Data as of Oct 28, 2026.
GRID vs SMH: Holdings Overlap & Returns
Over the year to Oct 28, 2026, GRID returned +7.9% to SMH's +56.8%; 5% of their weight is in the same names.
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Net assets on Oct 27, 2026: $11.4bn for First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund and $71.1bn for VanEck Semiconductor ETF.
41% of GRID's weight is in S&P 500 companies and 59% is outside the index. Holdings as of Oct 27, 2026.
79% of SMH's weight is in S&P 500 companies and 21% is outside the index. Holdings as of Oct 22, 2026.
Pair scorecard
SMH costs 0.21 points a year less; their one-year returns differ by 48.9 points; SMH is 6.2 times larger.
Points (pts) are percentage points.
| Measure | GRID | SMH |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.9% | +56.8% |
| Drawdown | ||
| Below its all-time high | 14.7%, high on May 11, 2026 | 15.1%, high on Jun 22, 2026 |
| Against its benchmark | ||
| What it tracks | Electrification and the grid | Semiconductors |
| Its benchmark, total return, 1 year | +13.3% | +13.4% |
| Against its benchmark, 1 year | behind by 5.4 pts | ahead by 43.4 pts |
| Cost and size | ||
| Expense ratio | 0.56% | 0.35% |
| Net assets, as of Oct 27, 2026 | $11.4bn | $71.1bn |
| Holdings | ||
| Holdings in common | 5% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Dec 30, 2011 to Oct 23, 2026 · 773 weekly returnsEach against its own benchmark: GRID against IWV, Nov 27, 2009 to Oct 23, 2026; SMH against ACWI, Dec 30, 2011 to Oct 23, 2026.
SMH returned more: +3,977.0% to +672.0%. GRID swung less: 21.3% to 26.9%. GRID fell less at its worst: −39.0% to −44.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GRID | SMH | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +672.0% | +3,977.0% | SMH | Price change plus distributions, reinvested. |
| Annualized | +14.7% | +28.3% | SMH | Total return as a yearly rate. |
| Price return | +552.5% | +3,365.0% | SMH | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 21.3% | 26.9% | GRID | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.4% | 17.5% | GRID | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −39.0% | −44.2% | GRID | Deepest fall from a high to the low after it. |
| Upside capture | 115.2% | 197.3% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 110.3% | 117.1% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.15 | 1.40 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.74 | 0.63 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.67 | 1.00 | SMH | Return above Treasury bills per unit of volatility. |
| Sortino | 1.00 | 1.53 | SMH | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.104 | 0.192 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.38 | 0.64 | SMH | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IWV | ACWI | The ETF each fund is measured against. | |
| Alpha | −2.7% a year | +12.6% a year | GRID not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.97 | 2.95 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −8.1% to +2.8% | +4.2% to +20.9% | GRID includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.06 | 0.96 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 11.6% | 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, 773 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GRID and SMH hold 5% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
5% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | GRID | SMH | GRID | SMH |
| 3 months | +1.3% | +12.6% | −4.2 pts vs IWV | +8.2 pts vs ACWI |
| 6 months | −7.5% | +13.6% | −16.3 pts vs IWV | +6.2 pts vs ACWI |
| 1 year | +7.9% | +56.8% | −5.4 pts vs IWV | +43.4 pts vs ACWI |
| 3 years | +104.9% | +316.0% | +12.1 pts vs IWV | +227.1 pts vs ACWI |
| Since launchNot the same days: GRID Nov 2009 · SMH Dec 2011 | +576.0% | +4,348.4% | not measured | +3,938.6 pts vs ACWI |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
5% of the two portfolios are the same securities at the same weight.
GRID and SMH are built for the same job. How do they differ in cost, holdings and results?
- Theme. GRID covers Electrification and the grid and SMH covers Semiconductors.
- Concentration. The top ten holdings are 57.0% of GRID and 69.0% of SMH, a gap of 12.0 points.
- What each follows. GRID follows Electrification and the grid and SMH follows Semiconductors.
Data as of Oct 28, 2026.
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Over the year to Oct 28, 2026 the fund returned +7.9% with distributions reinvested against +13.3% for its benchmark, the Russell 3000 Index, so a holder was behind by 5.4 pts.
By weight, 41% of GRID's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 57% of the fund across 122 positions, as published by its issuer for Oct 27, 2026. It sits 14.7% below its all-time high of May 11, 2026.
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
- Do GRID and SMH hold the same stocks?
- By their latest filings, 5% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
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.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, GRID against SMH, data as of Oct 28, 2026. https://etfiq.com/compare/themes/grid-vs-smh
ETFIQ. (Oct 28, 2026). GRID against SMH. Retrieved from https://etfiq.com/compare/themes/grid-vs-smh
[GRID against SMH (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/grid-vs-smh)
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