T vs. SMHX

Last updated Jun 4, 2026

T (AT&T Inc.) is a stock, while SMHX (VanEck Fabless Semiconductor ETF) is Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index. Over the past year, T returned -12.10% vs 139.42% for SMHX. At a correlation of -0.22, they often move in opposite directions.

Performance

T vs. SMHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AT&T Inc. (T) and VanEck Fabless Semiconductor ETF (SMHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, T achieves a -3.08% return, which is significantly lower than SMHX's 78.44% return.

T

• 1D: -4.42%
• 1M: -9.77%
• YTD: -3.08%
• 6M: -4.92%
• 1Y: -12.10%
• 3Y*: 22.12%
• 5Y*: 7.39%
• 10Y*: 3.62%

SMHX

• 1D: 0.94%
• 1M: 33.64%
• YTD: 78.44%
• 6M: 72.62%
• 1Y: 139.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

T vs. SMHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
T AT&T Inc.	-3.08%	13.97%	16.36%
SMHX VanEck Fabless Semiconductor ETF	78.44%	30.00%	17.76%

Correlation

The correlation between T and SMHX is -0.30, 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	-0.30
Correlation (All Time) Calculated using the full available price history since Aug 29, 2024	-0.22

Return for Risk

T vs. SMHX — Risk / Return Rank

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

T

T Risk / Return Rank: 17
T Sharpe Ratio Rank: 17
T Sortino Ratio Rank: 16
T Omega Ratio Rank: 17
T Calmar Ratio Rank: 19
T Martin Ratio Rank: 14

SMHX

SMHX Risk / Return Rank: 93
SMHX Sharpe Ratio Rank: 96
SMHX Sortino Ratio Rank: 92
SMHX Omega Ratio Rank: 90
SMHX Calmar Ratio Rank: 95
SMHX Martin Ratio Rank: 92

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.

T vs. SMHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AT&T Inc. (T) and VanEck Fabless Semiconductor ETF (SMHX). 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.

	T	SMHX	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	4.30	-4.86
Sortino ratio: Return per unit of downside risk	-0.67	4.50	-5.17
Omega ratio: Gain probability vs. loss probability	0.92	1.59	-0.67
Calmar ratio: Return relative to maximum drawdown	-0.59	8.22	-8.81
Martin ratio: Return relative to average drawdown	-1.20	23.13	-24.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

T vs. SMHX - Sharpe Ratio Comparison

The current T Sharpe Ratio is -0.56, which is lower than the SMHX Sharpe Ratio of 4.30. The chart below compares the historical Sharpe Ratios of T and SMHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	T	SMHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.56	4.30	-4.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	1.94	-1.56

Drawdowns

T vs. SMHX - Drawdown Comparison

The maximum T drawdown since its inception was -64.15%, which is greater than SMHX's maximum drawdown of -38.53%. Use the drawdown chart below to compare losses from any high point for T and SMHX.

Drawdown Indicators

	T	SMHX	Difference
Max Drawdown Largest peak-to-trough decline	-64.15%	-38.53%	-25.62%
Max Drawdown (1Y) Largest decline over 1 year	-20.60%	-17.06%	-3.54%
Max Drawdown (3Y) Largest decline over 3 years	-20.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.01%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.35%	—	—
Current Drawdown Current decline from peak	-18.23%	0.00%	-18.23%
Average Drawdown Average peak-to-trough decline	-15.72%	-7.33%	-8.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.08%	6.05%	+4.03%

Volatility

T vs. SMHX - Volatility Comparison

The current volatility for AT&T Inc. (T) is 6.96%, while VanEck Fabless Semiconductor ETF (SMHX) has a volatility of 11.81%. This indicates that T experiences smaller price fluctuations and is considered to be less risky than SMHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	T	SMHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	11.81%	-4.85%
Volatility (6M) Calculated over the trailing 6-month period	17.27%	25.06%	-7.79%
Volatility (1Y) Calculated over the trailing 1-year period	21.86%	32.69%	-10.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.92%	39.97%	-16.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.69%	39.97%	-16.28%

Dividends

T vs. SMHX - Dividend Comparison

T's dividend yield for the trailing twelve months is around 4.71%, more than SMHX's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMHX VanEck Fabless Semiconductor ETF	0.01%	0.02%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
T AT&T Inc.	4.71%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Frequently Asked Questions

Can I hold both T and SMHX in my portfolio?

T and SMHX have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, T or SMHX?

SMHX has higher volatility (11.81%) compared to T (6.96%). In terms of maximum drawdown, T dropped -64.15% vs SMHX's -38.53%.

Which has better risk-adjusted returns?

SMHX currently has the higher Sharpe Ratio (4.30 vs -0.56), 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.