SMH vs. QTUM-USD

Last updated Apr 3, 2026

Compare and contrast key facts about VanEck Semiconductor ETF (SMH) and QTUM (QTUM-USD).

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.

Performance

SMH vs. QTUM-USD - Performance Comparison

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

SMH vs. QTUM-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMH VanEck Semiconductor ETF	8.94%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	-3.00%
QTUM-USD QTUM	-34.44%	-55.51%	-19.33%	103.93%	-79.08%	293.16%	38.57%	-24.72%	-96.59%	422.64%

Returns By Period

In the year-to-date period, SMH achieves a 8.94% return, which is significantly higher than QTUM-USD's -34.44% return.

SMH

• 1D: 0.09%
• 1M: 0.32%
• YTD: 8.94%
• 6M: 16.35%
• 1Y: 83.82%
• 3Y*: 44.85%
• 5Y*: 26.17%
• 10Y*: 31.69%

QTUM-USD

• 1D: -6.53%
• 1M: -3.97%
• YTD: -34.44%
• 6M: -61.41%
• 1Y: -52.18%
• 3Y*: -34.50%
• 5Y*: -38.21%
• 10Y*: —

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

Return for Risk

SMH vs. QTUM-USD — 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: 93
SMH Sortino Ratio Rank: 93
SMH Omega Ratio Rank: 91
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 96

QTUM-USD

QTUM-USD Risk / Return Rank: 49
QTUM-USD Sharpe Ratio Rank: 39
QTUM-USD Sortino Ratio Rank: 42
QTUM-USD Omega Ratio Rank: 42
QTUM-USD Calmar Ratio Rank: 61
QTUM-USD Martin Ratio Rank: 60

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. QTUM-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and QTUM (QTUM-USD). 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.

	SMH	QTUM-USD	Difference
Sharpe ratio Return per unit of total volatility	2.28	-0.64	+2.92
Sortino ratio Return per unit of downside risk	2.89	-0.69	+3.58
Omega ratio Gain probability vs. loss probability	1.41	0.93	+0.48
Calmar ratio Return relative to maximum drawdown	5.34	-1.01	+6.35
Martin ratio Return relative to average drawdown	18.94	-1.53	+20.47
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. QTUM-USD - Sharpe Ratio Comparison

The current SMH Sharpe Ratio is 2.28, which is higher than the QTUM-USD Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of SMH and QTUM-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMH	QTUM-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	-0.64	+2.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	-0.36	+1.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.98	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	-0.22	+0.50

Correlation

The correlation between SMH and QTUM-USD is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

SMH vs. QTUM-USD - Drawdown Comparison

The maximum SMH drawdown since its inception was -84.96%, smaller than the maximum QTUM-USD drawdown of -99.16%. Use the drawdown chart below to compare losses from any high point for SMH and QTUM-USD.

Drawdown Indicators

	SMH	QTUM-USD	Difference
Max Drawdown Largest peak-to-trough decline	-84.96%	-99.16%	+14.20%
Max Drawdown (1Y) Largest decline over 1 year	-14.93%	-74.30%	+59.37%
Max Drawdown (5Y) Largest decline over 5 years	-45.30%	-97.08%	+51.78%
Max Drawdown (10Y) Largest decline over 10 years	-45.30%	—	—
Current Drawdown Current decline from peak	-7.94%	-99.07%	+91.13%
Average Drawdown Average peak-to-trough decline	-41.35%	-93.16%	+51.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.50%	49.23%	-44.73%

Volatility

SMH vs. QTUM-USD - Volatility Comparison

The current volatility for VanEck Semiconductor ETF (SMH) is 11.55%, while QTUM (QTUM-USD) has a volatility of 21.63%. This indicates that SMH experiences smaller price fluctuations and is considered to be less risky than QTUM-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMH	QTUM-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.55%	21.63%	-10.08%
Volatility (6M) Calculated over the trailing 6-month period	23.93%	62.45%	-38.52%
Volatility (1Y) Calculated over the trailing 1-year period	36.88%	68.39%	-31.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.67%	87.61%	-52.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.28%	100.20%	-67.92%