SMH vs. WM
SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while WM (Waste Management, Inc.) is a stock. Over the past 10 years, SMH returned 37.49%/yr vs 15.36%/yr for WM. At a 0.31 correlation, their price movements are largely independent.
Performance
SMH vs. WM - 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 WM's 0.71% return. Over the past 10 years, SMH has outperformed WM with an annualized return of 37.49%, while WM has yielded a comparatively lower 15.36% annualized return.
SMH
- 1D
- 1.72%
- 1M
- 11.44%
- YTD
- 72.15%
- 6M
- 75.62%
- 1Y
- 141.99%
- 3Y*
- 60.05%
- 5Y*
- 38.42%
- 10Y*
- 37.49%
WM
- 1D
- 0.30%
- 1M
- 0.26%
- YTD
- 0.71%
- 6M
- 2.63%
- 1Y
- -5.72%
- 3Y*
- 12.33%
- 5Y*
- 11.14%
- 10Y*
- 15.36%
SMH vs. WM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 72.15% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
WM Waste Management, Inc. | 0.71% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 5.32% | 24.46% |
Correlation
The correlation between SMH and WM is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000 | 0.31 |
The correlation between SMH and WM shifts across timeframes, from -0.32 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMH vs. WM — Risk / Return Rank
SMH
WM
SMH vs. WM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Waste Management, Inc. (WM). 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 | WM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.45 | ||
| Sortino ratioReturn per unit of downside risk | +4.58 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 0.96 | +0.64 |
| Calmar ratioReturn relative to maximum drawdown | 9.18 | -0.36 | +9.54 |
| Martin ratioReturn relative to average drawdown | 33.74 | -0.79 | +34.53 |
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Drawdowns
SMH vs. WM - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than WM's maximum drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for SMH and WM.
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Drawdown Indicators
| SMH | WM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -77.85% | -7.11% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -16.70% | +1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -18.14% | -17.60% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -18.14% | -27.16% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | -30.07% | -15.23% |
Current DrawdownCurrent decline from peak | -2.81% | -10.24% | +7.43% |
Average DrawdownAverage peak-to-trough decline | -41.04% | -17.69% | -23.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 7.58% | -3.52% |
Volatility
SMH vs. WM - Volatility Comparison
VanEck Semiconductor ETF (SMH) has a higher volatility of 16.25% compared to Waste Management, Inc. (WM) at 6.13%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH | WM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.25% | 6.13% | +10.12% |
Volatility (6M)Calculated over the trailing 6-month period | 27.73% | 14.08% | +13.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.20% | 19.03% | +14.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.47% | 18.62% | +16.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.82% | 19.54% | +13.28% |
Dividends
SMH vs. WM - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.18%, less than WM's 1.61% yield.
| 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% |
WM Waste Management, Inc. | 1.61% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Frequently Asked Questions
SMH and WM have a correlation of -0.32, 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 WM (6.13%). In terms of maximum drawdown, SMH dropped -84.96% vs WM's -77.85%.
SMH currently has the higher Sharpe Ratio (4.13 vs -0.32), 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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