TINY vs. SMH

Last updated Aug 2, 2026

TINY (ProShares Nanotechnology ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - TINY is a Technology Equities fund tracking the Solactive Nanotechnology Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 3 years, TINY returned 24.31%/yr vs 50.56%/yr for SMH. Their correlation of 0.89 means they have usually moved in the same direction. TINY charges 0.58%/yr vs 0.35%/yr for SMH.

Performance

TINY vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nanotechnology ETF (TINY) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TINY achieves a 43.61% return, which is significantly lower than SMH's 50.09% return.

TINY

• 1D: 1.48%
• 1M: -11.41%
• 6M: 20.75%
• YTD: 43.61%
• 1Y: 79.06%
• 3Y*: 24.31%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.00%

SMH

• 1D: 0.30%
• 1M: -8.74%
• 6M: 33.97%
• YTD: 50.09%
• 1Y: 90.95%
• 3Y*: 50.56%
• 5Y*: 33.46%
• 10Y*: 34.16%
• ALL TIME*: 11.06%

*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)
SMH VanEck Semiconductor ETF	$8.28B	$7.64B	$7.07B
TINY ProShares Nanotechnology ETF	$683.29K	$1.59M	$1.37M

TINY vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TINY ProShares Nanotechnology ETF	43.61%	19.98%	6.63%	47.97%	-34.14%	8.60%
SMH VanEck Semiconductor ETF	50.09%	49.17%	39.10%	73.38%	-33.53%	14.96%

Correlation

The correlation between TINY and SMH is 0.85, 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.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (All Time) Calculated using the full available price history since Oct 27, 2021	0.89

The correlation between TINY and SMH has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

TINY vs. SMH - Sectors Allocation Comparison

Sectors	TINY	SMH
Technology	74.7%	100.0%
Healthcare	9.1%	-
Basic Materials	7.8%	-
Consumer Cyclical	4.8%	-
Industrials	3.7%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TINY vs. SMH — Risk / Return Rank

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

TINY

TINY Risk / Return Rank: 80
TINY Sharpe Ratio Rank: 85
TINY Sortino Ratio Rank: 78
TINY Omega Ratio Rank: 77
TINY Calmar Ratio Rank: 78
TINY Martin Ratio Rank: 83

SMH

SMH Risk / Return Rank: 87
SMH Sharpe Ratio Rank: 91
SMH Sortino Ratio Rank: 83
SMH Omega Ratio Rank: 84
SMH Calmar Ratio Rank: 88
SMH Martin Ratio Rank: 91

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.

TINY vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nanotechnology ETF (TINY) and VanEck Semiconductor ETF (SMH). 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.

	TINY	SMH	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.29	-0.31
Sortino ratio: Return per unit of downside risk	2.50	2.70	-0.19
Omega ratio: Gain probability vs. loss probability	1.32	1.36	-0.04
Calmar ratio: Return relative to maximum drawdown	2.78	3.58	-0.81
Martin ratio: Return relative to average drawdown	11.41	14.64	-3.23

TINY vs. SMH - Sharpe Ratio Comparison

The current TINY Sharpe Ratio is 1.98, which is comparable to the SMH Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of TINY and SMH, 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

TINY vs. SMH - Drawdown Comparison

The maximum TINY drawdown since its inception was -43.79%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for TINY and SMH.

Drawdown Indicators

	TINY	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-43.79%	-84.96%	+41.17%
Max Drawdown (1Y) Largest decline over 1 year	-27.86%	-24.62%	-3.24%
Max Drawdown (3Y) Largest decline over 3 years	-42.13%	-35.74%	-6.39%
Max Drawdown (5Y) Largest decline over 5 years	—	-45.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.30%	—
Current Drawdown Current decline from peak	-21.24%	-19.19%	-2.05%
Average Drawdown Average peak-to-trough decline	-15.94%	-40.89%	+24.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.77%	6.01%	+0.76%

Volatility

TINY vs. SMH - Volatility Comparison

ProShares Nanotechnology ETF (TINY) has a higher volatility of 17.53% compared to VanEck Semiconductor ETF (SMH) at 14.70%. This indicates that TINY's price experiences larger fluctuations and is considered to be riskier than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TINY	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.53%	14.70%	+2.83%
Volatility (6M) Calculated over the trailing 6-month period	33.68%	33.13%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	39.15%	38.57%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.53%	36.50%	-2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.53%	33.32%	+0.21%

TINY vs. SMH - Expense Ratio Comparison

TINY has a 0.58% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

TINY vs. SMH - Dividend Comparison

TINY's dividend yield for the trailing twelve months is around 0.19%, less than SMH's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMH VanEck Semiconductor ETF	0.20%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%
TINY ProShares Nanotechnology ETF	0.19%	0.29%	0.01%	0.35%	0.42%	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TINY and SMH in my portfolio?

TINY and SMH have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TINY or SMH?

TINY has higher volatility (17.53%) compared to SMH (14.70%). In terms of maximum drawdown, TINY dropped -43.79% vs SMH's -84.96%.

Which ETF is better, TINY or SMH?

On 3-year performance, SMH leads with 50.56% vs 24.31% for TINY. On fees, SMH is cheaper at 0.35% per year. On volatility, SMH has been the lower-risk option at 14.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TINY or SMH?

Over the 3-year period, SMH has performed better with a 50.56% return vs 24.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TINY or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.58% for TINY.

Which ETF pays a higher dividend yield, TINY or SMH?

SMH has the higher dividend yield at 0.20%, compared with 0.19% for TINY.

What is the main difference between TINY and SMH?

TINY is categorized as Technology Equities, while SMH is Semiconductors. TINY tracks Solactive Nanotechnology Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: ProShares and VanEck. Their fees differ too: 0.58% for TINY and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (2.29 vs 1.98), 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.