ASX vs. SMH
ASX (ASE Technology Holding Co., Ltd.) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, ASX returned 27.14%/yr vs 37.68%/yr for SMH. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
ASX vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, ASX achieves a 147.89% return, which is significantly higher than SMH's 77.13% return. Over the past 10 years, ASX has underperformed SMH with an annualized return of 27.14%, while SMH has yielded a comparatively higher 37.68% annualized return.
ASX
- 1D
- 1.66%
- 1M
- 23.64%
- YTD
- 147.89%
- 6M
- 159.16%
- 1Y
- 336.26%
- 3Y*
- 78.22%
- 5Y*
- 44.06%
- 10Y*
- 27.14%
SMH
- 1D
- 0.90%
- 1M
- 25.87%
- YTD
- 77.13%
- 6M
- 75.61%
- 1Y
- 157.20%
- 3Y*
- 64.17%
- 5Y*
- 39.21%
- 10Y*
- 37.68%
ASX vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ASX ASE Technology Holding Co., Ltd. | 147.89% | 65.68% | 10.14% | 60.87% | -12.75% | 38.25% | 8.13% | 53.97% | -37.08% | 31.93% |
SMH VanEck Semiconductor ETF | 77.13% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Correlation
The correlation between ASX and SMH is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2000 | 0.51 |
The correlation between ASX and SMH shifts across timeframes, from 0.51 (all time) to 0.77 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ASX vs. SMH — Risk / Return Rank
ASX
SMH
ASX vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ASE Technology Holding Co., Ltd. (ASX) 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.
| ASX | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.57 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.87 | 1.72 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 20.16 | 10.59 | +9.57 |
| Martin ratioReturn relative to average drawdown | 55.80 | 40.63 | +15.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ASX | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.76 | 5.19 | +2.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.12 | 1.13 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 1.16 | -0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.34 | +0.05 |
Drawdowns
ASX vs. SMH - Drawdown Comparison
The maximum ASX drawdown since its inception was -78.05%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for ASX and SMH.
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Drawdown Indicators
| ASX | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.05% | -84.96% | +6.91% |
Max Drawdown (1Y)Largest decline over 1 year | -16.81% | -14.93% | -1.88% |
Max Drawdown (3Y)Largest decline over 3 years | -40.64% | -35.74% | -4.90% |
Max Drawdown (5Y)Largest decline over 5 years | -45.99% | -45.30% | -0.69% |
Max Drawdown (10Y)Largest decline over 10 years | -54.17% | -45.30% | -8.87% |
Current DrawdownCurrent decline from peak | -1.70% | 0.00% | -1.70% |
Average DrawdownAverage peak-to-trough decline | -22.58% | -41.09% | +18.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.06% | 3.89% | +2.17% |
Volatility
ASX vs. SMH - Volatility Comparison
ASE Technology Holding Co., Ltd. (ASX) has a higher volatility of 19.08% compared to VanEck Semiconductor ETF (SMH) at 11.47%. This indicates that ASX's price experiences larger fluctuations and is considered to be riskier 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
| ASX | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.08% | 11.47% | +7.61% |
Volatility (6M)Calculated over the trailing 6-month period | 33.26% | 24.29% | +8.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.68% | 30.56% | +13.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.70% | 35.01% | +4.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.30% | 32.57% | +5.73% |
Dividends
ASX vs. SMH - Dividend Comparison
ASX's dividend yield for the trailing twelve months is around 0.90%, more than SMH's 0.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASX ASE Technology Holding Co., Ltd. | 0.90% | 2.23% | 3.19% | 6.07% | 7.64% | 3.86% | 2.34% | 2.88% | 14.19% | 2.51% | 3.63% | 4.00% |
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% |
Frequently Asked Questions
ASX and SMH have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ASX has higher volatility (19.08%) compared to SMH (11.47%). In terms of maximum drawdown, ASX dropped -78.05% vs SMH's -84.96%.
ASX currently has the higher Sharpe Ratio (7.76 vs 5.19), 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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