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USD=X vs. SMH
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. SMH

Last updated Jun 9, 2026

USD=X (USD Cash) is a currency, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, USD=X returned 0.00%/yr vs 36.92%/yr for SMH.

Performance

USD=X vs. SMH - Performance Comparison

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

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

SMH

1D
5.00%
1M
5.58%
YTD
66.10%
6M
62.81%
1Y
137.42%
3Y*
60.43%
5Y*
37.89%
10Y*
36.92%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD=X vs. SMH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SMH
VanEck Semiconductor ETF		66.10%49.17%39.10%73.38%-33.53%42.13%55.53%64.45%-9.05%38.48%

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USD Cash

VanEck Semiconductor ETF

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK

Return for Risk

USD=X vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USD=X
SMH
SMH Risk / Return Rank: 9696
Overall Rank
SMH Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9393
Sortino Ratio Rank
SMH Omega Ratio Rank: 9494
Omega Ratio Rank
SMH Calmar Ratio Rank: 9797
Calmar Ratio Rank
SMH Martin Ratio Rank: 9696
Martin Ratio Rank
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.

USD=X vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

USD=X vs. SMH - Sharpe Ratio Comparison

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Sharpe Ratios by Period

USD=XSMHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

4.27

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.08

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.13

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

0.33

—

Drawdowns

USD=X vs. SMH - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for USD=X and SMH.

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Drawdown Indicators

USD=XSMHDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-84.96%

+84.96%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-14.93%

+14.93%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-35.74%

+35.74%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-45.30%

+45.30%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-45.30%

+45.30%

Current Drawdown

Current decline from peak

0.00%

-6.23%

+6.23%

Average Drawdown

Average peak-to-trough decline

0.00%

-41.07%

+41.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

3.96%

-3.96%

Volatility

USD=X vs. SMH - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while VanEck Semiconductor ETF (SMH) has a volatility of 15.45%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USD=XSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

15.45%

-15.45%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

26.71%

-26.71%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

32.42%

-32.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

35.32%

-35.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

32.75%

-32.75%

Frequently Asked Questions

SMH has higher volatility (15.45%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs SMH's -84.96%.

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