VanEck Fabless Semiconductor ETF (SMHX) Performance
SMHX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +37.1% since Dec 31, 2025
- 1 year
- +32.3% total return
- Since first price
- +109.9% since 2024
SMHX trailing returns vs SPY, QQQ, AGG
| Period | SMHX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −13.6% | −13.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −10.0% | −10.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.0% | +6.0% | +7.8% | +8.4% | −1.5% |
| YTD | +37.1% | +37.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +32.3% | +32.3% | +14.4% | +15.9% | −1.1% |
| Since inceptionAug 28, 2024 | +109.9% | +109.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SMHX vs SPY
From Aug 28, 2024: SMHX grew to $20,993, SPY to $13,969.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SMHX returns by calendar year
1 of 1 full years positive. Best 2025 (+30.0%), worst 2025 (+30.0%). 2026 is year to date.
SMHX annual returns table
| Year | SMHX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +37.1% | −24.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +30.0% | −38.5% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SMHX largest drawdowns
Now 23.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 22, 2025 | −38.5% | Apr 8, 2025 | Jul 10, 2025 | 2 months | 6 months |
| Jun 3, 2026 | −24.9% | Jul 29, 2026 | not yet | 56 days | 5 months so far |
| Oct 29, 2025 | −17.1% | Mar 30, 2026 | Apr 13, 2026 | 5 months | 5 months |
| Aug 30, 2024 | −12.2% | Sep 6, 2024 | Sep 19, 2024 | 7 days | 20 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SMHX risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +52.3% |
| Volatility (annualized) | 37.3% |
| Sharpe ratio | 1.21 |
| Sortino ratio | 2.87 |
| Best month | +36.8% |
| Worst month | −14.2% |
| Best 12 months | +129.6% |
| Worst 12 months | +30.0% |
| Positive months | 68% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SMHX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 15 | +26.2% | +58.3% | +129.6% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
SMHX performance overview
VanEck Fabless Semiconductor ETF (SMHX) returned +32.3% over the past year, with distributions reinvested. Since its first recorded price on Aug 28, 2024 it has returned +109.9%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −38.5%, from Jan 22, 2025 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 37.3% a year.
Related: SMHX chart, SMHX holdings, SMHX dividends, SMHX valuation. See the SMHX overview for the latest quote and fund facts.
SMHX performance FAQ
What is the SMHX return over the past year?
SMHX returned +32.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 32.3%.
How much would $10,000 invested in SMHX be worth?
$10,000 invested in SMHX at its first recorded close on August 28, 2024 would be worth about $20,993 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of SMHX?
The largest peak-to-trough decline was −38.5% between January 22, 2025 and April 8, 2025. It recovered to the old high on July 10, 2025, 3 months after the bottom.
How volatile is SMHX?
Over the past history SMHX had an annualized volatility of 37.3% and a Sharpe ratio of 1.21 (excess return over 1–3 month T-bills per unit of risk).