SMHX vs. IBIC

Last updated Jun 4, 2026

SMHX (VanEck Fabless Semiconductor ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - SMHX is a Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, SMHX returned 139.42% vs 4.54% for IBIC. At a correlation of -0.22, they often move in opposite directions. SMHX charges 0.35%/yr vs 0.10%/yr for IBIC.

Performance

SMHX vs. IBIC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Fabless Semiconductor ETF (SMHX) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMHX achieves a 78.44% return, which is significantly higher than IBIC's 2.37% return.

SMHX

• 1D: 0.94%
• 1M: 33.64%
• YTD: 78.44%
• 6M: 72.62%
• 1Y: 139.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIC

• 1D: 0.02%
• 1M: 0.27%
• YTD: 2.37%
• 6M: 2.51%
• 1Y: 4.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMHX vs. IBIC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMHX VanEck Fabless Semiconductor ETF	78.44%	30.00%	17.76%
IBIC iShares iBonds Oct 2026 Term TIPS ETF	2.37%	4.96%	1.63%

Correlation

The correlation between SMHX and IBIC is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (All Time) Calculated using the full available price history since Aug 29, 2024	-0.22

Return for Risk

SMHX vs. IBIC — Risk / Return Rank

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

SMHX

SMHX Risk / Return Rank: 93
SMHX Sharpe Ratio Rank: 96
SMHX Sortino Ratio Rank: 92
SMHX Omega Ratio Rank: 90
SMHX Calmar Ratio Rank: 95
SMHX Martin Ratio Rank: 92

IBIC

IBIC Risk / Return Rank: 98
IBIC Sharpe Ratio Rank: 97
IBIC Sortino Ratio Rank: 98
IBIC Omega Ratio Rank: 98
IBIC Calmar Ratio Rank: 98
IBIC 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. IBIC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Fabless Semiconductor ETF (SMHX) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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	IBIC	Difference
Sharpe ratio: Return per unit of total volatility	4.30	5.05	-0.75
Sortino ratio: Return per unit of downside risk	4.50	9.12	-4.62
Omega ratio: Gain probability vs. loss probability	1.59	2.24	-0.65
Calmar ratio: Return relative to maximum drawdown	8.22	17.27	-9.05
Martin ratio: Return relative to average drawdown	23.13	67.45	-44.32
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. IBIC - Sharpe Ratio Comparison

The current SMHX Sharpe Ratio is 4.30, which is comparable to the IBIC Sharpe Ratio of 5.05. The chart below compares the historical Sharpe Ratios of SMHX and IBIC, 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	IBIC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.30	5.05	-0.75
Sharpe Ratio (All Time) Calculated using the full available price history	1.94	3.49	-1.55

Drawdowns

SMHX vs. IBIC - Drawdown Comparison

The maximum SMHX drawdown since its inception was -38.53%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for SMHX and IBIC.

Drawdown Indicators

	SMHX	IBIC	Difference
Max Drawdown Largest peak-to-trough decline	-38.53%	-0.90%	-37.63%
Max Drawdown (1Y) Largest decline over 1 year	-17.06%	-0.26%	-16.80%
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-7.33%	-0.10%	-7.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.05%	0.07%	+5.98%

Volatility

SMHX vs. IBIC - Volatility Comparison

VanEck Fabless Semiconductor ETF (SMHX) has a higher volatility of 11.81% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.33%. This indicates that SMHX's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMHX	IBIC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.81%	0.33%	+11.48%
Volatility (6M) Calculated over the trailing 6-month period	25.06%	0.67%	+24.39%
Volatility (1Y) Calculated over the trailing 1-year period	32.69%	0.90%	+31.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.97%	1.58%	+38.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.97%	1.58%	+38.39%

SMHX vs. IBIC - Expense Ratio Comparison

SMHX has a 0.35% expense ratio, which is higher than IBIC's 0.10% expense ratio.

Dividends

SMHX vs. IBIC - Dividend Comparison

SMHX's dividend yield for the trailing twelve months is around 0.01%, less than IBIC's 3.59% yield.

Position	TTM	2025	2024	2023
IBIC iShares iBonds Oct 2026 Term TIPS ETF	3.59%	4.43%	4.65%	0.83%
SMHX VanEck Fabless Semiconductor ETF	0.01%	0.02%	0.04%	0.00%

Frequently Asked Questions

Can I hold both SMHX and IBIC in my portfolio?

SMHX and IBIC have a correlation of -0.22, 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 IBIC?

SMHX has higher volatility (11.81%) compared to IBIC (0.33%). In terms of maximum drawdown, SMHX dropped -38.53% vs IBIC's -0.90%.

Which ETF is better, SMHX or IBIC?

On 1-year performance, SMHX leads with 139.42% vs 4.54% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMHX or IBIC?

Over the 1-year period, SMHX has performed better with a 139.42% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMHX or IBIC?

IBIC is cheaper with a 0.10% expense ratio, compared with 0.35% for SMHX.

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

IBIC has the higher dividend yield at 3.59%, compared with 0.01% for SMHX.

What is the main difference between SMHX and IBIC?

SMHX is categorized as Semiconductors, while IBIC is Inflation-Protected Bonds. SMHX tracks MarketVector™ US Listed Fabless Semiconductor Index, while IBIC tracks ICE 2026 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.35% for SMHX and 0.10% for IBIC.

Which has better risk-adjusted returns?

IBIC currently has the higher Sharpe Ratio (5.05 vs 4.30), 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.