^XOI vs. SMH
^XOI (Amex Oil Index) is an index, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, ^XOI returned 8.68%/yr vs 37.49%/yr for SMH. At a 0.36 correlation, their price movements are largely independent.
Performance
^XOI vs. SMH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ^XOI achieves a 39.87% return, which is significantly lower than SMH's 74.25% return. Over the past 10 years, ^XOI has underperformed SMH with an annualized return of 8.68%, while SMH has yielded a comparatively higher 37.49% annualized return.
^XOI
- 1D
- -0.75%
- 1M
- -1.70%
- YTD
- 39.87%
- 6M
- 33.38%
- 1Y
- 52.54%
- 3Y*
- 16.77%
- 5Y*
- 17.65%
- 10Y*
- 8.68%
SMH
- 1D
- -1.63%
- 1M
- 20.06%
- YTD
- 74.25%
- 6M
- 74.08%
- 1Y
- 150.04%
- 3Y*
- 63.96%
- 5Y*
- 38.76%
- 10Y*
- 37.49%
^XOI vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^XOI Amex Oil Index | 39.87% | 5.29% | -5.31% | 4.21% | 51.69% | 48.67% | -37.63% | 9.62% | -13.21% | 5.33% |
SMH VanEck Semiconductor ETF | 74.25% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Correlation
The correlation between ^XOI and SMH is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2000 | 0.36 |
The correlation between ^XOI and SMH shifts across timeframes, from -0.07 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
^XOI vs. SMH — Risk / Return Rank
^XOI
SMH
^XOI vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amex Oil Index (^XOI) and VanEck Semiconductor ETF (SMH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ^XOI | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.33 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.69 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 10.11 | -6.85 |
| Martin ratioReturn relative to average drawdown | 11.54 | 38.76 | -27.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ^XOI | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 4.94 | -3.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 1.11 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 1.15 | -0.92 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.34 | -0.16 |
Drawdowns
^XOI vs. SMH - Drawdown Comparison
The maximum ^XOI drawdown since its inception was -72.79%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for ^XOI and SMH.
Loading charts...
Drawdown Indicators
| ^XOI | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.79% | -84.96% | +12.17% |
Max Drawdown (1Y)Largest decline over 1 year | -16.12% | -14.93% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -32.99% | -35.74% | +2.75% |
Max Drawdown (5Y)Largest decline over 5 years | -32.99% | -45.30% | +12.31% |
Max Drawdown (10Y)Largest decline over 10 years | -70.65% | -45.30% | -25.35% |
Current DrawdownCurrent decline from peak | -4.05% | -1.63% | -2.42% |
Average DrawdownAverage peak-to-trough decline | -15.63% | -41.08% | +25.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.55% | 3.89% | +0.66% |
Volatility
^XOI vs. SMH - Volatility Comparison
The current volatility for Amex Oil Index (^XOI) is 9.46%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.58%. This indicates that ^XOI experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ^XOI | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.46% | 11.58% | -2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 19.27% | 24.35% | -5.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.65% | 30.57% | +2.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.20% | 35.01% | -3.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.22% | 32.57% | +4.65% |
Frequently Asked Questions
^XOI and SMH have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMH has higher volatility (11.58%) compared to ^XOI (9.46%). In terms of maximum drawdown, ^XOI dropped -72.79% vs SMH's -84.96%.
SMH currently has the higher Sharpe Ratio (4.94 vs 1.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for ^XOI and SMH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer