WISE vs. SMH
Compare and contrast key facts about Themes Generative Artificial Intelligence ETF (WISE) and VanEck Semiconductor ETF (SMH).
WISE and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WISE is a passively managed fund by Themes that tracks the performance of the Solactive Generative Artificial Intelligence Index - Benchmark TR Gross. It was launched on Dec 7, 2023. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. Both WISE and SMH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
WISE vs. SMH - Performance Comparison
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WISE vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
WISE Themes Generative Artificial Intelligence ETF | -17.46% | 5.88% | 40.45% | 7.55% |
SMH VanEck Semiconductor ETF | 6.46% | 49.17% | 39.10% | 8.27% |
Returns By Period
In the year-to-date period, WISE achieves a -17.46% return, which is significantly lower than SMH's 6.46% return.
WISE
- 1D
- 6.58%
- 1M
- -5.41%
- YTD
- -17.46%
- 6M
- -23.35%
- 1Y
- 9.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH
- 1D
- 5.76%
- 1M
- -5.65%
- YTD
- 6.46%
- 6M
- 17.84%
- 1Y
- 81.87%
- 3Y*
- 43.47%
- 5Y*
- 25.59%
- 10Y*
- 31.28%
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WISE vs. SMH - Expense Ratio Comparison
Both WISE and SMH have an expense ratio of 0.35%.
Return for Risk
WISE vs. SMH — Risk / Return Rank
WISE
SMH
WISE vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Generative Artificial Intelligence ETF (WISE) 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.
| WISE | SMH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.26 | 2.23 | -1.98 |
Sortino ratioReturn per unit of downside risk | 0.63 | 2.85 | -2.22 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.40 | -0.33 |
Calmar ratioReturn relative to maximum drawdown | 0.26 | 5.10 | -4.84 |
Martin ratioReturn relative to average drawdown | 0.71 | 18.29 | -17.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WISE | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 2.23 | -1.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.74 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.97 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.28 | +0.11 |
Correlation
The correlation between WISE and SMH is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
WISE vs. SMH - Dividend Comparison
WISE's dividend yield for the trailing twelve months is around 5.00%, more than SMH's 0.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WISE Themes Generative Artificial Intelligence ETF | 5.00% | 4.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMH VanEck Semiconductor ETF | 0.29% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Drawdowns
WISE vs. SMH - Drawdown Comparison
The maximum WISE drawdown since its inception was -39.15%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for WISE and SMH.
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Drawdown Indicators
| WISE | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.15% | -84.96% | +45.81% |
Max Drawdown (1Y)Largest decline over 1 year | -34.08% | -15.95% | -18.13% |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.30% | — |
Current DrawdownCurrent decline from peak | -29.74% | -10.03% | -19.71% |
Average DrawdownAverage peak-to-trough decline | -11.56% | -41.36% | +29.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.31% | 4.44% | +7.87% |
Volatility
WISE vs. SMH - Volatility Comparison
Themes Generative Artificial Intelligence ETF (WISE) and VanEck Semiconductor ETF (SMH) have volatilities of 11.63% and 12.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WISE | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.63% | 12.11% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 25.30% | 23.95% | +1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.72% | 36.84% | -1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.41% | 34.71% | -1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.41% | 32.28% | +1.13% |