WAT vs. SOXX

Last updated Apr 2, 2026

Compare and contrast key facts about Waters Corporation (WAT) and iShares Semiconductor ETF (SOXX).

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

WAT vs. SOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Waters Corporation (WAT) and iShares Semiconductor ETF (SOXX). The values are adjusted to include any dividend payments, if applicable.

WAT vs. SOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAT Waters Corporation	-21.05%	2.39%	12.68%	-3.90%	-8.06%	50.59%	5.89%	23.85%	-2.35%	43.75%
SOXX iShares Semiconductor ETF	12.48%	40.74%	12.92%	67.12%	-35.09%	44.09%	52.72%	62.42%	-6.49%	39.79%

Returns By Period

In the year-to-date period, WAT achieves a -21.05% return, which is significantly lower than SOXX's 12.48% return. Over the past 10 years, WAT has underperformed SOXX with an annualized return of 8.44%, while SOXX has yielded a comparatively higher 28.39% annualized return.

WAT

• 1D: 0.70%
• 1M: -2.39%
• YTD: -21.05%
• 6M: -6.23%
• 1Y: -15.76%
• 3Y*: -1.06%
• 5Y*: 1.04%
• 10Y*: 8.44%

SOXX

• 1D: 3.01%
• 1M: -3.78%
• YTD: 12.48%
• 6M: 22.76%
• 1Y: 80.97%
• 3Y*: 32.61%
• 5Y*: 19.19%
• 10Y*: 28.39%

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

Return for Risk

WAT vs. SOXX — Risk / Return Rank

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

WAT

WAT Risk / Return Rank: 20
WAT Sharpe Ratio Rank: 22
WAT Sortino Ratio Rank: 22
WAT Omega Ratio Rank: 22
WAT Calmar Ratio Rank: 21
WAT Martin Ratio Rank: 15

SOXX

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

WAT vs. SOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Waters Corporation (WAT) 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.

	WAT	SOXX	Difference
Sharpe ratio Return per unit of total volatility	-0.41	2.03	-2.44
Sortino ratio Return per unit of downside risk	-0.33	2.63	-2.96
Omega ratio Gain probability vs. loss probability	0.95	1.38	-0.42
Calmar ratio Return relative to maximum drawdown	-0.59	4.44	-5.03
Martin ratio Return relative to average drawdown	-1.30	16.46	-17.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WAT vs. SOXX - Sharpe Ratio Comparison

The current WAT Sharpe Ratio is -0.41, which is lower than the SOXX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of WAT 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

	WAT	SOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.41	2.03	-2.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	0.54	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.86	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.37	+0.05

Correlation

The correlation between WAT and SOXX is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

WAT vs. SOXX - Dividend Comparison

WAT has not paid dividends to shareholders, while SOXX's dividend yield for the trailing twelve months is around 0.49%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WAT Waters Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXX iShares Semiconductor ETF	0.49%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%

Drawdowns

WAT vs. SOXX - Drawdown Comparison

The maximum WAT drawdown since its inception was -80.12%, which is greater than SOXX's maximum drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for WAT and SOXX.

Drawdown Indicators

	WAT	SOXX	Difference
Max Drawdown Largest peak-to-trough decline	-80.12%	-70.21%	-9.91%
Max Drawdown (1Y) Largest decline over 1 year	-31.32%	-18.27%	-13.05%
Max Drawdown (5Y) Largest decline over 5 years	-44.27%	-45.75%	+1.48%
Max Drawdown (10Y) Largest decline over 10 years	-44.27%	-45.75%	+1.48%
Current Drawdown Current decline from peak	-29.39%	-7.95%	-21.44%
Average Drawdown Average peak-to-trough decline	-23.99%	-20.10%	-3.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.32%	4.92%	+9.40%

Volatility

WAT vs. SOXX - Volatility Comparison

The current volatility for Waters Corporation (WAT) is 9.43%, while iShares Semiconductor ETF (SOXX) has a volatility of 12.83%. This indicates that WAT 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

	WAT	SOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.43%	12.83%	-3.40%
Volatility (6M) Calculated over the trailing 6-month period	24.86%	26.41%	-1.55%
Volatility (1Y) Calculated over the trailing 1-year period	38.42%	40.12%	-1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.49%	35.48%	-2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.13%	32.98%	-2.85%