SMH vs. SVR-C.TO
SMH (VanEck Semiconductor ETF) and SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) are both exchange-traded funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while SVR-C.TO is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, SMH returned 37.49%/yr vs 13.85%/yr for SVR-C.TO. At a 0.07 correlation, their price movements are largely independent. SMH charges 0.35%/yr vs 0.66%/yr for SVR-C.TO.
Performance
SMH vs. SVR-C.TO - Performance Comparison
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Different Trading Currencies
SMH is traded in USD, while SVR-C.TO is traded in CAD. To make them comparable, the SVR-C.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SMH achieves a 72.15% return, which is significantly higher than SVR-C.TO's -5.49% return. Over the past 10 years, SMH has outperformed SVR-C.TO with an annualized return of 37.49%, while SVR-C.TO has yielded a comparatively lower 13.85% 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%
SVR-C.TO
- 1D
- 1.13%
- 1M
- -22.70%
- YTD
- -5.49%
- 6M
- 8.59%
- 1Y
- 84.47%
- 3Y*
- 40.88%
- 5Y*
- 18.55%
- 10Y*
- 13.85%
SMH vs. SVR-C.TO - 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% |
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | -5.39% | 144.05% | 20.41% | -0.28% | 3.15% | -12.98% | 47.38% | 13.97% | -9.93% | 4.80% |
Correlation
The correlation between SMH and SVR-C.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2012 | 0.07 |
Over the past year, SMH and SVR-C.TO have become more correlated (0.28) than their long-term average of 0.07, meaning their price movements have been converging.
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Return for Risk
SMH vs. SVR-C.TO — Risk / Return Rank
SMH
SVR-C.TO
SMH vs. SVR-C.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO). 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 | SVR-C.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.67 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.29 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 9.18 | 1.87 | +7.31 |
| Martin ratioReturn relative to average drawdown | 33.74 | 4.06 | +29.68 |
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Drawdowns
SMH vs. SVR-C.TO - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than SVR-C.TO's maximum drawdown of -67.24%. Use the drawdown chart below to compare losses from any high point for SMH and SVR-C.TO.
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Drawdown Indicators
| SMH | SVR-C.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -67.24% | -17.72% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -45.37% | +30.44% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -45.37% | +9.63% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -45.37% | +0.07% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | -45.37% | +0.07% |
Current DrawdownCurrent decline from peak | -2.81% | -41.97% | +39.16% |
Average DrawdownAverage peak-to-trough decline | -41.04% | -39.98% | -1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 20.87% | -16.81% |
Volatility
SMH vs. SVR-C.TO - Volatility Comparison
VanEck Semiconductor ETF (SMH) has a higher volatility of 16.25% compared to iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) at 15.47%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than SVR-C.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH | SVR-C.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.25% | 15.47% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 27.73% | 56.54% | -28.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.20% | 58.17% | -24.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.47% | 36.41% | -0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.82% | 32.37% | +0.45% |
SMH vs. SVR-C.TO - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is lower than SVR-C.TO's 0.66% expense ratio.
Dividends
SMH vs. SVR-C.TO - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.18%, while SVR-C.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMH and SVR-C.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMH is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMH is cheaper with a 0.35% expense ratio, compared with 0.66% for SVR-C.TO.
SMH is categorized as Semiconductors, while SVR-C.TO is Silver. SMH tracks MVIS US Listed Semiconductor 25 Index, while SVR-C.TO tracks LBMA Silver Price. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.35% for SMH and 0.66% for SVR-C.TO.
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