ITOCY vs. SMH

Last updated Jun 9, 2026

ITOCY (Itochu Corp ADR) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, ITOCY returned 18.48%/yr vs 36.92%/yr for SMH. At a 0.31 correlation, their price movements are largely independent.

Performance

ITOCY vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Itochu Corp ADR (ITOCY) 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, ITOCY achieves a -8.19% return, which is significantly lower than SMH's 66.10% return. Over the past 10 years, ITOCY has underperformed SMH with an annualized return of 18.48%, while SMH has yielded a comparatively higher 36.92% annualized return.

ITOCY

• 1D: 1.57%
• 1M: -9.65%
• YTD: -8.19%
• 6M: -3.02%
• 1Y: 10.95%
• 3Y*: 15.64%
• 5Y*: 14.03%
• 10Y*: 18.48%

SMH

• 1D: 5.00%
• 1M: 5.58%
• YTD: 66.10%
• 6M: 62.81%
• 1Y: 137.42%
• 3Y*: 60.43%
• 5Y*: 37.89%
• 10Y*: 36.92%

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

ITOCY vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITOCY Itochu Corp ADR	-8.19%	30.16%	22.57%	30.30%	1.54%	6.60%	24.95%	38.77%	-5.54%	46.71%
SMH VanEck Semiconductor ETF	66.10%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between ITOCY and SMH is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 27, 2006	0.31

Return for Risk

ITOCY vs. SMH — Risk / Return Rank

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

ITOCY

ITOCY Risk / Return Rank: 53
ITOCY Sharpe Ratio Rank: 56
ITOCY Sortino Ratio Rank: 50
ITOCY Omega Ratio Rank: 48
ITOCY Calmar Ratio Rank: 54
ITOCY Martin Ratio Rank: 57

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 97
SMH Sortino Ratio Rank: 93
SMH Omega Ratio Rank: 94
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.

ITOCY vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Itochu Corp ADR (ITOCY) 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.

	ITOCY	SMH	Difference
Sharpe ratio: Return per unit of total volatility	0.41	4.27	-3.86
Sortino ratio: Return per unit of downside risk	0.77	4.33	-3.56
Omega ratio: Gain probability vs. loss probability	1.09	1.62	-0.53
Calmar ratio: Return relative to maximum drawdown	0.50	9.26	-8.76
Martin ratio: Return relative to average drawdown	1.37	34.80	-33.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITOCY vs. SMH - Sharpe Ratio Comparison

The current ITOCY Sharpe Ratio is 0.41, which is lower than the SMH Sharpe Ratio of 4.27. The chart below compares the historical Sharpe Ratios of ITOCY 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.

Sharpe Ratios by Period

	ITOCY	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.41	4.27	-3.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	1.08	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	1.13	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.33	+0.06

Drawdowns

ITOCY vs. SMH - Drawdown Comparison

The maximum ITOCY drawdown since its inception was -69.11%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for ITOCY and SMH.

Drawdown Indicators

	ITOCY	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-69.11%	-84.96%	+15.85%
Max Drawdown (1Y) Largest decline over 1 year	-22.03%	-14.93%	-7.10%
Max Drawdown (3Y) Largest decline over 3 years	-26.47%	-35.74%	+9.27%
Max Drawdown (5Y) Largest decline over 5 years	-30.18%	-45.30%	+15.12%
Max Drawdown (10Y) Largest decline over 10 years	-30.18%	-45.30%	+15.12%
Current Drawdown Current decline from peak	-20.80%	-6.23%	-14.57%
Average Drawdown Average peak-to-trough decline	-14.27%	-41.07%	+26.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.03%	3.96%	+4.07%

Volatility

ITOCY vs. SMH - Volatility Comparison

The current volatility for Itochu Corp ADR (ITOCY) is 6.96%, while VanEck Semiconductor ETF (SMH) has a volatility of 15.45%. This indicates that ITOCY 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

	ITOCY	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	15.45%	-8.49%
Volatility (6M) Calculated over the trailing 6-month period	21.14%	26.71%	-5.57%
Volatility (1Y) Calculated over the trailing 1-year period	26.91%	32.42%	-5.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.23%	35.32%	-9.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.99%	32.75%	-8.76%

Dividends

ITOCY vs. SMH - Dividend Comparison

ITOCY 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
ITOCY Itochu Corp ADR	0.00%	1.07%	1.35%	0.00%	0.00%	0.00%	0.00%	1.85%	3.93%	2.83%	3.68%	3.30%
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 ITOCY and SMH in my portfolio?

ITOCY and SMH have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITOCY or SMH?

SMH has higher volatility (15.45%) compared to ITOCY (6.96%). In terms of maximum drawdown, ITOCY dropped -69.11% vs SMH's -84.96%.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (4.27 vs 0.41), 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.