SMHX vs. SHOC

Last updated Aug 5, 2026

SMHX (VanEck Fabless Semiconductor ETF) and SHOC (Strive U.S. Semiconductor ETF) are both Semiconductors funds - SMHX tracks the MarketVector™ US Listed Fabless Semiconductor Index while SHOC tracks the Bloomberg US Listed Semiconductors Select Index. Both are passively managed. Over the past year, SMHX returned 70.23% vs 93.10% for SHOC. Their correlation of 0.94 means they have usually moved in the same direction. SMHX charges 0.35%/yr vs 0.40%/yr for SHOC.

Performance

SMHX vs. SHOC - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with SMHX having a 54.30% return and SHOC slightly higher at 56.69%.

SMHX

• 1D: 5.79%
• 1M: 0.05%
• 6M: 54.30%
• YTD: 54.30%
• 1Y: 70.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 54.49%

SHOC

• 1D: 6.05%
• 1M: -1.54%
• 6M: 43.47%
• YTD: 56.69%
• 1Y: 93.10%
• 3Y*: 45.72%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 46.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SHOC Strive U.S. Semiconductor ETF	$1.23M	$1.77M	$2.51M
SMHX VanEck Fabless Semiconductor ETF	$4.97M	$5.79M	$8.43M

SMHX vs. SHOC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMHX VanEck Fabless Semiconductor ETF	54.30%	30.00%	15.56%
SHOC Strive U.S. Semiconductor ETF	56.69%	49.91%	-2.55%

Correlation

The correlation between SMHX and SHOC is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024	0.94

The correlation between SMHX and SHOC has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

SMHX vs. SHOC - Sectors Allocation Comparison

Sectors	SMHX	SHOC
Technology	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SMHX vs. SHOC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SMHX

SMHX Risk / Return Rank: 65
SMHX Sharpe Ratio Rank: 68
SMHX Sortino Ratio Rank: 59
SMHX Omega Ratio Rank: 59
SMHX Calmar Ratio Rank: 72
SMHX Martin Ratio Rank: 65

SHOC

SHOC Risk / Return Rank: 83
SHOC Sharpe Ratio Rank: 88
SHOC Sortino Ratio Rank: 75
SHOC Omega Ratio Rank: 77
SHOC Calmar Ratio Rank: 86
SHOC Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SMHX vs. SHOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Fabless Semiconductor ETF (SMHX) and Strive U.S. Semiconductor ETF (SHOC). 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.

	SMHX	SHOC	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.32	-0.55
Sortino ratio: Return per unit of downside risk	2.25	2.72	-0.47
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	2.83	3.71	-0.88
Martin ratio: Return relative to average drawdown	8.68	14.86	-6.18

SMHX vs. SHOC - Sharpe Ratio Comparison

The current SMHX Sharpe Ratio is 1.77, which is comparable to the SHOC Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of SMHX and SHOC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SMHX vs. SHOC - Drawdown Comparison

The maximum SMHX drawdown since its inception was -38.53%, roughly equal to the maximum SHOC drawdown of -37.54%. Use the drawdown chart below to compare losses from any high point for SMHX and SHOC.

Drawdown Indicators

	SMHX	SHOC	Difference
Max Drawdown Largest peak-to-trough decline	-38.53%	-37.54%	-0.99%
Max Drawdown (1Y) Largest decline over 1 year	-24.93%	-25.20%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	—	-37.54%	—
Current Drawdown Current decline from peak	-13.53%	-13.76%	+0.23%
Average Drawdown Average peak-to-trough decline	-7.76%	-7.61%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.11%	6.29%	+1.82%

Volatility

SMHX vs. SHOC - Volatility Comparison

The current volatility for VanEck Fabless Semiconductor ETF (SMHX) is 15.07%, while Strive U.S. Semiconductor ETF (SHOC) has a volatility of 16.83%. This indicates that SMHX experiences smaller price fluctuations and is considered to be less risky than SHOC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMHX	SHOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.07%	16.83%	-1.76%
Volatility (6M) Calculated over the trailing 6-month period	33.70%	34.38%	-0.68%
Volatility (1Y) Calculated over the trailing 1-year period	39.93%	40.38%	-0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.11%	36.95%	+5.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.11%	36.95%	+5.16%

SMHX vs. SHOC - Expense Ratio Comparison

SMHX has a 0.35% expense ratio, which is lower than SHOC's 0.40% expense ratio.

Dividends

SMHX vs. SHOC - Dividend Comparison

SMHX's dividend yield for the trailing twelve months is around 0.02%, less than SHOC's 0.13% yield.

Position	TTM	2025	2024	2023	2022
SHOC Strive U.S. Semiconductor ETF	0.13%	0.23%	0.35%	0.65%	0.24%
SMHX VanEck Fabless Semiconductor ETF	0.02%	0.02%	0.04%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMHX and SHOC in my portfolio?

With a correlation of 0.93, SMHX and SHOC 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 is riskier, SMHX or SHOC?

SHOC has higher volatility (16.83%) compared to SMHX (15.07%). In terms of maximum drawdown, SMHX dropped -38.53% vs SHOC's -37.54%.

Which ETF is better, SMHX or SHOC?

On 1-year performance, SHOC leads with 93.10% vs 70.23% for SMHX. On fees, SMHX is cheaper at 0.35% per year. On volatility, SMHX has been the lower-risk option at 15.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMHX or SHOC?

Over the 1-year period, SHOC has performed better with a 93.10% return vs 70.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMHX or SHOC?

SMHX is cheaper with a 0.35% expense ratio, compared with 0.40% for SHOC.

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

SHOC has the higher dividend yield at 0.13%, compared with 0.02% for SMHX.

What is the main difference between SMHX and SHOC?

SMHX tracks MarketVector™ US Listed Fabless Semiconductor Index, while SHOC tracks Bloomberg US Listed Semiconductors Select Index. They also come from different issuers: VanEck and Strive. Their fees differ too: 0.35% for SMHX and 0.40% for SHOC.

Which has better risk-adjusted returns?

SHOC currently has the higher Sharpe Ratio (2.32 vs 1.77), 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.