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SMH vs. SCHH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMH vs. SCHH

Last updated Jun 13, 2026

SMH (VanEck Semiconductor ETF) and SCHH (Schwab US REIT ETF) are both exchange-traded funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while SCHH is a REIT fund tracking the Dow Jones Equity All REIT Capped Index. Both are passively managed. Over the past 10 years, SMH returned 37.49%/yr vs 4.51%/yr for SCHH. At a 0.36 correlation, their price movements are largely independent. SMH charges 0.35%/yr vs 0.07%/yr for SCHH.

Performance

SMH vs. SCHH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Semiconductor ETF (SMH) and Schwab US REIT ETF (SCHH). 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 72.15% return, which is significantly higher than SCHH's 16.33% return. Over the past 10 years, SMH has outperformed SCHH with an annualized return of 37.49%, while SCHH has yielded a comparatively lower 4.51% annualized return.

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%

SCHH

1D
1.00%
1M
3.60%
YTD
16.33%
6M
16.33%
1Y
17.06%
3Y*
11.02%
5Y*
3.40%
10Y*
4.51%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMH vs. SCHH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SMH
VanEck Semiconductor ETF		72.15%49.17%39.10%73.38%-33.53%42.13%55.53%64.45%-9.05%38.48%
SCHH
Schwab US REIT ETF		16.33%2.20%4.99%11.18%-24.99%41.07%-14.81%22.85%-4.26%3.68%

Correlation

The correlation between SMH and SCHH is 0.09, 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 (1Y)
Calculated over the trailing 1-year period

0.09

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

0.17

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

0.33

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

0.31

Correlation (All Time)
Calculated using the full available price history since Jan 13, 2011

0.36

Over the past year, the correlation between SMH and SCHH has dropped to 0.09 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.

SMH vs. SCHH - Sectors Allocation Comparison

Sectors
SMH
SCHH

Technology

100.0%

-

Basic Materials

-

1.3%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

0.2%

Healthcare

-

-

Industrials

-

-

Real Estate

-

98.5%

Utilities

-

-

Technology

SMH
100.0%
SCHH

-

Basic Materials

SMH

-

SCHH
1.3%

Communication Services

SMH

-

SCHH

-

Consumer Cyclical

SMH

-

SCHH

-

Consumer Defensive

SMH

-

SCHH

-

Energy

SMH

-

SCHH

-

Financial Services

SMH

-

SCHH
0.2%

Healthcare

SMH

-

SCHH

-

Industrials

SMH

-

SCHH

-

Real Estate

SMH

-

SCHH
98.5%

Utilities

SMH

-

SCHH

-

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

Schwab US REIT ETF

Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK
Often compared with SCHH:
SCHH vs. VNQSCHH vs. SCHDSCHH vs. XLRESCHH vs. FRELSCHH vs. FSRNXSCHH vs. VNQISCHH vs. REET

Return for Risk

SMH vs. SCHH — 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: 9494
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
SCHH
SCHH Risk / Return Rank: 3939
Overall Rank
SCHH Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
SCHH Sortino Ratio Rank: 3636
Sortino Ratio Rank
SCHH Omega Ratio Rank: 3636
Omega Ratio Rank
SCHH Calmar Ratio Rank: 4444
Calmar Ratio Rank
SCHH Martin Ratio Rank: 4343
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. SCHH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Schwab US REIT ETF (SCHH). 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.

SMHSCHHDifference
Sharpe ratioReturn per unit of total volatility
4.13
1.18

+2.95

Sortino ratioReturn per unit of downside risk
4.26
1.68

+2.59

Omega ratioGain probability vs. loss probability

1.60

1.21

+0.39

Calmar ratioReturn relative to maximum drawdown

9.18

1.94

+7.25

Martin ratioReturn relative to average drawdown

33.74

6.10

+27.64

SMH vs. SCHH - Sharpe Ratio Comparison

The current SMH Sharpe Ratio is 4.13, which is higher than the SCHH Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of SMH and SCHH, 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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Drawdowns

SMH vs. SCHH - Drawdown Comparison

The maximum SMH drawdown since its inception was -84.96%, which is greater than SCHH's maximum drawdown of -44.22%. Use the drawdown chart below to compare losses from any high point for SMH and SCHH.

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Drawdown Indicators

SMHSCHHDifference

Max Drawdown

Largest peak-to-trough decline

-84.96%

-44.22%

-40.74%

Max Drawdown (1Y)

Largest decline over 1 year

-14.93%

-8.28%

-6.65%

Max Drawdown (3Y)

Largest decline over 3 years

-35.74%

-17.76%

-17.98%

Max Drawdown (5Y)

Largest decline over 5 years

-45.30%

-33.28%

-12.02%

Max Drawdown (10Y)

Largest decline over 10 years

-45.30%

-44.22%

-1.08%

Current Drawdown

Current decline from peak

-2.81%

0.00%

-2.81%

Average Drawdown

Average peak-to-trough decline

-41.04%

-9.43%

-31.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.06%

2.63%

+1.43%

Volatility

SMH vs. SCHH - Volatility Comparison

VanEck Semiconductor ETF (SMH) has a higher volatility of 16.25% compared to Schwab US REIT ETF (SCHH) at 4.83%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than SCHH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMHSCHHDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.25%

4.83%

+11.42%

Volatility (6M)

Calculated over the trailing 6-month period

27.73%

9.98%

+17.75%

Volatility (1Y)

Calculated over the trailing 1-year period

33.20%

13.56%

+19.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.47%

18.74%

+16.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.82%

20.99%

+11.83%

SMH vs. SCHH - Expense Ratio Comparison

SMH has a 0.35% expense ratio, which is higher than SCHH's 0.07% expense ratio.

Dividends

SMH vs. SCHH - Dividend Comparison

SMH's dividend yield for the trailing twelve months is around 0.18%, less than SCHH's 2.69% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHH
Schwab US REIT ETF		2.69%3.04%3.22%3.24%2.55%1.50%2.86%2.86%3.64%2.22%2.81%2.48%
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 SCHH have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SMH has higher volatility (16.25%) compared to SCHH (4.83%). In terms of maximum drawdown, SMH dropped -84.96% vs SCHH's -44.22%.

On 10-year performance, SMH leads with 37.49% vs 4.51% for SCHH. On fees, SCHH is cheaper at 0.07% per year. On volatility, SCHH has been the lower-risk option at 4.83%. 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 37.49% return vs 4.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHH is cheaper with a 0.07% expense ratio, compared with 0.35% for SMH.

SCHH has the higher dividend yield at 2.69%, compared with 0.18% for SMH.

SMH is categorized as Semiconductors, while SCHH is REIT. SMH tracks MVIS US Listed Semiconductor 25 Index, while SCHH tracks Dow Jones Equity All REIT Capped Index. They also come from different issuers: VanEck and Charles Schwab. Their fees differ too: 0.35% for SMH and 0.07% for SCHH.

SMH currently has the higher Sharpe Ratio (4.13 vs 1.18), 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.

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