SMHX vs. 3NIE.L

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck Fabless Semiconductor ETF (SMHX) and Leverage Shares 3x Long NIO ETP Securities (3NIE.L).

SMHX and 3NIE.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMHX is a passively managed fund by VanEck that tracks the performance of the MarketVector™ US Listed Fabless Semiconductor Index. It was launched on Aug 27, 2024. 3NIE.L is a passively managed fund by Leverage Shares that tracks the performance of the iSTOXX Leveraged 3x NIO Index. It was launched on Dec 10, 2021. Both SMHX and 3NIE.L 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

SMHX vs. 3NIE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Fabless Semiconductor ETF (SMHX) and Leverage Shares 3x Long NIO ETP Securities (3NIE.L). The values are adjusted to include any dividend payments, if applicable.

SMHX vs. 3NIE.L - Yearly Performance Comparison

	2026 (YTD)	2025
SMHX VanEck Fabless Semiconductor ETF	-0.32%	1.82%
3NIE.L Leverage Shares 3x Long NIO ETP Securities	5.39%	-21.24%

Returns By Period

In the year-to-date period, SMHX achieves a -0.32% return, which is significantly lower than 3NIE.L's 5.39% return.

SMHX

• 1D: 1.86%
• 1M: -2.70%
• YTD: -0.32%
• 6M: -1.36%
• 1Y: 60.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

3NIE.L

• 1D: 5.91%
• 1M: 84.55%
• YTD: 5.39%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMHX vs. 3NIE.L - Expense Ratio Comparison

SMHX has a 0.35% expense ratio, which is lower than 3NIE.L's 0.75% expense ratio.

3NIE.L

Leverage Shares 3x Long NIO ETP Securities

SMHX

VanEck Fabless Semiconductor ETF

Return for Risk

SMHX vs. 3NIE.L — Risk / Return Rank

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

SMHX

SMHX Risk / Return Rank: 83
SMHX Sharpe Ratio Rank: 80
SMHX Sortino Ratio Rank: 82
SMHX Omega Ratio Rank: 77
SMHX Calmar Ratio Rank: 93
SMHX Martin Ratio Rank: 82

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.

SMHX vs. 3NIE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Fabless Semiconductor ETF (SMHX) and Leverage Shares 3x Long NIO ETP Securities (3NIE.L). 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.

	SMHX	3NIE.L	Difference
Sharpe ratio Return per unit of total volatility	1.55	—	—
Sortino ratio Return per unit of downside risk	2.19	—	—
Omega ratio Gain probability vs. loss probability	1.30	—	—
Calmar ratio Return relative to maximum drawdown	3.56	—	—
Martin ratio Return relative to average drawdown	9.59	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SMHX	3NIE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	-0.25	+1.03

Correlation

The correlation between SMHX and 3NIE.L is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SMHX vs. 3NIE.L - Dividend Comparison

SMHX's dividend yield for the trailing twelve months is around 0.02%, while 3NIE.L has not paid dividends to shareholders.

	TTM	2025	2024
SMHX VanEck Fabless Semiconductor ETF	0.02%	0.02%	0.04%
3NIE.L Leverage Shares 3x Long NIO ETP Securities	0.00%	0.00%	0.00%

Drawdowns

SMHX vs. 3NIE.L - Drawdown Comparison

The maximum SMHX drawdown since its inception was -38.53%, smaller than the maximum 3NIE.L drawdown of -60.65%. Use the drawdown chart below to compare losses from any high point for SMHX and 3NIE.L.

Drawdown Indicators

	SMHX	3NIE.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.53%	-60.65%	+22.12%
Max Drawdown (1Y) Largest decline over 1 year	-17.51%	—	—
Current Drawdown Current decline from peak	-10.19%	-18.25%	+8.06%
Average Drawdown Average peak-to-trough decline	-7.94%	-39.03%	+31.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	—	—

Volatility

Volatility by Period

	SMHX	3NIE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	24.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	39.40%	164.11%	-124.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.80%	164.11%	-124.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.80%	164.11%	-124.31%