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SMH vs. GLTR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMH vs. GLTR

Last updated Jun 9, 2026

SMH (VanEck Semiconductor ETF) and GLTR (Aberdeen Standard Physical Precious Metals Basket Shares ETF) are both exchange-traded funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while GLTR is a Precious Metals fund tracking the ETFS Physical Precious Metals Basket Index. Both are passively managed. Over the past 10 years, SMH returned 36.92%/yr vs 12.31%/yr for GLTR. At a 0.13 correlation, their price movements are largely independent. SMH charges 0.35%/yr vs 0.60%/yr for GLTR.

Performance

SMH vs. GLTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Semiconductor ETF (SMH) and Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SMH achieves a 66.10% return, which is significantly higher than GLTR's -3.01% return. Over the past 10 years, SMH has outperformed GLTR with an annualized return of 36.92%, while GLTR has yielded a comparatively lower 12.31% annualized return.

SMH

1D
5.00%
1M
5.58%
YTD
66.10%
6M
62.81%
1Y
137.42%
3Y*
60.43%
5Y*
37.89%
10Y*
36.92%

GLTR

1D
0.02%
1M
-11.67%
YTD
-3.01%
6M
6.38%
1Y
45.14%
3Y*
30.24%
5Y*
14.39%
10Y*
12.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMH vs. GLTR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SMH
VanEck Semiconductor ETF		66.10%49.17%39.10%73.38%-33.53%42.13%55.53%64.45%-9.05%38.48%
GLTR
Aberdeen Standard Physical Precious Metals Basket Shares ETF		-3.01%87.25%20.63%2.01%-0.25%-9.60%29.52%20.96%-2.85%12.94%

Correlation

The correlation between SMH and GLTR is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.26

Correlation (3Y)
Calculated over the trailing 3-year period

0.20

Correlation (5Y)
Calculated over the trailing 5-year period

0.19

Correlation (10Y)
Calculated over the trailing 10-year period

0.15

Correlation (All Time)
Calculated using the full available price history since Oct 22, 2010

0.13

The correlation between SMH and GLTR shifts across timeframes, from 0.13 (all time) to 0.26 (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.

VanEck Semiconductor ETF

Aberdeen Standard Physical Precious Metals Basket Shares ETF

Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK
Often compared with GLTR:
GLTR vs. GLDGLTR vs. PICKGLTR vs. SGOLGLTR vs. GLDMGLTR vs. SPYGLTR vs. VGPMXGLTR vs. BAR

Return for Risk

SMH vs. GLTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SMH
SMH Risk / Return Rank: 9696
Overall Rank
SMH Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9393
Sortino Ratio Rank
SMH Omega Ratio Rank: 9494
Omega Ratio Rank
SMH Calmar Ratio Rank: 9797
Calmar Ratio Rank
SMH Martin Ratio Rank: 9696
Martin Ratio Rank
GLTR
GLTR Risk / Return Rank: 3434
Overall Rank
GLTR Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
GLTR Sortino Ratio Rank: 3131
Sortino Ratio Rank
GLTR Omega Ratio Rank: 4343
Omega Ratio Rank
GLTR Calmar Ratio Rank: 3434
Calmar Ratio Rank
GLTR Martin Ratio Rank: 2727
Martin Ratio Rank
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. GLTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR). 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.

SMHGLTRDifference
Sharpe ratioReturn per unit of total volatility
4.27
1.19

+3.08

Sortino ratioReturn per unit of downside risk
4.33
1.52

+2.81

Omega ratioGain probability vs. loss probability

1.62

1.25

+0.37

Calmar ratioReturn relative to maximum drawdown

9.26

1.51

+7.75

Martin ratioReturn relative to average drawdown

34.80

3.41

+31.39

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMH vs. GLTR - Sharpe Ratio Comparison

The current SMH Sharpe Ratio is 4.27, which is higher than the GLTR Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of SMH and GLTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SMHGLTRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.27

1.19

+3.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.08

0.61

+0.47

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.13

0.60

+0.53

Sharpe Ratio (All Time)

Calculated using the full available price history

0.33

0.31

+0.02

Drawdowns

SMH vs. GLTR - Drawdown Comparison

The maximum SMH drawdown since its inception was -84.96%, which is greater than GLTR's maximum drawdown of -55.70%. Use the drawdown chart below to compare losses from any high point for SMH and GLTR.

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Drawdown Indicators

SMHGLTRDifference

Max Drawdown

Largest peak-to-trough decline

-84.96%

-55.70%

-29.26%

Max Drawdown (1Y)

Largest decline over 1 year

-14.93%

-30.10%

+15.17%

Max Drawdown (3Y)

Largest decline over 3 years

-35.74%

-30.10%

-5.64%

Max Drawdown (5Y)

Largest decline over 5 years

-45.30%

-30.10%

-15.20%

Max Drawdown (10Y)

Largest decline over 10 years

-45.30%

-30.10%

-15.20%

Current Drawdown

Current decline from peak

-6.23%

-30.08%

+23.85%

Average Drawdown

Average peak-to-trough decline

-41.07%

-28.83%

-12.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.96%

13.25%

-9.29%

Volatility

SMH vs. GLTR - Volatility Comparison

VanEck Semiconductor ETF (SMH) has a higher volatility of 15.45% compared to Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR) at 9.50%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than GLTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMHGLTRDifference

Volatility (1M)

Calculated over the trailing 1-month period

15.45%

9.50%

+5.95%

Volatility (6M)

Calculated over the trailing 6-month period

26.71%

35.83%

-9.12%

Volatility (1Y)

Calculated over the trailing 1-year period

32.42%

38.04%

-5.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.32%

23.75%

+11.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.75%

20.57%

+12.18%

SMH vs. GLTR - Expense Ratio Comparison

SMH has a 0.35% expense ratio, which is lower than GLTR's 0.60% expense ratio.

Dividends

SMH vs. GLTR - Dividend Comparison

SMH's dividend yield for the trailing twelve months is around 0.18%, while GLTR has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
GLTR
Aberdeen Standard Physical Precious Metals Basket Shares ETF		0.00%0.00%0.00%0.00%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

SMH and GLTR have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SMH has higher volatility (15.45%) compared to GLTR (9.50%). In terms of maximum drawdown, SMH dropped -84.96% vs GLTR's -55.70%.

On 10-year performance, SMH leads with 36.92% vs 12.31% for GLTR. On fees, SMH is cheaper at 0.35% per year. On volatility, GLTR has been the lower-risk option at 9.50%. 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 36.92% return vs 12.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SMH is cheaper with a 0.35% expense ratio, compared with 0.60% for GLTR.

SMH has the higher dividend yield at 0.18%, compared with 0.00% for GLTR.

SMH is categorized as Semiconductors, while GLTR is Precious Metals. SMH tracks MVIS US Listed Semiconductor 25 Index, while GLTR tracks ETFS Physical Precious Metals Basket Index. They also come from different issuers: VanEck and Aberdeen. Their fees differ too: 0.35% for SMH and 0.60% for GLTR.

SMH currently has the higher Sharpe Ratio (4.27 vs 1.19), 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.

Portfolio Optimizer

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