SMHX vs. CHPX

Last updated Jun 3, 2026

SMHX (VanEck Fabless Semiconductor ETF) and CHPX (Global X AI Semiconductor & Quantum ETF) are both Semiconductors funds - SMHX tracks the MarketVector™ US Listed Fabless Semiconductor Index while CHPX tracks the Global X AI Semiconductor & Quantum Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. SMHX charges 0.35%/yr vs 0.50%/yr for CHPX.

Performance

SMHX vs. CHPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Fabless Semiconductor ETF (SMHX) and Global X AI Semiconductor & Quantum ETF (CHPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMHX achieves a 76.78% return, which is significantly lower than CHPX's 99.74% return.

SMHX

• 1D: 5.94%
• 1M: 31.13%
• YTD: 76.78%
• 6M: 74.71%
• 1Y: 143.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHPX

• 1D: 3.45%
• 1M: 35.81%
• YTD: 99.74%
• 6M: 96.47%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMHX vs. CHPX - Yearly Performance Comparison

	2026 (YTD)	2025
SMHX VanEck Fabless Semiconductor ETF	76.78%	-1.04%
CHPX Global X AI Semiconductor & Quantum ETF	99.74%	5.55%

Correlation

The correlation between SMHX and CHPX is 0.91, 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 Oct 2, 2025	0.91

Return for Risk

SMHX vs. CHPX — Risk / Return Rank

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

SMHX

SMHX Risk / Return Rank: 94
SMHX Sharpe Ratio Rank: 96
SMHX Sortino Ratio Rank: 92
SMHX Omega Ratio Rank: 91
SMHX Calmar Ratio Rank: 95
SMHX Martin Ratio Rank: 93

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. CHPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Fabless Semiconductor ETF (SMHX) and Global X AI Semiconductor & Quantum ETF (CHPX). 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	CHPX	Difference
Sharpe ratio Return per unit of total volatility	4.40	—	—
Sortino ratio Return per unit of downside risk	4.57	—	—
Omega ratio Gain probability vs. loss probability	1.60	—	—
Calmar ratio Return relative to maximum drawdown	8.64	—	—
Martin ratio Return relative to average drawdown	24.36	—	—
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	CHPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.92	5.44	-3.51

Drawdowns

SMHX vs. CHPX - Drawdown Comparison

The maximum SMHX drawdown since its inception was -38.53%, which is greater than CHPX's maximum drawdown of -15.15%. Use the drawdown chart below to compare losses from any high point for SMHX and CHPX.

Drawdown Indicators

	SMHX	CHPX	Difference
Max Drawdown Largest peak-to-trough decline	-38.53%	-15.15%	-23.38%
Max Drawdown (1Y) Largest decline over 1 year	-17.06%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.35%	-3.80%	-3.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.05%	—	—

Volatility

Volatility by Period

	SMHX	CHPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.04%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	32.72%	38.40%	-5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.01%	38.40%	+1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.01%	38.40%	+1.61%

SMHX vs. CHPX - Expense Ratio Comparison

SMHX has a 0.35% expense ratio, which is lower than CHPX's 0.50% expense ratio.

Dividends

SMHX vs. CHPX - Dividend Comparison

SMHX's dividend yield for the trailing twelve months is around 0.01%, less than CHPX's 0.03% yield.

Position	TTM	2025	2024
CHPX Global X AI Semiconductor & Quantum ETF	0.03%	0.06%	0.00%
SMHX VanEck Fabless Semiconductor ETF	0.01%	0.02%	0.04%

Frequently Asked Questions

Can I hold both SMHX and CHPX in my portfolio?

With a correlation of 0.91, SMHX and CHPX 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, SMHX or CHPX?

On fees, SMHX is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMHX or CHPX?

SMHX is cheaper with a 0.35% expense ratio, compared with 0.50% for CHPX.

Which ETF pays a higher dividend yield, SMHX or CHPX?

CHPX has the higher dividend yield at 0.03%, compared with 0.01% for SMHX.

What is the main difference between SMHX and CHPX?

SMHX tracks MarketVector™ US Listed Fabless Semiconductor Index, while CHPX tracks Global X AI Semiconductor & Quantum Index. They also come from different issuers: VanEck and Global X. Their fees differ too: 0.35% for SMHX and 0.50% for CHPX.