SMH vs. VBTLX
SMH (VanEck Semiconductor ETF) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, SMH returned 37.49%/yr vs 1.54%/yr for VBTLX. At a correlation of -0.18, they often move in opposite directions. SMH charges 0.35%/yr vs 0.04%/yr for VBTLX.
Performance
SMH vs. VBTLX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SMH achieves a 72.15% return, which is significantly higher than VBTLX's 0.42% return. Over the past 10 years, SMH has outperformed VBTLX with an annualized return of 37.49%, while VBTLX has yielded a comparatively lower 1.54% 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%
VBTLX
- 1D
- 0.52%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.97%
- 1Y
- 4.90%
- 3Y*
- 4.05%
- 5Y*
- 0.05%
- 10Y*
- 1.54%
SMH vs. VBTLX - 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% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between SMH and VBTLX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001 | -0.18 |
The correlation between SMH and VBTLX shifts across timeframes, from -0.18 (all time) to 0.11 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SMH vs. VBTLX — Risk / Return Rank
SMH
VBTLX
SMH vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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 | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.88 | ||
| Sortino ratioReturn per unit of downside risk | +2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.22 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 9.18 | 1.70 | +7.48 |
| Martin ratioReturn relative to average drawdown | 33.74 | 4.93 | +28.81 |
Loading charts...
Drawdowns
SMH vs. VBTLX - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for SMH and VBTLX.
Loading charts...
Drawdown Indicators
| SMH | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -18.81% | -66.15% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -2.89% | -12.04% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -6.00% | -29.74% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -18.14% | -27.16% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | -18.81% | -26.49% |
Current DrawdownCurrent decline from peak | -2.81% | -2.18% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -41.04% | -2.67% | -38.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 1.00% | +3.06% |
Volatility
SMH vs. VBTLX - Volatility Comparison
VanEck Semiconductor ETF (SMH) has a higher volatility of 16.25% compared to Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) at 1.33%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SMH | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.25% | 1.33% | +14.92% |
Volatility (6M)Calculated over the trailing 6-month period | 27.73% | 2.85% | +24.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.20% | 3.93% | +29.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.47% | 6.01% | +29.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.82% | 4.98% | +27.84% |
SMH vs. VBTLX - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is higher than VBTLX's 0.04% expense ratio.
Dividends
SMH vs. VBTLX - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.18%, less than VBTLX's 3.98% yield.
| 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% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Frequently Asked Questions
SMH and VBTLX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMH has higher volatility (16.25%) compared to VBTLX (1.33%). In terms of maximum drawdown, SMH dropped -84.96% vs VBTLX's -18.81%.
SMH currently has the higher Sharpe Ratio (4.13 vs 1.25), 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.
Find the right allocation for SMH and VBTLX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer