TDY vs. SMH

Last updated Aug 4, 2026

TDY (Teledyne Technologies Incorporated) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, TDY returned 20.21%/yr vs 33.99%/yr for SMH. Their 0.46 correlation means their historical movements had little consistent relationship.

Performance

TDY vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Teledyne Technologies Incorporated (TDY) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDY achieves a 31.29% return, which is significantly lower than SMH's 51.46% return. Over the past 10 years, TDY has underperformed SMH with an annualized return of 20.21%, while SMH has yielded a comparatively higher 33.99% annualized return.

TDY

• 1D: 2.29%
• 1M: 2.83%
• 6M: 9.35%
• YTD: 31.29%
• 1Y: 23.11%
• 3Y*: 20.92%
• 5Y*: 8.14%
• 10Y*: 20.21%
• ALL TIME*: 17.81%

SMH

• 1D: 0.91%
• 1M: -7.91%
• 6M: 33.70%
• YTD: 51.46%
• 1Y: 92.69%
• 3Y*: 53.04%
• 5Y*: 32.99%
• 10Y*: 33.99%
• ALL TIME*: 11.09%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SMH VanEck Semiconductor ETF	$8.29B	$7.23B	$7.12B
TDY Teledyne Technologies Incorporated	$350.70M	$277.35M	$230.04M

TDY vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TDY Teledyne Technologies Incorporated	31.29%	10.04%	4.00%	11.60%	-8.46%	11.46%	13.11%	67.35%	14.31%	47.28%
SMH VanEck Semiconductor ETF	51.46%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between TDY and SMH is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (3Y) Balances recent behavior with more history.	0.39
Correlation (5Y) Shows whether the relationship held over a longer period.	0.48
Correlation (10Y) Provides a long-term view across more market conditions.	0.45
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000	0.46

Return for Risk

TDY vs. SMH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TDY

TDY Risk / Return Rank: 70
TDY Sharpe Ratio Rank: 73
TDY Sortino Ratio Rank: 69
TDY Omega Ratio Rank: 66
TDY Calmar Ratio Rank: 70
TDY Martin Ratio Rank: 69

SMH

SMH Risk / Return Rank: 88
SMH Sharpe Ratio Rank: 92
SMH Sortino Ratio Rank: 84
SMH Omega Ratio Rank: 85
SMH Calmar Ratio Rank: 89
SMH Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TDY vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Teledyne Technologies Incorporated (TDY) 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.

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.

	TDY	SMH	Difference
Sharpe ratio: Return per unit of total volatility	0.89	2.43	-1.53
Sortino ratio: Return per unit of downside risk	1.48	2.80	-1.32
Omega ratio: Gain probability vs. loss probability	1.17	1.37	-0.20
Calmar ratio: Return relative to maximum drawdown	1.26	3.79	-2.52
Martin ratio: Return relative to average drawdown	2.75	15.18	-12.44

TDY vs. SMH - Sharpe Ratio Comparison

The current TDY Sharpe Ratio is 0.89, which is lower than the SMH Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of TDY and SMH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TDY vs. SMH - Drawdown Comparison

The maximum TDY drawdown since its inception was -66.17%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for TDY and SMH.

Drawdown Indicators

	TDY	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-66.17%	-84.96%	+18.79%
Max Drawdown (1Y) Largest decline over 1 year	-18.39%	-24.62%	+6.23%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-35.74%	+16.97%
Max Drawdown (5Y) Largest decline over 5 years	-32.24%	-45.30%	+13.06%
Max Drawdown (10Y) Largest decline over 10 years	-48.95%	-45.30%	-3.65%
Current Drawdown Current decline from peak	-2.62%	-18.46%	+15.84%
Average Drawdown Average peak-to-trough decline	-17.38%	-40.89%	+23.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.43%	6.13%	+2.30%

Volatility

TDY vs. SMH - Volatility Comparison

The current volatility for Teledyne Technologies Incorporated (TDY) is 6.98%, while VanEck Semiconductor ETF (SMH) has a volatility of 14.15%. This indicates that TDY 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.

Volatility by Period

	TDY	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.98%	14.15%	-7.17%
Volatility (6M) Calculated over the trailing 6-month period	19.19%	32.94%	-13.75%
Volatility (1Y) Calculated over the trailing 1-year period	26.04%	38.50%	-12.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.43%	36.51%	-12.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.67%	33.33%	-5.66%

Dividends

TDY vs. SMH - Dividend Comparison

TDY has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMH VanEck Semiconductor ETF	0.20%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%
TDY Teledyne Technologies Incorporated	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDY and SMH in my portfolio?

TDY and SMH have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDY or SMH?

SMH has higher volatility (14.15%) compared to TDY (6.98%). In terms of maximum drawdown, TDY dropped -66.17% vs SMH's -84.96%.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (2.43 vs 0.89), 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.