VERS vs. SMH

Last updated Jun 3, 2026

VERS (ProShares Metaverse ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - VERS is a Technology Equities fund tracking the Solactive Metaverse Theme Index - Benchmark TR Net, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 3 years, VERS returned 32.33%/yr vs 64.17%/yr for SMH. A 0.80 correlation means they provide meaningful diversification when combined. VERS charges 0.58%/yr vs 0.35%/yr for SMH.

Performance

VERS vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Metaverse ETF (VERS) 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, VERS achieves a 37.91% return, which is significantly lower than SMH's 77.13% return.

VERS

• 1D: 2.18%
• 1M: 23.96%
• YTD: 37.91%
• 6M: 39.20%
• 1Y: 72.21%
• 3Y*: 32.33%
• 5Y*: —
• 10Y*: —

SMH

• 1D: 0.90%
• 1M: 25.87%
• YTD: 77.13%
• 6M: 75.61%
• 1Y: 157.20%
• 3Y*: 64.17%
• 5Y*: 39.21%
• 10Y*: 37.68%

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

VERS vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VERS ProShares Metaverse ETF	37.91%	26.16%	16.92%	51.13%	-34.52%
SMH VanEck Semiconductor ETF	77.13%	49.17%	39.10%	73.38%	-22.11%

Correlation

The correlation between VERS and SMH is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.80

The correlation between VERS and SMH has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

VERS vs. SMH - Sectors Allocation Comparison

Sectors	VERS	SMH
Technology	73.2%	100.0%
Communication Services	18.4%	-
Consumer Cyclical	6.6%	-
Real Estate	1.8%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Utilities	-	-

Return for Risk

VERS vs. SMH — Risk / Return Rank

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

VERS

VERS Risk / Return Rank: 68
VERS Sharpe Ratio Rank: 82
VERS Sortino Ratio Rank: 74
VERS Omega Ratio Rank: 69
VERS Calmar Ratio Rank: 62
VERS Martin Ratio Rank: 53

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 98
SMH Sortino Ratio Rank: 95
SMH Omega Ratio Rank: 95
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 96

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.

VERS vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Metaverse ETF (VERS) 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.

	VERS	SMH	Difference
Sharpe ratio Return per unit of total volatility	2.74	5.19	-2.45
Sortino ratio Return per unit of downside risk	3.41	5.22	-1.81
Omega ratio Gain probability vs. loss probability	1.43	1.72	-0.30
Calmar ratio Return relative to maximum drawdown	3.15	10.59	-7.45
Martin ratio Return relative to average drawdown	9.14	40.63	-31.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VERS vs. SMH - Sharpe Ratio Comparison

The current VERS Sharpe Ratio is 2.74, which is lower than the SMH Sharpe Ratio of 5.19. The chart below compares the historical Sharpe Ratios of VERS 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.

Sharpe Ratios by Period

	VERS	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	5.19	-2.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.34	+0.24

Drawdowns

VERS vs. SMH - Drawdown Comparison

The maximum VERS drawdown since its inception was -42.13%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for VERS and SMH.

Drawdown Indicators

	VERS	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-42.13%	-84.96%	+42.83%
Max Drawdown (1Y) Largest decline over 1 year	-23.02%	-14.93%	-8.09%
Max Drawdown (3Y) Largest decline over 3 years	-29.34%	-35.74%	+6.40%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-15.07%	-41.09%	+26.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.92%	3.89%	+4.03%

Volatility

VERS vs. SMH - Volatility Comparison

The current volatility for ProShares Metaverse ETF (VERS) is 9.65%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.47%. This indicates that VERS 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.

Volatility by Period

	VERS	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.65%	11.47%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	20.41%	24.29%	-3.88%
Volatility (1Y) Calculated over the trailing 1-year period	26.51%	30.56%	-4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.27%	35.01%	-3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.27%	32.57%	-1.30%

VERS vs. SMH - Expense Ratio Comparison

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

Dividends

VERS vs. SMH - Dividend Comparison

VERS's dividend yield for the trailing twelve months is around 0.24%, more than SMH's 0.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMH VanEck Semiconductor ETF	0.17%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%
VERS ProShares Metaverse ETF	0.24%	0.52%	0.58%	0.63%	0.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VERS and SMH in my portfolio?

VERS and SMH have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VERS or SMH?

SMH has higher volatility (11.47%) compared to VERS (9.65%). In terms of maximum drawdown, VERS dropped -42.13% vs SMH's -84.96%.

Which ETF is better, VERS or SMH?

On 3-year performance, SMH leads with 64.17% vs 32.33% for VERS. On fees, SMH is cheaper at 0.35% per year. On volatility, VERS has been the lower-risk option at 9.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VERS or SMH?

Over the 3-year period, SMH has performed better with a 64.17% return vs 32.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VERS or SMH?

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

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

VERS has the higher dividend yield at 0.24%, compared with 0.17% for SMH.

What is the main difference between VERS and SMH?

VERS is categorized as Technology Equities, while SMH is Semiconductors. VERS tracks Solactive Metaverse Theme Index - Benchmark TR Net, 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 VERS and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (5.19 vs 2.74), 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.