WCLD vs. SMH

Last updated Jun 3, 2026

WCLD (WisdomTree Cloud Computing Fund) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - WCLD is a Technology Equities fund tracking the BVP Nasdaq Emerging Cloud Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 5 years, WCLD returned -6.46%/yr vs 39.58%/yr for SMH. A 0.58 correlation means they provide meaningful diversification when combined. WCLD charges 0.45%/yr vs 0.35%/yr for SMH.

Performance

WCLD vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Cloud Computing Fund (WCLD) 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, WCLD achieves a -0.69% return, which is significantly lower than SMH's 75.55% return.

WCLD

• 1D: -3.28%
• 1M: 20.60%
• YTD: -0.69%
• 6M: 1.46%
• 1Y: -3.15%
• 3Y*: 4.16%
• 5Y*: -6.46%
• 10Y*: —

SMH

• 1D: 4.01%
• 1M: 24.01%
• YTD: 75.55%
• 6M: 76.44%
• 1Y: 160.66%
• 3Y*: 63.68%
• 5Y*: 39.58%
• 10Y*: 37.55%

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

WCLD vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
WCLD WisdomTree Cloud Computing Fund	-0.69%	-6.69%	7.35%	39.35%	-51.64%	-3.21%	109.71%	0.91%
SMH VanEck Semiconductor ETF	75.55%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	20.06%

Correlation

The correlation between WCLD and SMH is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Sep 9, 2019	0.58

Over the past year, the correlation between WCLD and SMH has dropped to 0.19 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

WCLD vs. SMH - Sectors Allocation Comparison

Sectors	WCLD	SMH
Technology	97.2%	100.0%
Healthcare	2.8%	-
Communication Services	2.5%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

WCLD vs. SMH — Risk / Return Rank

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

WCLD

WCLD Risk / Return Rank: 8
WCLD Sharpe Ratio Rank: 8
WCLD Sortino Ratio Rank: 8
WCLD Omega Ratio Rank: 8
WCLD Calmar Ratio Rank: 8
WCLD Martin Ratio Rank: 8

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: 97

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.

WCLD vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Cloud Computing Fund (WCLD) 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.

	WCLD	SMH	Difference
Sharpe ratio Return per unit of total volatility	-0.09	5.29	-5.38
Sortino ratio Return per unit of downside risk	0.11	5.29	-5.17
Omega ratio Gain probability vs. loss probability	1.01	1.73	-0.72
Calmar ratio Return relative to maximum drawdown	-0.09	11.02	-11.10
Martin ratio Return relative to average drawdown	-0.20	42.34	-42.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WCLD vs. SMH - Sharpe Ratio Comparison

The current WCLD Sharpe Ratio is -0.09, which is lower than the SMH Sharpe Ratio of 5.29. The chart below compares the historical Sharpe Ratios of WCLD 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

	WCLD	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.09	5.29	-5.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	1.14	-1.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.34	-0.21

Drawdowns

WCLD vs. SMH - Drawdown Comparison

The maximum WCLD drawdown since its inception was -64.90%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for WCLD and SMH.

Drawdown Indicators

	WCLD	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-64.90%	-84.96%	+20.06%
Max Drawdown (1Y) Largest decline over 1 year	-34.68%	-14.93%	-19.75%
Max Drawdown (3Y) Largest decline over 3 years	-42.06%	-35.74%	-6.32%
Max Drawdown (5Y) Largest decline over 5 years	-64.90%	-45.30%	-19.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.30%	—
Current Drawdown Current decline from peak	-46.78%	0.00%	-46.78%
Average Drawdown Average peak-to-trough decline	-35.54%	-41.09%	+5.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.71%	3.89%	+10.82%

Volatility

WCLD vs. SMH - Volatility Comparison

WisdomTree Cloud Computing Fund (WCLD) has a higher volatility of 15.21% compared to VanEck Semiconductor ETF (SMH) at 11.59%. This indicates that WCLD's price experiences larger fluctuations and is considered to be riskier than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCLD	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.21%	11.59%	+3.62%
Volatility (6M) Calculated over the trailing 6-month period	29.91%	24.29%	+5.62%
Volatility (1Y) Calculated over the trailing 1-year period	34.67%	30.57%	+4.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.41%	35.02%	+2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.46%	32.58%	+4.88%

WCLD vs. SMH - Expense Ratio Comparison

WCLD has a 0.45% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

WCLD vs. SMH - Dividend Comparison

WCLD has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.17%.

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%
WCLD WisdomTree Cloud Computing Fund	0.00%	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 WCLD and SMH in my portfolio?

WCLD and SMH have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WCLD or SMH?

WCLD has higher volatility (15.21%) compared to SMH (11.59%). In terms of maximum drawdown, WCLD dropped -64.90% vs SMH's -84.96%.

Which ETF is better, WCLD or SMH?

On 5-year performance, SMH leads with 39.58% vs -6.46% for WCLD. On fees, SMH is cheaper at 0.35% per year. On volatility, SMH has been the lower-risk option at 11.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WCLD or SMH?

Over the 5-year period, SMH has performed better with a 39.58% return vs -6.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WCLD or SMH?

SMH is cheaper with a 0.35% expense ratio, compared with 0.45% for WCLD.

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

SMH has the higher dividend yield at 0.17%, compared with 0.00% for WCLD.

What is the main difference between WCLD and SMH?

WCLD is categorized as Technology Equities, while SMH is Semiconductors. WCLD tracks BVP Nasdaq Emerging Cloud Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: WisdomTree and VanEck. Their fees differ too: 0.45% for WCLD and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (5.29 vs -0.09), 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.