WAT vs. SOXX
WAT (Waters Corporation) is a stock, while SOXX (iShares Semiconductor ETF) is Semiconductors fund tracking the NYSE Semiconductor Index. Over the past 10 years, WAT returned 10.54%/yr vs 36.04%/yr for SOXX. At a 0.47 correlation, their price movements are largely independent.
Performance
WAT vs. SOXX - Performance Comparison
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Returns By Period
In the year-to-date period, WAT achieves a -2.80% return, which is significantly lower than SOXX's 99.95% return. Over the past 10 years, WAT has underperformed SOXX with an annualized return of 10.54%, while SOXX has yielded a comparatively higher 36.04% annualized return.
WAT
- 1D
- 3.35%
- 1M
- 7.83%
- YTD
- -2.80%
- 6M
- -4.07%
- 1Y
- 6.45%
- 3Y*
- 12.42%
- 5Y*
- 1.79%
- 10Y*
- 10.54%
SOXX
- 1D
- -0.31%
- 1M
- 12.00%
- YTD
- 99.95%
- 6M
- 96.69%
- 1Y
- 157.04%
- 3Y*
- 56.02%
- 5Y*
- 33.68%
- 10Y*
- 36.04%
WAT vs. SOXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WAT Waters Corporation | -2.80% | 2.39% | 12.68% | -3.90% | -8.06% | 50.59% | 5.89% | 23.85% | -2.35% | 43.75% |
SOXX iShares Semiconductor ETF | 99.95% | 40.74% | 12.92% | 67.12% | -35.09% | 44.09% | 52.72% | 62.42% | -6.49% | 39.79% |
Correlation
The correlation between WAT and SOXX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2001 | 0.47 |
Over the past year, the correlation between WAT and SOXX has dropped to 0.25 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
WAT vs. SOXX — Risk / Return Rank
WAT
SOXX
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.
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.
| WAT | SOXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.86 | ||
| Sortino ratioReturn per unit of downside risk | -3.49 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.57 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | 0.21 | 10.02 | -9.82 |
| Martin ratioReturn relative to average drawdown | 0.41 | 35.78 | -35.37 |
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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.
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Drawdown Indicators
| WAT | SOXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.12% | -70.21% | -9.91% |
Max Drawdown (1Y)Largest decline over 1 year | -31.32% | -15.77% | -15.55% |
Max Drawdown (3Y)Largest decline over 3 years | -33.45% | -41.36% | +7.91% |
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 DrawdownCurrent decline from peak | -13.07% | -8.17% | -4.90% |
Average DrawdownAverage peak-to-trough decline | -23.96% | -19.94% | -4.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.86% | 4.41% | +11.45% |
Volatility
WAT vs. SOXX - Volatility Comparison
The current volatility for Waters Corporation (WAT) is 10.85%, while iShares Semiconductor ETF (SOXX) has a volatility of 22.70%. 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.
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Volatility by Period
| WAT | SOXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.85% | 22.70% | -11.85% |
Volatility (6M)Calculated over the trailing 6-month period | 29.89% | 33.39% | -3.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.96% | 39.43% | -0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.62% | 37.20% | -3.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.82% | 33.99% | -3.17% |
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 0.24%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SOXX iShares Semiconductor ETF | 0.24% | 0.57% | 0.67% | 0.78% | 1.26% | 0.64% | 0.81% | 1.23% | 1.37% | 0.90% | 1.08% | 1.29% |
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% |
Frequently Asked Questions
WAT and SOXX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXX has higher volatility (22.70%) compared to WAT (10.85%). In terms of maximum drawdown, WAT dropped -80.12% vs SOXX's -70.21%.
SOXX currently has the higher Sharpe Ratio (4.02 vs 0.17), 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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