IONS vs. SMH
Compare and contrast key facts about Ionis Pharmaceuticals, Inc. (IONS) and VanEck Semiconductor ETF (SMH).
SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011.
Performance
IONS vs. SMH - Performance Comparison
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IONS vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IONS Ionis Pharmaceuticals, Inc. | -5.08% | 126.29% | -30.90% | 33.94% | 24.12% | -46.18% | -6.41% | 11.75% | 7.48% | 5.16% |
SMH VanEck Semiconductor ETF | 6.46% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Returns By Period
In the year-to-date period, IONS achieves a -5.08% return, which is significantly lower than SMH's 6.46% return. Over the past 10 years, IONS has underperformed SMH with an annualized return of 6.23%, while SMH has yielded a comparatively higher 31.28% annualized return.
IONS
- 1D
- 3.54%
- 1M
- -7.47%
- YTD
- -5.08%
- 6M
- 14.78%
- 1Y
- 148.89%
- 3Y*
- 28.08%
- 5Y*
- 10.76%
- 10Y*
- 6.23%
SMH
- 1D
- 5.76%
- 1M
- -5.65%
- YTD
- 6.46%
- 6M
- 17.84%
- 1Y
- 81.87%
- 3Y*
- 43.47%
- 5Y*
- 25.59%
- 10Y*
- 31.28%
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Return for Risk
IONS vs. SMH — Risk / Return Rank
IONS
SMH
IONS vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ionis Pharmaceuticals, Inc. (IONS) 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.
| IONS | SMH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.96 | 2.23 | +0.72 |
Sortino ratioReturn per unit of downside risk | 4.28 | 2.85 | +1.43 |
Omega ratioGain probability vs. loss probability | 1.57 | 1.40 | +0.16 |
Calmar ratioReturn relative to maximum drawdown | 7.25 | 5.10 | +2.16 |
Martin ratioReturn relative to average drawdown | 25.04 | 18.29 | +6.75 |
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
| IONS | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.96 | 2.23 | +0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.74 | -0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.13 | 0.97 | -0.84 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.28 | -0.17 |
Correlation
The correlation between IONS and SMH is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
IONS vs. SMH - Dividend Comparison
IONS has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.29%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IONS Ionis Pharmaceuticals, 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 | 0.29% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Drawdowns
IONS vs. SMH - Drawdown Comparison
The maximum IONS drawdown since its inception was -91.42%, which is greater than SMH's maximum drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for IONS and SMH.
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Drawdown Indicators
| IONS | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.42% | -84.96% | -6.46% |
Max Drawdown (1Y)Largest decline over 1 year | -19.45% | -15.95% | -3.50% |
Max Drawdown (5Y)Largest decline over 5 years | -52.36% | -45.30% | -7.06% |
Max Drawdown (10Y)Largest decline over 10 years | -70.39% | -45.30% | -25.09% |
Current DrawdownCurrent decline from peak | -13.19% | -10.03% | -3.16% |
Average DrawdownAverage peak-to-trough decline | -52.59% | -41.36% | -11.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.63% | 4.44% | +1.19% |
Volatility
IONS vs. SMH - Volatility Comparison
The current volatility for Ionis Pharmaceuticals, Inc. (IONS) is 10.99%, while VanEck Semiconductor ETF (SMH) has a volatility of 12.11%. This indicates that IONS 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
| IONS | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.99% | 12.11% | -1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 22.34% | 23.95% | -1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.77% | 36.84% | +13.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.73% | 34.71% | +8.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.55% | 32.28% | +16.27% |