SMH vs SPY
Comparison between VANECK SEMICONDUCTOR ETF (SMH, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSMH has outperformed SPY, delivering a return of +39.1% compared to +13.2%
SMH vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
SMH
$68B
Winner
SPY
$784B
Expense Ratio
SMH
0.35%
Winner
SPY
0.09%
Max Drawdown
SMH
85.92%
Winner
SPY
56.47%
Sharpe Ratio
Winner
SMH
2.58
SPY
1.54
5Y Beta
SMH
1.90
Winner
SPY
1.00
P/E Ratio
SMH
61.52
Winner
SPY
27.62
Forward P/E
SMH
32.97
Winner
SPY
21.11
PEG Ratio
SMH
0.15
SPY
N/A
5Y Dividends CAGR
SMH
3.73%
Winner
SPY
6.00%
5Y EPS CAGR
Winner
SMH
36.23%
SPY
25.30%
Debt to Equity
SMH
N/A
SPY
31.11%
P/S Ratio
SMH
4.66
Winner
SPY
3.49
P/B Ratio
SMH
13.20
Winner
SPY
5.30
SMH vs SPY - Holdings Comparison
SMH and SPY have 20 common holdings. Overlap is 18.27%
SMH's top 25 holdings weight is 99.97%. SPY's top 25 holdings weight is 51.24%.
| Rank | SMH | SPY |
|---|---|---|
| #1 | NVIDIA CORP (NVDA) - 14.17% | NVIDIA CORP (NVDA) - 7.81% |
| #2 | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR (TSM) - 9.30% | APPLE INC (AAPL) - 6.81% |
| #3 | MICRON TECHNOLOGY INC (MU) - 8.02% | MICROSOFT CORP (MSFT) - 4.53% |
| #4 | INTEL CORP (INTC) - 7.32% | AMAZON.COM INC (AMZN) - 3.72% |
| #5 | ADVANCED MICRO DEVICES INC (AMD) - 7.25% | ALPHABET INC CLASS A (GOOGL) - 3.39% |
| #6 | BROADCOM INC (AVGO) - 6.08% | BROADCOM INC (AVGO) - 2.77% |
| #7 | LAM RESEARCH CORP (LRCX) - 4.96% | ALPHABET INC CLASS C (GOOG) - 2.72% |
| #8 | APPLIED MATERIALS INC (AMAT) - 4.90% | META PLATFORMS INC CLASS A (META) - 2.03% |
| #9 | KLA CORP (KLAC) - 4.72% | MICRON TECHNOLOGY INC (MU) - 1.78% |
| #10 | TEXAS INSTRUMENTS INC (TXN) - 4.40% | TESLA INC (TSLA) - 1.76% |
| #11 | ASML HOLDING NV ADR (ASML) - 4.34% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.41% |
| #12 | MARVELL TECHNOLOGY INC (MRVL) - 4.23% | JPMORGAN CHASE & CO (JPM) - 1.38% |
| #13 | QUALCOMM INC (QCOM) - 4.15% | ELI LILLY AND CO (LLY) - 1.38% |
| #14 | ANALOG DEVICES INC (ADI) - 3.76% | ADVANCED MICRO DEVICES INC (AMD) - 1.28% |
| #15 | CADENCE DESIGN SYSTEMS INC (CDNS) - 2.10% | EXXON MOBIL CORP (XOM) - 0.92% |
| #16 | SYNOPSYS INC (SNPS) - 1.79% | JOHNSON & JOHNSON (JNJ) - 0.88% |
| #17 | ARM HOLDINGS PLC ADR (ARM) - 1.30% | VISA INC CLASS A (V) - 0.87% |
| #18 | TERADYNE INC (TER) - 1.20% | INTEL CORP (INTC) - 0.85% |
| #19 | STMICROELECTRONICS NV ADR (STM) - 1.17% | WALMART INC (WMT) - 0.82% |
| #20 | NXP SEMICONDUCTORS NV (NXPI) - 1.15% | CISCO SYSTEMS INC (CSCO) - 0.73% |
| #21 | MONOLITHIC POWER SYSTEMS INC (MPWR) - 1.00% | LAM RESEARCH CORP (LRCX) - 0.71% |
| #22 | ASTERA LABS INC (ALAB) - 0.93% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #23 | MICROCHIP TECHNOLOGY INC (MCHP) - 0.89% | CATERPILLAR INC (CAT) - 0.68% |
| #24 | ON SEMICONDUCTOR CORP (ON) - 0.67% | COSTCO WHOLESALE CORP (COST) - 0.68% |
| #25 | SKYWORKS SOLUTIONS INC (SWKS) - 0.17% | MASTERCARD INC CLASS A (MA) - 0.63% |
| Total Holdings | 26 | 505 |
SMH vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
SMH
+7.93%
SPY
-1.37%
3M
Winner
SMH
+58.95%
SPY
+12.22%
6M
Winner
SMH
+71.29%
SPY
+7.20%
1Y
Winner
SMH
+138.23%
SPY
+23.58%
5Y(CAGR)
Winner
SMH
+39.09%
SPY
+13.19%
10Y(CAGR)
Winner
SMH
+38.10%
SPY
+15.12%
Max(CAGR)
Winner
SMH
+12.99%
SPY
+8.44%
SMH vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | SMH | SPY |
|---|---|---|
| 2026 | +66.64% | +7.95% |
| 2025 | +47.57% | +18.00% |
| 2024 | +43.94% | +25.59% |
| 2023 | +74.72% | +26.72% |
| 2022 | -34.22% | -18.64% |
| 2021 | +42.61% | +30.52% |
| 2020 | +53.08% | +17.28% |
| 2019 | +65.64% | +31.09% |
| 2018 | -9.68% | -5.24% |
| 2017 | +40.12% | +20.78% |
| 2016 | +38.05% | +13.59% |
| 2015 | +1.95% | +1.31% |
| 2014 | +33.05% | +14.56% |
| 2013 | +30.23% | +29.00% |
| 2012 | +9.36% | +14.17% |
| 2011 | +6.79% | +0.85% |
| 2010 | +17.98% | +13.14% |
| 2009 | +57.65% | +22.67% |
| 2008 | -42.18% | -36.25% |
| 2007 | +6.14% | +5.32% |
| 2006 | -10.24% | +13.85% |
| 2005 | +12.01% | +5.32% |
| 2004 | -19.40% | +10.75% |
| 2003 | +74.92% | +24.18% |
| 2002 | -49.20% | -22.42% |
| 2001 | -13.35% | -10.13% |
| 2000 | -50.35% | -8.84% |
| 1999 | N/A | +8.61% |
SMH vs SPY Drawdown Comparison
The maximum drawdown for SMH was -83.96%, occurring on Nov 20, 2008. Recovery took 4062 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current SMH drawdown is -7.01%. The current SPY drawdown is -3.18%.
