CDW vs. SMH
CDW (CDW Corporation) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, CDW returned 13.77%/yr vs 37.49%/yr for SMH. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
CDW vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, CDW achieves a 1.92% return, which is significantly lower than SMH's 74.25% return. Over the past 10 years, CDW has underperformed SMH with an annualized return of 13.77%, while SMH has yielded a comparatively higher 37.49% annualized return.
CDW
- 1D
- -1.73%
- 1M
- 2.08%
- YTD
- 1.92%
- 6M
- -3.39%
- 1Y
- -21.97%
- 3Y*
- -6.30%
- 5Y*
- -2.62%
- 10Y*
- 13.77%
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%
CDW vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CDW CDW Corporation | 1.92% | -20.56% | -22.57% | 28.84% | -11.75% | 56.87% | -6.55% | 78.22% | 17.98% | 34.92% |
SMH VanEck Semiconductor ETF | 74.25% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Correlation
The correlation between CDW and SMH is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2013 | 0.52 |
Over the past year, the correlation between CDW and SMH has dropped to 0.20 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
CDW vs. SMH — Risk / Return Rank
CDW
SMH
CDW vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CDW Corporation (CDW) 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.
| CDW | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.49 | ||
| Sortino ratioReturn per unit of downside risk | -5.59 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.69 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 10.11 | -10.60 |
| Martin ratioReturn relative to average drawdown | -0.96 | 38.76 | -39.72 |
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
| CDW | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.55 | 4.94 | -5.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.09 | 1.11 | -1.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 1.15 | -0.71 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.34 | +0.28 |
Drawdowns
CDW vs. SMH - Drawdown Comparison
The maximum CDW drawdown since its inception was -60.37%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for CDW and SMH.
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Drawdown Indicators
| CDW | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.37% | -84.96% | +24.59% |
Max Drawdown (1Y)Largest decline over 1 year | -44.97% | -14.93% | -30.04% |
Max Drawdown (3Y)Largest decline over 3 years | -60.37% | -35.74% | -24.63% |
Max Drawdown (5Y)Largest decline over 5 years | -60.37% | -45.30% | -15.07% |
Max Drawdown (10Y)Largest decline over 10 years | -60.37% | -45.30% | -15.07% |
Current DrawdownCurrent decline from peak | -44.87% | -1.63% | -43.24% |
Average DrawdownAverage peak-to-trough decline | -10.92% | -41.08% | +30.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.83% | 3.89% | +18.94% |
Volatility
CDW vs. SMH - Volatility Comparison
CDW Corporation (CDW) has a higher volatility of 29.33% compared to VanEck Semiconductor ETF (SMH) at 11.58%. This indicates that CDW'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
| CDW | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.33% | 11.58% | +17.75% |
Volatility (6M)Calculated over the trailing 6-month period | 35.43% | 24.35% | +11.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.94% | 30.57% | +9.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.88% | 35.01% | -4.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.89% | 32.57% | -1.68% |
Dividends
CDW vs. SMH - Dividend Comparison
CDW's dividend yield for the trailing twelve months is around 1.83%, more than SMH's 0.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDW CDW Corporation | 1.83% | 1.84% | 1.43% | 1.05% | 1.17% | 0.83% | 1.17% | 0.89% | 1.14% | 0.99% | 0.93% | 0.74% |
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
CDW and SMH have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDW has higher volatility (29.33%) compared to SMH (11.58%). In terms of maximum drawdown, CDW dropped -60.37% vs SMH's -84.96%.
SMH currently has the higher Sharpe Ratio (4.94 vs -0.55), 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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