PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SMLF vs. SOXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMLF vs. SOXX

Last updated Jun 24, 2026

SMLF (iShares MSCI USA Small-Cap Multifactor ETF) and SOXX (iShares Semiconductor ETF) are both exchange-traded funds - SMLF is a Small Cap Blend Equities fund tracking the MSCI USA Small Cap Diversified Multi-Factor, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past 10 years, SMLF returned 12.68%/yr vs 36.08%/yr for SOXX. A 0.64 correlation means they provide meaningful diversification when combined. SMLF charges 0.30%/yr vs 0.34%/yr for SOXX.

Performance

SMLF vs. SOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Small-Cap Multifactor ETF (SMLF) and iShares Semiconductor ETF (SOXX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, SMLF achieves a 16.28% return, which is significantly lower than SOXX's 100.58% return. Over the past 10 years, SMLF has underperformed SOXX with an annualized return of 12.68%, while SOXX has yielded a comparatively higher 36.08% annualized return.

SMLF

1D
-0.85%
1M
3.41%
YTD
16.28%
6M
14.19%
1Y
32.00%
3Y*
20.44%
5Y*
11.09%
10Y*
12.68%

SOXX

1D
-7.88%
1M
12.35%
YTD
100.58%
6M
98.07%
1Y
167.63%
3Y*
56.18%
5Y*
33.69%
10Y*
36.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMLF vs. SOXX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SMLF
iShares MSCI USA Small-Cap Multifactor ETF		16.28%12.30%16.33%19.99%-12.19%26.53%8.38%21.56%-8.42%12.70%
SOXX
iShares Semiconductor ETF		100.58%40.74%12.92%67.12%-35.09%44.09%52.72%62.42%-6.49%39.79%

Correlation

The correlation between SMLF and SOXX is 0.63, 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

0.63

Correlation (3Y)
Calculated over the trailing 3-year period

0.64

Correlation (5Y)
Calculated over the trailing 5-year period

0.70

Correlation (10Y)
Calculated over the trailing 10-year period

0.67

Correlation (All Time)
Calculated using the full available price history since Apr 30, 2015

0.64

The correlation between SMLF and SOXX has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

SMLF vs. SOXX - Sectors Allocation Comparison

Sectors
SMLF
SOXX

Industrials

19.5%

-

Technology

19.1%
100.0%

Financial Services

14.3%

-

Healthcare

12.9%

-

Consumer Cyclical

11.4%

-

Real Estate

5.6%

-

Basic Materials

4.5%

-

Energy

4.3%

-

Consumer Defensive

3.3%

-

Communication Services

3.2%

-

Utilities

2.0%

-

Industrials

SMLF
19.5%
SOXX

-

Technology

SMLF
19.1%
SOXX
100.0%

Financial Services

SMLF
14.3%
SOXX

-

Healthcare

SMLF
12.9%
SOXX

-

Consumer Cyclical

SMLF
11.4%
SOXX

-

Real Estate

SMLF
5.6%
SOXX

-

Basic Materials

SMLF
4.5%
SOXX

-

Energy

SMLF
4.3%
SOXX

-

Consumer Defensive

SMLF
3.3%
SOXX

-

Communication Services

SMLF
3.2%
SOXX

-

Utilities

SMLF
2.0%
SOXX

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI USA Small-Cap Multifactor ETF

iShares Semiconductor ETF

Often compared with SMLF:
SMLF vs. FSMDSMLF vs. SMLVSMLF vs. IWMSMLF vs. SMMVSMLF vs. VBRSMLF vs. GSSCSMLF vs. FZIPX
Often compared with SOXX:
SOXX vs. SMHSOXX vs. QQQSOXX vs. SOXLSOXX vs. SOXQSOXX vs. FSELXSOXX vs. VGTSOXX vs. VOO

Return for Risk

SMLF vs. SOXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SMLF
SMLF Risk / Return Rank: 6262
Overall Rank
SMLF Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
SMLF Sortino Ratio Rank: 5656
Sortino Ratio Rank
SMLF Omega Ratio Rank: 5151
Omega Ratio Rank
SMLF Calmar Ratio Rank: 7676
Calmar Ratio Rank
SMLF Martin Ratio Rank: 7272
Martin Ratio Rank
SOXX
SOXX Risk / Return Rank: 9595
Overall Rank
SOXX Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
SOXX Sortino Ratio Rank: 9292
Sortino Ratio Rank
SOXX Omega Ratio Rank: 9292
Omega Ratio Rank
SOXX Calmar Ratio Rank: 9797
Calmar Ratio Rank
SOXX Martin Ratio Rank: 9797
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SMLF vs. SOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small-Cap Multifactor ETF (SMLF) and iShares Semiconductor ETF (SOXX). 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.

