SMHX vs. VGT

Last updated Jun 24, 2026

SMHX (VanEck Fabless Semiconductor ETF) and VGT (Vanguard Information Technology ETF) are both exchange-traded funds - SMHX is a Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index, while VGT is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past year, SMHX returned 113.51% vs 46.82% for VGT. Their correlation of 0.91 suggests significant overlap in exposure. SMHX charges 0.35%/yr vs 0.09%/yr for VGT.

Performance

SMHX vs. VGT - Performance Comparison

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

Returns By Period

In the year-to-date period, SMHX achieves a 64.32% return, which is significantly higher than VGT's 23.32% return.

SMHX

• 1D: -5.60%
• 1M: 3.65%
• YTD: 64.32%
• 6M: 61.18%
• 1Y: 113.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGT

• 1D: -3.68%
• 1M: 0.28%
• YTD: 23.32%
• 6M: 21.50%
• 1Y: 46.82%
• 3Y*: 30.13%
• 5Y*: 19.51%
• 10Y*: 25.49%

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

SMHX vs. VGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMHX VanEck Fabless Semiconductor ETF	64.32%	30.00%	15.56%
VGT Vanguard Information Technology ETF	23.32%	21.77%	8.02%

Correlation

The correlation between SMHX and VGT is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024	0.91

The correlation between SMHX and VGT has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

SMHX vs. VGT - Sectors Allocation Comparison

Sectors	SMHX	VGT
Technology	100.0%	98.5%
Basic Materials	-	0.0%
Communication Services	-	0.5%
Consumer Cyclical	-	0.1%
Consumer Defensive	-	-
Energy	-	0.3%
Financial Services	-	0.5%
Healthcare	-	0.0%
Industrials	-	0.4%
Real Estate	-	-
Utilities	-	-

Return for Risk

SMHX vs. VGT — Risk / Return Rank

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

SMHX

SMHX Risk / Return Rank: 87
SMHX Sharpe Ratio Rank: 92
SMHX Sortino Ratio Rank: 80
SMHX Omega Ratio Rank: 81
SMHX Calmar Ratio Rank: 94
SMHX Martin Ratio Rank: 87

VGT

VGT Risk / Return Rank: 58
VGT Sharpe Ratio Rank: 65
VGT Sortino Ratio Rank: 56
VGT Omega Ratio Rank: 58
VGT Calmar Ratio Rank: 60
VGT Martin Ratio Rank: 52

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. VGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Fabless Semiconductor ETF (SMHX) and Vanguard Information Technology ETF (VGT). 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	VGT	Difference
Sharpe ratio: Return per unit of total volatility	3.11	2.07	+1.04
Sortino ratio: Return per unit of downside risk	3.36	2.61	+0.76
Omega ratio: Gain probability vs. loss probability	1.46	1.35	+0.11
Calmar ratio: Return relative to maximum drawdown	6.69	2.87	+3.82
Martin ratio: Return relative to average drawdown	17.96	8.76	+9.20

SMHX vs. VGT - Sharpe Ratio Comparison

The current SMHX Sharpe Ratio is 3.11, which is higher than the VGT Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of SMHX and VGT, 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. VGT - Drawdown Comparison

The maximum SMHX drawdown since its inception was -38.53%, smaller than the maximum VGT drawdown of -54.63%. Use the drawdown chart below to compare losses from any high point for SMHX and VGT.

Drawdown Indicators

	SMHX	VGT	Difference
Max Drawdown Largest peak-to-trough decline	-38.53%	-54.63%	+16.10%
Max Drawdown (1Y) Largest decline over 1 year	-17.06%	-16.40%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.23%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.07%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.07%	—
Current Drawdown Current decline from peak	-7.91%	-7.71%	-0.20%
Average Drawdown Average peak-to-trough decline	-7.34%	-7.95%	+0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.34%	5.36%	+0.98%

Volatility

SMHX vs. VGT - Volatility Comparison

VanEck Fabless Semiconductor ETF (SMHX) has a higher volatility of 19.93% compared to Vanguard Information Technology ETF (VGT) at 11.39%. This indicates that SMHX's price experiences larger fluctuations and is considered to be riskier than VGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMHX	VGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.93%	11.39%	+8.54%
Volatility (6M) Calculated over the trailing 6-month period	29.76%	18.58%	+11.18%
Volatility (1Y) Calculated over the trailing 1-year period	36.70%	22.72%	+13.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.48%	25.55%	+15.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.48%	24.77%	+16.71%

SMHX vs. VGT - Expense Ratio Comparison

SMHX has a 0.35% expense ratio, which is higher than VGT's 0.09% expense ratio.

Dividends

SMHX vs. VGT - Dividend Comparison

SMHX's dividend yield for the trailing twelve months is around 0.01%, less than VGT's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMHX VanEck Fabless Semiconductor ETF	0.01%	0.02%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VGT Vanguard Information Technology ETF	0.33%	0.40%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both SMHX and VGT in my portfolio?

SMHX and VGT have a correlation of 0.88, 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 VGT?

SMHX has higher volatility (19.93%) compared to VGT (11.39%). In terms of maximum drawdown, SMHX dropped -38.53% vs VGT's -54.63%.

Which ETF is better, SMHX or VGT?

On 1-year performance, SMHX leads with 113.51% vs 46.82% for VGT. On fees, VGT is cheaper at 0.09% per year. On volatility, VGT has been the lower-risk option at 11.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMHX or VGT?

Over the 1-year period, SMHX has performed better with a 113.51% return vs 46.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMHX or VGT?

VGT is cheaper with a 0.09% expense ratio, compared with 0.35% for SMHX.

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

VGT has the higher dividend yield at 0.33%, compared with 0.01% for SMHX.

What is the main difference between SMHX and VGT?

SMHX is categorized as Semiconductors, while VGT is Technology Equities. SMHX tracks MarketVector™ US Listed Fabless Semiconductor Index, while VGT tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.35% for SMHX and 0.09% for VGT.

Which has better risk-adjusted returns?

SMHX currently has the higher Sharpe Ratio (3.11 vs 2.07), 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.