| Rank | SMH | SPY |
|---|---|---|
| #1 | -83.96% Jun 21, 2000 - Aug 15, 2016 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -45.30% Dec 27, 2021 - Jun 14, 2023 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -35.75% Jul 10, 2024 - Jul 2, 2025 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -33.62% Feb 19, 2020 - Jun 5, 2020 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -25.63% Mar 12, 2018 - Mar 21, 2019 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -17.96% Apr 24, 2019 - Jul 23, 2019 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -15.58% Feb 16, 2021 - Apr 5, 2021 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -14.93% Feb 25, 2026 - Apr 9, 2026 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -14.93% Mar 7, 2024 - May 20, 2024 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -14.42% Jul 31, 2023 - Nov 14, 2023 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -13.04% Apr 5, 2021 - Jun 28, 2021 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -12.23% Jan 23, 2018 - Mar 6, 2018 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -12.18% Jul 24, 2019 - Oct 15, 2019 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -11.80% Oct 29, 2025 - Dec 9, 2025 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -10.75% Sep 2, 2020 - Oct 9, 2020 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between SMH and SPY is 0.93 which considered as a very strong positive correlation - the stocks move almost identically together.
0.93
-101
Dividend Comparison (1999 - 2026)
SMH vs SPY dividend yield comparison.
| Year | SMH | SPY |
|---|---|---|
| 2026 | 0.00% | 0.50% |
| 2025 | 0.31% | 1.07% |
| 2024 | 0.44% | 1.21% |
| 2023 | 0.60% | 1.40% |
| 2022 | 2.37% | 1.65% |
| 2021 | 1.02% | 1.20% |
| 2020 | 1.38% | 1.52% |
| 2019 | 3.00% | 1.75% |
| 2018 | 3.75% | 2.04% |
| 2017 | 2.85% | 1.80% |
| 2016 | 1.61% | 2.03% |
| 2015 | 4.28% | 2.06% |
| 2014 | 2.31% | 1.87% |
| 2013 | 3.11% | 1.81% |
| 2012 | 4.33% | 2.18% |
| 2011 | 13.37% | 2.05% |
| 2010 | 2.57% | 1.80% |
| 2009 | 2.86% | 1.95% |
| 2008 | 4.25% | 3.02% |
| 2007 | 10.73% | 1.85% |
| 2006 | 1.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
Select Stocks to Compare
Popular: SMH vs SPY
More Comparisons
Compare with similar stocks
Compare SMH with:
Compare SPY with:
Popular suggestions:
SPY vs VOO
SPDR S&P 500 ETF Trust vs VANGUARD 500 INDEX FUND ETF SHARES
SPY vs BRK-B
SPDR S&P 500 ETF Trust vs Berkshire Hathaway Inc - Class B
SPY vs SCHD
SPDR S&P 500 ETF Trust vs SCHWAB U.S. DIVIDEND EQUITY ETF
SOXX vs SMH
ISHARES SEMICONDUCTOR ETF vs VANECK SEMICONDUCTOR ETF
SPY vs GLD
SPDR S&P 500 ETF Trust vs SPDR Gold Shares ETF
SMHI vs SMH
SEACOR Marine Holdings Inc vs VANECK SEMICONDUCTOR ETF
PWB vs SMH
INVESCO LARGE CAP GROWTH ETF vs VANECK SEMICONDUCTOR ETF
SMH vs SCHD
VANECK SEMICONDUCTOR ETF vs SCHWAB U.S. DIVIDEND EQUITY ETF
FTXL vs SMH
FIRST TRUST NASDAQ SEMICONDUCTOR ETF vs VANECK SEMICONDUCTOR ETF
SPY vs SPYG
SPDR S&P 500 ETF Trust vs STATE STREET(R) SPDR(R) PORTFOLIO S&P 500(R) GROWTH ETF