AXP vs. SMH
AXP (American Express Company) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, AXP returned 19.88%/yr vs 37.49%/yr for SMH. At a 0.48 correlation, their price movements are largely independent.
Performance
AXP vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, AXP achieves a -11.56% return, which is significantly lower than SMH's 72.15% return. Over the past 10 years, AXP has underperformed SMH with an annualized return of 19.88%, while SMH has yielded a comparatively higher 37.49% annualized return.
AXP
- 1D
- 2.18%
- 1M
- 3.82%
- YTD
- -11.56%
- 6M
- -14.47%
- 1Y
- 14.27%
- 3Y*
- 24.40%
- 5Y*
- 16.02%
- 10Y*
- 19.88%
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%
AXP vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AXP American Express Company | -11.56% | 25.99% | 60.32% | 28.67% | -8.52% | 36.88% | -1.14% | 32.52% | -2.62% | 36.22% |
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 AXP and SMH is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000 | 0.48 |
Over the past year, the correlation between AXP and SMH has dropped to 0.26 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.
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Return for Risk
AXP vs. SMH — Risk / Return Rank
AXP
SMH
AXP vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Express Company (AXP) 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.
| AXP | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.74 | ||
| Sortino ratioReturn per unit of downside risk | -3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.60 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | 9.18 | -8.75 |
| Martin ratioReturn relative to average drawdown | 0.93 | 33.74 | -32.81 |
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Drawdowns
AXP vs. SMH - Drawdown Comparison
The maximum AXP drawdown since its inception was -83.91%, roughly equal to the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for AXP and SMH.
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Drawdown Indicators
| AXP | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.91% | -84.96% | +1.05% |
Max Drawdown (1Y)Largest decline over 1 year | -23.90% | -14.93% | -8.97% |
Max Drawdown (3Y)Largest decline over 3 years | -28.76% | -35.74% | +6.98% |
Max Drawdown (5Y)Largest decline over 5 years | -31.55% | -45.30% | +13.75% |
Max Drawdown (10Y)Largest decline over 10 years | -49.64% | -45.30% | -4.34% |
Current DrawdownCurrent decline from peak | -14.99% | -2.81% | -12.18% |
Average DrawdownAverage peak-to-trough decline | -22.05% | -41.04% | +18.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.15% | 4.06% | +7.09% |
Volatility
AXP vs. SMH - Volatility Comparison
The current volatility for American Express Company (AXP) is 6.90%, while VanEck Semiconductor ETF (SMH) has a volatility of 16.25%. This indicates that AXP 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
| AXP | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.90% | 16.25% | -9.35% |
Volatility (6M)Calculated over the trailing 6-month period | 20.01% | 27.73% | -7.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.46% | 33.20% | -6.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.50% | 35.47% | -5.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.83% | 32.82% | -0.99% |
Dividends
AXP vs. SMH - Dividend Comparison
AXP's dividend yield for the trailing twelve months is around 1.05%, more than SMH's 0.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AXP American Express Company | 1.05% | 0.85% | 0.91% | 1.24% | 1.35% | 1.05% | 1.42% | 1.29% | 1.51% | 1.32% | 1.61% | 1.58% |
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
AXP and SMH have a correlation of 0.26, 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 AXP (6.90%). In terms of maximum drawdown, AXP dropped -83.91% vs SMH's -84.96%.
SMH currently has the higher Sharpe Ratio (4.13 vs 0.39), 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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