SMH vs. SIVR
SMH (VanEck Semiconductor ETF) and SIVR (abrdn Physical Silver Shares ETF) are both exchange-traded funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt). Both are passively managed. Over the past 10 years, SMH returned 37.49%/yr vs 14.22%/yr for SIVR. At a 0.17 correlation, their price movements are largely independent. SMH charges 0.35%/yr vs 0.30%/yr for SIVR.
Performance
SMH vs. SIVR - Performance Comparison
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Returns By Period
In the year-to-date period, SMH achieves a 72.15% return, which is significantly higher than SIVR's -4.75% return. Over the past 10 years, SMH has outperformed SIVR with an annualized return of 37.49%, while SIVR has yielded a comparatively lower 14.22% annualized return.
SMH
- 1D
- 1.72%
- 1M
- 11.44%
- YTD
- 72.15%
- 6M
- 75.62%
- 1Y
- 141.99%
- 3Y*
- 60.05%
- 5Y*
- 38.42%
- 10Y*
- 37.49%
SIVR
- 1D
- 0.78%
- 1M
- -11.18%
- YTD
- -4.75%
- 6M
- 9.46%
- 1Y
- 86.32%
- 3Y*
- 41.59%
- 5Y*
- 19.07%
- 10Y*
- 14.22%
SMH vs. SIVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 72.15% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
SIVR abrdn Physical Silver Shares ETF | -4.75% | 145.34% | 21.08% | -0.91% | 2.59% | -12.33% | 47.52% | 15.17% | -8.96% | 5.97% |
Correlation
The correlation between SMH and SIVR is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2009 | 0.17 |
The correlation between SMH and SIVR shifts across timeframes, from 0.17 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SMH vs. SIVR — Risk / Return Rank
SMH
SIVR
SMH vs. SIVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and abrdn Physical Silver Shares ETF (SIVR). 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 | SIVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.50 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.29 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 9.18 | 1.90 | +7.28 |
| Martin ratioReturn relative to average drawdown | 33.74 | 4.12 | +29.62 |
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Drawdowns
SMH vs. SIVR - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than SIVR's maximum drawdown of -75.85%. Use the drawdown chart below to compare losses from any high point for SMH and SIVR.
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Drawdown Indicators
| SMH | SIVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -75.85% | -9.11% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -45.33% | +30.40% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -45.33% | +9.59% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -45.33% | +0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | -45.33% | +0.03% |
Current DrawdownCurrent decline from peak | -2.81% | -41.89% | +39.08% |
Average DrawdownAverage peak-to-trough decline | -41.04% | -47.83% | +6.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 20.85% | -16.79% |
Volatility
SMH vs. SIVR - Volatility Comparison
VanEck Semiconductor ETF (SMH) and abrdn Physical Silver Shares ETF (SIVR) have volatilities of 16.25% and 16.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH | SIVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.25% | 16.37% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 27.73% | 59.11% | -31.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.20% | 59.76% | -26.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.47% | 36.48% | -1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.82% | 32.03% | +0.79% |
SMH vs. SIVR - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is higher than SIVR's 0.30% expense ratio.
Dividends
SMH vs. SIVR - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.18%, while SIVR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SIVR abrdn Physical Silver 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 SIVR have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIVR has higher volatility (16.37%) compared to SMH (16.25%). In terms of maximum drawdown, SMH dropped -84.96% vs SIVR's -75.85%.
On 10-year performance, SMH leads with 37.49% vs 14.22% for SIVR. On fees, SIVR is cheaper at 0.30% per year. On volatility, SMH has been the lower-risk option at 16.25%. 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 14.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIVR is cheaper with a 0.30% expense ratio, compared with 0.35% for SMH.
SMH has the higher dividend yield at 0.18%, compared with 0.00% for SIVR.
SMH is categorized as Semiconductors, while SIVR is Silver. SMH tracks MVIS US Listed Semiconductor 25 Index, while SIVR tracks LBMA Silver Price ($/ozt). They also come from different issuers: VanEck and abrdn. Their fees differ too: 0.35% for SMH and 0.30% for SIVR.
SMH currently has the higher Sharpe Ratio (4.13 vs 1.44), 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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