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SMH vs. USD
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between SMH and USD is 0.77, 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.


-0.50.00.51.0
Correlation: 0.8

Performance

SMH vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Semiconductor ETF (SMH) and ProShares Ultra Semiconductors (USD). The values are adjusted to include any dividend payments, if applicable.

2,000.00%3,000.00%4,000.00%5,000.00%6,000.00%7,000.00%NovemberDecember2025FebruaryMarchApril
2,123.05%
3,837.83%
SMH
USD

Key characteristics

Sharpe Ratio

SMH:

0.06

USD:

-0.02

Sortino Ratio

SMH:

0.38

USD:

0.67

Omega Ratio

SMH:

1.05

USD:

1.09

Calmar Ratio

SMH:

0.07

USD:

-0.03

Martin Ratio

SMH:

0.17

USD:

-0.07

Ulcer Index

SMH:

14.52%

USD:

28.49%

Daily Std Dev

SMH:

43.08%

USD:

99.55%

Max Drawdown

SMH:

-83.29%

USD:

-87.94%

Current Drawdown

SMH:

-24.30%

USD:

-51.72%

Returns By Period

In the year-to-date period, SMH achieves a -12.47% return, which is significantly higher than USD's -39.07% return. Over the past 10 years, SMH has underperformed USD with an annualized return of 23.88%, while USD has yielded a comparatively higher 38.58% annualized return.


SMH

YTD

-12.47%

1M

-2.65%

6M

-15.83%

1Y

-2.17%

5Y*

26.95%

10Y*

23.88%

USD

YTD

-39.07%

1M

-7.10%

6M

-42.55%

1Y

-12.36%

5Y*

46.43%

10Y*

38.58%

*Annualized

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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.


Expense ratio chart for USD: current value is 0.95%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
USD: 0.95%
Expense ratio chart for SMH: current value is 0.35%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SMH: 0.35%

Risk-Adjusted Performance

SMH vs. USD — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SMH
The Risk-Adjusted Performance Rank of SMH is 3030
Overall Rank
The Sharpe Ratio Rank of SMH is 2626
Sharpe Ratio Rank
The Sortino Ratio Rank of SMH is 3535
Sortino Ratio Rank
The Omega Ratio Rank of SMH is 3434
Omega Ratio Rank
The Calmar Ratio Rank of SMH is 2828
Calmar Ratio Rank
The Martin Ratio Rank of SMH is 2525
Martin Ratio Rank

USD
The Risk-Adjusted Performance Rank of USD is 3232
Overall Rank
The Sharpe Ratio Rank of USD is 2121
Sharpe Ratio Rank
The Sortino Ratio Rank of USD is 5050
Sortino Ratio Rank
The Omega Ratio Rank of USD is 4848
Omega Ratio Rank
The Calmar Ratio Rank of USD is 1919
Calmar Ratio Rank
The Martin Ratio Rank of USD is 2020
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.


The chart of Sharpe ratio for SMH, currently valued at 0.06, compared to the broader market-1.000.001.002.003.004.00
SMH: 0.06
USD: -0.02
The chart of Sortino ratio for SMH, currently valued at 0.38, compared to the broader market-2.000.002.004.006.008.00
SMH: 0.38
USD: 0.67
The chart of Omega ratio for SMH, currently valued at 1.05, compared to the broader market0.501.001.502.002.50
SMH: 1.05
USD: 1.09
The chart of Calmar ratio for SMH, currently valued at 0.07, compared to the broader market0.002.004.006.008.0010.0012.00
SMH: 0.07
USD: -0.03
The chart of Martin ratio for SMH, currently valued at 0.17, compared to the broader market0.0020.0040.0060.00
SMH: 0.17
USD: -0.07

The current SMH Sharpe Ratio is 0.06, which is higher than the USD Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of SMH and USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
0.06
-0.02
SMH
USD

Dividends

SMH vs. USD - Dividend Comparison

SMH's dividend yield for the trailing twelve months is around 0.51%, more than USD's 0.29% yield.


TTM20242023202220212020201920182017201620152014
SMH
VanEck Vectors Semiconductor ETF
0.51%0.44%0.60%1.18%0.51%0.69%1.50%1.88%1.43%0.80%2.14%1.16%
USD
ProShares Ultra Semiconductors
0.29%0.10%0.05%0.30%0.00%0.14%0.72%0.93%0.32%7.11%0.39%2.71%

Drawdowns

SMH vs. USD - Drawdown Comparison

The maximum SMH drawdown since its inception was -83.29%, smaller than the maximum USD drawdown of -87.94%. Use the drawdown chart below to compare losses from any high point for SMH and USD. For additional features, visit the drawdowns tool.


-60.00%-50.00%-40.00%-30.00%-20.00%-10.00%0.00%NovemberDecember2025FebruaryMarchApril
-24.30%
-51.72%
SMH
USD

Volatility

SMH vs. USD - Volatility Comparison

The current volatility for VanEck Vectors Semiconductor ETF (SMH) is 23.93%, while ProShares Ultra Semiconductors (USD) has a volatility of 49.02%. 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.


10.00%20.00%30.00%40.00%50.00%NovemberDecember2025FebruaryMarchApril
23.93%
49.02%
SMH
USD