SMH vs. GEV
SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while GEV (GE Vernova Inc.) is a stock. Over the past year, SMH returned 136.32% vs 93.31% for GEV. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
SMH vs. GEV - Performance Comparison
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Returns By Period
In the year-to-date period, SMH achieves a 72.15% return, which is significantly higher than GEV's 44.12% return.
SMH
- 1D
- 1.72%
- 1M
- 8.30%
- YTD
- 72.15%
- 6M
- 75.62%
- 1Y
- 136.32%
- 3Y*
- 60.05%
- 5Y*
- 38.42%
- 10Y*
- 37.49%
GEV
- 1D
- 3.74%
- 1M
- -11.47%
- YTD
- 44.12%
- 6M
- 40.23%
- 1Y
- 93.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH vs. GEV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMH VanEck Semiconductor ETF | 72.15% | 49.17% | 8.12% |
GEV GE Vernova Inc. | 44.12% | 99.02% | 186.24% |
Correlation
The correlation between SMH and GEV is 0.52, 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 | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2024 | 0.52 |
The correlation between SMH and GEV has been stable across timeframes, ranging from 0.52 to 0.52 - a consistent structural relationship.
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Return for Risk
SMH vs. GEV — Risk / Return Rank
SMH
GEV
SMH vs. GEV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and GE Vernova Inc. (GEV). 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.
| SMH | GEV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.33 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 9.18 | 3.82 | +5.37 |
| Martin ratioReturn relative to average drawdown | 33.74 | 11.27 | +22.47 |
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Drawdowns
SMH vs. GEV - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than GEV's maximum drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for SMH and GEV.
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Drawdown Indicators
| SMH | GEV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -38.29% | -46.67% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -24.57% | +9.64% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | — | — |
Current DrawdownCurrent decline from peak | -2.81% | -18.17% | +15.36% |
Average DrawdownAverage peak-to-trough decline | -41.04% | -6.99% | -34.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 8.31% | -4.25% |
Volatility
SMH vs. GEV - Volatility Comparison
VanEck Semiconductor ETF (SMH) has a higher volatility of 16.25% compared to GE Vernova Inc. (GEV) at 13.17%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than GEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH | GEV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.25% | 13.17% | +3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 27.73% | 34.45% | -6.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.20% | 49.09% | -15.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.47% | 53.62% | -18.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.82% | 53.62% | -20.80% |
Dividends
SMH vs. GEV - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.18%, more than GEV's 0.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GEV GE Vernova Inc. | 0.16% | 0.11% | 0.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMH VanEck Semiconductor ETF | 0.18% | 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
SMH and GEV have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMH has higher volatility (16.25%) compared to GEV (13.17%). In terms of maximum drawdown, SMH dropped -84.96% vs GEV's -38.29%.
SMH currently has the higher Sharpe Ratio (4.13 vs 1.91), 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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