PSI vs SMH Stock Comparison: AI Score, Valuation, Performance and Upside
PSI and SMH both target semiconductor industry exposure but take different paths to get there — PSI via the Dynamic Semiconductor Intellidex Index, and SMH via the MVIS US Listed Semiconductor 25 Index. The practical differences come down to issuer, cost structure, and the specific index rules each fund follows, since both are pursuing a similar investment outcome.
PSI vs SMH is largely a question of which issuer and index methodology you trust more for semiconductor industry exposure — the underlying investment case is similar, so cost, liquidity, and tracking precision tend to be the deciding factors.
SMH holds the edge across 4 of 5 key metrics in this comparison. PSI has delivered stronger 1-year price return (+46.14% vs +40.46% for SMH).
- want factor-driven, rules-based exposure to the semiconductor industry
- prefer Invesco's approach and fund lineup
- value factor-driven methodology aims to improve on simple cap-weighting
- are comfortable with smaller asset base and liquidity than SOXX or SMH
- want concentrated, top-heavy exposure to the largest semiconductor leaders
- prefer VanEck's approach and fund lineup
- value extremely deep liquidity and a very active options market
- are comfortable with more concentrated in top holdings than the broader-based SOXX
| Metric | PSI | SMH |
|---|---|---|
| ETF scorei | 30.5 | 32.6 |
| Latest closei | $113.88 | $508.31 |
| 1M returni | -29.24% | -19.39% |
| 3M returni | -18.12% | -6.81% |
| 6M returni | -15.74% | +0.30% |
| 1Y returni | +46.14% | +40.46% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | PSI | SMH |
|---|---|---|
| 1Y ago | $14.47K (+44.7%) started 2025-11-03 | $13.97K (+39.7%) started 2025-11-03 |
| 5Y ago | $24.65K (+146.5%) started 2021-11-03 | $38.23K (+282.3%) started 2021-11-03 |
| 10Y ago | $115.61K (+1056.1%) started 2016-11-03 | $183.66K (+1736.6%) started 2016-11-03 |
Hypothetical — past performance does not guarantee future results.
| Metric | PSI | SMH |
|---|---|---|
| Expense ratioi | 0.55% | 0.35% |
| Total assets (AUM)i | $2.89B | $74.88B |
| Dividend yieldi | 0.02% | 0.18% |
| Trailing P/Ei | 32.67 | 27.16 |
| Betai | 1.89 | 1.82 |
| 52-week change | 46.14% | 40.46% |
| Metric | PSI | SMH |
|---|---|---|
| 1Y returni | +46.14% | +40.46% |
| 6M returni | -15.74% | +0.30% |
| 3M returni | -18.12% | -6.81% |
| 1M returni | -29.24% | -19.39% |
| 1Y Sharpe ratio | 0.87 | 0.91 |
| Betai | 1.89 | 1.82 |
| Dividend yieldi | 0.02% | 0.18% |
| 5Y CAGR | +19.47% | +29.99% |
Over the past year, PSI and SMH have moved strongly in the same direction (correlation of 0.95), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | PSI | SMH |
|---|---|---|---|
| 1Y | Growthi | +44.65% | +39.28% |
| CAGRi | +44.84% | +39.44% | |
| Volatilityi | 54.66% | 40.86% | |
| Sharpe ratioi | 0.87 | 0.91 | |
| Sortino ratioi | 1.22 | 1.28 | |
| Max drawdowni | 39.37% | 24.62% | |
| Current drawdowni | 39.37% | 24.01% | |
| Avg drawdowni | 10.98% | 7.25% | |
| Ulcer Indexi | 15.56% | 9.67% | |
| Max daily dropi | 10.20% | 9.22% | |
| Max wkly dropi | 21.35% | 14.09% | |
| 5Y | Growthi | +143.22% | +270.76% |
| CAGRi | +19.47% | +29.99% | |
| Volatilityi | 42.06% | 37.20% | |
| Sharpe ratioi | 0.53 | 0.77 | |
| Sortino ratioi | 0.75 | 1.12 | |
| Max drawdowni | 44.85% | 45.30% | |
| Current drawdowni | 39.37% | 24.01% | |
| Avg drawdowni | 15.76% | 12.47% | |
| Ulcer Indexi | 19.53% | 16.66% | |
| Max daily dropi | 12.05% | 9.83% | |
| Max wkly dropi | 21.35% | 15.31% | |
| 10Y | Growthi | +1012.14% | +1567.11% |
| CAGRi | +27.25% | +32.51% | |
| Volatilityi | 37.46% | 33.76% | |
| Sharpe ratioi | 0.71 | 0.87 | |
| Sortino ratioi | 1.01 | 1.25 | |
| Max drawdowni | 44.85% | 45.30% | |
| Current drawdowni | 39.37% | 24.01% | |
| Avg drawdowni | 10.83% | 8.82% | |
| Ulcer Indexi | 15.07% | 13.01% | |
| Max daily dropi | 13.82% | 14.41% | |
| Max wkly dropi | 21.35% | 19.23% |
| Category | PSI | SMH |
|---|---|---|
| Fund name | Invesco Semiconductors ETF | VanEck Semiconductor ETF |
| Type | ETF | ETF |
| Expense ratioi | 0.55% | 0.35% |
| Total assets (AUM)i | $2.89B | $74.88B |
| Dividend yieldi | 0.02% | 0.18% |
- Factor-driven methodology aims to improve on simple cap-weighting
- Direct exposure to the AI-driven semiconductor capex boom
- Diversified across chip designers, equipment makers, and foundries
- Extremely deep liquidity and a very active options market
- Heaviest weighting toward the largest AI-chip and equipment leaders
- Direct exposure to the AI-driven semiconductor capex supercycle
- Smaller asset base and liquidity than SOXX or SMH
- Semiconductor cycle is notoriously boom-and-bust
- Factor methodology adds complexity versus simple index funds
- More concentrated in top holdings than the broader-based SOXX
- Semiconductor industry is highly cyclical and boom-and-bust
- Extremely sensitive to AI-spending sentiment shifts
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