APPF vs. SMCI

Last updated Jun 5, 2026

APPF (AppFolio, Inc.) and SMCI (Super Micro Computer, Inc.) are both stocks. Both are in the Technology sector — APPF in Software - Application, SMCI in Computer Hardware. Over the past 10 years, APPF returned 26.99%/yr vs 33.31%/yr for SMCI. At a 0.23 correlation, their price movements are largely independent.

Performance

APPF vs. SMCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AppFolio, Inc. (APPF) and Super Micro Computer, Inc. (SMCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APPF achieves a -29.66% return, which is significantly lower than SMCI's 60.23% return. Over the past 10 years, APPF has underperformed SMCI with an annualized return of 26.99%, while SMCI has yielded a comparatively higher 33.31% annualized return.

APPF

• 1D: -1.58%
• 1M: -5.27%
• YTD: -29.66%
• 6M: -30.59%
• 1Y: -24.93%
• 3Y*: 1.82%
• 5Y*: 4.06%
• 10Y*: 26.99%

SMCI

• 1D: -1.10%
• 1M: 68.52%
• YTD: 60.23%
• 6M: 37.01%
• 1Y: 6.28%
• 3Y*: 28.00%
• 5Y*: 66.47%
• 10Y*: 33.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

APPF vs. SMCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APPF AppFolio, Inc.	-29.66%	-5.70%	42.42%	64.40%	-12.95%	-32.76%	63.75%	85.66%	42.70%	74.00%
SMCI Super Micro Computer, Inc.	60.23%	-3.97%	7.23%	246.24%	86.80%	38.82%	31.81%	74.06%	-34.07%	-25.38%

Correlation

The correlation between APPF and SMCI is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jun 29, 2015	0.23

The correlation between APPF and SMCI shifts across timeframes, from 0.14 (1 year) to 0.25 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap APPF : $5.86B SMCI : $31.59B
EPS APPF : $4.21 SMCI : $2.70
PE Ratio APPF : 38.90 SMCI : 17.35
PEG Ratio APPF : 0.02 SMCI : 0.38
PS Ratio APPF : 5.94 SMCI : 0.92
PB Ratio APPF : 12.46 SMCI : 4.17
Total Revenue (TTM) APPF : $995.33M SMCI : $33.70B
Gross Profit (TTM) APPF : $629.41M SMCI : $2.83B
EBITDA (TTM) APPF : $197.89M SMCI : $1.47B

Return for Risk

APPF vs. SMCI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APPF

APPF Risk / Return Rank: 20
APPF Sharpe Ratio Rank: 16
APPF Sortino Ratio Rank: 16
APPF Omega Ratio Rank: 17
APPF Calmar Ratio Rank: 26
APPF Martin Ratio Rank: 27

SMCI

SMCI Risk / Return Rank: 45
SMCI Sharpe Ratio Rank: 45
SMCI Sortino Ratio Rank: 47
SMCI Omega Ratio Rank: 48
SMCI Calmar Ratio Rank: 44
SMCI Martin Ratio Rank: 43

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.

APPF vs. SMCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AppFolio, Inc. (APPF) and Super Micro Computer, Inc. (SMCI). 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.

	APPF	SMCI	Difference
Sharpe ratio: Return per unit of total volatility	-0.58	0.08	-0.66
Sortino ratio: Return per unit of downside risk	-0.72	0.69	-1.41
Omega ratio: Gain probability vs. loss probability	0.92	1.10	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.45	0.10	-0.55
Martin ratio: Return relative to average drawdown	-0.76	0.16	-0.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APPF vs. SMCI - Sharpe Ratio Comparison

The current APPF Sharpe Ratio is -0.58, which is lower than the SMCI Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of APPF and SMCI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APPF	SMCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.58	0.08	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.78	-0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.47	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.37	+0.20

Drawdowns

APPF vs. SMCI - Drawdown Comparison

The maximum APPF drawdown since its inception was -55.38%, smaller than the maximum SMCI drawdown of -84.84%. Use the drawdown chart below to compare losses from any high point for APPF and SMCI.

Drawdown Indicators

	APPF	SMCI	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-84.84%	+29.46%
Max Drawdown (1Y) Largest decline over 1 year	-55.38%	-66.18%	+10.80%
Max Drawdown (3Y) Largest decline over 3 years	-55.38%	-84.84%	+29.46%
Max Drawdown (5Y) Largest decline over 5 years	-55.38%	-84.84%	+29.46%
Max Drawdown (10Y) Largest decline over 10 years	-55.38%	-84.84%	+29.46%
Current Drawdown Current decline from peak	-49.06%	-60.52%	+11.46%
Average Drawdown Average peak-to-trough decline	-18.32%	-31.94%	+13.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.72%	38.83%	-6.11%

Volatility

APPF vs. SMCI - Volatility Comparison

The current volatility for AppFolio, Inc. (APPF) is 15.69%, while Super Micro Computer, Inc. (SMCI) has a volatility of 30.50%. This indicates that APPF experiences smaller price fluctuations and is considered to be less risky than SMCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APPF	SMCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.69%	30.50%	-14.81%
Volatility (6M) Calculated over the trailing 6-month period	30.95%	66.38%	-35.43%
Volatility (1Y) Calculated over the trailing 1-year period	43.11%	78.89%	-35.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.18%	85.25%	-42.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.22%	70.41%	-26.19%

Dividends

APPF vs. SMCI - Dividend Comparison

Neither APPF nor SMCI has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

APPF vs. SMCI - Profitability Comparison

The chart below illustrates the profitability comparison between AppFolio, Inc. and Super Micro Computer, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

APPF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AppFolio, Inc. reported a gross profit of 167.24M and revenue of 262.21M. Therefore, the gross margin over that period was 63.8%.

SMCI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Super Micro Computer, Inc. reported a gross profit of 1.02B and revenue of 10.24B. Therefore, the gross margin over that period was 10.0%.

APPF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AppFolio, Inc. reported an operating income of 50.75M and revenue of 262.21M, resulting in an operating margin of 19.4%.

SMCI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Super Micro Computer, Inc. reported an operating income of 625.87M and revenue of 10.24B, resulting in an operating margin of 6.1%.

APPF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AppFolio, Inc. reported a net income of 42.42M and revenue of 262.21M, resulting in a net margin of 16.2%.

SMCI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Super Micro Computer, Inc. reported a net income of 1.02B and revenue of 10.24B, resulting in a net margin of 9.9%.

Frequently Asked Questions

Can I hold both APPF and SMCI in my portfolio?

APPF and SMCI have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APPF or SMCI?

SMCI has higher volatility (30.50%) compared to APPF (15.69%). In terms of maximum drawdown, APPF dropped -55.38% vs SMCI's -84.84%.

Which has better risk-adjusted returns?

SMCI currently has the higher Sharpe Ratio (0.08 vs -0.58), 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.