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LASR vs. SMH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LASR vs. SMH

Last updated Jun 4, 2026

LASR (nLIGHT, Inc.) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 5 years, LASR returned 21.84%/yr vs 39.21%/yr for SMH. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

LASR vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in nLIGHT, Inc. (LASR) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, LASR achieves a 103.65% return, which is significantly higher than SMH's 77.13% return.

LASR

1D
0.04%
1M
10.06%
YTD
103.65%
6M
123.89%
1Y
366.93%
3Y*
74.69%
5Y*
21.84%
10Y*
—

SMH

1D
0.90%
1M
25.87%
YTD
77.13%
6M
75.61%
1Y
157.20%
3Y*
64.17%
5Y*
39.21%
10Y*
37.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

LASR vs. SMH - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
LASR
nLIGHT, Inc.		103.65%257.58%-22.30%33.14%-57.66%-26.65%61.00%14.06%-34.03%
SMH
VanEck Semiconductor ETF		77.13%49.17%39.10%73.38%-33.53%42.13%55.53%64.45%-9.90%

Correlation

The correlation between LASR and SMH is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.55

Correlation (3Y)
Calculated over the trailing 3-year period

0.53

Correlation (5Y)
Calculated over the trailing 5-year period

0.56

Correlation (All Time)
Calculated using the full available price history since Apr 27, 2018

0.54

The correlation between LASR and SMH has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

nLIGHT, Inc.

VanEck Semiconductor ETF

Often compared with LASR:
LASR vs. SITMLASR vs. COSTLASR vs. MTZLASR vs. SIILASR vs. ATMULASR vs. SYMLASR vs. ASML
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK

Return for Risk

LASR vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LASR
LASR Risk / Return Rank: 9797
Overall Rank
LASR Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
LASR Sortino Ratio Rank: 9595
Sortino Ratio Rank
LASR Omega Ratio Rank: 9393
Omega Ratio Rank
LASR Calmar Ratio Rank: 9999
Calmar Ratio Rank
LASR Martin Ratio Rank: 9999
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 9696
Overall Rank
SMH Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9595
Sortino Ratio Rank
SMH Omega Ratio Rank: 9595
Omega Ratio Rank
SMH Calmar Ratio Rank: 9797
Calmar Ratio Rank
SMH Martin Ratio Rank: 9696
Martin Ratio Rank
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.

LASR vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for nLIGHT, Inc. (LASR) 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.

LASRSMHDifference
Sharpe ratioReturn per unit of total volatility
4.82
5.19

-0.36

Sortino ratioReturn per unit of downside risk
4.05
5.22

-1.17

Omega ratioGain probability vs. loss probability

1.52

1.72

-0.21

Calmar ratioReturn relative to maximum drawdown

14.95

10.59

+4.36

Martin ratioReturn relative to average drawdown

52.43

40.63

+11.80

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LASR vs. SMH - Sharpe Ratio Comparison

The current LASR Sharpe Ratio is 4.82, which is comparable to the SMH Sharpe Ratio of 5.19. The chart below compares the historical Sharpe Ratios of LASR 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.

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Sharpe Ratios by Period

LASRSMHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.82

5.19

-0.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.34

1.13

-0.79

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.16

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.34

-0.13

Drawdowns

LASR vs. SMH - Drawdown Comparison

The maximum LASR drawdown since its inception was -85.66%, roughly equal to the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for LASR and SMH.

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Drawdown Indicators

LASRSMHDifference

Max Drawdown

Largest peak-to-trough decline

-85.66%

-84.96%

-0.70%

Max Drawdown (1Y)

Largest decline over 1 year

-24.74%

-14.93%

-9.81%

Max Drawdown (3Y)

Largest decline over 3 years

-59.01%

-35.74%

-23.27%

Max Drawdown (5Y)

Largest decline over 5 years

-82.47%

-45.30%

-37.17%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.30%

—

Current Drawdown

Current decline from peak

-10.08%

0.00%

-10.08%

Average Drawdown

Average peak-to-trough decline

-52.79%

-41.09%

-11.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.04%

3.89%

+3.15%

Volatility

LASR vs. SMH - Volatility Comparison

nLIGHT, Inc. (LASR) has a higher volatility of 28.10% compared to VanEck Semiconductor ETF (SMH) at 11.47%. This indicates that LASR'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

LASRSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

28.10%

11.47%

+16.63%

Volatility (6M)

Calculated over the trailing 6-month period

58.60%

24.29%

+34.31%

Volatility (1Y)

Calculated over the trailing 1-year period

76.78%

30.56%

+46.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

64.92%

35.01%

+29.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

66.22%

32.57%

+33.65%

Dividends

LASR vs. SMH - Dividend Comparison

LASR has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.17%.

PositionTTM20252024202320222021202020192018201720162015
LASR
nLIGHT, 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		0.17%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

LASR and SMH have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

LASR has higher volatility (28.10%) compared to SMH (11.47%). In terms of maximum drawdown, LASR dropped -85.66% vs SMH's -84.96%.

SMH currently has the higher Sharpe Ratio (5.19 vs 4.82), 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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