MGNI vs. SMH

Last updated Jun 26, 2026

MGNI (Magnite, 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, MGNI returned 3.22%/yr vs 38.61%/yr for SMH. At a 0.37 correlation, their price movements are largely independent.

Performance

MGNI vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Magnite, Inc. (MGNI) 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, MGNI achieves a 6.72% return, which is significantly lower than SMH's 76.85% return. Over the past 10 years, MGNI has underperformed SMH with an annualized return of 3.22%, while SMH has yielded a comparatively higher 38.61% annualized return.

MGNI

• 1D: -5.30%
• 1M: 30.32%
• YTD: 6.72%
• 6M: 4.84%
• 1Y: -16.37%
• 3Y*: 9.42%
• 5Y*: -13.85%
• 10Y*: 3.22%

SMH

• 1D: 2.90%
• 1M: 5.77%
• YTD: 76.85%
• 6M: 74.89%
• 1Y: 132.14%
• 3Y*: 63.82%
• 5Y*: 38.94%
• 10Y*: 38.61%

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

MGNI vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGNI Magnite, Inc.	6.72%	1.95%	70.45%	-11.80%	-39.49%	-43.02%	276.35%	118.77%	99.47%	-74.80%
SMH VanEck Semiconductor ETF	76.85%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between MGNI and SMH is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Apr 2, 2014	0.37

The correlation between MGNI and SMH shifts across timeframes, from -0.00 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MGNI vs. SMH — Risk / Return Rank

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

MGNI

MGNI Risk / Return Rank: 33
MGNI Sharpe Ratio Rank: 31
MGNI Sortino Ratio Rank: 32
MGNI Omega Ratio Rank: 32
MGNI Calmar Ratio Rank: 34
MGNI Martin Ratio Rank: 36

SMH

SMH Risk / Return Rank: 95
SMH Sharpe Ratio Rank: 97
SMH Sortino Ratio Rank: 93
SMH Omega Ratio Rank: 93
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.

MGNI vs. SMH - Risk-Adjusted Trends Comparison

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

	MGNI	SMH	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	3.82	-4.10
Sortino ratio: Return per unit of downside risk	-0.03	3.94	-3.96
Omega ratio: Gain probability vs. loss probability	1.00	1.56	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.28	8.90	-9.19
Martin ratio: Return relative to average drawdown	-0.42	32.08	-32.50

MGNI vs. SMH - Sharpe Ratio Comparison

The current MGNI Sharpe Ratio is -0.29, which is lower than the SMH Sharpe Ratio of 3.82. The chart below compares the historical Sharpe Ratios of MGNI 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

MGNI vs. SMH - Drawdown Comparison

The maximum MGNI drawdown since its inception was -93.30%, which is greater than SMH's maximum drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for MGNI and SMH.

Drawdown Indicators

	MGNI	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-93.30%	-84.96%	-8.34%
Max Drawdown (1Y) Largest decline over 1 year	-57.77%	-14.93%	-42.84%
Max Drawdown (3Y) Largest decline over 3 years	-57.95%	-35.74%	-22.21%
Max Drawdown (5Y) Largest decline over 5 years	-84.35%	-45.30%	-39.05%
Max Drawdown (10Y) Largest decline over 10 years	-90.65%	-45.30%	-45.35%
Current Drawdown Current decline from peak	-71.97%	-4.79%	-67.18%
Average Drawdown Average peak-to-trough decline	-64.85%	-41.00%	-23.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.91%	4.13%	+34.78%

Volatility

MGNI vs. SMH - Volatility Comparison

Magnite, Inc. (MGNI) and VanEck Semiconductor ETF (SMH) have volatilities of 19.09% and 18.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGNI	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.09%	18.79%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	42.83%	29.21%	+13.62%
Volatility (1Y) Calculated over the trailing 1-year period	57.74%	34.82%	+22.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.06%	35.84%	+39.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	76.71%	32.97%	+43.74%

Dividends

MGNI vs. SMH - Dividend Comparison

MGNI 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
MGNI Magnite, 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 MGNI and SMH in my portfolio?

MGNI and SMH have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGNI or SMH?

MGNI has higher volatility (19.09%) compared to SMH (18.79%). In terms of maximum drawdown, MGNI dropped -93.30% vs SMH's -84.96%.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (3.82 vs -0.28), 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.