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

XSMH.TO vs. SMH

Last updated Apr 1, 2026

Compare and contrast key facts about iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged) (XSMH.TO) and VanEck Semiconductor ETF (SMH).

XSMH.TO and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSMH.TO is a passively managed fund by iShares that tracks the performance of the S&P SmallCap 600 Index (CAD Hedged). It was launched on Sep 4, 2019. 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 XSMH.TO 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

XSMH.TO vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged) (XSMH.TO) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

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XSMH.TO vs. SMH - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XSMH.TO
iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged)		2.89%3.85%6.79%14.36%-17.98%26.43%7.18%5.17%
SMH
VanEck Semiconductor ETF		7.90%42.33%51.05%69.56%-28.80%40.85%52.91%15.59%
Different Trading Currencies

XSMH.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, XSMH.TO achieves a 2.89% return, which is significantly lower than SMH's 7.90% return.

XSMH.TO

1D
1.22%
1M
-4.28%
YTD
2.89%
6M
3.99%
1Y
17.81%
3Y*
8.36%
5Y*
2.40%
10Y*
—

SMH

1D
5.64%
1M
-3.79%
YTD
7.90%
6M
17.74%
1Y
75.81%
3Y*
44.84%
5Y*
28.21%
10Y*
32.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged)

VanEck Semiconductor ETF

Often compared with XSMH.TO:
XSMH.TO vs. XSU.TOXSMH.TO vs. XSMC.TOXSMH.TO vs. VFV.TOXSMH.TO vs. XUS.TOXSMH.TO vs. XMH.TOXSMH.TO vs. ZSML.TOXSMH.TO vs. XEI.TO
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK

XSMH.TO vs. SMH - Expense Ratio Comparison

XSMH.TO has a 0.22% expense ratio, which is lower than SMH's 0.35% expense ratio.

SMH
VanEck Semiconductor ETF
XSMH.TO
iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged)

Return for Risk

XSMH.TO vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSMH.TO
XSMH.TO Risk / Return Rank: 4747
Overall Rank
XSMH.TO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
XSMH.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
XSMH.TO Omega Ratio Rank: 4242
Omega Ratio Rank
XSMH.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
XSMH.TO Martin Ratio Rank: 5151
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 9595
Overall Rank
SMH Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9494
Sortino Ratio Rank
SMH Omega Ratio Rank: 9393
Omega Ratio Rank
SMH Calmar Ratio Rank: 9797
Calmar Ratio Rank
SMH Martin Ratio Rank: 9797
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged) (XSMH.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.

XSMH.TOSMHDifference

Sharpe ratio

Return per unit of total volatility

0.79

2.08

-1.29

Sortino ratio

Return per unit of downside risk

1.28

2.65

-1.37

Omega ratio

Gain probability vs. loss probability

1.17

1.38

-0.21

Calmar ratio

Return relative to maximum drawdown

1.24

4.83

-3.60

Martin ratio

Return relative to average drawdown

4.93

16.64

-11.71

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSMH.TO vs. SMH - Sharpe Ratio Comparison

The current XSMH.TO Sharpe Ratio is 0.79, which is lower than the SMH Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of XSMH.TO and SMH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XSMH.TOSMHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.79

2.08

-1.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.11

0.86

-0.75

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.05

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

1.00

-0.73

Correlation

The correlation between XSMH.TO and SMH is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

XSMH.TO vs. SMH - Dividend Comparison

XSMH.TO's dividend yield for the trailing twelve months is around 1.11%, more than SMH's 0.29% yield.

TTM20252024202320222021202020192018201720162015
XSMH.TO
iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged)		1.11%1.14%1.72%0.81%0.93%1.07%0.43%1.59%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

XSMH.TO vs. SMH - Drawdown Comparison

The maximum XSMH.TO drawdown since its inception was -45.43%, which is greater than SMH's maximum drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for XSMH.TO and SMH.

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Drawdown Indicators

XSMH.TOSMHDifference

Max Drawdown

Largest peak-to-trough decline

-45.43%

-84.96%

+39.53%

Max Drawdown (1Y)

Largest decline over 1 year

-14.83%

-15.95%

+1.12%

Max Drawdown (5Y)

Largest decline over 5 years

-28.90%

-45.30%

+16.40%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.30%

—

Current Drawdown

Current decline from peak

-6.23%

-10.03%

+3.80%

Average Drawdown

Average peak-to-trough decline

-11.68%

-41.36%

+29.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.72%

4.44%

-0.72%

Volatility

XSMH.TO vs. SMH - Volatility Comparison

The current volatility for iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged) (XSMH.TO) is 5.85%, while VanEck Semiconductor ETF (SMH) has a volatility of 12.13%. This indicates that XSMH.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

XSMH.TOSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.85%

12.13%

-6.28%

Volatility (6M)

Calculated over the trailing 6-month period

13.25%

23.85%

-10.60%

Volatility (1Y)

Calculated over the trailing 1-year period

22.60%

36.59%

-13.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.41%

33.11%

-11.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.28%

30.79%

-5.51%