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SMH+VOO
Performance
Return for Risk
Dividends
Drawdowns
Volatility
Diversification

SMH+VOO

Currency in USD · Last updated Jun 23, 2026

Asset Allocation

SMH 65.00%VOO 35.00%EquityEquity
PositionCategory/SectorTarget Weight
SMH
VanEck Semiconductor ETF		Semiconductors, Technology Equities
65%
VOO
Vanguard S&P 500 ETF		S&P 500
35%

S&P 500 Index

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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in SMH+VOO, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.

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Returns By Period

As of Jun 23, 2026, the SMH+VOO returned 57.97% Year-To-Date and 30.95% of annualized return in the last 10 years.

Position1D1MYTD6M1Y3Y*5Y*10Y*
Benchmark
S&P 500 Index
-0.37%-0.01%9.16%8.15%24.03%19.78%11.99%13.88%
Portfolio
SMH+VOO
0.94%11.50%57.97%56.63%104.55%50.58%31.60%30.95%
Portfolio components:
SMH
VanEck Semiconductor ETF		1.37%16.07%85.74%85.96%157.81%66.26%40.65%38.85%
VOO
Vanguard S&P 500 ETF		-0.29%0.08%9.75%9.30%26.77%21.36%13.58%15.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Sep 9, 2010, SMH+VOO's average daily return is +0.10%, while the average monthly return is +2.06%. At this rate, an investment would double in approximately 2.8 years.

Historically, 64% of months were positive and 36% were negative. The best month was Apr 2026 with a return of +24.7%, while the worst month was Jun 2022 at -13.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.

On a daily basis, SMH+VOO closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +14.3%, while the worst single day was Mar 16, 2020 at -13.5%.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20268.32%0.22%-5.49%24.73%14.26%8.03%57.97%
20251.34%-3.32%-7.88%-0.34%10.95%12.59%3.11%1.06%9.29%8.15%-1.91%1.72%38.09%
20244.65%11.03%5.22%-4.55%9.76%6.75%-3.03%-0.04%1.29%-1.33%2.21%-0.57%34.61%
202313.14%-0.17%7.97%-3.37%10.74%5.83%4.73%-2.36%-6.34%-3.47%13.26%7.91%56.04%
2022-8.86%-2.76%1.76%-12.69%4.15%-13.73%13.88%-7.71%-12.14%4.28%14.97%-8.49%-28.34%
20212.08%5.12%2.23%1.67%1.88%4.19%1.08%2.93%-5.11%6.87%7.19%2.70%37.50%

Benchmark Metrics

SMH+VOO has an annualized alpha of 8.94%, beta of 1.24, and R2 of 0.78 versus S&P 500 Index. Calculated based on daily prices since September 09, 2010.

  • This portfolio captured 154.13% of S&P 500 Index gains and 101.80% of its losses - amplifying both gains and losses, but participating more in upside than downside.
  • This portfolio generated an annualized alpha of 8.94% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
Alpha
8.94%
Beta
1.24
R²
0.78
Upside Capture
154.13%
Downside Capture
101.80%
See how alpha, beta & R² have trended over time →

Expense Ratio

SMH+VOO has an expense ratio of 0.24%, which is considered low. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

SMH
VanEck Semiconductor ETF
VOO
Vanguard S&P 500 ETF

Return for Risk

Risk / Return Rank

SMH+VOO ranks 96 for risk / return — in the top 96% of Portfolios on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

SMH+VOO Risk / Return Rank: 9696
Overall Rank
SMH+VOO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
SMH+VOO Sortino Ratio Rank: 9494
Sortino Ratio Rank
SMH+VOO Omega Ratio Rank: 9595
Omega Ratio Rank
SMH+VOO Calmar Ratio Rank: 9696
Calmar Ratio Rank
SMH+VOO Martin Ratio Rank: 9797
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below presents risk-adjusted performance metrics for SMH+VOO and compares them with S&P 500 Index.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

PortfolioBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

4.02

2.03

+1.99

Sortino ratioReturn per unit of downside risk

4.41

2.75

+1.66

Omega ratioGain probability vs. loss probability

1.63

1.37

+0.26

Calmar ratioReturn relative to maximum drawdown

8.26

2.78

+5.47

Martin ratioReturn relative to average drawdown

32.22

12.44

+19.78

How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.

