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SMHX vs SPY

Comparison between VANECK FABLESS SEMICONDUCTOR ETF (SMHX, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

SMHX vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
SMHX
$297M
Winner
SPY
$781B
Expense Ratio
SMHX
0.35%
Winner
SPY
0.09%
Max Drawdown
Winner
SMHX
38.53%
SPY
56.47%
Sharpe Ratio
Winner
SMHX
1.57
SPY
1.25
5Y Beta
SMHX
2.04
Winner
SPY
1.00
P/E Ratio
SMHX
65.97
Winner
SPY
28.78
Forward P/E
SMHX
29.45
Winner
SPY
21.23
PEG Ratio
SMHX
0.65
SPY
N/A
5Y Dividends CAGR
SMHX
N/A
SPY
6.00%
5Y EPS CAGR
Winner
SMHX
43.70%
SPY
25.62%
Debt to Equity
Winner
SMHX
22.13%
SPY
31.92%
P/S Ratio
SMHX
14.60
Winner
SPY
3.76
P/B Ratio
SMHX
12.05
Winner
SPY
5.64

SMHX vs SPY - Holdings Comparison

SMHX and SPY have 8 common holdings. Overlap is 13.02%

SMHX's top 25 holdings weight is 97.97%. SPY's top 25 holdings weight is 51.74%.

RankSMHXSPY
#1
NVIDIA CORP (NVDA) - 21.24%
NVIDIA CORP (NVDA) - 7.89%
#2
BROADCOM INC (AVGO) - 15.89%
APPLE INC (AAPL) - 7.37%
#3
ADVANCED MICRO DEVICES INC (AMD) - 5.89%
MICROSOFT CORP (MSFT) - 4.50%
#4
ASTERA LABS INC (ALAB) - 4.80%
AMAZON.COM INC (AMZN) - 3.82%
#5
QUALCOMM INC (QCOM) - 4.69%
ALPHABET INC CLASS A (GOOGL) - 3.33%
#6
CADENCE DESIGN SYSTEMS INC (CDNS) - 4.37%
BROADCOM INC (AVGO) - 2.86%
#7
SYNOPSYS INC (SNPS) - 4.19%
ALPHABET INC CLASS C (GOOG) - 2.68%
#8
MONOLITHIC POWER SYSTEMS INC (MPWR) - 4.16%
META PLATFORMS INC CLASS A (META) - 2.29%
#9
MARVELL TECHNOLOGY INC (MRVL) - 4.11%
TESLA INC (TSLA) - 1.70%
#10
ARM HOLDINGS PLC ADR (ARM) - 4.08%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
LATTICE SEMICONDUCTOR CORP (LSCC) - 3.83%
JPMORGAN CHASE & CO (JPM) - 1.42%
#12
SILICON MOTION TECHNOLOGY CORP ADR (SIMO) - 3.64%
ELI LILLY AND CO (LLY) - 1.40%
#13
SITIME CORP ORDINARY SHARES (SITM) - 3.35%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#14
RAMBUS INC (RMBS) - 3.12%
ADVANCED MICRO DEVICES INC (AMD) - 1.32%
#15
SEMTECH CORP (SMTC) - 3.02%
EXXONMOBIL HOLDINGS CORP (XOM) - 0.92%
#16
CIRRUS LOGIC INC (CRUS) - 2.23%
JOHNSON & JOHNSON (JNJ) - 0.91%
#17
SILICON LABORATORIES INC (SLAB) - 2.13%
VISA INC CLASS A (V) - 0.90%
#18
ALLEGRO MICROSYSTEMS INC ORDINARY SHARES (ALGM) - 1.29%
WALMART INC (WMT) - 0.76%
#19
AMBARELLA INC (AMBA) - 0.97%
INTEL CORP (INTC) - 0.75%
#20
SYNAPTICS INC (SYNA) - 0.97%
APPLIED MATERIALS INC (AMAT) - 0.70%
#21N/A
CISCO SYSTEMS INC (CSCO) - 0.68%
#22N/A
MASTERCARD INC CLASS A (MA) - 0.66%
#23N/A
ABBVIE INC (ABBV) - 0.66%
#24N/A
CATERPILLAR INC (CAT) - 0.65%
#25N/A
LAM RESEARCH CORP (LRCX) - 0.64%
Total Holdings20505

SMHX vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
SMHX
-12.42%
Winner
SPY
+0.52%
3M
Winner
SMHX
+21.88%
SPY
+6.55%
6M
Winner
SMHX
+44.48%
SPY
+9.76%
1Y
Winner
SMHX
+74.47%
SPY
+20.32%
5Y(CAGR)
SMHX
N/A
SPY
+13.01%
10Y(CAGR)
SMHX
N/A
SPY
+15.06%
Max(CAGR)
Winner
SMHX
+56.42%
SPY
+8.50%

SMHX vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearSMHXSPY
2026+48.36%+10.11%
2025+28.55%+18.00%
2024+17.76%+25.59%
2023N/A+26.72%
2022N/A-18.64%
2021N/A+30.52%
2020N/A+17.28%
2019N/A+31.09%
2018N/A-5.24%
2017N/A+20.78%
2016N/A+13.59%
2015N/A+1.31%
2014N/A+14.56%
2013N/A+29.00%
2012N/A+14.17%
2011N/A+0.85%
2010N/A+13.14%
2009N/A+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

SMHX vs SPY Drawdown Comparison

The maximum drawdown for SMHX was -38.53%, occurring on Apr 8, 2025. Recovery took 116 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current SMHX drawdown is -14.56%. The current SPY drawdown is -1.24%.

RankSMHXSPY
#1-38.53%
Jan 22, 2025 - Jul 10, 2025		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-18.29%
Jun 3, 2026 - Jul 17, 2026		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-17.06%
Oct 29, 2025 - Apr 13, 2026		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-12.25%
Aug 30, 2024 - Sep 19, 2024		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-8.61%
Nov 7, 2024 - Dec 4, 2024		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-7.31%
Oct 8, 2025 - Oct 27, 2025		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-7.04%
Oct 29, 2024 - Nov 6, 2024		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-6.96%
Dec 16, 2024 - Jan 6, 2025		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-6.87%
Apr 24, 2026 - May 5, 2026		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-6.22%
Jan 6, 2025 - Jan 22, 2025		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-5.41%
Aug 13, 2025 - Aug 28, 2025		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-5.25%
May 14, 2026 - May 20, 2026		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-5.17%
Sep 26, 2024 - Oct 8, 2024		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-4.91%
Aug 28, 2025 - Sep 8, 2025		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-3.80%
Jul 30, 2025 - Aug 8, 2025		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between SMHX and SPY is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.

0.95
-101

Dividend Comparison (1999 - 2026)

SMHX vs SPY dividend yield comparison.

YearSMHXSPY
20260.00%0.49%
20250.02%1.07%
20240.04%1.21%
20230.00%1.40%
20220.00%1.65%
20210.00%1.20%
20200.00%1.52%
20190.00%1.75%
20180.00%2.04%
20170.00%1.80%
20160.00%2.03%
20150.00%2.06%
20140.00%1.87%
20130.00%1.81%
20120.00%2.18%
20110.00%2.05%
20100.00%1.80%
20090.00%1.95%
20080.00%3.02%
20070.00%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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