SMH vs. MU
SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while MU (Micron Technology, Inc.) is a stock. Over the past 10 years, SMH returned 34.16%/yr vs 51.33%/yr for MU. Their 0.72 correlation means they have sometimes moved together and sometimes differently.
Performance
SMH vs. MU - Performance Comparison
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Returns By Period
In the year-to-date period, SMH achieves a 50.09% return, which is significantly lower than MU's 188.53% return. Over the past 10 years, SMH has underperformed MU with an annualized return of 34.16%, while MU has yielded a comparatively higher 51.33% annualized return.
SMH
- 1D
- 0.30%
- 1M
- -12.88%
- 6M
- 33.97%
- YTD
- 50.09%
- 1Y
- 87.76%
- 3Y*
- 50.56%
- 5Y*
- 33.46%
- 10Y*
- 34.16%
- ALL TIME*
- 11.06%
MU
- 1D
- -5.90%
- 1M
- -20.26%
- 6M
- 98.49%
- YTD
- 188.53%
- 1Y
- 655.32%
- 3Y*
- 127.41%
- 5Y*
- 61.18%
- 10Y*
- 51.33%
- ALL TIME*
- 17.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $43.28B | $42.78B | $49.13B | |
| $8.28B | $7.64B | $7.07B |
SMH vs. MU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 50.09% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
MU Micron Technology, Inc. | 188.53% | 240.24% | -0.96% | 71.93% | -45.93% | 24.21% | 39.79% | 69.49% | -22.84% | 87.59% |
Correlation
The correlation between SMH and MU is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000 | 0.72 |
The correlation between SMH and MU has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.
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Return for Risk
SMH vs. MU — Risk / Return Rank
SMH
MU
SMH vs. MU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Micron Technology, Inc. (MU). 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 | MU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.88 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.63 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 16.92 | -13.33 |
| Martin ratioReturn relative to average drawdown | 14.64 | 64.08 | -49.43 |
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Drawdowns
SMH vs. MU - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, smaller than the maximum MU drawdown of -98.25%. Use the drawdown chart below to compare losses from any high point for SMH and MU.
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Drawdown Indicators
| SMH | MU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -98.25% | +13.29% |
Max Drawdown (1Y)Largest decline over 1 year | -24.62% | -39.10% | +14.48% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -57.63% | +21.89% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -57.63% | +12.33% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | -57.63% | +12.33% |
Current DrawdownCurrent decline from peak | -19.19% | -32.17% | +12.98% |
Average DrawdownAverage peak-to-trough decline | -40.89% | -58.02% | +17.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.01% | 10.31% | -4.30% |
Volatility
SMH vs. MU - Volatility Comparison
The current volatility for VanEck Semiconductor ETF (SMH) is 14.70%, while Micron Technology, Inc. (MU) has a volatility of 31.11%. This indicates that SMH experiences smaller price fluctuations and is considered to be less risky than MU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH | MU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.70% | 31.11% | -16.41% |
Volatility (6M)Calculated over the trailing 6-month period | 33.13% | 67.64% | -34.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.57% | 81.13% | -42.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.50% | 56.32% | -19.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.32% | 51.42% | -18.10% |
Dividends
SMH vs. MU - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.20%, more than MU's 0.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MU Micron Technology, Inc. | 0.06% | 0.16% | 0.55% | 0.54% | 0.89% | 0.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
SMH and MU have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MU has higher volatility (31.11%) compared to SMH (14.70%). In terms of maximum drawdown, SMH dropped -84.96% vs MU's -98.25%.
MU currently has the higher Sharpe Ratio (8.17 vs 2.29), 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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