SMH vs. SOUN
SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while SOUN (SoundHound AI, Inc.) is a stock. Over the past 3 years, SMH returned 60.05%/yr vs 29.87%/yr for SOUN. At a 0.33 correlation, their price movements are largely independent.
Performance
SMH vs. SOUN - 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 SOUN's -30.79% 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%
SOUN
- 1D
- -1.43%
- 1M
- -18.05%
- YTD
- -30.79%
- 6M
- -40.77%
- 1Y
- -27.14%
- 3Y*
- 29.87%
- 5Y*
- —
- 10Y*
- —
SMH vs. SOUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 72.15% | 49.17% | 39.10% | 73.38% | -9.79% |
SOUN SoundHound AI, Inc. | -30.79% | -49.75% | 835.85% | 19.77% | -79.70% |
Correlation
The correlation between SMH and SOUN is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2022 | 0.33 |
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Return for Risk
SMH vs. SOUN — Risk / Return Rank
SMH
SOUN
SMH vs. SOUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and SoundHound AI, Inc. (SOUN). 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 | SOUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.47 | ||
| Sortino ratioReturn per unit of downside risk | +4.27 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.00 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 9.18 | -0.38 | +9.56 |
| Martin ratioReturn relative to average drawdown | 33.74 | -0.60 | +34.34 |
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Drawdowns
SMH vs. SOUN - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, smaller than the maximum SOUN drawdown of -93.55%. Use the drawdown chart below to compare losses from any high point for SMH and SOUN.
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Drawdown Indicators
| SMH | SOUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -93.55% | +8.59% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -72.43% | +57.50% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -75.65% | +39.91% |
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% | -71.52% | +68.71% |
Average DrawdownAverage peak-to-trough decline | -41.04% | -66.93% | +25.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 45.29% | -41.23% |
Volatility
SMH vs. SOUN - Volatility Comparison
The current volatility for VanEck Semiconductor ETF (SMH) is 16.25%, while SoundHound AI, Inc. (SOUN) has a volatility of 17.69%. This indicates that SMH experiences smaller price fluctuations and is considered to be less risky than SOUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH | SOUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.25% | 17.69% | -1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 27.73% | 52.15% | -24.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.20% | 80.70% | -47.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.47% | 136.27% | -100.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.82% | 136.27% | -103.45% |
Dividends
SMH vs. SOUN - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.18%, while SOUN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SOUN SoundHound AI, 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% |
Frequently Asked Questions
SMH and SOUN have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOUN has higher volatility (17.69%) compared to SMH (16.25%). In terms of maximum drawdown, SMH dropped -84.96% vs SOUN's -93.55%.
SMH currently has the higher Sharpe Ratio (4.13 vs -0.34), 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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