HDSN vs. SMH

Last updated Jun 24, 2026

HDSN (Hudson Technologies, 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, HDSN returned 5.11%/yr vs 37.85%/yr for SMH. At a 0.13 correlation, their price movements are largely independent.

Performance

HDSN vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hudson Technologies, Inc. (HDSN) 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, HDSN achieves a -15.91% return, which is significantly lower than SMH's 72.73% return. Over the past 10 years, HDSN has underperformed SMH with an annualized return of 5.11%, while SMH has yielded a comparatively higher 37.85% annualized return.

HDSN

• 1D: 0.00%
• 1M: 13.83%
• YTD: -15.91%
• 6M: -17.12%
• 1Y: -27.18%
• 3Y*: -14.45%
• 5Y*: 12.55%
• 10Y*: 5.11%

SMH

• 1D: -7.01%
• 1M: 7.93%
• YTD: 72.73%
• 6M: 71.29%
• 1Y: 138.23%
• 3Y*: 62.28%
• 5Y*: 38.18%
• 10Y*: 37.85%

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

HDSN vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDSN Hudson Technologies, Inc.	-15.91%	22.76%	-58.64%	33.30%	127.93%	307.34%	11.51%	9.83%	-85.34%	-24.22%
SMH VanEck Semiconductor ETF	72.73%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between HDSN and SMH is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000	0.13

The correlation between HDSN and SMH shifts across timeframes, from 0.13 (all time) to 0.32 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HDSN vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HDSN

HDSN Risk / Return Rank: 21
HDSN Sharpe Ratio Rank: 17
HDSN Sortino Ratio Rank: 20
HDSN Omega Ratio Rank: 18
HDSN Calmar Ratio Rank: 24
HDSN Martin Ratio Rank: 25

SMH

SMH Risk / Return Rank: 94
SMH Sharpe Ratio Rank: 96
SMH Sortino Ratio Rank: 91
SMH Omega Ratio Rank: 92
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HDSN vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hudson Technologies, Inc. (HDSN) 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.

	HDSN	SMH	Difference
Sharpe ratio: Return per unit of total volatility	-0.58	3.99	-4.57
Sortino ratio: Return per unit of downside risk	-0.52	4.05	-4.57
Omega ratio: Gain probability vs. loss probability	0.92	1.58	-0.66
Calmar ratio: Return relative to maximum drawdown	-0.51	9.31	-9.82
Martin ratio: Return relative to average drawdown	-0.88	33.88	-34.76

HDSN vs. SMH - Sharpe Ratio Comparison

The current HDSN Sharpe Ratio is -0.58, which is lower than the SMH Sharpe Ratio of 3.99. The chart below compares the historical Sharpe Ratios of HDSN 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

HDSN vs. SMH - Drawdown Comparison

The maximum HDSN drawdown since its inception was -98.81%, which is greater than SMH's maximum drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for HDSN and SMH.

Drawdown Indicators

	HDSN	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-98.81%	-84.96%	-13.85%
Max Drawdown (1Y) Largest decline over 1 year	-53.64%	-14.93%	-38.71%
Max Drawdown (3Y) Largest decline over 3 years	-67.65%	-35.74%	-31.91%
Max Drawdown (5Y) Largest decline over 5 years	-67.65%	-45.30%	-22.35%
Max Drawdown (10Y) Largest decline over 10 years	-96.72%	-45.30%	-51.42%
Current Drawdown Current decline from peak	-77.96%	-7.01%	-70.95%
Average Drawdown Average peak-to-trough decline	-83.34%	-41.01%	-42.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.77%	4.10%	+26.67%

Volatility

HDSN vs. SMH - Volatility Comparison

The current volatility for Hudson Technologies, Inc. (HDSN) is 11.39%, while VanEck Semiconductor ETF (SMH) has a volatility of 19.08%. This indicates that HDSN 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

	HDSN	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.39%	19.08%	-7.69%
Volatility (6M) Calculated over the trailing 6-month period	33.86%	29.18%	+4.68%
Volatility (1Y) Calculated over the trailing 1-year period	47.04%	34.87%	+12.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.43%	35.83%	+21.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.64%	32.97%	+45.67%

Dividends

HDSN vs. SMH - Dividend Comparison

HDSN 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
HDSN Hudson Technologies, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both HDSN and SMH in my portfolio?

HDSN and SMH have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDSN or SMH?

SMH has higher volatility (19.08%) compared to HDSN (11.39%). In terms of maximum drawdown, HDSN dropped -98.81% vs SMH's -84.96%.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (3.99 vs -0.58), 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.