SMH vs. BNDX
SMH (VanEck Semiconductor ETF) and BNDX (Vanguard Total International Bond ETF) are both exchange-traded funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Both are passively managed. Over the past 10 years, SMH returned 37.49%/yr vs 1.72%/yr for BNDX. At a correlation of -0.00, they often move in opposite directions. SMH charges 0.35%/yr vs 0.07%/yr for BNDX.
Performance
SMH vs. BNDX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SMH achieves a 72.15% return, which is significantly higher than BNDX's 1.02% return. Over the past 10 years, SMH has outperformed BNDX with an annualized return of 37.49%, while BNDX has yielded a comparatively lower 1.72% annualized return.
SMH
- 1D
- 1.72%
- 1M
- 11.44%
- YTD
- 72.15%
- 6M
- 75.62%
- 1Y
- 141.99%
- 3Y*
- 60.05%
- 5Y*
- 38.42%
- 10Y*
- 37.49%
BNDX
- 1D
- 0.17%
- 1M
- 1.69%
- YTD
- 1.02%
- 6M
- 1.22%
- 1Y
- 2.27%
- 3Y*
- 4.32%
- 5Y*
- 0.32%
- 10Y*
- 1.72%
SMH vs. BNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 72.15% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
BNDX Vanguard Total International Bond ETF | 1.02% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
Correlation
The correlation between SMH and BNDX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | -0.00 |
The correlation between SMH and BNDX shifts across timeframes, from -0.00 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SMH vs. BNDX — Risk / Return Rank
SMH
BNDX
SMH vs. BNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Vanguard Total International Bond ETF (BNDX). 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 | BNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.57 | ||
| Sortino ratioReturn per unit of downside risk | +3.44 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.10 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 9.18 | 0.66 | +8.52 |
| Martin ratioReturn relative to average drawdown | 33.74 | 1.84 | +31.89 |
Loading charts...
Drawdowns
SMH vs. BNDX - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for SMH and BNDX.
Loading charts...
Drawdown Indicators
| SMH | BNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -16.23% | -68.73% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -2.93% | -12.00% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -2.93% | -32.81% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -15.86% | -29.44% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | -16.23% | -29.07% |
Current DrawdownCurrent decline from peak | -2.81% | -1.02% | -1.79% |
Average DrawdownAverage peak-to-trough decline | -41.04% | -3.10% | -37.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 1.05% | +3.01% |
Volatility
SMH vs. BNDX - Volatility Comparison
VanEck Semiconductor ETF (SMH) has a higher volatility of 16.25% compared to Vanguard Total International Bond ETF (BNDX) at 1.49%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SMH | BNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.25% | 1.49% | +14.76% |
Volatility (6M)Calculated over the trailing 6-month period | 27.73% | 2.96% | +24.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.20% | 3.47% | +29.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.47% | 4.89% | +30.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.82% | 4.10% | +28.72% |
SMH vs. BNDX - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is higher than BNDX's 0.07% expense ratio.
Dividends
SMH vs. BNDX - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.18%, less than BNDX's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 4.47% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
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
SMH and BNDX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMH has higher volatility (16.25%) compared to BNDX (1.49%). In terms of maximum drawdown, SMH dropped -84.96% vs BNDX's -16.23%.
On 10-year performance, SMH leads with 37.49% vs 1.72% for BNDX. On fees, BNDX is cheaper at 0.07% per year. On volatility, BNDX has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SMH has performed better with a 37.49% return vs 1.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNDX is cheaper with a 0.07% expense ratio, compared with 0.35% for SMH.
BNDX has the higher dividend yield at 4.47%, compared with 0.18% for SMH.
SMH is categorized as Semiconductors, while BNDX is Global Bonds. SMH tracks MVIS US Listed Semiconductor 25 Index, while BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.35% for SMH and 0.07% for BNDX.
SMH currently has the higher Sharpe Ratio (4.13 vs 0.56), 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.
Find the right allocation for SMH and BNDX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer