SMN vs. SOXX

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraShort Basic Materials (SMN) and iShares Semiconductor ETF (SOXX).

SMN and SOXX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMN is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Basic Materials Index (-200%). It was launched on Jan 30, 2007. SOXX is a passively managed fund by iShares that tracks the performance of the PHLX Semiconductor Sector Index. It was launched on Jul 10, 2001. Both SMN and SOXX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SMN vs. SOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Basic Materials (SMN) and iShares Semiconductor ETF (SOXX). The values are adjusted to include any dividend payments, if applicable.

SMN vs. SOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMN ProShares UltraShort Basic Materials	-19.98%	-17.96%	7.37%	-20.23%	-3.03%	-45.83%	-55.75%	-33.63%	32.74%	-38.03%
SOXX iShares Semiconductor ETF	12.48%	40.74%	12.92%	67.12%	-35.09%	44.09%	52.72%	62.42%	-6.49%	39.79%

Returns By Period

In the year-to-date period, SMN achieves a -19.98% return, which is significantly lower than SOXX's 12.48% return. Over the past 10 years, SMN has underperformed SOXX with an annualized return of -25.70%, while SOXX has yielded a comparatively higher 28.39% annualized return.

SMN

• 1D: -2.24%
• 1M: 10.22%
• YTD: -19.98%
• 6M: -23.52%
• 1Y: -30.96%
• 3Y*: -14.19%
• 5Y*: -17.24%
• 10Y*: -25.70%

SOXX

• 1D: 3.01%
• 1M: -3.78%
• YTD: 12.48%
• 6M: 22.76%
• 1Y: 80.97%
• 3Y*: 32.61%
• 5Y*: 19.19%
• 10Y*: 28.39%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SMN vs. SOXX - Expense Ratio Comparison

SMN has a 0.95% expense ratio, which is higher than SOXX's 0.34% expense ratio.

SMN

ProShares UltraShort Basic Materials

SOXX

iShares Semiconductor ETF

Return for Risk

SMN vs. SOXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SMN

SMN Risk / Return Rank: 3
SMN Sharpe Ratio Rank: 2
SMN Sortino Ratio Rank: 2
SMN Omega Ratio Rank: 2
SMN Calmar Ratio Rank: 3
SMN Martin Ratio Rank: 5

SOXX

SOXX Risk / Return Rank: 92
SOXX Sharpe Ratio Rank: 90
SOXX Sortino Ratio Rank: 90
SOXX Omega Ratio Rank: 89
SOXX Calmar Ratio Rank: 96
SOXX Martin Ratio Rank: 95

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.

SMN vs. SOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Basic Materials (SMN) 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.

	SMN	SOXX	Difference
Sharpe ratio Return per unit of total volatility	-0.73	2.03	-2.76
Sortino ratio Return per unit of downside risk	-0.88	2.63	-3.51
Omega ratio Gain probability vs. loss probability	0.89	1.38	-0.49
Calmar ratio Return relative to maximum drawdown	-0.58	4.44	-5.02
Martin ratio Return relative to average drawdown	-0.89	16.46	-17.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMN vs. SOXX - Sharpe Ratio Comparison

The current SMN Sharpe Ratio is -0.73, which is lower than the SOXX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of SMN and SOXX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMN	SOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.73	2.03	-2.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.44	0.54	-0.98
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.60	0.86	-1.46
Sharpe Ratio (All Time) Calculated using the full available price history	-0.54	0.37	-0.91

Correlation

The correlation between SMN and SOXX is -0.61. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SMN vs. SOXX - Dividend Comparison

SMN's dividend yield for the trailing twelve months is around 4.39%, more than SOXX's 0.49% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMN ProShares UltraShort Basic Materials	4.39%	4.08%	5.02%	4.54%	0.42%	0.00%	0.00%	0.72%	0.06%	0.00%	0.00%	0.00%
SOXX iShares Semiconductor ETF	0.49%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%

Drawdowns

SMN vs. SOXX - Drawdown Comparison

The maximum SMN drawdown since its inception was -99.92%, which is greater than SOXX's maximum drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for SMN and SOXX.

Drawdown Indicators

	SMN	SOXX	Difference
Max Drawdown Largest peak-to-trough decline	-99.92%	-70.21%	-29.71%
Max Drawdown (1Y) Largest decline over 1 year	-53.71%	-18.27%	-35.44%
Max Drawdown (5Y) Largest decline over 5 years	-66.05%	-45.75%	-20.30%
Max Drawdown (10Y) Largest decline over 10 years	-95.64%	-45.75%	-49.89%
Current Drawdown Current decline from peak	-99.91%	-7.95%	-91.96%
Average Drawdown Average peak-to-trough decline	-90.46%	-20.10%	-70.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.36%	4.92%	+30.44%

Volatility

SMN vs. SOXX - Volatility Comparison

ProShares UltraShort Basic Materials (SMN) and iShares Semiconductor ETF (SOXX) have volatilities of 12.33% and 12.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMN	SOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.33%	12.83%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	25.29%	26.41%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	42.56%	40.12%	+2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.58%	35.48%	+4.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.87%	32.98%	+9.89%