WDC vs. SMH

Last updated Jul 31, 2026

WDC (Western Digital Corporation) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, WDC returned 33.09%/yr vs 33.94%/yr for SMH. Their 0.57 correlation means they have sometimes moved together and sometimes differently.

Performance

WDC vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Western Digital Corporation (WDC) 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, WDC achieves a 209.65% return, which is significantly higher than SMH's 49.64% return. Both investments have delivered pretty close results over the past 10 years, with WDC having a 33.09% annualized return and SMH not far ahead at 33.94%.

WDC

• 1D: 15.37%
• 1M: -16.55%
• 6M: 91.60%
• YTD: 209.65%
• 1Y: 648.26%
• 3Y*: 155.33%
• 5Y*: 61.28%
• 10Y*: 33.09%
• ALL TIME*: 12.15%

SMH

• 1D: 6.88%
• 1M: -17.84%
• 6M: 29.07%
• YTD: 49.64%
• 1Y: 82.47%
• 3Y*: 50.38%
• 5Y*: 33.38%
• 10Y*: 33.94%
• ALL TIME*: 11.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SMH VanEck Semiconductor ETF	$8.72B	$7.67B	$7.05B
WDC Western Digital Corporation	$3.77B	$3.86B	$4.66B

WDC vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WDC Western Digital Corporation	209.65%	283.68%	13.86%	65.99%	-51.62%	17.73%	-10.89%	77.14%	-51.90%	19.83%
SMH VanEck Semiconductor ETF	49.64%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between WDC and SMH is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (10Y) Provides a long-term view across more market conditions.	0.65
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000	0.57

The correlation between WDC and SMH shifts across timeframes, from 0.57 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

WDC vs. SMH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WDC

WDC Risk / Return Rank: 99
WDC Sharpe Ratio Rank: 100
WDC Sortino Ratio Rank: 99
WDC Omega Ratio Rank: 98
WDC Calmar Ratio Rank: 100
WDC Martin Ratio Rank: 100

SMH

SMH Risk / Return Rank: 86
SMH Sharpe Ratio Rank: 90
SMH Sortino Ratio Rank: 82
SMH Omega Ratio Rank: 83
SMH Calmar Ratio Rank: 87
SMH Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WDC vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Western Digital Corporation (WDC) 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.

	WDC	SMH	Difference
Sharpe ratio: Return per unit of total volatility	8.46	2.15	+6.31
Sortino ratio: Return per unit of downside risk	5.05	2.58	+2.47
Omega ratio: Gain probability vs. loss probability	1.65	1.34	+0.31
Calmar ratio: Return relative to maximum drawdown	17.18	3.37	+13.81
Martin ratio: Return relative to average drawdown	61.46	14.04	+47.42

WDC vs. SMH - Sharpe Ratio Comparison

The current WDC Sharpe Ratio is 8.46, which is higher than the SMH Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of WDC 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.

Drawdowns

WDC vs. SMH - Drawdown Comparison

The maximum WDC drawdown since its inception was -96.20%, which is greater than SMH's maximum drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for WDC and SMH.

Drawdown Indicators

	WDC	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-96.20%	-84.96%	-11.24%
Max Drawdown (1Y) Largest decline over 1 year	-38.08%	-24.62%	-13.46%
Max Drawdown (3Y) Largest decline over 3 years	-49.65%	-35.74%	-13.91%
Max Drawdown (5Y) Largest decline over 5 years	-56.06%	-45.30%	-10.76%
Max Drawdown (10Y) Largest decline over 10 years	-70.49%	-45.30%	-25.19%
Current Drawdown Current decline from peak	-28.57%	-19.44%	-9.13%
Average Drawdown Average peak-to-trough decline	-51.97%	-40.89%	-11.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.62%	5.91%	+4.71%

Volatility

WDC vs. SMH - Volatility Comparison

Western Digital Corporation (WDC) has a higher volatility of 31.81% compared to VanEck Semiconductor ETF (SMH) at 15.44%. This indicates that WDC's price experiences larger fluctuations and is considered to be riskier than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDC	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.81%	15.44%	+16.37%
Volatility (6M) Calculated over the trailing 6-month period	61.45%	33.13%	+28.32%
Volatility (1Y) Calculated over the trailing 1-year period	77.34%	38.58%	+38.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.09%	36.51%	+15.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.89%	33.32%	+16.57%

Dividends

WDC vs. SMH - Dividend Comparison

WDC's dividend yield for the trailing twelve months is around 0.09%, less than SMH's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMH VanEck Semiconductor ETF	0.20%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%
WDC Western Digital Corporation	0.09%	0.19%	0.00%	0.00%	0.00%	0.00%	1.81%	2.36%	5.41%	2.51%	2.94%	3.33%

Frequently Asked Questions

Can I hold both WDC and SMH in my portfolio?

WDC and SMH have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WDC or SMH?

WDC has higher volatility (31.81%) compared to SMH (15.44%). In terms of maximum drawdown, WDC dropped -96.20% vs SMH's -84.96%.

Which has better risk-adjusted returns?

WDC currently has the higher Sharpe Ratio (8.46 vs 2.15), 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.