PositionRisk / Return RankSharpe ratioSortino ratioOmega ratioCalmar ratioMartin ratio
SMH
VanEck Semiconductor ETF
96
4.664.601.6610.6338.91
VOO
Vanguard S&P 500 ETF
68
2.172.931.393.0213.58

Sharpe Ratio

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk. Learn how to interpret the Sharpe ratio.

The current SMH+VOO Sharpe ratio is 4.02 as of Jun 23, 2026 (the value is recalculated daily), calculated over the past 12 months.

Compared to the broad market, where average Sharpe ratios range from 1.66 to 2.60, this portfolio's current Sharpe ratio is in the top 25%. This signifies superior risk-adjusted performance, meaning the portfolio is delivering strong returns for the level of risk taken compared to most others.

The chart below shows the rolling Sharpe ratio of SMH+VOO compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Dividends

Dividend yield

SMH+VOO provided a 0.47% dividend yield over the last twelve months.

PositionTTM20252024202320222021202020192018201720162015
Portfolio0.47%0.59%0.72%0.90%1.36%0.77%0.99%1.63%1.94%1.55%1.23%2.13%
Portfolio components:
SMH
VanEck Semiconductor ETF		0.17%0.31%0.44%0.60%1.18%0.51%0.69%1.50%1.88%1.43%0.80%2.14%
VOO
Vanguard S&P 500 ETF		1.04%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the SMH+VOO. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the SMH+VOO was 38.54%, occurring on Oct 14, 2022. Recovery took 185 trading sessions.

Related event

Drawdown

Fall

Recovery

Underwater

Bear market2022
-38.54%Oct 2022
9mo 20d9mo 2d
1y 6moDec 2021 - Jul 2023
COVID crash2020
-33.03%Mar 2020
29d3mo 18d
4mo 17dFeb 2020 - Jul 2020
2025 selloff2025
-27.80%Apr 2025
2mo 14d2mo 17d
5mo 1dJan 2025 - Jun 2025
Rate-hike selloffLate 2018
-22.82%Dec 2018
9mo 16d2mo 27d
1y 8dMar 2018 - Mar 2019
2011 bear market2011
-22.34%Aug 2011
3mo 19d5mo 18d
9mo 7dMay 2011 - Feb 2012

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 2 assets, with an effective number of assets of 1.83, reflecting the diversification based on asset allocation. Your capital is spread almost evenly across your holdings, indicating a well-balanced allocation. Note that true diversification also depends on the correlations between assets — check the diversification ratio below.

Diversification Ratio
1Y
3Y
5Y
10Y
All Time
Diversification Ratio

1.03

1.03

1.03

1.03

1.04

The portfolio has a diversification ratio of 1.04, placing it in the bottom quartile across portfolios — positions are highly correlated. Consider adding assets from different classes or sectors to reduce risk.

SMH+VOO correlation to the S&P 500 Index

SMH+VOO has a 0.82 correlation to S&P 500 Index over the trailing 12 months. This section compares each holding's correlation to the benchmark and to the portfolio.
Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.82

Correlation (3Y)
Calculated over the trailing 3-year period

0.84

Correlation (5Y)
Calculated over the trailing 5-year period

0.86

Correlation (10Y)
Calculated over the trailing 10-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.85

Benchmark Correlations

Correlation vs. S&P 500 Index. VOO has the highest benchmark correlation at 1.00, while SMH has the lowest at 0.77.

SMH
0.77
VOO
1.00

Portfolio Correlations

Correlation vs. SMH+VOO. SMH has the highest portfolio correlation at 0.99, while VOO has the lowest at 0.85.

VOO
0.85
SMH
0.99

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.
SMHVOO
SMH1.000.77
VOO0.771.00
The correlation results are calculated based on daily price changes starting from Sep 9, 2010
Diversification Analysis

Find what SMH+VOO is missing

See which holdings overlap, where SMH+VOO is concentrated, and which low-correlation assets could fill the gaps.

Analyze Diversification