VAVX vs. SMH

Last updated Jul 16, 2026

VAVX (VanEck Avalanche ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - VAVX is a Cryptocurrency fund tracking the MarketVector Avalanche Benchmark Rate, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. At a 0.41 correlation, their price movements are largely independent. VAVX charges 0.20%/yr vs 0.35%/yr for SMH.

Performance

VAVX vs. SMH - Performance Comparison

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

Returns By Period

VAVX

• 1D: 0.33%
• 1M: -2.50%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH

• 1D: -1.59%
• 1M: -8.70%
• 6M: 52.12%
• YTD: 64.04%
• 1Y: 103.79%
• 3Y*: 56.28%
• 5Y*: 37.60%
• 10Y*: 36.05%

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

VAVX vs. SMH - Yearly Performance Comparison

	2026 (YTD)
VAVX VanEck Avalanche ETF	-42.95%
SMH VanEck Semiconductor ETF	47.66%

Correlation

The correlation between VAVX and SMH is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 26, 2026	0.41

Return for Risk

VAVX vs. SMH — Risk / Return Rank

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

VAVX

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

SMH

SMH Risk / Return Rank: 92
SMH Sharpe Ratio Rank: 94
SMH Sortino Ratio Rank: 86
SMH Omega Ratio Rank: 88
SMH Calmar Ratio Rank: 96
SMH Martin Ratio Rank: 95

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.

VAVX vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Avalanche ETF (VAVX) 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.

	VAVX	SMH	Difference
Sharpe ratio: Return per unit of total volatility	—	2.84	—
Sortino ratio: Return per unit of downside risk	—	3.13	—
Omega ratio: Gain probability vs. loss probability	—	1.43	—
Calmar ratio: Return relative to maximum drawdown	—	6.99	—
Martin ratio: Return relative to average drawdown	—	22.21	—

Drawdowns

VAVX vs. SMH - Drawdown Comparison

The maximum VAVX drawdown since its inception was -48.92%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for VAVX and SMH.

Drawdown Indicators

	VAVX	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-48.92%	-84.96%	+36.04%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.93%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-35.74%	—
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	-43.75%	-11.68%	-32.07%
Average Drawdown Average peak-to-trough decline	-27.03%	-40.93%	+13.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.69%	—

Volatility

Volatility by Period

	VAVX	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	17.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	31.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	64.93%	36.79%	+28.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.93%	36.19%	+28.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.93%	33.14%	+31.79%

VAVX vs. SMH - Expense Ratio Comparison

VAVX has a 0.20% expense ratio, which is lower than SMH's 0.35% expense ratio.

Dividends

VAVX vs. SMH - Dividend Comparison

VAVX's dividend yield for the trailing twelve months is around 1.22%, more than SMH's 0.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMH VanEck Semiconductor ETF	0.19%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%
VAVX VanEck Avalanche ETF	1.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VAVX and SMH in my portfolio?

VAVX and SMH have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VAVX or SMH?

On fees, VAVX is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VAVX or SMH?

VAVX is cheaper with a 0.20% expense ratio, compared with 0.35% for SMH.

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

VAVX has the higher dividend yield at 1.22%, compared with 0.19% for SMH.

What is the main difference between VAVX and SMH?

VAVX is categorized as Cryptocurrency, while SMH is Semiconductors. VAVX tracks MarketVector Avalanche Benchmark Rate, while SMH tracks MVIS US Listed Semiconductor 25 Index. Their fees differ too: 0.20% for VAVX and 0.35% for SMH.