SMH vs. XSD
Compare and contrast key facts about VanEck Semiconductor ETF (SMH) and SPDR S&P Semiconductor ETF (XSD).
SMH and XSD 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. XSD is a passively managed fund by State Street that tracks the performance of the S&P Semiconductor Select Industry. It was launched on Jan 31, 2006. Both SMH and XSD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SMH vs. XSD - Performance Comparison
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SMH vs. XSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 8.84% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
XSD SPDR S&P Semiconductor ETF | 3.35% | 29.85% | 10.75% | 34.87% | -30.92% | 42.54% | 61.95% | 64.66% | -6.35% | 25.21% |
Returns By Period
In the year-to-date period, SMH achieves a 8.84% return, which is significantly higher than XSD's 3.35% return. Over the past 10 years, SMH has outperformed XSD with an annualized return of 31.58%, while XSD has yielded a comparatively lower 22.74% annualized return.
SMH
- 1D
- 2.24%
- 1M
- -3.55%
- YTD
- 8.84%
- 6M
- 17.83%
- 1Y
- 85.04%
- 3Y*
- 44.53%
- 5Y*
- 26.15%
- 10Y*
- 31.58%
XSD
- 1D
- 1.86%
- 1M
- -6.63%
- YTD
- 3.35%
- 6M
- 3.95%
- 1Y
- 65.25%
- 3Y*
- 17.08%
- 5Y*
- 12.25%
- 10Y*
- 22.74%
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SMH vs. XSD - Expense Ratio Comparison
Both SMH and XSD have an expense ratio of 0.35%.
Return for Risk
SMH vs. XSD — Risk / Return Rank
SMH
XSD
SMH vs. XSD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and SPDR S&P Semiconductor ETF (XSD). 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.
| SMH | XSD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.32 | 1.53 | +0.79 |
Sortino ratioReturn per unit of downside risk | 2.92 | 2.17 | +0.75 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.30 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 5.39 | 3.09 | +2.30 |
Martin ratioReturn relative to average drawdown | 19.22 | 10.40 | +8.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMH | XSD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 1.53 | +0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 0.33 | +0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | 0.66 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.35 | -0.06 |
Correlation
The correlation between SMH and XSD is 0.91, 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.
Dividends
SMH vs. XSD - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.28%, more than XSD's 0.24% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 0.28% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
XSD SPDR S&P Semiconductor ETF | 0.24% | 0.26% | 0.20% | 0.31% | 0.44% | 0.10% | 0.26% | 0.51% | 1.16% | 0.59% | 0.64% | 0.58% |
Drawdowns
SMH vs. XSD - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than XSD's maximum drawdown of -64.56%. Use the drawdown chart below to compare losses from any high point for SMH and XSD.
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Drawdown Indicators
| SMH | XSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -64.56% | -20.40% |
Max Drawdown (1Y)Largest decline over 1 year | -15.95% | -21.35% | +5.40% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -42.27% | -3.03% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | -42.27% | -3.03% |
Current DrawdownCurrent decline from peak | -8.02% | -9.88% | +1.86% |
Average DrawdownAverage peak-to-trough decline | -41.35% | -13.84% | -27.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.47% | 6.34% | -1.87% |
Volatility
SMH vs. XSD - Volatility Comparison
VanEck Semiconductor ETF (SMH) and SPDR S&P Semiconductor ETF (XSD) have volatilities of 11.74% and 12.23%, 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 | XSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.74% | 12.23% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 24.02% | 26.46% | -2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.88% | 42.93% | -6.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.68% | 37.53% | -2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.29% | 34.45% | -2.16% |