V vs. SMH

Last updated Jun 6, 2026

V (Visa Inc.) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, V returned 15.72%/yr vs 36.02%/yr for SMH. At a 0.47 correlation, their price movements are largely independent.

Performance

V vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Visa Inc. (V) 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, V achieves a -7.36% return, which is significantly lower than SMH's 58.19% return. Over the past 10 years, V has underperformed SMH with an annualized return of 15.72%, while SMH has yielded a comparatively higher 36.02% annualized return.

V

• 1D: 1.06%
• 1M: 1.71%
• YTD: -7.36%
• 6M: -1.91%
• 1Y: -11.08%
• 3Y*: 13.20%
• 5Y*: 7.86%
• 10Y*: 15.72%

SMH

• 1D: -9.22%
• 1M: 3.63%
• YTD: 58.19%
• 6M: 56.81%
• 1Y: 127.40%
• 3Y*: 58.39%
• 5Y*: 36.10%
• 10Y*: 36.02%

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

V vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
V Visa Inc.	-7.36%	11.76%	22.32%	26.31%	-3.40%	-0.31%	17.12%	43.33%	16.49%	47.18%
SMH VanEck Semiconductor ETF	58.19%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between V and SMH is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Mar 20, 2008	0.47

Over the past year, the correlation between V and SMH has dropped to 0.02 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.

Return for Risk

V vs. SMH — Risk / Return Rank

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

V

V Risk / Return Rank: 20
V Sharpe Ratio Rank: 20
V Sortino Ratio Rank: 18
V Omega Ratio Rank: 18
V Calmar Ratio Rank: 22
V Martin Ratio Rank: 21

SMH

SMH Risk / Return Rank: 94
SMH Sharpe Ratio Rank: 96
SMH Sortino Ratio Rank: 90
SMH Omega Ratio Rank: 92
SMH Calmar Ratio Rank: 96
SMH 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.

V vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Visa Inc. (V) 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.

	V	SMH	Difference
Sharpe ratio: Return per unit of total volatility	-0.50	4.00	-4.50
Sortino ratio: Return per unit of downside risk	-0.59	4.12	-4.71
Omega ratio: Gain probability vs. loss probability	0.93	1.59	-0.66
Calmar ratio: Return relative to maximum drawdown	-0.55	8.58	-9.13
Martin ratio: Return relative to average drawdown	-1.01	32.42	-33.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

V vs. SMH - Sharpe Ratio Comparison

The current V Sharpe Ratio is -0.50, which is lower than the SMH Sharpe Ratio of 4.00. The chart below compares the historical Sharpe Ratios of V 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.

Sharpe Ratios by Period

	V	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.50	4.00	-4.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	1.03	-0.68
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	1.11	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.32	+0.37

Drawdowns

V vs. SMH - Drawdown Comparison

The maximum V drawdown since its inception was -51.90%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for V and SMH.

Drawdown Indicators

	V	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-51.90%	-84.96%	+33.06%
Max Drawdown (1Y) Largest decline over 1 year	-20.38%	-14.93%	-5.45%
Max Drawdown (3Y) Largest decline over 3 years	-20.38%	-35.74%	+15.36%
Max Drawdown (5Y) Largest decline over 5 years	-28.60%	-45.30%	+16.70%
Max Drawdown (10Y) Largest decline over 10 years	-36.36%	-45.30%	+8.94%
Current Drawdown Current decline from peak	-12.64%	-10.69%	-1.95%
Average Drawdown Average peak-to-trough decline	-8.26%	-41.08%	+32.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.00%	3.94%	+7.06%

Volatility

V vs. SMH - Volatility Comparison

The current volatility for Visa Inc. (V) is 5.65%, while VanEck Semiconductor ETF (SMH) has a volatility of 14.88%. This indicates that V 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

	V	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	14.88%	-9.23%
Volatility (6M) Calculated over the trailing 6-month period	17.47%	26.35%	-8.88%
Volatility (1Y) Calculated over the trailing 1-year period	22.27%	32.03%	-9.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.79%	35.24%	-12.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	32.70%	-8.24%

Dividends

V vs. SMH - Dividend Comparison

V's dividend yield for the trailing twelve months is around 0.80%, more than SMH's 0.19% yield.

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%
V Visa Inc.	0.80%	0.70%	0.68%	0.72%	0.76%	0.62%	0.56%	0.56%	0.67%	0.61%	0.75%	0.64%

Frequently Asked Questions

Can I hold both V and SMH in my portfolio?

V and SMH have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, V or SMH?

SMH has higher volatility (14.88%) compared to V (5.65%). In terms of maximum drawdown, V dropped -51.90% vs SMH's -84.96%.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (4.00 vs -0.50), 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.