AWK vs. SMH

Last updated Aug 1, 2026

AWK (American Water Works Company, Inc.) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, AWK returned 7.12%/yr vs 34.16%/yr for SMH. Their 0.16 correlation means their historical movements had little consistent relationship.

Performance

AWK vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Water Works Company, Inc. (AWK) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AWK achieves a 4.25% return, which is significantly lower than SMH's 50.09% return. Over the past 10 years, AWK has underperformed SMH with an annualized return of 7.12%, while SMH has yielded a comparatively higher 34.16% annualized return.

AWK

• 1D: -1.93%
• 1M: -1.97%
• 6M: 5.36%
• YTD: 4.25%
• 1Y: -5.50%
• 3Y*: -0.08%
• 5Y*: -2.62%
• 10Y*: 7.12%
• ALL TIME*: 13.51%

SMH

• 1D: 0.30%
• 1M: -8.74%
• 6M: 33.97%
• YTD: 50.09%
• 1Y: 90.95%
• 3Y*: 50.56%
• 5Y*: 33.46%
• 10Y*: 34.16%
• ALL TIME*: 11.06%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AWK American Water Works Company, Inc.	$350.60M	$305.70M	$284.77M
SMH VanEck Semiconductor ETF	$8.28B	$7.64B	$7.07B

AWK vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AWK American Water Works Company, Inc.	4.25%	7.40%	-3.53%	-11.68%	-17.89%	24.83%	26.88%	37.79%	1.32%	29.01%
SMH VanEck Semiconductor ETF	50.09%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between AWK and SMH is -0.36, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.36
Correlation (3Y) Balances recent behavior with more history.	-0.21
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.00
Correlation (10Y) Provides a long-term view across more market conditions.	0.06
Correlation (All Time) Calculated using the full available price history since Apr 23, 2008	0.16

The correlation between AWK and SMH shifts across timeframes, from -0.36 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AWK vs. SMH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AWK

AWK Risk / Return Rank: 38
AWK Sharpe Ratio Rank: 41
AWK Sortino Ratio Rank: 34
AWK Omega Ratio Rank: 34
AWK Calmar Ratio Rank: 41
AWK Martin Ratio Rank: 40

SMH

SMH Risk / Return Rank: 87
SMH Sharpe Ratio Rank: 91
SMH Sortino Ratio Rank: 83
SMH Omega Ratio Rank: 84
SMH Calmar Ratio Rank: 88
SMH Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AWK vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Water Works Company, Inc. (AWK) 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.

	AWK	SMH	Difference
Sharpe ratio: Return per unit of total volatility	-0.08	2.29	-2.37
Sortino ratio: Return per unit of downside risk	0.05	2.70	-2.65
Omega ratio: Gain probability vs. loss probability	1.01	1.36	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.12	3.58	-3.70
Martin ratio: Return relative to average drawdown	-0.20	14.64	-14.85

AWK vs. SMH - Sharpe Ratio Comparison

The current AWK Sharpe Ratio is -0.08, which is lower than the SMH Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of AWK 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.

Drawdowns

AWK vs. SMH - Drawdown Comparison

The maximum AWK drawdown since its inception was -37.10%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for AWK and SMH.

Drawdown Indicators

	AWK	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-37.10%	-84.96%	+47.86%
Max Drawdown (1Y) Largest decline over 1 year	-15.45%	-24.62%	+9.17%
Max Drawdown (3Y) Largest decline over 3 years	-18.99%	-35.74%	+16.75%
Max Drawdown (5Y) Largest decline over 5 years	-37.10%	-45.30%	+8.20%
Max Drawdown (10Y) Largest decline over 10 years	-37.10%	-45.30%	+8.20%
Current Drawdown Current decline from peak	-21.67%	-19.19%	-2.48%
Average Drawdown Average peak-to-trough decline	-9.61%	-40.89%	+31.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.86%	6.01%	+2.85%

Volatility

AWK vs. SMH - Volatility Comparison

The current volatility for American Water Works Company, Inc. (AWK) is 8.37%, while VanEck Semiconductor ETF (SMH) has a volatility of 14.70%. This indicates that AWK 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.

Volatility by Period

	AWK	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.37%	14.70%	-6.33%
Volatility (6M) Calculated over the trailing 6-month period	16.93%	33.13%	-16.20%
Volatility (1Y) Calculated over the trailing 1-year period	22.74%	38.57%	-15.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.04%	36.50%	-13.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.83%	33.32%	-9.49%

Dividends

AWK vs. SMH - Dividend Comparison

AWK's dividend yield for the trailing twelve months is around 2.52%, more than SMH's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AWK American Water Works Company, Inc.	2.52%	2.49%	2.41%	2.10%	1.68%	1.25%	1.40%	1.59%	1.96%	1.77%	2.02%	2.23%
SMH VanEck Semiconductor ETF	0.20%	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

Can I hold both AWK and SMH in my portfolio?

AWK and SMH have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AWK or SMH?

SMH has higher volatility (14.70%) compared to AWK (8.37%). In terms of maximum drawdown, AWK dropped -37.10% vs SMH's -84.96%.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (2.29 vs -0.08), 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.