SMLFSOXXDifference
Sharpe ratioReturn per unit of total volatility
1.83
4.28

-2.45

Sortino ratioReturn per unit of downside risk
2.56
4.15

-1.58

Omega ratioGain probability vs. loss probability

1.31

1.60

-0.29

Calmar ratioReturn relative to maximum drawdown

3.69

10.70

-7.01

Martin ratioReturn relative to average drawdown

12.66

38.46

-25.80

SMLF vs. SOXX - Sharpe Ratio Comparison

The current SMLF Sharpe Ratio is 1.83, which is lower than the SOXX Sharpe Ratio of 4.28. The chart below compares the historical Sharpe Ratios of SMLF and SOXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

SMLF vs. SOXX - Drawdown Comparison

The maximum SMLF drawdown since its inception was -41.89%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for SMLF and SOXX.

Loading charts...

Drawdown Indicators

SMLFSOXXDifference

Max Drawdown

Largest peak-to-trough decline

-41.89%

-70.21%

+28.32%

Max Drawdown (1Y)

Largest decline over 1 year

-8.71%

-15.77%

+7.06%

Max Drawdown (3Y)

Largest decline over 3 years

-26.28%

-41.36%

+15.08%

Max Drawdown (5Y)

Largest decline over 5 years

-26.28%

-45.75%

+19.47%

Max Drawdown (10Y)

Largest decline over 10 years

-41.89%

-45.75%

+3.86%

Current Drawdown

Current decline from peak

-0.85%

-7.88%

+7.03%

Average Drawdown

Average peak-to-trough decline

-6.57%

-19.94%

+13.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.53%

4.38%

-1.85%

Volatility

SMLF vs. SOXX - Volatility Comparison

The current volatility for iShares MSCI USA Small-Cap Multifactor ETF (SMLF) is 5.35%, while iShares Semiconductor ETF (SOXX) has a volatility of 22.75%. This indicates that SMLF experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

SMLFSOXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.35%

22.75%

-17.40%

Volatility (6M)

Calculated over the trailing 6-month period

12.92%

33.44%

-20.52%

Volatility (1Y)

Calculated over the trailing 1-year period

17.61%

39.42%

-21.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.12%

37.21%

-16.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.81%

34.00%

-12.19%

SMLF vs. SOXX - Expense Ratio Comparison

SMLF has a 0.30% expense ratio, which is lower than SOXX's 0.34% expense ratio.

Dividends

SMLF vs. SOXX - Dividend Comparison

SMLF's dividend yield for the trailing twelve months is around 1.02%, more than SOXX's 0.24% yield.

PositionTTM20252024202320222021202020192018201720162015
SMLF
iShares MSCI USA Small-Cap Multifactor ETF		1.02%1.14%1.33%1.13%1.23%1.07%1.33%1.39%1.17%0.93%0.78%0.79%
SOXX
iShares Semiconductor ETF		0.24%0.57%0.67%0.78%1.26%0.64%0.81%1.23%1.37%0.90%1.08%1.29%

Frequently Asked Questions

SMLF and SOXX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SOXX has higher volatility (22.75%) compared to SMLF (5.35%). In terms of maximum drawdown, SMLF dropped -41.89% vs SOXX's -70.21%.

On 10-year performance, SOXX leads with 36.08% vs 12.68% for SMLF. On fees, SMLF is cheaper at 0.30% per year. On volatility, SMLF has been the lower-risk option at 5.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SOXX has performed better with a 36.08% return vs 12.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SMLF is cheaper with a 0.30% expense ratio, compared with 0.34% for SOXX.

SMLF has the higher dividend yield at 1.02%, compared with 0.24% for SOXX.

SMLF is categorized as Small Cap Blend Equities, while SOXX is Semiconductors. SMLF tracks MSCI USA Small Cap Diversified Multi-Factor, while SOXX tracks NYSE Semiconductor Index. Their fees differ too: 0.30% for SMLF and 0.34% for SOXX.

SOXX currently has the higher Sharpe Ratio (4.28 vs 1.83), 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.

Portfolio Optimizer

Find the right allocation for SMLF and SOXX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer