Data as of Oct 28, 2026.
SMH vs VUG: Differences, Returns & Fees
Over the year to Oct 28, 2026, SMH returned +56.8% to VUG's +6.6%, and VUG charges 0.03% to SMH's 0.35%.
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Net assets: $71.1bn on Oct 27, 2026 for VanEck Semiconductor ETF, and $232.9bn on Sep 30, 2026 for Vanguard Morningstar Growth ETF.
Pair scorecard
VUG costs 0.32 points a year less; their one-year returns differ by 50.2 points.
| Measure | SMH | VUG |
|---|---|---|
| Return | ||
| Total return, 1 year | +56.8% | +6.6% |
| Drawdown | ||
| Below its all-time high | 15.1%, high on Jun 22, 2026 | |
| Below its high | 4.1%, high on Oct 6, 2026 | |
| Against its benchmark | ||
| What it tracks | Semiconductors | Morningstar US Large Cap Growth Index |
| Against its benchmark, 1 year | ahead by 43.4 pts | |
| Cost and size | ||
| Expense ratio | 0.35% | 0.03% |
| Net assets, SMH as of Oct 27, 2026 and VUG as of Sep 30, 2026 | $71.1bn | $232.9bn |
| Active share vs the S&P 500 | 81% | |
| Holdings | ||
| Holdings in common | 27% | |
| Top ten holdings, share of the fund | 69% | 63.1% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Dec 30, 2011 to Oct 23, 2026 · 773 weekly returnsSMH returned more: +3,977.0% to +872.2%. VUG swung less: 18.1% to 26.9%. VUG fell less at its worst: −35.6% to −44.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SMH | VUG | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +3,977.0% | +872.2% | SMH | Price change plus distributions, reinvested. |
| Annualized | +28.3% | +16.5% | SMH | Total return as a yearly rate. |
| Price return | +3,365.0% | +742.9% | SMH | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 26.9% | 18.1% | VUG | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 17.5% | 12.2% | VUG | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −44.2% | −35.6% | VUG | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.00 | 0.84 | SMH | Return above Treasury bills per unit of volatility. |
| Sortino | 1.53 | 1.25 | SMH | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.64 | 0.46 | SMH | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 773 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SMH and VUG hold 27% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
27% in common
Only in one fund ↓
Side by side
SMH and VUG on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SMH and VUG do different jobs. What does each one do in a portfolio?
- What each follows. SMH follows Semiconductors and VUG follows Morningstar US Large Cap Growth Index.
- Holdings in common. 27% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 SMH returned +56.8% and VUG +6.6% with distributions reinvested, a gap of 50.2 points.
Data as of Oct 28, 2026.
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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.
VUG
VUG tracks an index of US growth. Over the year to Oct 28, 2026 it returned +6.6% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 137 positions, with the top ten at 63.1%. It sat 4.1% below its high of Oct 6, 2026 on Oct 28, 2026.
Questions people ask
- Are SMH and VUG in the same category?
- SMH is a thematic ETF and VUG is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, SMH or VUG?
- In the year to Oct 28, 2026, with distributions reinvested, SMH returned +56.8% and VUG +6.6%.
- Which is cheaper, SMH or VUG?
- VUG is cheaper, by 0.32 percentage points a year. That is about $32 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, SMH against VUG, data as of Oct 28, 2026. https://etfiq.com/compare/any/smh-vs-vug
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