SPG vs. SMH
SPG (Simon Property Group, Inc.) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, SPG returned 5.39%/yr vs 37.68%/yr for SMH. At a 0.34 correlation, their price movements are largely independent.
Performance
SPG vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, SPG achieves a 11.23% return, which is significantly lower than SMH's 77.13% return. Over the past 10 years, SPG has underperformed SMH with an annualized return of 5.39%, while SMH has yielded a comparatively higher 37.68% annualized return.
SPG
- 1D
- 0.01%
- 1M
- 1.01%
- YTD
- 11.23%
- 6M
- 14.33%
- 1Y
- 32.08%
- 3Y*
- 30.83%
- 5Y*
- 14.96%
- 10Y*
- 5.39%
SMH
- 1D
- 0.90%
- 1M
- 25.87%
- YTD
- 77.13%
- 6M
- 75.61%
- 1Y
- 157.20%
- 3Y*
- 64.17%
- 5Y*
- 39.21%
- 10Y*
- 37.68%
SPG vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPG Simon Property Group, Inc. | 11.23% | 12.94% | 26.92% | 29.24% | -21.91% | 95.72% | -38.64% | -6.74% | 2.55% | 0.98% |
SMH VanEck Semiconductor ETF | 77.13% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Correlation
The correlation between SPG and SMH is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2000 | 0.34 |
Over the past year, the correlation between SPG and SMH has dropped to 0.06 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.
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Return for Risk
SPG vs. SMH — Risk / Return Rank
SPG
SMH
SPG vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simon Property Group, Inc. (SPG) and VanEck Semiconductor ETF (SMH). 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.
| SPG | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.42 | ||
| Sortino ratioReturn per unit of downside risk | -2.65 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.72 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 10.59 | -7.80 |
| Martin ratioReturn relative to average drawdown | 10.06 | 40.63 | -30.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPG | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 5.19 | -3.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 1.13 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 1.16 | -1.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.34 | +0.05 |
Drawdowns
SPG vs. SMH - Drawdown Comparison
The maximum SPG drawdown since its inception was -77.00%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for SPG and SMH.
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Drawdown Indicators
| SPG | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.00% | -84.96% | +7.96% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -14.93% | +3.39% |
Max Drawdown (3Y)Largest decline over 3 years | -24.32% | -35.74% | +11.42% |
Max Drawdown (5Y)Largest decline over 5 years | -45.84% | -45.30% | -0.54% |
Max Drawdown (10Y)Largest decline over 10 years | -77.00% | -45.30% | -31.70% |
Current DrawdownCurrent decline from peak | -1.93% | 0.00% | -1.93% |
Average DrawdownAverage peak-to-trough decline | -13.85% | -41.09% | +27.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 3.89% | -0.69% |
Volatility
SPG vs. SMH - Volatility Comparison
The current volatility for Simon Property Group, Inc. (SPG) is 5.45%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.47%. This indicates that SPG experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPG | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 11.47% | -6.02% |
Volatility (6M)Calculated over the trailing 6-month period | 13.61% | 24.29% | -10.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.25% | 30.56% | -12.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.50% | 35.01% | -8.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.06% | 32.57% | +4.49% |
Dividends
SPG vs. SMH - Dividend Comparison
SPG's dividend yield for the trailing twelve months is around 4.25%, more than SMH's 0.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 0.17% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
SPG Simon Property Group, Inc. | 4.25% | 4.62% | 4.70% | 5.22% | 5.87% | 3.66% | 7.04% | 5.57% | 4.70% | 4.16% | 3.66% | 3.11% |
Frequently Asked Questions
SPG and SMH have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMH has higher volatility (11.47%) compared to SPG (5.45%). In terms of maximum drawdown, SPG dropped -77.00% vs SMH's -84.96%.
SMH currently has the higher Sharpe Ratio (5.19 vs 1.77), 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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