SMH vs. GC=F
SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while GC=F (Gold Futures) is an asset. At a correlation of -0.02, they often move in opposite directions.
Performance
SMH vs. GC=F - Performance Comparison
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Returns By Period
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%
GC=F
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH vs. GC=F - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 72.15% | 49.17% | 39.10% | 73.38% | -21.57% |
GC=F Gold Futures | 0.00% | 0.00% | 0.00% | 0.00% | 5.84% |
Correlation
The correlation between SMH and GC=F is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022 | -0.02 |
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Return for Risk
SMH vs. GC=F — Risk / Return Rank
SMH
GC=F
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SMH vs. GC=F - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Gold Futures (GC=F). 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 | GC=F | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.60 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 9.18 | — | — |
| Martin ratioReturn relative to average drawdown | 33.74 | — | — |
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Drawdowns
SMH vs. GC=F - Drawdown Comparison
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Drawdown Indicators
| SMH | GC=F | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | — | — |
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 DrawdownCurrent decline from peak | -2.81% | — | — |
Average DrawdownAverage peak-to-trough decline | -41.04% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | — | — |
Volatility
SMH vs. GC=F - Volatility Comparison
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Volatility by Period
| SMH | GC=F | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.25% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 27.73% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 33.20% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.47% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.82% | — | — |
Frequently Asked Questions
SMH and GC=F have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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