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ARGX vs. SMH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ARGX vs. SMH

Last updated Jun 5, 2026

ARGX (argenx SE) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 5 years, ARGX returned 25.56%/yr vs 38.76%/yr for SMH. At a 0.27 correlation, their price movements are largely independent.

Performance

ARGX vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in argenx SE (ARGX) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ARGX achieves a 0.16% return, which is significantly lower than SMH's 74.25% return.

ARGX

1D
3.58%
1M
5.99%
YTD
0.16%
6M
-8.05%
1Y
46.86%
3Y*
27.88%
5Y*
25.56%
10Y*
—

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

ARGX vs. SMH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ARGX
argenx SE		0.16%36.74%61.66%0.42%8.18%19.08%83.21%67.09%52.15%174.52%
SMH
VanEck Semiconductor ETF		74.25%49.17%39.10%73.38%-33.53%42.13%55.53%64.45%-9.05%19.83%

Correlation

The correlation between ARGX and SMH 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

0.18

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

0.24

Correlation (All Time)
Calculated using the full available price history since May 19, 2017

0.27

The correlation between ARGX and SMH shifts across timeframes, from 0.14 (1 year) to 0.27 (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.

argenx SE

VanEck Semiconductor ETF

Often compared with ARGX:
ARGX vs. SPYARGX vs. SCHDARGX vs. VOOARGX vs. ARESARGX vs. WMARGX vs. ALGNARGX vs. VTSAX
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK

Return for Risk

ARGX vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ARGX
ARGX Risk / Return Rank: 7777
Overall Rank
ARGX Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
ARGX Sortino Ratio Rank: 8181
Sortino Ratio Rank
ARGX Omega Ratio Rank: 7878
Omega Ratio Rank
ARGX Calmar Ratio Rank: 7171
Calmar Ratio Rank
ARGX Martin Ratio Rank: 7373
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 9696
Overall Rank
SMH Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9595
Sortino Ratio Rank
SMH Omega Ratio Rank: 9494
Omega Ratio Rank
SMH Calmar Ratio Rank: 9797
Calmar Ratio Rank
SMH Martin Ratio Rank: 9696
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.

ARGX vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for argenx SE (ARGX) 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.

ARGXSMHDifference
Sharpe ratioReturn per unit of total volatility
1.57
4.94

-3.37

Sortino ratioReturn per unit of downside risk
2.33
5.05

-2.72

Omega ratioGain probability vs. loss probability

1.29

1.69

-0.41

Calmar ratioReturn relative to maximum drawdown

1.65

10.11

-8.46

Martin ratioReturn relative to average drawdown

4.36

38.76

-34.40

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARGX vs. SMH - Sharpe Ratio Comparison

The current ARGX Sharpe Ratio is 1.57, which is lower than the SMH Sharpe Ratio of 4.94. The chart below compares the historical Sharpe Ratios of ARGX and SMH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ARGXSMHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.57

4.94

-3.37

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

1.11

-0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.15

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.97

0.34

+0.63

Drawdowns

ARGX vs. SMH - Drawdown Comparison

The maximum ARGX drawdown since its inception was -38.20%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for ARGX and SMH.

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Drawdown Indicators

ARGXSMHDifference

Max Drawdown

Largest peak-to-trough decline

-38.20%

-84.96%

+46.76%

Max Drawdown (1Y)

Largest decline over 1 year

-28.58%

-14.93%

-13.65%

Max Drawdown (3Y)

Largest decline over 3 years

-38.20%

-35.74%

-2.46%

Max Drawdown (5Y)

Largest decline over 5 years

-38.20%

-45.30%

+7.10%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.30%

—

Current Drawdown

Current decline from peak

-9.40%

-1.63%

-7.77%

Average Drawdown

Average peak-to-trough decline

-11.10%

-41.08%

+29.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.77%

3.89%

+6.88%

Volatility

ARGX vs. SMH - Volatility Comparison

The current volatility for argenx SE (ARGX) is 10.09%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.58%. This indicates that ARGX 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.

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Volatility by Period

ARGXSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.09%

11.58%

-1.49%

Volatility (6M)

Calculated over the trailing 6-month period

21.20%

24.35%

-3.15%

Volatility (1Y)

Calculated over the trailing 1-year period

29.93%

30.57%

-0.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

38.76%

35.01%

+3.75%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

50.67%

32.57%

+18.10%

Dividends

ARGX vs. SMH - Dividend Comparison

ARGX has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.18%.

PositionTTM20252024202320222021202020192018201720162015
ARGX
argenx SE		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SMH
VanEck Semiconductor ETF		0.18%0.31%0.44%0.60%1.18%0.51%0.69%1.50%1.88%1.43%0.80%2.14%

Frequently Asked Questions

ARGX and SMH 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.

SMH has higher volatility (11.58%) compared to ARGX (10.09%). In terms of maximum drawdown, ARGX dropped -38.20% vs SMH's -84.96%.

SMH currently has the higher Sharpe Ratio (4.94 vs 1.57), 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.

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