PM vs. SMHX

Last updated Jun 5, 2026

PM (Philip Morris International Inc.) is a stock, while SMHX (VanEck Fabless Semiconductor ETF) is Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index. Over the past year, PM returned 0.29% vs 131.85% for SMHX. At a correlation of -0.15, they often move in opposite directions.

Performance

PM vs. SMHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Philip Morris International Inc. (PM) and VanEck Fabless Semiconductor ETF (SMHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PM achieves a 10.07% return, which is significantly lower than SMHX's 74.81% return.

PM

• 1D: -0.54%
• 1M: 3.26%
• YTD: 10.07%
• 6M: 19.91%
• 1Y: 0.29%
• 3Y*: 30.47%
• 5Y*: 17.78%
• 10Y*: 11.09%

SMHX

• 1D: -2.03%
• 1M: 27.33%
• YTD: 74.81%
• 6M: 68.22%
• 1Y: 131.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PM vs. SMHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PM Philip Morris International Inc.	10.07%	37.99%	0.39%
SMHX VanEck Fabless Semiconductor ETF	74.81%	30.00%	17.76%

Correlation

The correlation between PM and SMHX is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.19
Correlation (All Time) Calculated using the full available price history since Aug 29, 2024	-0.15

Return for Risk

PM vs. SMHX — Risk / Return Rank

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

PM

PM Risk / Return Rank: 39
PM Sharpe Ratio Rank: 42
PM Sortino Ratio Rank: 35
PM Omega Ratio Rank: 36
PM Calmar Ratio Rank: 41
PM Martin Ratio Rank: 41

SMHX

SMHX Risk / Return Rank: 92
SMHX Sharpe Ratio Rank: 96
SMHX Sortino Ratio Rank: 91
SMHX Omega Ratio Rank: 89
SMHX Calmar Ratio Rank: 95
SMHX Martin Ratio Rank: 91

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.

PM vs. SMHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Philip Morris International Inc. (PM) and VanEck Fabless Semiconductor ETF (SMHX). 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.

	PM	SMHX	Difference
Sharpe ratio: Return per unit of total volatility	0.01	4.06	-4.04
Sortino ratio: Return per unit of downside risk	0.20	4.32	-4.12
Omega ratio: Gain probability vs. loss probability	1.03	1.56	-0.54
Calmar ratio: Return relative to maximum drawdown	0.01	7.78	-7.76
Martin ratio: Return relative to average drawdown	0.03	21.87	-21.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PM vs. SMHX - Sharpe Ratio Comparison

The current PM Sharpe Ratio is 0.01, which is lower than the SMHX Sharpe Ratio of 4.06. The chart below compares the historical Sharpe Ratios of PM and SMHX, 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

	PM	SMHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.01	4.06	-4.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	1.89	-1.36

Drawdowns

PM vs. SMHX - Drawdown Comparison

The maximum PM drawdown since its inception was -42.87%, which is greater than SMHX's maximum drawdown of -38.53%. Use the drawdown chart below to compare losses from any high point for PM and SMHX.

Drawdown Indicators

	PM	SMHX	Difference
Max Drawdown Largest peak-to-trough decline	-42.87%	-38.53%	-4.34%
Max Drawdown (1Y) Largest decline over 1 year	-20.64%	-17.06%	-3.58%
Max Drawdown (3Y) Largest decline over 3 years	-20.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.78%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.87%	—	—
Current Drawdown Current decline from peak	-8.79%	-2.03%	-6.76%
Average Drawdown Average peak-to-trough decline	-10.03%	-7.32%	-2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.77%	6.05%	+4.72%

Volatility

PM vs. SMHX - Volatility Comparison

The current volatility for Philip Morris International Inc. (PM) is 9.51%, while VanEck Fabless Semiconductor ETF (SMHX) has a volatility of 12.19%. This indicates that PM experiences smaller price fluctuations and is considered to be less risky than SMHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PM	SMHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.51%	12.19%	-2.68%
Volatility (6M) Calculated over the trailing 6-month period	20.94%	25.18%	-4.24%
Volatility (1Y) Calculated over the trailing 1-year period	27.55%	32.71%	-5.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.69%	39.96%	-17.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.43%	39.96%	-15.53%

Dividends

PM vs. SMHX - Dividend Comparison

PM's dividend yield for the trailing twelve months is around 3.29%, more than SMHX's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PM Philip Morris International Inc.	3.29%	3.52%	4.40%	5.46%	4.98%	5.16%	5.73%	5.43%	6.73%	3.99%	4.50%	4.60%
SMHX VanEck Fabless Semiconductor ETF	0.01%	0.02%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PM and SMHX in my portfolio?

PM and SMHX have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PM or SMHX?

SMHX has higher volatility (12.19%) compared to PM (9.51%). In terms of maximum drawdown, PM dropped -42.87% vs SMHX's -38.53%.

Which has better risk-adjusted returns?

SMHX currently has the higher Sharpe Ratio (4.06 vs 0.01), 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.