TMC vs. SMH
TMC (TMC the metals company Inc.) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 3 years, TMC returned 25.77%/yr vs 53.38%/yr for SMH. At a 0.28 correlation, their price movements are largely independent.
Performance
TMC vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, TMC achieves a -39.06% return, which is significantly lower than SMH's 57.98% return.
TMC
- 1D
- -8.52%
- 1M
- -27.55%
- 6M
- -49.05%
- YTD
- -39.06%
- 1Y
- -51.04%
- 3Y*
- 25.77%
- 5Y*
- —
- 10Y*
- —
SMH
- 1D
- -3.70%
- 1M
- -7.64%
- 6M
- 43.52%
- YTD
- 57.98%
- 1Y
- 97.28%
- 3Y*
- 53.38%
- 5Y*
- 36.57%
- 10Y*
- 35.15%
TMC vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TMC TMC the metals company Inc. | -39.06% | 450.89% | 1.82% | 42.86% | -62.98% | -81.18% |
SMH VanEck Semiconductor ETF | 57.98% | 49.17% | 39.10% | 73.38% | -33.53% | 14.88% |
Correlation
The correlation between TMC and SMH is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2021 | 0.28 |
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Return for Risk
TMC vs. SMH — Risk / Return Rank
TMC
SMH
TMC vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TMC the metals company Inc. (TMC) 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.
| TMC | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.19 | ||
| Sortino ratioReturn per unit of downside risk | -3.41 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.41 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 6.54 | -7.33 |
| Martin ratioReturn relative to average drawdown | -1.23 | 20.41 | -21.63 |
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Drawdowns
TMC vs. SMH - Drawdown Comparison
The maximum TMC drawdown since its inception was -95.58%, which is greater than SMH's maximum drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for TMC and SMH.
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Drawdown Indicators
| TMC | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.58% | -84.96% | -10.62% |
Max Drawdown (1Y)Largest decline over 1 year | -64.83% | -14.95% | -49.88% |
Max Drawdown (3Y)Largest decline over 3 years | -64.83% | -35.74% | -29.09% |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.30% | — |
Current DrawdownCurrent decline from peak | -69.80% | -14.95% | -54.85% |
Average DrawdownAverage peak-to-trough decline | -79.16% | -40.93% | -38.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.60% | 4.78% | +36.82% |
Volatility
TMC vs. SMH - Volatility Comparison
The current volatility for TMC the metals company Inc. (TMC) is 15.56%, while VanEck Semiconductor ETF (SMH) has a volatility of 17.01%. This indicates that TMC 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
| TMC | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.56% | 17.01% | -1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 63.84% | 31.61% | +32.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 93.88% | 36.97% | +56.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.45% | 36.21% | +76.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 112.45% | 33.16% | +79.29% |
Dividends
TMC vs. SMH - Dividend Comparison
TMC has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 0.19% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
TMC TMC the metals company Inc. | 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
TMC and SMH have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMH has higher volatility (17.01%) compared to TMC (15.56%). In terms of maximum drawdown, TMC dropped -95.58% vs SMH's -84.96%.
SMH currently has the higher Sharpe Ratio (2.65 vs -0.55), 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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