SMH vs. SEMI
SMH (VanEck Semiconductor ETF) and SEMI (Columbia Select Technology ETF) are both Semiconductors funds. SMH is passively managed, while SEMI is actively managed. Over the past 3 years, SMH returned 55.82%/yr vs 25.80%/yr for SEMI. Their correlation of 0.94 means they have usually moved in the same direction. SMH charges 0.35%/yr vs 0.75%/yr for SEMI.
Performance
SMH vs. SEMI - Performance Comparison
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Returns By Period
In the year-to-date period, SMH achieves a 59.86% return, which is significantly higher than SEMI's 26.47% return.
SMH
- 1D
- 5.55%
- 1M
- -2.80%
- 6M
- 44.77%
- YTD
- 59.86%
- 1Y
- 99.01%
- 3Y*
- 55.82%
- 5Y*
- 34.46%
- 10Y*
- 34.72%
- ALL TIME*
- 11.32%
SEMI
- 1D
- 3.83%
- 1M
- 2.14%
- 6M
- 25.70%
- YTD
- 26.47%
- 1Y
- 39.97%
- 3Y*
- 25.80%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 17.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $386.20K | $338.51K | $559.57K | |
| $8.39B | $7.14B | $7.06B |
SMH vs. SEMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 59.86% | 49.17% | 39.10% | 73.38% | -27.63% |
SEMI Columbia Select Technology ETF | 26.47% | 24.91% | 15.87% | 45.37% | -23.94% |
Correlation
The correlation between SMH and SEMI is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022 | 0.94 |
The correlation between SMH and SEMI has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.
SMH vs. SEMI - Sectors Allocation Comparison
Sectors
SMH
SEMI
Technology
Basic Materials
-
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
-
Energy
-
-
Financial Services
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Utilities
-
-
Technology
SMH
SEMI
Basic Materials
SMH
-
SEMI
-
Communication Services
SMH
-
SEMI
Consumer Cyclical
SMH
-
SEMI
Consumer Defensive
SMH
-
SEMI
-
Energy
SMH
-
SEMI
-
Financial Services
SMH
-
SEMI
Healthcare
SMH
-
SEMI
-
Industrials
SMH
-
SEMI
-
Real Estate
SMH
-
SEMI
-
Utilities
SMH
-
SEMI
-
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Return for Risk
SMH vs. SEMI — Risk / Return Rank
SMH
SEMI
SMH vs. SEMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Columbia Select Technology ETF (SEMI). 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 | SEMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.25 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.04 | 2.60 | +1.44 |
| Martin ratioReturn relative to average drawdown | 16.06 | 8.41 | +7.65 |
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Drawdowns
SMH vs. SEMI - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than SEMI's maximum drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for SMH and SEMI.
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Drawdown Indicators
| SMH | SEMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -33.46% | -51.50% |
Max Drawdown (1Y)Largest decline over 1 year | -24.62% | -15.42% | -9.20% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -32.93% | -2.81% |
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 | -13.93% | -4.86% | -9.07% |
Average DrawdownAverage peak-to-trough decline | -40.88% | -9.78% | -31.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.19% | 4.77% | +1.42% |
Volatility
SMH vs. SEMI - Volatility Comparison
VanEck Semiconductor ETF (SMH) has a higher volatility of 15.13% compared to Columbia Select Technology ETF (SEMI) at 11.31%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than SEMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH | SEMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.13% | 11.31% | +3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 33.33% | 23.71% | +9.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.78% | 27.77% | +11.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.59% | 32.13% | +4.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.37% | 32.13% | +1.24% |
SMH vs. SEMI - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is lower than SEMI's 0.75% expense ratio.
Dividends
SMH vs. SEMI - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.19%, less than SEMI's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SEMI Columbia Select Technology ETF | 3.55% | 4.48% | 0.96% | 0.87% | 0.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMH VanEck Semiconductor ETF | 0.19% | 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
With a correlation of 0.91, SMH and SEMI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SMH has higher volatility (15.13%) compared to SEMI (11.31%). In terms of maximum drawdown, SMH dropped -84.96% vs SEMI's -33.46%.
On 3-year performance, SMH leads with 55.82% vs 25.80% for SEMI. On fees, SMH is cheaper at 0.35% per year. On volatility, SEMI has been the lower-risk option at 11.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SMH has performed better with a 55.82% return vs 25.80%. 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 0.75% for SEMI.
SEMI has the higher dividend yield at 3.55%, compared with 0.19% for SMH.
They also come from different issuers: VanEck and Columbia. Their fees differ too: 0.35% for SMH and 0.75% for SEMI.
SMH currently has the higher Sharpe Ratio (2.57 vs 1.45), 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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