XSW vs. SMH
Compare and contrast key facts about SPDR S&P Software & Services ETF (XSW) and VanEck Semiconductor ETF (SMH).
XSW and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSW is a passively managed fund by State Street that tracks the performance of the S&P Software & Services Select Industry Index. It was launched on Sep 28, 2011. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. Both XSW and SMH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
XSW vs. SMH - Performance Comparison
Loading graphics...
XSW vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSW SPDR S&P Software & Services ETF | -23.97% | -0.90% | 25.81% | 38.60% | -34.22% | 7.47% | 52.41% | 36.50% | 7.67% | 27.94% |
SMH VanEck Semiconductor ETF | 6.46% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Returns By Period
In the year-to-date period, XSW achieves a -23.97% return, which is significantly lower than SMH's 6.46% return. Over the past 10 years, XSW has underperformed SMH with an annualized return of 11.83%, while SMH has yielded a comparatively higher 31.28% annualized return.
XSW
- 1D
- 2.63%
- 1M
- -5.49%
- YTD
- -23.97%
- 6M
- -28.05%
- 1Y
- -10.96%
- 3Y*
- 5.07%
- 5Y*
- -2.31%
- 10Y*
- 11.83%
SMH
- 1D
- 5.76%
- 1M
- -5.65%
- YTD
- 6.46%
- 6M
- 17.84%
- 1Y
- 81.87%
- 3Y*
- 43.47%
- 5Y*
- 25.59%
- 10Y*
- 31.28%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
XSW vs. SMH - Expense Ratio Comparison
Both XSW and SMH have an expense ratio of 0.35%.
Return for Risk
XSW vs. SMH — Risk / Return Rank
XSW
SMH
XSW vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Software & Services ETF (XSW) 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.
| XSW | SMH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.36 | 2.23 | -2.60 |
Sortino ratioReturn per unit of downside risk | -0.33 | 2.85 | -3.17 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.40 | -0.44 |
Calmar ratioReturn relative to maximum drawdown | -0.38 | 5.10 | -5.47 |
Martin ratioReturn relative to average drawdown | -1.01 | 18.29 | -19.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| XSW | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.36 | 2.23 | -2.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | 0.74 | -0.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.97 | -0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.28 | +0.29 |
Correlation
The correlation between XSW and SMH is 0.65, 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
XSW vs. SMH - Dividend Comparison
XSW's dividend yield for the trailing twelve months is around 0.05%, less than SMH's 0.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XSW SPDR S&P Software & Services ETF | 0.05% | 0.06% | 0.07% | 0.20% | 0.09% | 0.13% | 0.26% | 0.12% | 0.31% | 0.46% | 0.87% | 0.54% |
SMH VanEck Semiconductor ETF | 0.29% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Drawdowns
XSW vs. SMH - Drawdown Comparison
The maximum XSW drawdown since its inception was -45.38%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for XSW and SMH.
Loading graphics...
Drawdown Indicators
| XSW | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.38% | -84.96% | +39.58% |
Max Drawdown (1Y)Largest decline over 1 year | -32.64% | -15.95% | -16.69% |
Max Drawdown (5Y)Largest decline over 5 years | -45.38% | -45.30% | -0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -45.38% | -45.30% | -0.08% |
Current DrawdownCurrent decline from peak | -30.67% | -10.03% | -20.64% |
Average DrawdownAverage peak-to-trough decline | -9.66% | -41.36% | +31.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.18% | 4.44% | +7.74% |
Volatility
XSW vs. SMH - Volatility Comparison
The current volatility for SPDR S&P Software & Services ETF (XSW) is 7.84%, while VanEck Semiconductor ETF (SMH) has a volatility of 12.11%. This indicates that XSW 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.
Loading graphics...
Volatility by Period
| XSW | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.84% | 12.11% | -4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 20.51% | 23.95% | -3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.30% | 36.84% | -6.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.21% | 34.71% | -6.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.87% | 32.28% | -6.41% |