SMH vs. PSI
Compare and contrast key facts about VanEck Vectors Semiconductor ETF (SMH) and Invesco Dynamic Semiconductors ETF (PSI).
SMH and PSI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. PSI is a passively managed fund by Invesco that tracks the performance of the Dynamic Semiconductors Intellidex Index. It was launched on Jun 23, 2005. Both SMH and PSI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SMH or PSI.
Performance
SMH vs. PSI - Performance Comparison
Returns By Period
In the year-to-date period, SMH achieves a 38.70% return, which is significantly higher than PSI's 10.26% return. Over the past 10 years, SMH has outperformed PSI with an annualized return of 28.01%, while PSI has yielded a comparatively lower 22.04% annualized return.
SMH
38.70%
-4.07%
2.51%
50.18%
33.07%
28.01%
PSI
10.26%
-4.08%
-7.37%
24.54%
22.19%
22.04%
Key characteristics
| SMH | PSI | |
|---|---|---|
| Sharpe Ratio | 1.39 | 0.64 |
| Sortino Ratio | 1.90 | 1.05 |
| Omega Ratio | 1.25 | 1.14 |
| Calmar Ratio | 1.93 | 0.86 |
| Martin Ratio | 5.19 | 2.18 |
| Ulcer Index | 9.24% | 10.45% |
| Daily Std Dev | 34.45% | 35.47% |
| Max Drawdown | -95.73% | -62.96% |
| Current Drawdown | -13.77% | -18.26% |
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SMH vs. PSI - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is lower than PSI's 0.56% expense ratio.
Correlation
The correlation between SMH and PSI is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
SMH vs. PSI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Semiconductor ETF (SMH) and Invesco Dynamic Semiconductors ETF (PSI). 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.
Dividends
SMH vs. PSI - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.43%, more than PSI's 0.20% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Vectors Semiconductor ETF | 0.43% | 0.60% | 2.37% | 1.02% | 1.38% | 6.00% | 3.75% | 2.85% | 1.61% | 4.28% | 2.31% | 3.11% |
PSI Invesco Dynamic Semiconductors ETF | 0.20% | 0.40% | 0.61% | 0.14% | 0.21% | 0.52% | 0.83% | 0.21% | 0.68% | 0.16% | 1.77% | 0.57% |
Drawdowns
SMH vs. PSI - Drawdown Comparison
The maximum SMH drawdown since its inception was -95.73%, which is greater than PSI's maximum drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for SMH and PSI. For additional features, visit the drawdowns tool.
Volatility
SMH vs. PSI - Volatility Comparison
The current volatility for VanEck Vectors Semiconductor ETF (SMH) is 8.33%, while Invesco Dynamic Semiconductors ETF (PSI) has a volatility of 9.64%. This indicates that SMH experiences smaller price fluctuations and is considered to be less risky than PSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.