SMH vs IAU
Comparison between VANECK SEMICONDUCTOR ETF (SMH, ETF) and iShares Gold Trust (IAU, ETF).
5-Year PerformanceSMH has outperformed IAU, delivering a return of +35.1% compared to +20.7%
SMH vs IAU - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
SMH
$68B
IAU
$60B
Expense Ratio
SMH
0.35%
Winner
IAU
0.25%
Max Drawdown
SMH
85.92%
Winner
IAU
45.14%
Sharpe Ratio
Winner
SMH
1.81
IAU
1.13
5Y Beta
SMH
1.89
Winner
IAU
0.23
P/E Ratio
SMH
47.92
IAU
N/A
Forward P/E
SMH
24.12
IAU
N/A
PEG Ratio
SMH
0.30
IAU
N/A
5Y Dividends CAGR
SMH
3.73%
IAU
N/A
5Y EPS CAGR
SMH
43.97%
IAU
N/A
P/S Ratio
SMH
3.93
IAU
N/A
P/B Ratio
SMH
11.90
IAU
N/A
SMH vs IAU - Historical Returns
Returns include dividend reinvestment.
1M
SMH
-4.05%
Winner
IAU
+12.98%
3M
SMH
-1.31%
Winner
IAU
+1.59%
6M
Winner
SMH
+35.03%
IAU
-9.55%
1Y
Winner
SMH
+95.55%
IAU
+37.98%
5Y(CAGR)
Winner
SMH
+35.11%
IAU
+20.66%
10Y(CAGR)
Winner
SMH
+34.04%
IAU
+12.89%
Max(CAGR)
SMH
+11.12%
Winner
IAU
+11.36%
SMH vs IAU - Annual Returns (2000 - 2026)
Returns include dividend reinvestment.
| Year | SMH | IAU |
|---|---|---|
| 2026 | +50.13% | +6.41% |
| 2025 | +47.57% | +61.73% |
| 2024 | +43.94% | +27.14% |
| 2023 | +74.72% | +11.90% |
| 2022 | -34.96% | +0.96% |
| 2021 | +41.85% | -6.17% |
| 2020 | +52.02% | +24.09% |
| 2019 | +63.24% | +17.89% |
| 2018 | -11.36% | -3.00% |
| 2017 | +38.21% | +12.10% |
| 2016 | +36.97% | +6.74% |
| 2015 | -0.14% | -11.04% |
| 2014 | +31.56% | -3.70% |
| 2013 | +28.23% | -28.76% |
| 2012 | +7.08% | +4.09% |
| 2011 | -0.15% | +10.20% |
| 2010 | +16.23% | +26.49% |
| 2009 | +54.76% | +24.34% |
| 2008 | -43.01% | +2.09% |
| 2007 | +1.38% | +32.34% |
| 2006 | -10.68% | +18.87% |
| 2005 | +12.01% | +21.17% |
| 2004 | -19.40% | N/A |
| 2003 | +74.92% | N/A |
| 2002 | -49.20% | N/A |
| 2001 | -13.35% | N/A |
| 2000 | -50.35% | N/A |
SMH vs IAU Drawdown Comparison
The maximum drawdown for SMH was -84.96%, occurring on Nov 20, 2008. Recovery took 4247 trading sessions.
The maximum drawdown for IAU was -45.14%, occurring on Dec 2, 2015. Recovery took 2246 trading sessions.
The current SMH drawdown is -16.22%. The current IAU drawdown is -14.55%.
| Rank | SMH | IAU |
|---|---|---|
| #1 | -84.96% Jun 21, 2000 - May 10, 2017 | -45.14% Aug 22, 2011 - Jul 27, 2020 |
| #2 | -45.30% Dec 27, 2021 - Jul 13, 2023 | -29.23% Mar 17, 2008 - Sep 16, 2009 |
| #3 | -35.75% Jul 10, 2024 - Jul 2, 2025 | -26.36% Jan 29, 2026 - Jul 16, 2026 |
| #4 | -33.62% Feb 19, 2020 - Jun 5, 2020 | -21.99% May 11, 2006 - Sep 18, 2007 |
| #5 | -27.01% Mar 12, 2018 - Apr 3, 2019 | -21.82% Aug 6, 2020 - Mar 4, 2024 |
| #6 | -24.62% Jun 22, 2026 - Jul 29, 2026 | -12.71% Dec 2, 2009 - May 11, 2010 |
| #7 | -17.96% Apr 24, 2019 - Jul 23, 2019 | -10.05% Oct 20, 2025 - Dec 22, 2025 |
| #8 | -15.58% Feb 16, 2021 - Apr 5, 2021 | -8.13% Oct 30, 2024 - Jan 30, 2025 |
| #9 | -14.93% Feb 25, 2026 - Apr 9, 2026 | -8.03% Dec 6, 2010 - Mar 1, 2011 |
| #10 | -14.93% Mar 7, 2024 - May 20, 2024 | -7.50% Jun 18, 2010 - Sep 14, 2010 |
| #11 | -14.42% Jul 31, 2023 - Nov 14, 2023 | -7.15% Apr 21, 2025 - Jun 13, 2025 |
| #12 | -13.04% Apr 5, 2021 - Jun 28, 2021 | -6.76% Dec 12, 2005 - Jan 3, 2006 |
| #13 | -12.23% Jan 23, 2018 - Mar 6, 2018 | -6.61% Mar 11, 2005 - Aug 12, 2005 |
| #14 | -12.18% Jul 24, 2019 - Oct 15, 2019 | -6.13% Nov 7, 2007 - Dec 28, 2007 |
| #15 | -11.80% Oct 29, 2025 - Dec 9, 2025 | -5.90% Feb 2, 2006 - Mar 29, 2006 |
Correlation
Correlation between SMH and IAU is 0.90 which considered as a very strong positive correlation - the stocks move almost identically together.
0.90
-101
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