THRO vs. SOXX

Last updated Apr 1, 2026

Compare and contrast key facts about iShares U.S. Thematic Rotation Active ETF (THRO) and iShares Semiconductor ETF (SOXX).

THRO and SOXX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. THRO is an actively managed fund by iShares. It was launched on Dec 14, 2021. 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.

Performance

THRO vs. SOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Thematic Rotation Active ETF (THRO) and iShares Semiconductor ETF (SOXX). The values are adjusted to include any dividend payments, if applicable.

THRO vs. SOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
THRO iShares U.S. Thematic Rotation Active ETF	-6.03%	15.04%	32.03%	24.40%	-17.85%	2.14%
SOXX iShares Semiconductor ETF	9.20%	40.74%	12.92%	67.12%	-35.09%	4.94%

Returns By Period

In the year-to-date period, THRO achieves a -6.03% return, which is significantly lower than SOXX's 9.20% return.

THRO

• 1D: 3.19%
• 1M: -5.19%
• YTD: -6.03%
• 6M: -4.26%
• 1Y: 14.50%
• 3Y*: 17.79%
• 5Y*: —
• 10Y*: —

SOXX

• 1D: 6.09%
• 1M: -6.65%
• YTD: 9.20%
• 6M: 21.48%
• 1Y: 75.78%
• 3Y*: 31.31%
• 5Y*: 18.49%
• 10Y*: 28.01%

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

THRO vs. SOXX - Expense Ratio Comparison

THRO has a 0.60% expense ratio, which is higher than SOXX's 0.34% expense ratio.

THRO

iShares U.S. Thematic Rotation Active ETF

SOXX

iShares Semiconductor ETF

Return for Risk

THRO vs. SOXX — Risk / Return Rank

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

THRO

THRO Risk / Return Rank: 52
THRO Sharpe Ratio Rank: 46
THRO Sortino Ratio Rank: 49
THRO Omega Ratio Rank: 49
THRO Calmar Ratio Rank: 57
THRO Martin Ratio Rank: 58

SOXX

SOXX Risk / Return Rank: 92
SOXX Sharpe Ratio Rank: 90
SOXX Sortino Ratio Rank: 91
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.

THRO vs. SOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Thematic Rotation Active ETF (THRO) 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.

	THRO	SOXX	Difference
Sharpe ratio Return per unit of total volatility	0.80	1.90	-1.10
Sortino ratio Return per unit of downside risk	1.27	2.51	-1.24
Omega ratio Gain probability vs. loss probability	1.18	1.36	-0.18
Calmar ratio Return relative to maximum drawdown	1.38	4.12	-2.74
Martin ratio Return relative to average drawdown	5.51	15.37	-9.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THRO vs. SOXX - Sharpe Ratio Comparison

The current THRO Sharpe Ratio is 0.80, which is lower than the SOXX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of THRO 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

	THRO	SOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	1.90	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.52	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.37	+0.15

Correlation

The correlation between THRO and SOXX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

THRO vs. SOXX - Dividend Comparison

THRO's dividend yield for the trailing twelve months is around 0.19%, less than SOXX's 0.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
THRO iShares U.S. Thematic Rotation Active ETF	0.19%	0.15%	0.73%	0.55%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXX iShares Semiconductor ETF	0.51%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%

Drawdowns

THRO vs. SOXX - Drawdown Comparison

The maximum THRO drawdown since its inception was -26.54%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for THRO and SOXX.

Drawdown Indicators

	THRO	SOXX	Difference
Max Drawdown Largest peak-to-trough decline	-26.54%	-70.21%	+43.67%
Max Drawdown (1Y) Largest decline over 1 year	-10.97%	-18.27%	+7.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-45.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.75%	—
Current Drawdown Current decline from peak	-8.03%	-10.64%	+2.61%
Average Drawdown Average peak-to-trough decline	-6.92%	-20.10%	+13.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	4.90%	-2.16%

Volatility

THRO vs. SOXX - Volatility Comparison

The current volatility for iShares U.S. Thematic Rotation Active ETF (THRO) is 5.66%, while iShares Semiconductor ETF (SOXX) has a volatility of 13.41%. This indicates that THRO experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THRO	SOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.66%	13.41%	-7.75%
Volatility (6M) Calculated over the trailing 6-month period	10.33%	26.27%	-15.94%
Volatility (1Y) Calculated over the trailing 1-year period	18.25%	40.03%	-21.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.89%	35.49%	-16.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	32.98%	-14.09%