SMH vs. CHPS

Last updated Jun 25, 2026

SMH (VanEck Semiconductor ETF) and CHPS (Xtrackers Semiconductor Select Equity ETF) are both Semiconductors funds - SMH tracks the MVIS US Listed Semiconductor 25 Index while CHPS tracks the Solactive Semiconductor ESG Screened Index. Both are passively managed. Over the past year, SMH returned 128.64% vs 185.23% for CHPS. Their correlation of 0.94 suggests significant overlap in exposure. SMH charges 0.35%/yr vs 0.15%/yr for CHPS.

Performance

SMH vs. CHPS - Performance Comparison

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

Returns By Period

In the year-to-date period, SMH achieves a 71.86% return, which is significantly lower than CHPS's 105.66% return.

SMH

• 1D: -0.50%
• 1M: 7.39%
• YTD: 71.86%
• 6M: 69.95%
• 1Y: 128.64%
• 3Y*: 62.01%
• 5Y*: 38.15%
• 10Y*: 37.78%

CHPS

• 1D: -0.97%
• 1M: 12.97%
• YTD: 105.66%
• 6M: 105.80%
• 1Y: 185.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMH vs. CHPS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SMH VanEck Semiconductor ETF	71.86%	49.17%	39.10%	13.87%
CHPS Xtrackers Semiconductor Select Equity ETF	105.66%	58.47%	7.75%	10.88%

Correlation

The correlation between SMH and CHPS is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 13, 2023	0.94

The correlation between SMH and CHPS has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

SMH vs. CHPS - Sectors Allocation Comparison

Sectors	SMH	CHPS
Technology	100.0%	99.6%
Basic Materials	-	-
Communication Services	-	0.0%
Consumer Cyclical	-	0.0%
Consumer Defensive	-	0.0%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	-
Industrials	-	0.4%
Real Estate	-	-
Utilities	-	-

Return for Risk

SMH vs. CHPS — Risk / Return Rank

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

SMH

SMH Risk / Return Rank: 94
SMH Sharpe Ratio Rank: 96
SMH Sortino Ratio Rank: 91
SMH Omega Ratio Rank: 92
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 96

CHPS

CHPS Risk / Return Rank: 96
CHPS Sharpe Ratio Rank: 98
CHPS Sortino Ratio Rank: 95
CHPS Omega Ratio Rank: 94
CHPS Calmar Ratio Rank: 98
CHPS 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.

SMH vs. CHPS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Xtrackers Semiconductor Select Equity ETF (CHPS). 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	CHPS	Difference
Sharpe ratio: Return per unit of total volatility	3.73	4.70	-0.97
Sortino ratio: Return per unit of downside risk	3.87	4.49	-0.62
Omega ratio: Gain probability vs. loss probability	1.55	1.63	-0.08
Calmar ratio: Return relative to maximum drawdown	8.67	10.66	-1.99
Martin ratio: Return relative to average drawdown	31.31	39.00	-7.69

SMH vs. CHPS - Sharpe Ratio Comparison

The current SMH Sharpe Ratio is 3.73, which is comparable to the CHPS Sharpe Ratio of 4.70. The chart below compares the historical Sharpe Ratios of SMH and CHPS, 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. CHPS - Drawdown Comparison

The maximum SMH drawdown since its inception was -84.96%, which is greater than CHPS's maximum drawdown of -39.44%. Use the drawdown chart below to compare losses from any high point for SMH and CHPS.

Drawdown Indicators

	SMH	CHPS	Difference
Max Drawdown Largest peak-to-trough decline	-84.96%	-39.44%	-45.52%
Max Drawdown (1Y) Largest decline over 1 year	-14.93%	-17.50%	+2.57%
Max Drawdown (3Y) Largest decline over 3 years	-35.74%	—	—
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	-7.47%	-9.68%	+2.21%
Average Drawdown Average peak-to-trough decline	-41.00%	-9.08%	-31.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	4.77%	-0.65%

Volatility

SMH vs. CHPS - Volatility Comparison

The current volatility for VanEck Semiconductor ETF (SMH) is 19.07%, while Xtrackers Semiconductor Select Equity ETF (CHPS) has a volatility of 22.69%. This indicates that SMH experiences smaller price fluctuations and is considered to be less risky than CHPS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMH	CHPS	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.07%	22.69%	-3.62%
Volatility (6M) Calculated over the trailing 6-month period	29.12%	34.28%	-5.16%
Volatility (1Y) Calculated over the trailing 1-year period	34.88%	39.83%	-4.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.82%	35.51%	+0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.96%	35.51%	-2.55%

SMH vs. CHPS - Expense Ratio Comparison

SMH has a 0.35% expense ratio, which is higher than CHPS's 0.15% expense ratio.

Dividends

SMH vs. CHPS - Dividend Comparison

SMH's dividend yield for the trailing twelve months is around 0.18%, less than CHPS's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHPS Xtrackers Semiconductor Select Equity ETF	0.32%	0.68%	1.75%	0.36%	0.00%	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 CHPS in my portfolio?

With a correlation of 0.96, SMH and CHPS 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, SMH or CHPS?

CHPS has higher volatility (22.69%) compared to SMH (19.07%). In terms of maximum drawdown, SMH dropped -84.96% vs CHPS's -39.44%.

Which ETF is better, SMH or CHPS?

On 1-year performance, CHPS leads with 185.23% vs 128.64% for SMH. On fees, CHPS is cheaper at 0.15% per year. On volatility, SMH has been the lower-risk option at 19.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMH or CHPS?

Over the 1-year period, CHPS has performed better with a 185.23% return vs 128.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMH or CHPS?

CHPS is cheaper with a 0.15% expense ratio, compared with 0.35% for SMH.

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

CHPS has the higher dividend yield at 0.32%, compared with 0.18% for SMH.

What is the main difference between SMH and CHPS?

SMH tracks MVIS US Listed Semiconductor 25 Index, while CHPS tracks Solactive Semiconductor ESG Screened Index. They also come from different issuers: VanEck and Xtrackers. Their fees differ too: 0.35% for SMH and 0.15% for CHPS.

Which has better risk-adjusted returns?

CHPS currently has the higher Sharpe Ratio (4.70 vs 3.73), 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.