	4.13	1.15	+2.98
Sortino ratio: Return per unit of downside risk	4.26	1.74	+2.52
Omega ratio: Gain probability vs. loss probability	1.60	1.22	+0.38
Calmar ratio: Return relative to maximum drawdown	9.18	2.56	+6.63
Martin ratio: Return relative to average drawdown	33.74	7.30	+26.44

SMH vs. AGGH - Sharpe Ratio Comparison

The current SMH Sharpe Ratio is 4.13, which is higher than the AGGH Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of SMH and AGGH, 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

SMH vs. AGGH - Drawdown Comparison

The maximum SMH drawdown since its inception was -84.96%, which is greater than AGGH's maximum drawdown of -13.26%. Use the drawdown chart below to compare losses from any high point for SMH and AGGH.

Drawdown Indicators

	SMH	AGGH	Difference
Max Drawdown Largest peak-to-trough decline	-84.96%	-13.26%	-71.70%
Max Drawdown (1Y) Largest decline over 1 year	-14.93%	-3.10%	-11.83%
Max Drawdown (3Y) Largest decline over 3 years	-35.74%	-8.67%	-27.07%
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	-2.81%	-1.36%	-1.45%
Average Drawdown Average peak-to-trough decline	-41.04%	-4.43%	-36.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.06%	1.09%	+2.97%

Volatility

SMH vs. AGGH - Volatility Comparison

VanEck Semiconductor ETF (SMH) has a higher volatility of 16.25% compared to Simplify Aggregate Bond ETF (AGGH) at 1.67%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than AGGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMH	AGGH	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.25%	1.67%	+14.58%
Volatility (6M) Calculated over the trailing 6-month period	27.73%	3.40%	+24.33%
Volatility (1Y) Calculated over the trailing 1-year period	33.20%	6.93%	+26.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.47%	8.44%	+27.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.82%	8.44%	+24.38%

SMH vs. AGGH - Expense Ratio Comparison

SMH has a 0.35% expense ratio, which is higher than AGGH's 0.33% expense ratio.

Dividends

SMH vs. AGGH - Dividend Comparison

SMH's dividend yield for the trailing twelve months is around 0.18%, less than AGGH's 7.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGGH Simplify Aggregate Bond ETF	7.51%	7.54%	8.97%	9.51%	2.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMH VanEck Semiconductor ETF	0.18%	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 SMH and AGGH in my portfolio?

SMH and AGGH have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMH or AGGH?

SMH has higher volatility (16.25%) compared to AGGH (1.67%). In terms of maximum drawdown, SMH dropped -84.96% vs AGGH's -13.26%.

Which ETF is better, SMH or AGGH?

On 3-year performance, SMH leads with 60.05% vs 4.99% for AGGH. On fees, AGGH is cheaper at 0.33% per year. On volatility, AGGH has been the lower-risk option at 1.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMH or AGGH?

Over the 3-year period, SMH has performed better with a 60.05% return vs 4.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMH or AGGH?

AGGH is cheaper with a 0.33% expense ratio, compared with 0.35% for SMH.

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

AGGH has the higher dividend yield at 7.51%, compared with 0.18% for SMH.

What is the main difference between SMH and AGGH?

SMH is categorized as Semiconductors, while AGGH is Intermediate Core Bond. They also come from different issuers: VanEck and Simplify. Their fees differ too: 0.35% for SMH and 0.33% for AGGH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (4.13 vs 1.15), 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.