ATI vs. SMH
ATI (Allegheny Technologies Incorporated) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, ATI returned 31.31%/yr vs 37.49%/yr for SMH. At a 0.42 correlation, their price movements are largely independent.
Performance
ATI vs. SMH - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ATI having a 72.95% return and SMH slightly lower at 72.15%. Over the past 10 years, ATI has underperformed SMH with an annualized return of 31.31%, while SMH has yielded a comparatively higher 37.49% annualized return.
ATI
- 1D
- -0.51%
- 1M
- 28.70%
- YTD
- 72.95%
- 6M
- 82.16%
- 1Y
- 133.59%
- 3Y*
- 69.52%
- 5Y*
- 52.82%
- 10Y*
- 31.31%
SMH
- 1D
- 1.72%
- 1M
- 11.44%
- YTD
- 72.15%
- 6M
- 75.62%
- 1Y
- 141.99%
- 3Y*
- 60.05%
- 5Y*
- 38.42%
- 10Y*
- 37.49%
ATI vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ATI Allegheny Technologies Incorporated | 72.95% | 108.50% | 21.05% | 52.28% | 87.45% | -5.01% | -18.83% | -5.10% | -9.82% | 51.54% |
SMH VanEck Semiconductor ETF | 72.15% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Correlation
The correlation between ATI and SMH is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000 | 0.42 |
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Return for Risk
ATI vs. SMH — Risk / Return Rank
ATI
SMH
ATI vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allegheny Technologies Incorporated (ATI) 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.
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.
| ATI | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.60 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 5.40 | 9.18 | -3.78 |
| Martin ratioReturn relative to average drawdown | 13.48 | 33.74 | -20.25 |
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Drawdowns
ATI vs. SMH - Drawdown Comparison
The maximum ATI drawdown since its inception was -94.72%, which is greater than SMH's maximum drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for ATI and SMH.
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Drawdown Indicators
| ATI | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.72% | -84.96% | -9.76% |
Max Drawdown (1Y)Largest decline over 1 year | -25.31% | -14.93% | -10.38% |
Max Drawdown (3Y)Largest decline over 3 years | -38.02% | -35.74% | -2.28% |
Max Drawdown (5Y)Largest decline over 5 years | -39.03% | -45.30% | +6.27% |
Max Drawdown (10Y)Largest decline over 10 years | -82.43% | -45.30% | -37.13% |
Current DrawdownCurrent decline from peak | -0.51% | -2.81% | +2.30% |
Average DrawdownAverage peak-to-trough decline | -60.76% | -41.04% | -19.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.12% | 4.06% | +6.06% |
Volatility
ATI vs. SMH - Volatility Comparison
The current volatility for Allegheny Technologies Incorporated (ATI) is 13.44%, while VanEck Semiconductor ETF (SMH) has a volatility of 16.25%. This indicates that ATI 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
| ATI | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.44% | 16.25% | -2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 29.89% | 27.73% | +2.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.63% | 33.20% | +9.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.12% | 35.47% | +7.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.55% | 32.82% | +18.73% |
Dividends
ATI vs. SMH - Dividend Comparison
ATI has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ATI Allegheny Technologies Incorporated | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.51% | 5.51% |
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
ATI and SMH have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMH has higher volatility (16.25%) compared to ATI (13.44%). In terms of maximum drawdown, ATI dropped -94.72% vs SMH's -84.96%.
SMH currently has the higher Sharpe Ratio (4.13 vs 3.21), 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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