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VIU.TO vs. SMH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VIU.TO vs. SMH

Last updated Jun 13, 2026

VIU.TO (Vanguard FTSE Developed All Cap ex North America Index ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - VIU.TO is a International Equity fund tracking the FTSE Developed All Cap ex North America Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 10 years, VIU.TO returned 11.21%/yr vs 38.68%/yr for SMH. A 0.56 correlation means they provide meaningful diversification when combined. VIU.TO charges 0.23%/yr vs 0.35%/yr for SMH.

Performance

VIU.TO vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VIU.TO is traded in CAD, while SMH is traded in USD. To make them comparable, the SMH values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VIU.TO achieves a 17.39% return, which is significantly lower than SMH's 75.82% return. Over the past 10 years, VIU.TO has underperformed SMH with an annualized return of 11.21%, while SMH has yielded a comparatively higher 38.68% annualized return.

VIU.TO

1D
0.58%
1M
3.39%
YTD
17.39%
6M
19.18%
1Y
32.93%
3Y*
20.42%
5Y*
12.03%
10Y*
11.21%

SMH

1D
2.02%
1M
10.59%
YTD
75.82%
6M
78.31%
1Y
141.88%
3Y*
62.51%
5Y*
42.51%
10Y*
38.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VIU.TO vs. SMH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VIU.TO
Vanguard FTSE Developed All Cap ex North America Index ETF		17.39%28.36%10.73%15.67%-10.63%9.76%7.57%15.31%-7.37%19.23%
SMH
VanEck Semiconductor ETF		75.82%42.36%50.88%69.25%-29.32%42.06%51.84%57.67%-1.41%29.10%

Correlation

The correlation between VIU.TO and SMH is 0.61, 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

0.61

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (10Y)
Calculated over the trailing 10-year period

0.56

Correlation (All Time)
Calculated using the full available price history since Dec 8, 2015

0.56

The correlation between VIU.TO and SMH has been stable across timeframes, ranging from 0.54 to 0.61 - a consistent structural relationship.

VIU.TO vs. SMH - Sectors Allocation Comparison

Sectors
VIU.TO
SMH

Financial Services

22.7%

-

Industrials

19.0%

-

Technology

15.0%
100.0%

Healthcare

9.2%

-

Consumer Cyclical

7.6%

-

Consumer Defensive

6.3%

-

Basic Materials

6.2%

-

Energy

3.8%

-

Communication Services

3.5%

-

Utilities

3.5%

-

Real Estate

2.4%

-

Financial Services

VIU.TO
22.7%
SMH

-

Industrials

VIU.TO
19.0%
SMH

-

Technology

VIU.TO
15.0%
SMH
100.0%

Healthcare

VIU.TO
9.2%
SMH

-

Consumer Cyclical

VIU.TO
7.6%
SMH

-

Consumer Defensive

VIU.TO
6.3%
SMH

-

Basic Materials

VIU.TO
6.2%
SMH

-

Energy

VIU.TO
3.8%
SMH

-

Communication Services

VIU.TO
3.5%
SMH

-

Utilities

VIU.TO
3.5%
SMH

-

Real Estate

VIU.TO
2.4%
SMH

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Developed All Cap ex North America Index ETF

VanEck Semiconductor ETF

Often compared with VIU.TO:
VIU.TO vs. XEF.TOVIU.TO vs. VIDY.TOVIU.TO vs. VCN.TOVIU.TO vs. VFV.TOVIU.TO vs. VDU.TOVIU.TO vs. XEQT.TOVIU.TO vs. VEQT.TO
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK

Return for Risk

VIU.TO vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VIU.TO
VIU.TO Risk / Return Rank: 7171
Overall Rank
VIU.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
VIU.TO Sortino Ratio Rank: 7373
Sortino Ratio Rank
VIU.TO Omega Ratio Rank: 7575
Omega Ratio Rank
VIU.TO Calmar Ratio Rank: 6464
Calmar Ratio Rank
VIU.TO Martin Ratio Rank: 7070
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 9696
Overall Rank
SMH Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9494
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.

VIU.TO vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) 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.

VIU.TOSMHDifference
Sharpe ratioReturn per unit of total volatility
2.03
4.29

-2.26

Sortino ratioReturn per unit of downside risk
2.81
4.42

-1.61

Omega ratioGain probability vs. loss probability

1.38

1.62

-0.23

Calmar ratioReturn relative to maximum drawdown

2.82

10.42

-7.61

Martin ratioReturn relative to average drawdown

11.26

36.73

-25.47

VIU.TO vs. SMH - Sharpe Ratio Comparison

The current VIU.TO Sharpe Ratio is 2.03, which is lower than the SMH Sharpe Ratio of 4.29. The chart below compares the historical Sharpe Ratios of VIU.TO 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.

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Drawdowns

VIU.TO vs. SMH - Drawdown Comparison

The maximum VIU.TO drawdown since its inception was -29.15%, smaller than the maximum SMH drawdown of -65.72%. Use the drawdown chart below to compare losses from any high point for VIU.TO and SMH.

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Drawdown Indicators

VIU.TOSMHDifference

Max Drawdown

Largest peak-to-trough decline

-29.15%

-65.72%

+36.57%

Max Drawdown (1Y)

Largest decline over 1 year

-11.74%

-13.69%

+1.95%

Max Drawdown (3Y)

Largest decline over 3 years

-14.26%

-33.72%

+19.46%

Max Drawdown (5Y)

Largest decline over 5 years

-25.34%

-41.26%

+15.92%

Max Drawdown (10Y)

Largest decline over 10 years

-29.15%

-41.26%

+12.11%

Current Drawdown

Current decline from peak

0.00%

-1.81%

+1.81%

Average Drawdown

Average peak-to-trough decline

-5.32%

-19.94%

+14.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.94%

3.88%

-0.94%

Volatility

VIU.TO vs. SMH - Volatility Comparison

The current volatility for Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) is 6.89%, while VanEck Semiconductor ETF (SMH) has a volatility of 16.36%. This indicates that VIU.TO 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

VIU.TOSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.89%

16.36%

-9.47%

Volatility (6M)

Calculated over the trailing 6-month period

14.19%

27.95%

-13.76%

Volatility (1Y)

Calculated over the trailing 1-year period

16.29%

33.30%

-17.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.11%

36.05%

-21.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.19%

33.59%

-18.40%

VIU.TO vs. SMH - Expense Ratio Comparison

VIU.TO has a 0.23% expense ratio, which is lower than SMH's 0.35% expense ratio.

Dividends

VIU.TO vs. SMH - Dividend Comparison

VIU.TO's dividend yield for the trailing twelve months is around 2.15%, more than SMH's 0.18% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VIU.TO
Vanguard FTSE Developed All Cap ex North America Index ETF		2.15%2.48%2.56%2.66%2.76%2.38%1.98%2.68%2.76%2.13%1.72%0.28%

Frequently Asked Questions

VIU.TO and SMH have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VIU.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VIU.TO is cheaper with a 0.23% expense ratio, compared with 0.35% for SMH.

VIU.TO is categorized as International Equity, while SMH is Semiconductors. VIU.TO tracks FTSE Developed All Cap ex North America Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.23% for VIU.TO and 0.35% for SMH.

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