SMHC vs. NBCE

Last updated Jul 18, 2026

SMHC (VanEck China Semiconductor ETF) and NBCE (Neuberger Berman China Equity ETF) are both China Equities funds. SMHC is passively managed, while NBCE is actively managed. Their correlation of 0.95 suggests significant overlap in exposure. SMHC charges 0.65%/yr vs 0.74%/yr for NBCE.

Performance

SMHC vs. NBCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck China Semiconductor ETF (SMHC) and Neuberger Berman China Equity ETF (NBCE). 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*: —

NBCE

• 1D: -3.41%
• 1M: -14.65%
• 6M: 7.55%
• YTD: 13.11%
• 1Y: 38.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMHC vs. NBCE - Yearly Performance Comparison

	2026 (YTD)
SMHC VanEck China Semiconductor ETF	-15.04%
NBCE Neuberger Berman China Equity ETF	-14.36%

Correlation

The correlation between SMHC and NBCE is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	0.95

Return for Risk

SMHC vs. NBCE — 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.

NBCE

NBCE Risk / Return Rank: 66
NBCE Sharpe Ratio Rank: 67
NBCE Sortino Ratio Rank: 62
NBCE Omega Ratio Rank: 66
NBCE Calmar Ratio Rank: 59
NBCE Martin Ratio Rank: 76

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. NBCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck China Semiconductor ETF (SMHC) and Neuberger Berman China Equity ETF (NBCE). 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	NBCE	Difference
Sharpe ratio: Return per unit of total volatility	—	1.68	—
Sortino ratio: Return per unit of downside risk	—	2.25	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.26	—
Martin ratio: Return relative to average drawdown	—	10.58	—

Drawdowns

SMHC vs. NBCE - Drawdown Comparison

The maximum SMHC drawdown since its inception was -24.16%, smaller than the maximum NBCE drawdown of -28.42%. Use the drawdown chart below to compare losses from any high point for SMHC and NBCE.

Drawdown Indicators

	SMHC	NBCE	Difference
Max Drawdown Largest peak-to-trough decline	-24.16%	-28.42%	+4.26%
Max Drawdown (1Y) Largest decline over 1 year	—	-17.03%	—
Current Drawdown Current decline from peak	-24.16%	-17.03%	-7.13%
Average Drawdown Average peak-to-trough decline	-9.02%	-8.94%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.64%	—

Volatility

Volatility by Period

	SMHC	NBCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.74%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	80.83%	22.97%	+57.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.83%	24.96%	+55.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.83%	24.96%	+55.87%

SMHC vs. NBCE - Expense Ratio Comparison

SMHC has a 0.65% expense ratio, which is lower than NBCE's 0.74% expense ratio.

Dividends

SMHC vs. NBCE - Dividend Comparison

SMHC has not paid dividends to shareholders, while NBCE's dividend yield for the trailing twelve months is around 1.17%.

Position	TTM	2025	2024
NBCE Neuberger Berman China Equity ETF	1.17%	1.32%	1.20%
SMHC VanEck China Semiconductor ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMHC and NBCE in my portfolio?

With a correlation of 0.95, SMHC and NBCE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SMHC or NBCE?

On fees, SMHC is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMHC or NBCE?

SMHC is cheaper with a 0.65% expense ratio, compared with 0.74% for NBCE.

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

NBCE has the higher dividend yield at 1.17%, compared with 0.00% for SMHC.

What is the main difference between SMHC and NBCE?

They also come from different issuers: VanEck and Neuberger Berman. Their fees differ too: 0.65% for SMHC and 0.74% for NBCE.