SM vs. SMH
SM (SM Energy Company) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, SM returned 3.50%/yr vs 34.16%/yr for SMH. Their 0.28 correlation means their historical movements had little consistent relationship.
Performance
SM vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, SM achieves a 76.60% return, which is significantly higher than SMH's 50.09% return. Over the past 10 years, SM has underperformed SMH with an annualized return of 3.50%, while SMH has yielded a comparatively higher 34.16% annualized return.
SM
- 1D
- 2.81%
- 1M
- 21.12%
- 6M
- 69.61%
- YTD
- 76.60%
- 1Y
- 26.35%
- 3Y*
- -0.89%
- 5Y*
- 13.85%
- 10Y*
- 3.50%
- ALL TIME*
- 8.28%
SMH
- 1D
- 0.30%
- 1M
- -8.74%
- 6M
- 33.97%
- YTD
- 50.09%
- 1Y
- 90.95%
- 3Y*
- 50.56%
- 5Y*
- 33.46%
- 10Y*
- 34.16%
- ALL TIME*
- 11.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $102.21M | $105.05M | $118.88M | |
| $8.28B | $7.64B | $7.07B |
SM vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SM SM Energy Company | 76.60% | -49.72% | 1.84% | 13.14% | 18.58% | 382.16% | -44.85% | -26.72% | -29.60% | -35.65% |
SMH VanEck Semiconductor ETF | 50.09% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Correlation
The correlation between SM and SMH is -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000 | 0.28 |
The correlation between SM and SMH shifts across timeframes, from -0.08 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SM vs. SMH — Risk / Return Rank
SM
SMH
SM vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SM Energy Company (SM) 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.
| SM | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.36 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | 3.58 | -3.00 |
| Martin ratioReturn relative to average drawdown | 1.05 | 14.64 | -13.59 |
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Drawdowns
SM vs. SMH - Drawdown Comparison
The maximum SM drawdown since its inception was -98.85%, which is greater than SMH's maximum drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for SM and SMH.
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Drawdown Indicators
| SM | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.85% | -84.96% | -13.89% |
Max Drawdown (1Y)Largest decline over 1 year | -38.16% | -24.62% | -13.54% |
Max Drawdown (3Y)Largest decline over 3 years | -64.87% | -35.74% | -29.13% |
Max Drawdown (5Y)Largest decline over 5 years | -65.01% | -45.30% | -19.71% |
Max Drawdown (10Y)Largest decline over 10 years | -97.46% | -45.30% | -52.16% |
Current DrawdownCurrent decline from peak | -59.58% | -19.19% | -40.39% |
Average DrawdownAverage peak-to-trough decline | -40.01% | -40.89% | +0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.10% | 6.01% | +15.09% |
Volatility
SM vs. SMH - Volatility Comparison
SM Energy Company (SM) has a higher volatility of 17.28% compared to VanEck Semiconductor ETF (SMH) at 14.70%. This indicates that SM'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
| SM | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.28% | 14.70% | +2.58% |
Volatility (6M)Calculated over the trailing 6-month period | 40.81% | 33.13% | +7.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.14% | 38.57% | +12.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.72% | 36.50% | +17.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.70% | 33.32% | +46.38% |
Dividends
SM vs. SMH - Dividend Comparison
SM's dividend yield for the trailing twelve months is around 2.58%, more than SMH's 0.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SM SM Energy Company | 2.58% | 5.35% | 1.91% | 1.55% | 0.46% | 0.07% | 0.33% | 0.89% | 0.65% | 0.45% | 0.29% | 0.51% |
SMH VanEck Semiconductor ETF | 0.20% | 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
SM and SMH have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SM has higher volatility (17.28%) compared to SMH (14.70%). In terms of maximum drawdown, SM dropped -98.85% vs SMH's -84.96%.
SMH currently has the higher Sharpe Ratio (2.29 vs 0.43), 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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