VXUS vs. SMH

Last updated Jun 13, 2026

VXUS (Vanguard Total International Stock ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - VXUS is a Global Equities fund tracking the FTSE Global All Cap ex US Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 10 years, VXUS returned 10.22%/yr vs 37.49%/yr for SMH. A 0.67 correlation means they provide meaningful diversification when combined. VXUS charges 0.05%/yr vs 0.35%/yr for SMH.

Performance

VXUS vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total International Stock ETF (VXUS) 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, VXUS achieves a 13.69% return, which is significantly lower than SMH's 72.15% return. Over the past 10 years, VXUS has underperformed SMH with an annualized return of 10.22%, while SMH has yielded a comparatively higher 37.49% annualized return.

VXUS

• 1D: 0.40%
• 1M: 0.71%
• YTD: 13.69%
• 6M: 15.52%
• 1Y: 28.39%
• 3Y*: 18.37%
• 5Y*: 8.32%
• 10Y*: 10.22%

SMH

• 1D: 1.72%
• 1M: 8.30%
• YTD: 72.15%
• 6M: 75.62%
• 1Y: 136.32%
• 3Y*: 60.05%
• 5Y*: 38.42%
• 10Y*: 37.49%

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

VXUS vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VXUS Vanguard Total International Stock ETF	13.69%	32.35%	5.08%	15.86%	-16.08%	8.98%	10.66%	21.75%	-14.43%	27.46%
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 VXUS and SMH is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jan 28, 2011	0.67

The correlation between VXUS and SMH has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.

VXUS vs. SMH - Sectors Allocation Comparison

Sectors	VXUS	SMH
Financial Services	22.3%	-
Technology	18.1%	100.0%
Industrials	16.1%	-
Consumer Cyclical	8.4%	-
Basic Materials	7.6%	-
Healthcare	7.1%	-
Energy	5.2%	-
Consumer Defensive	5.0%	-
Communication Services	4.4%	-
Utilities	3.2%	-
Real Estate	2.6%	-

Return for Risk

VXUS vs. SMH — Risk / Return Rank

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

VXUS

VXUS Risk / Return Rank: 61
VXUS Sharpe Ratio Rank: 61
VXUS Sortino Ratio Rank: 60
VXUS Omega Ratio Rank: 63
VXUS Calmar Ratio Rank: 58
VXUS Martin Ratio Rank: 62

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.

VXUS vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Stock ETF (VXUS) 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.

	VXUS	SMH	Difference
Sharpe ratio: Return per unit of total volatility	1.77	4.13	-2.36
Sortino ratio: Return per unit of downside risk	2.44	4.26	-1.82
Omega ratio: Gain probability vs. loss probability	1.33	1.60	-0.27
Calmar ratio: Return relative to maximum drawdown	2.53	9.18	-6.66
Martin ratio: Return relative to average drawdown	9.72	33.74	-24.01

VXUS vs. SMH - Sharpe Ratio Comparison

The current VXUS Sharpe Ratio is 1.77, which is lower than the SMH Sharpe Ratio of 4.13. The chart below compares the historical Sharpe Ratios of VXUS 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

VXUS vs. SMH - Drawdown Comparison

The maximum VXUS drawdown since its inception was -35.97%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for VXUS and SMH.

Drawdown Indicators

	VXUS	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-35.97%	-84.96%	+48.99%
Max Drawdown (1Y) Largest decline over 1 year	-11.27%	-14.93%	+3.66%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-35.74%	+22.16%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-45.30%	+15.86%
Max Drawdown (10Y) Largest decline over 10 years	-35.97%	-45.30%	+9.33%
Current Drawdown Current decline from peak	-1.47%	-2.81%	+1.34%
Average Drawdown Average peak-to-trough decline	-8.21%	-41.04%	+32.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	4.06%	-1.13%

Volatility

VXUS vs. SMH - Volatility Comparison

The current volatility for Vanguard Total International Stock ETF (VXUS) is 6.71%, while VanEck Semiconductor ETF (SMH) has a volatility of 16.25%. This indicates that VXUS 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

	VXUS	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.71%	16.25%	-9.54%
Volatility (6M) Calculated over the trailing 6-month period	14.02%	27.73%	-13.71%
Volatility (1Y) Calculated over the trailing 1-year period	16.09%	33.20%	-17.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.21%	35.47%	-19.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.20%	32.82%	-15.62%

VXUS vs. SMH - Expense Ratio Comparison

VXUS has a 0.05% expense ratio, which is lower than SMH's 0.35% expense ratio.

Dividends

VXUS vs. SMH - Dividend Comparison

VXUS's dividend yield for the trailing twelve months is around 2.67%, 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%
VXUS Vanguard Total International Stock ETF	2.67%	3.18%	3.37%	3.24%	3.09%	3.10%	2.14%	3.06%	3.18%	2.73%	2.93%	2.83%

Frequently Asked Questions

Can I hold both VXUS and SMH in my portfolio?

VXUS and SMH have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VXUS or SMH?

SMH has higher volatility (16.25%) compared to VXUS (6.71%). In terms of maximum drawdown, VXUS dropped -35.97% vs SMH's -84.96%.

Which ETF is better, VXUS or SMH?

On 10-year performance, SMH leads with 37.49% vs 10.22% for VXUS. On fees, VXUS is cheaper at 0.05% per year. On volatility, VXUS has been the lower-risk option at 6.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VXUS or SMH?

Over the 10-year period, SMH has performed better with a 37.49% return vs 10.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VXUS or SMH?

VXUS is cheaper with a 0.05% expense ratio, compared with 0.35% for SMH.

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

VXUS has the higher dividend yield at 2.67%, compared with 0.18% for SMH.

What is the main difference between VXUS and SMH?

VXUS is categorized as Global Equities, while SMH is Semiconductors. VXUS tracks FTSE Global All Cap ex US Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.05% for VXUS and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (4.13 vs 1.77), 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.