SMHX vs. ARKVX

Last updated Jun 5, 2026

SMHX (VanEck Fabless Semiconductor ETF) and ARKVX (ARK Venture Fund) are both funds - SMHX is a Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index, while ARKVX is a Technology Equities fund actively managed by ARK. SMHX is passively managed, while ARKVX is actively managed. Over the past year, SMHX returned 131.85% vs 73.96% for ARKVX. A 0.53 correlation means they provide meaningful diversification when combined. SMHX charges 0.35%/yr vs 2.90%/yr for ARKVX.

Performance

SMHX vs. ARKVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Fabless Semiconductor ETF (SMHX) and ARK Venture Fund (ARKVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMHX achieves a 74.81% return, which is significantly higher than ARKVX's 14.60% return.

SMHX

• 1D: -2.03%
• 1M: 27.33%
• YTD: 74.81%
• 6M: 68.22%
• 1Y: 131.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARKVX

• 1D: 2.42%
• 1M: 5.42%
• YTD: 14.60%
• 6M: 29.28%
• 1Y: 73.96%
• 3Y*: 37.85%
• 5Y*: —
• 10Y*: —

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

SMHX vs. ARKVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMHX VanEck Fabless Semiconductor ETF	74.81%	30.00%	17.76%
ARKVX ARK Venture Fund	14.60%	55.68%	14.89%

Correlation

The correlation between SMHX and ARKVX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Aug 29, 2024	0.53

The correlation between SMHX and ARKVX shifts across timeframes, from 0.39 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SMHX vs. ARKVX — Risk / Return Rank

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

SMHX

SMHX Risk / Return Rank: 92
SMHX Sharpe Ratio Rank: 96
SMHX Sortino Ratio Rank: 91
SMHX Omega Ratio Rank: 89
SMHX Calmar Ratio Rank: 95
SMHX Martin Ratio Rank: 91

ARKVX

ARKVX Risk / Return Rank: 99
ARKVX Sharpe Ratio Rank: 99
ARKVX Sortino Ratio Rank: 100
ARKVX Omega Ratio Rank: 98
ARKVX Calmar Ratio Rank: 98
ARKVX Martin Ratio Rank: 98

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. ARKVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Fabless Semiconductor ETF (SMHX) and ARK Venture Fund (ARKVX). 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	ARKVX	Difference
Sharpe ratio: Return per unit of total volatility	4.06	4.19	-0.14
Sortino ratio: Return per unit of downside risk	4.32	11.53	-7.21
Omega ratio: Gain probability vs. loss probability	1.56	2.43	-0.87
Calmar ratio: Return relative to maximum drawdown	7.78	9.59	-1.82
Martin ratio: Return relative to average drawdown	21.87	36.73	-14.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMHX vs. ARKVX - Sharpe Ratio Comparison

The current SMHX Sharpe Ratio is 4.06, which is comparable to the ARKVX Sharpe Ratio of 4.19. The chart below compares the historical Sharpe Ratios of SMHX and ARKVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SMHX	ARKVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.06	4.19	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	1.89	1.90	-0.01

Drawdowns

SMHX vs. ARKVX - Drawdown Comparison

The maximum SMHX drawdown since its inception was -38.53%, which is greater than ARKVX's maximum drawdown of -19.10%. Use the drawdown chart below to compare losses from any high point for SMHX and ARKVX.

Drawdown Indicators

	SMHX	ARKVX	Difference
Max Drawdown Largest peak-to-trough decline	-38.53%	-19.10%	-19.43%
Max Drawdown (1Y) Largest decline over 1 year	-17.06%	-8.14%	-8.92%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.10%	—
Current Drawdown Current decline from peak	-2.03%	0.00%	-2.03%
Average Drawdown Average peak-to-trough decline	-7.32%	-4.20%	-3.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.05%	2.09%	+3.96%

Volatility

SMHX vs. ARKVX - Volatility Comparison

VanEck Fabless Semiconductor ETF (SMHX) has a higher volatility of 12.19% compared to ARK Venture Fund (ARKVX) at 4.94%. This indicates that SMHX's price experiences larger fluctuations and is considered to be riskier than ARKVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMHX	ARKVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.19%	4.94%	+7.25%
Volatility (6M) Calculated over the trailing 6-month period	25.18%	13.33%	+11.85%
Volatility (1Y) Calculated over the trailing 1-year period	32.71%	18.64%	+14.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.96%	18.70%	+21.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.96%	18.70%	+21.26%

SMHX vs. ARKVX - Expense Ratio Comparison

SMHX has a 0.35% expense ratio, which is lower than ARKVX's 2.90% expense ratio.

Dividends

SMHX vs. ARKVX - Dividend Comparison

SMHX's dividend yield for the trailing twelve months is around 0.01%, while ARKVX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
ARKVX ARK Venture Fund	0.00%	0.00%	0.32%	0.72%
SMHX VanEck Fabless Semiconductor ETF	0.01%	0.02%	0.04%	0.00%

Frequently Asked Questions

Can I hold both SMHX and ARKVX in my portfolio?

SMHX and ARKVX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMHX or ARKVX?

SMHX has higher volatility (12.19%) compared to ARKVX (4.94%). In terms of maximum drawdown, SMHX dropped -38.53% vs ARKVX's -19.10%.

Which has better risk-adjusted returns?

ARKVX currently has the higher Sharpe Ratio (4.19 vs 4.06), 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.