LUNR vs. SMH

Last updated Jun 4, 2026

LUNR (Intuitive Machines Inc. ) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 3 years, LUNR returned 66.65%/yr vs 64.17%/yr for SMH. At a 0.19 correlation, their price movements are largely independent.

Performance

LUNR vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Intuitive Machines Inc. (LUNR) 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, LUNR achieves a 108.44% return, which is significantly higher than SMH's 77.13% return.

LUNR

• 1D: -14.51%
• 1M: 33.45%
• YTD: 108.44%
• 6M: 231.67%
• 1Y: 206.71%
• 3Y*: 66.65%
• 5Y*: —
• 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)

LUNR vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LUNR Intuitive Machines Inc.	108.44%	-10.63%	610.76%	-74.45%	3.73%	-0.10%
SMH VanEck Semiconductor ETF	77.13%	49.17%	39.10%	73.38%	-33.53%	2.53%

Correlation

The correlation between LUNR and SMH is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (All Time) Calculated using the full available price history since Nov 18, 2021	0.19

The correlation between LUNR and SMH shifts across timeframes, from 0.19 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LUNR vs. SMH — Risk / Return Rank

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

LUNR

LUNR Risk / Return Rank: 86
LUNR Sharpe Ratio Rank: 87
LUNR Sortino Ratio Rank: 84
LUNR Omega Ratio Rank: 80
LUNR Calmar Ratio Rank: 91
LUNR Martin Ratio Rank: 88

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 98
SMH Sortino Ratio Rank: 95
SMH Omega Ratio Rank: 95
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.

LUNR vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Intuitive Machines Inc. (LUNR) 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.

	LUNR	SMH	Difference
Sharpe ratio: Return per unit of total volatility	1.92	5.19	-3.27
Sortino ratio: Return per unit of downside risk	2.65	5.22	-2.57
Omega ratio: Gain probability vs. loss probability	1.31	1.72	-0.41
Calmar ratio: Return relative to maximum drawdown	4.97	10.59	-5.62
Martin ratio: Return relative to average drawdown	10.59	40.63	-30.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LUNR vs. SMH - Sharpe Ratio Comparison

The current LUNR Sharpe Ratio is 1.92, which is lower than the SMH Sharpe Ratio of 5.19. The chart below compares the historical Sharpe Ratios of LUNR 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

	LUNR	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	5.19	-3.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.34	-0.15

Drawdowns

LUNR vs. SMH - Drawdown Comparison

The maximum LUNR drawdown since its inception was -97.43%, which is greater than SMH's maximum drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for LUNR and SMH.

Drawdown Indicators

	LUNR	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-97.43%	-84.96%	-12.47%
Max Drawdown (1Y) Largest decline over 1 year	-41.88%	-14.93%	-26.95%
Max Drawdown (3Y) Largest decline over 3 years	-78.54%	-35.74%	-42.80%
Max Drawdown (5Y) Largest decline over 5 years	—	-45.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.30%	—
Current Drawdown Current decline from peak	-58.74%	0.00%	-58.74%
Average Drawdown Average peak-to-trough decline	-63.26%	-41.09%	-22.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.61%	3.89%	+15.72%

Volatility

LUNR vs. SMH - Volatility Comparison

Intuitive Machines Inc. (LUNR) has a higher volatility of 43.33% compared to VanEck Semiconductor ETF (SMH) at 11.47%. This indicates that LUNR'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.

Volatility by Period

	LUNR	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.33%	11.47%	+31.86%
Volatility (6M) Calculated over the trailing 6-month period	90.47%	24.29%	+66.18%
Volatility (1Y) Calculated over the trailing 1-year period	108.47%	30.56%	+77.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	171.46%	35.01%	+136.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	171.46%	32.57%	+138.89%

Dividends

LUNR vs. SMH - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LUNR Intuitive Machines 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

Can I hold both LUNR and SMH in my portfolio?

LUNR and SMH have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LUNR or SMH?

LUNR has higher volatility (43.33%) compared to SMH (11.47%). In terms of maximum drawdown, LUNR dropped -97.43% vs SMH's -84.96%.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (5.19 vs 1.92), 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.