SMHC vs. JCHI

Last updated Jul 18, 2026

SMHC (VanEck China Semiconductor ETF) and JCHI (JPMorgan Active China ETF) are both China Equities funds. SMHC is passively managed, while JCHI is actively managed. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.

Performance

SMHC vs. JCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck China Semiconductor ETF (SMHC) and JPMorgan Active China ETF (JCHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMHC

• 1D: -6.17%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JCHI

• 1D: -2.23%
• 1M: -0.99%
• 6M: -6.35%
• YTD: -4.00%
• 1Y: 5.85%
• 3Y*: 7.44%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SMHC vs. JCHI - Yearly Performance Comparison

	2026 (YTD)
SMHC VanEck China Semiconductor ETF	-15.04%
JCHI JPMorgan Active China ETF	0.08%

Correlation

The correlation between SMHC and JCHI is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	0.70

Return for Risk

SMHC vs. JCHI — Risk / Return Rank

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

SMHC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

JCHI

JCHI Risk / Return Rank: 15
JCHI Sharpe Ratio Rank: 16
JCHI Sortino Ratio Rank: 15
JCHI Omega Ratio Rank: 15
JCHI Calmar Ratio Rank: 16
JCHI Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SMHC vs. JCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck China Semiconductor ETF (SMHC) and JPMorgan Active China ETF (JCHI). 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.

	SMHC	JCHI	Difference
Sharpe ratio: Return per unit of total volatility	—	0.31	—
Sortino ratio: Return per unit of downside risk	—	0.57	—
Omega ratio: Gain probability vs. loss probability	—	1.07	—
Calmar ratio: Return relative to maximum drawdown	—	0.41	—
Martin ratio: Return relative to average drawdown	—	0.84	—

Drawdowns

SMHC vs. JCHI - Drawdown Comparison

The maximum SMHC drawdown since its inception was -24.16%, smaller than the maximum JCHI drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for SMHC and JCHI.

Drawdown Indicators

	SMHC	JCHI	Difference
Max Drawdown Largest peak-to-trough decline	-24.16%	-29.57%	+5.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.37%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-27.47%	—
Current Drawdown Current decline from peak	-24.16%	-11.55%	-12.61%
Average Drawdown Average peak-to-trough decline	-9.02%	-13.22%	+4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.94%	—

Volatility

Volatility by Period

	SMHC	JCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	80.83%	18.73%	+62.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.83%	24.77%	+56.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.83%	24.77%	+56.06%

SMHC vs. JCHI - Expense Ratio Comparison

Both SMHC and JCHI have an expense ratio of 0.65%.

Dividends

SMHC vs. JCHI - Dividend Comparison

SMHC has not paid dividends to shareholders, while JCHI's dividend yield for the trailing twelve months is around 1.89%.

Position	TTM	2025	2024	2023
JCHI JPMorgan Active China ETF	1.89%	1.81%	2.12%	2.13%
SMHC VanEck China Semiconductor ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMHC and JCHI in my portfolio?

SMHC and JCHI have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMHC or JCHI?

Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMHC or JCHI?

SMHC and JCHI have the same expense ratio: 0.65% per year.

Which ETF pays a higher dividend yield, SMHC or JCHI?

JCHI has the higher dividend yield at 1.89%, compared with 0.00% for SMHC.

What is the main difference between SMHC and JCHI?

They also come from different issuers: VanEck and JPMorgan.