SMH vs. USD
Compare and contrast key facts about VanEck Vectors Semiconductor ETF (SMH) and ProShares Ultra Semiconductors (USD).
SMH and USD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. USD is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Semiconductors Index (200%). It was launched on Jan 30, 2007. Both SMH and USD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SMH or USD.
Performance
SMH vs. USD - Performance Comparison
Returns By Period
In the year-to-date period, SMH achieves a 38.70% return, which is significantly lower than USD's 145.13% return. Over the past 10 years, SMH has underperformed USD with an annualized return of 28.01%, while USD has yielded a comparatively higher 46.27% annualized return.
SMH
38.70%
-4.07%
2.51%
50.18%
33.07%
28.01%
USD
145.13%
-5.84%
27.28%
183.55%
59.21%
46.27%
Key characteristics
| SMH | USD | |
|---|---|---|
| Sharpe Ratio | 1.39 | 2.19 |
| Sortino Ratio | 1.90 | 2.50 |
| Omega Ratio | 1.25 | 1.33 |
| Calmar Ratio | 1.93 | 3.65 |
| Martin Ratio | 5.19 | 9.61 |
| Ulcer Index | 9.24% | 18.18% |
| Daily Std Dev | 34.45% | 79.65% |
| Max Drawdown | -95.73% | -87.93% |
| Current Drawdown | -13.77% | -18.95% |
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SMH vs. USD - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is lower than USD's 0.95% expense ratio.
Correlation
The correlation between SMH and USD is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
SMH vs. USD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Semiconductor ETF (SMH) and ProShares Ultra Semiconductors (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.
Dividends
SMH vs. USD - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.43%, more than USD's 0.02% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Vectors Semiconductor ETF | 0.43% | 0.60% | 2.37% | 1.02% | 1.38% | 6.00% | 3.75% | 2.85% | 1.61% | 4.28% | 2.31% | 3.11% |
USD ProShares Ultra Semiconductors | 0.02% | 0.05% | 0.59% | 0.00% | 0.27% | 1.09% | 0.93% | 0.41% | 7.43% | 0.39% | 3.33% | 0.80% |
Drawdowns
SMH vs. USD - Drawdown Comparison
The maximum SMH drawdown since its inception was -95.73%, which is greater than USD's maximum drawdown of -87.93%. Use the drawdown chart below to compare losses from any high point for SMH and USD. For additional features, visit the drawdowns tool.
Volatility
SMH vs. USD - Volatility Comparison
The current volatility for VanEck Vectors Semiconductor ETF (SMH) is 8.33%, while ProShares Ultra Semiconductors (USD) has a volatility of 19.21%. This indicates that SMH experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.