Data as of Oct 28, 2026.
CHPY vs SMH: Differences, Returns & Fees
Over the year to Oct 28, 2026, CHPY returned +58.6% to SMH's +56.8%, and SMH charges 0.35% to CHPY's 1.03%.
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Net assets on Oct 27, 2026: $1.3bn for YieldMax Semiconductor Portfolio Option Income ETF and $71.1bn for VanEck Semiconductor ETF.
Pair scorecard
SMH costs 0.68 points a year less; their one-year returns differ by 1.8 points; SMH is far larger, $71.1bn against $1.3bn.
| Measure | CHPY | SMH |
|---|---|---|
| Return | ||
| Total return, 1 year | +58.6% | +56.8% |
| Price change, 1 year | rose 3.4% | rose 56.3% |
| Latest payout, annualized | 38.8% | |
| Return of capital, issuer estimate | 1% of the Oct 29, 2026 payment | |
| Drawdown | ||
| Below its all-time high | 15.1%, high on Jun 22, 2026 | |
| Against its benchmark | ||
| What it tracks | Benchmark: S&P 500, measured through SPY | Semiconductors |
| Against its benchmark, 1 year | ahead by 43.4 pts | |
| Against its benchmark, same days | ahead by 45.0 pts | |
| Cost and size | ||
| Expense ratio | 1.03% | 0.35% |
| Net assets, as of Oct 27, 2026 | $1.3bn | $71.1bn |
| Active share vs the S&P 500 | 81% | |
| Holdings | ||
| Holdings in common | 70% | |
| In the S&P 500, by weight | 79% | |
| Top ten holdings, share of the fund | 69% | |
Holdings in common uses holdings dated Oct 27, 2026 and Oct 28, 2026. Method
Risk and return
Apr 11, 2025 to Oct 23, 2026 · 80 weekly returnsEach against its own benchmark: CHPY against SPY, Apr 11, 2025 to Oct 23, 2026; SMH against ACWI, Dec 30, 2011 to Oct 23, 2026.
SMH returned more: +162.7% to +135.5%. CHPY swung slightly less: 29.7% to 32.3%. SMH fell less at its worst: −20.1% to −23.5%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | CHPY | SMH | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +135.5% | +162.7% | SMH | Price change plus distributions, reinvested. |
| Annualized | +74.5% | +87.3% | SMH | Total return as a yearly rate. |
| Price return | +24.9% | +161.9% | SMH | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 29.7% | 32.3% | CHPY (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 17.9% | 18.3% | Tie | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −23.5% | −20.1% | SMH | Deepest fall from a high to the low after it. |
| Upside capture | 283.2% | 197.3% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 126.3% | 117.1% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.57 | 1.40 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.46 | 0.63 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 1.90 | 1.99 | SMH (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 3.15 | 3.52 | SMH | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.358 | 0.192 | Return above Treasury bills per unit of beta. | |
| Calmar | 3.17 | 4.34 | SMH | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPY | ACWI | The ETF each fund is measured against. | |
| Alpha | +23.4% a year | +12.6% a year | CHPY not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 1.29 | 2.95 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −12.7% to +59.6% | +4.2% to +20.9% | CHPY includes zero | The 95% range for the yearly alpha. |
| Information ratio | 1.54 | 0.96 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 23.0% | 17.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 80 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, CHPY and SMH hold 70% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026 and Oct 28, 2026.
half
70% in common
Only in one fund ↓
Side by side
CHPY and SMH on the fields both publish, as of Oct 28, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price.
CHPY and SMH do different jobs. What does each one do in a portfolio?
- What each follows. CHPY is measured against S&P 500 through SPY and SMH follows Semiconductors.
- Cost. CHPY charges 1.03% of assets a year and SMH 0.35%, a gap of 0.68 points.
- Size. CHPY has $1.3bn in net assets and SMH $71.1bn (net assets, as of Oct 27, 2026); SMH is 54.7 times larger.
Data as of Oct 28, 2026.
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CHPY
Over the year to Oct 28, 2026, CHPY paid 47.1% of its starting value in cash distributions while its price rose 3.4%. With every distribution reinvested, the fund returned +58.6%. S&P 500 (SPY) returned +13.6% over the same days, so a holder was ahead by 45.0 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 38.8%, paid weekly. YieldMax estimates that 1% of the distribution paid Oct 29, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
SMH
By weight, 79% of SMH's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 81%. The top ten holdings are 69% of the fund across 25 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +56.8% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 43.4 pts. It sits 15.1% below its all-time high of Jun 22, 2026.
Questions people ask
- Are CHPY and SMH in the same category?
- CHPY is an option-income ETF and SMH is a thematic ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, CHPY or SMH?
- In the year to Oct 28, 2026, with distributions reinvested, CHPY returned +58.6% and SMH +56.8%.
- Which is cheaper, CHPY or SMH?
- SMH is cheaper, by 0.68 percentage points a year. That is about $68 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, CHPY against SMH, data as of Oct 28, 2026. https://etfiq.com/compare/any/chpy-vs-smh
ETFIQ. (Oct 28, 2026). CHPY against SMH. Retrieved from https://etfiq.com/compare/any/chpy-vs-smh
[CHPY against SMH (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/chpy-vs-smh)
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