VITSX vs. SMH

Last updated Jun 14, 2026

VITSX (Vanguard Total Stock Market Index Fund Institutional Shares) and SMH (VanEck Semiconductor ETF) are both funds - VITSX is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 10 years, VITSX returned 14.94%/yr vs 37.49%/yr for SMH. A 0.75 correlation means they provide meaningful diversification when combined. VITSX charges 0.03%/yr vs 0.35%/yr for SMH.

Performance

VITSX vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Stock Market Index Fund Institutional Shares (VITSX) 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, VITSX achieves a 9.11% return, which is significantly lower than SMH's 72.15% return. Over the past 10 years, VITSX has underperformed SMH with an annualized return of 14.94%, while SMH has yielded a comparatively higher 37.49% annualized return.

VITSX

• 1D: 1.88%
• 1M: -0.74%
• YTD: 9.11%
• 6M: 9.18%
• 1Y: 25.69%
• 3Y*: 20.73%
• 5Y*: 12.10%
• 10Y*: 14.94%

SMH

• 1D: 1.72%
• 1M: 7.20%
• YTD: 72.15%
• 6M: 75.62%
• 1Y: 141.99%
• 3Y*: 60.05%
• 5Y*: 38.42%
• 10Y*: 37.49%

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

VITSX vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VITSX Vanguard Total Stock Market Index Fund Institutional Shares	9.11%	17.14%	23.25%	26.51%	-19.51%	25.74%	20.99%	30.80%	-5.18%	21.16%
SMH VanEck Semiconductor ETF	72.15%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between VITSX 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	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000	0.75

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

VITSX vs. SMH - Sectors Allocation Comparison

Sectors	VITSX	SMH
Technology	33.3%	100.0%
Financial Services	11.9%	-
Communication Services	10.1%	-
Consumer Cyclical	9.8%	-
Industrials	9.5%	-
Healthcare	9.1%	-
Consumer Defensive	4.7%	-
Energy	3.8%	-
Utilities	2.7%	-
Real Estate	2.4%	-
Basic Materials	2.0%	-

Return for Risk

VITSX vs. SMH — Risk / Return Rank

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

VITSX

VITSX Risk / Return Rank: 72
VITSX Sharpe Ratio Rank: 70
VITSX Sortino Ratio Rank: 66
VITSX Omega Ratio Rank: 66
VITSX Calmar Ratio Rank: 74
VITSX Martin Ratio Rank: 83

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 97
SMH Sortino Ratio Rank: 94
SMH Omega Ratio Rank: 94
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.

VITSX vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Stock Market Index Fund Institutional Shares (VITSX) 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.

	VITSX	SMH	Difference
Sharpe ratio: Return per unit of total volatility	1.94	4.13	-2.19
Sortino ratio: Return per unit of downside risk	2.65	4.26	-1.62
Omega ratio: Gain probability vs. loss probability	1.35	1.60	-0.25
Calmar ratio: Return relative to maximum drawdown	2.77	9.18	-6.41
Martin ratio: Return relative to average drawdown	12.46	33.74	-21.27

VITSX vs. SMH - Sharpe Ratio Comparison

The current VITSX Sharpe Ratio is 1.94, which is lower than the SMH Sharpe Ratio of 4.13. The chart below compares the historical Sharpe Ratios of VITSX 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

VITSX vs. SMH - Drawdown Comparison

The maximum VITSX drawdown since its inception was -55.30%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for VITSX and SMH.

Drawdown Indicators

	VITSX	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-55.30%	-84.96%	+29.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-14.93%	+6.01%
Max Drawdown (3Y) Largest decline over 3 years	-19.36%	-35.74%	+16.38%
Max Drawdown (5Y) Largest decline over 5 years	-25.36%	-45.30%	+19.94%
Max Drawdown (10Y) Largest decline over 10 years	-34.97%	-45.30%	+10.33%
Current Drawdown Current decline from peak	-2.56%	-2.81%	+0.25%
Average Drawdown Average peak-to-trough decline	-10.06%	-41.04%	+30.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	4.06%	-2.08%

Volatility

VITSX vs. SMH - Volatility Comparison

The current volatility for Vanguard Total Stock Market Index Fund Institutional Shares (VITSX) is 4.60%, while VanEck Semiconductor ETF (SMH) has a volatility of 16.25%. This indicates that VITSX 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

	VITSX	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	16.25%	-11.65%
Volatility (6M) Calculated over the trailing 6-month period	9.93%	27.73%	-17.80%
Volatility (1Y) Calculated over the trailing 1-year period	12.72%	33.20%	-20.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.44%	35.47%	-18.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.44%	32.82%	-14.38%

VITSX vs. SMH - Expense Ratio Comparison

VITSX has a 0.03% expense ratio, which is lower than SMH's 0.35% expense ratio.

Dividends

VITSX vs. SMH - Dividend Comparison

VITSX's dividend yield for the trailing twelve months is around 1.03%, more than SMH's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMH VanEck Semiconductor ETF	0.18%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%
VITSX Vanguard Total Stock Market Index Fund Institutional Shares	1.03%	1.12%	1.27%	1.43%	1.66%	1.21%	1.42%	1.77%	2.04%	1.71%	1.93%	1.99%

Frequently Asked Questions

Can I hold both VITSX and SMH in my portfolio?

VITSX 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, VITSX or SMH?

SMH has higher volatility (16.25%) compared to VITSX (4.60%). In terms of maximum drawdown, VITSX dropped -55.30% vs SMH's -84.96%.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (4.13 vs 1.94), 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.