PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SPY.AX vs. SEMI.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPY.AX vs. SEMI.AX

Last updated Jul 16, 2026
Documentation

SPY.AX (SPDR ETFs Australia - State Stree SPDR S&P 500 ETF) and SEMI.AX (Global X Semiconductor ETF) are both Global Equities funds - SPY.AX tracks the SPDR Index while SEMI.AX tracks the Global X Semiconductor Index. Both are passively managed. Over the past 3 years, SPY.AX returned 19.36%/yr vs 56.20%/yr for SEMI.AX. A 0.67 correlation means they provide meaningful diversification when combined.

Performance

SPY.AX vs. SEMI.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in SPDR ETFs Australia - State Stree SPDR S&P 500 ETF (SPY.AX) and Global X Semiconductor ETF (SEMI.AX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, SPY.AX achieves a 5.81% return, which is significantly lower than SEMI.AX's 73.20% return.

SPY.AX

1D
0.05%
1M
2.03%
6M
4.83%
YTD
5.81%
1Y
14.05%
3Y*
19.36%
5Y*
14.45%
10Y*
15.99%

SEMI.AX

1D
-5.18%
1M
-8.58%
6M
56.90%
YTD
73.20%
1Y
121.94%
3Y*
56.20%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPY.AX vs. SEMI.AX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
SPY.AX
SPDR ETFs Australia - State Stree SPDR S&P 500 ETF		5.81%9.61%37.31%25.27%-12.58%6.81%
SEMI.AX
Global X Semiconductor ETF		73.20%43.80%35.17%69.12%-30.92%15.60%

Correlation

The correlation between SPY.AX and SEMI.AX is 0.54, 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

0.54

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

0.62

Correlation (All Time)
Calculated using the full available price history since Aug 27, 2021

0.67

The correlation between SPY.AX and SEMI.AX shifts across timeframes, from 0.54 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

SPDR ETFs Australia - State Stree SPDR S&P 500 ETF

Global X Semiconductor ETF

Return for Risk

SPY.AX vs. SEMI.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPY.AX
SPY.AX Risk / Return Rank: 4040
Overall Rank
SPY.AX Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
SPY.AX Sortino Ratio Rank: 4545
Sortino Ratio Rank
SPY.AX Omega Ratio Rank: 4747
Omega Ratio Rank
SPY.AX Calmar Ratio Rank: 3030
Calmar Ratio Rank
SPY.AX Martin Ratio Rank: 3030
Martin Ratio Rank
SEMI.AX
SEMI.AX Risk / Return Rank: 9595
Overall Rank
SEMI.AX Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
SEMI.AX Sortino Ratio Rank: 9292
Sortino Ratio Rank
SEMI.AX Omega Ratio Rank: 9292
Omega Ratio Rank
SEMI.AX Calmar Ratio Rank: 9797
Calmar Ratio Rank
SEMI.AX Martin Ratio Rank: 9696
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.

SPY.AX vs. SEMI.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ETFs Australia - State Stree SPDR S&P 500 ETF (SPY.AX) and Global X Semiconductor ETF (SEMI.AX). 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.

SPY.AXSEMI.AXDifference
Sharpe ratioReturn per unit of total volatility
1.39
3.30

-1.91

Sortino ratioReturn per unit of downside risk
1.92
3.70

-1.78

Omega ratioGain probability vs. loss probability

1.25

1.50

-0.25

Calmar ratioReturn relative to maximum drawdown

1.26

8.01

-6.75

Martin ratioReturn relative to average drawdown

3.39

25.91

-22.52

SPY.AX vs. SEMI.AX - Sharpe Ratio Comparison

The current SPY.AX Sharpe Ratio is 1.39, which is lower than the SEMI.AX Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of SPY.AX and SEMI.AX, 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

SPY.AX vs. SEMI.AX - Drawdown Comparison

The maximum SPY.AX drawdown since its inception was -23.49%, smaller than the maximum SEMI.AX drawdown of -38.85%. Use the drawdown chart below to compare losses from any high point for SPY.AX and SEMI.AX.

Loading charts...

Drawdown Indicators

SPY.AXSEMI.AXDifference

Max Drawdown

Largest peak-to-trough decline

-23.49%

-38.85%

+15.36%

Max Drawdown (1Y)

Largest decline over 1 year

-11.39%

-14.32%

+2.93%

Max Drawdown (3Y)

Largest decline over 3 years

-17.35%

-32.53%

+15.18%

Max Drawdown (5Y)

Largest decline over 5 years

-20.45%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-23.49%

—

—

Current Drawdown

Current decline from peak

-0.35%

-14.32%

+13.97%

Average Drawdown

Average peak-to-trough decline

-3.92%

-10.86%

+6.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.26%

4.48%

-0.22%

Volatility

SPY.AX vs. SEMI.AX - Volatility Comparison

The current volatility for SPDR ETFs Australia - State Stree SPDR S&P 500 ETF (SPY.AX) is 2.44%, while Global X Semiconductor ETF (SEMI.AX) has a volatility of 15.14%. This indicates that SPY.AX experiences smaller price fluctuations and is considered to be less risky than SEMI.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

SPY.AXSEMI.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.44%

15.14%

-12.70%

Volatility (6M)

Calculated over the trailing 6-month period

7.79%

29.63%

-21.84%

Volatility (1Y)

Calculated over the trailing 1-year period

10.35%

34.76%

-24.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.94%

31.62%

-17.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.76%

31.62%

-16.86%

Dividends

SPY.AX vs. SEMI.AX - Dividend Comparison

SPY.AX's dividend yield for the trailing twelve months is around 1.00%, less than SEMI.AX's 7.62% yield.

PositionTTM20252024202320222021202020192018201720162015
SEMI.AX
Global X Semiconductor ETF		7.62%5.60%3.44%0.54%0.96%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPY.AX
SPDR ETFs Australia - State Stree SPDR S&P 500 ETF		1.00%1.04%1.15%1.35%1.50%1.03%1.60%1.64%1.80%1.72%1.71%1.80%

Frequently Asked Questions

SPY.AX and SEMI.AX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPY.AX tracks SPDR Index, while SEMI.AX tracks Global X Semiconductor Index. They also come from different issuers: SPDR and Global X.

Portfolio Optimizer

Find the right allocation for SPY.AX and SEMI.AX

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