SMH vs SOXX: Returns, Drawdowns and Dividends Since 2016
SMH (VanEck Semiconductor ETF) and SOXX (iShares Semiconductor ETF) moved almost in lockstep: their daily returns had a correlation of 0.988, where 1 would mean identical. SMH came out ahead, returning 31.6% a year with dividends reinvested from January 2016 to November 2026, against 28.7% for SOXX.
Bought on any day and held five years, SMH finished ahead 78% of the time. Both fell about 46% at their worst, in October 2022.
| Measure | SMH | SOXX |
|---|---|---|
| Annual return | 31.6% | 28.7% |
| $10,000 grew to | $196,005 | $153,655 |
| Worst decline | −45.3%Oct 2022 | −45.8%Oct 2022 |
| Volatility Volatility How much the fund's daily returns swing: their standard deviation over this period, annualized with the square root of 252 trading days. | 33.2% | 34.5% |
| Sharpe ratio Sharpe ratio Return above T-bills for each unit of risk: daily returns minus the T-bill ETF BIL, averaged, divided by their standard deviation and annualized. Higher is better. T-bill funds show none. Sharpe ratio calculator | 0.93 | 0.84 |
| 12-month yield 12-month yield Cash dividends with ex-dividend dates in the past 12 months, divided by the latest closing price. | 0.2% | 0.3% |
| Best year | +73.4%2023 | +67.1%2023 |
| Worst year | −33.5%2022 | −35.1%2022 |
| Correlation between them Correlation How closely the two funds' daily returns moved together over this period: 1 means identical every day, 0 means no relation. | 0.988 | |
SMH: VanEck Semiconductor ETFSOXX: iShares Semiconductor ETF
Jan 4, 2016 to Nov 6, 2026, dividends reinvested.
Hover or use the arrow keys to read any day.Tap or drag across the chart to read any day.
Worst declines
SMH fell 45.3% from Dec 27, 2021 to Oct 14, 2022 and was back at its high on Jul 13, 2023. SOXX fell 45.8% from Dec 27, 2021 to Oct 14, 2022 and was back at its high on Dec 13, 2023.
Hover or use the arrow keys to read any day.Tap or drag across the chart to read any day.
Year by year
SMH was ahead in 6 of the 11 calendar years.
| Year | SMH | SOXX | Ahead (pts) |
|---|---|---|---|
| 2026 (to Nov 6) | +28.8% | +36.2% | SOXX+7.4 |
| 2025 | +49.2% | +40.7% | SMH+8.4 |
| 2024 | +39.1% | +12.9% | SMH+26.2 |
| 2023 | +73.4% | +67.1% | SMH+6.2 |
| 2022 | −33.5% | −35.1% | SMH+1.6 |
| 2021 | +42.1% | +44.1% | SOXX+2.0 |
| 2020 | +55.5% | +52.7% | SMH+2.8 |
| 2019 | +66.9% | +62.4% | SMH+4.4 |
| 2018 | −9.0% | −6.5% | SOXX+2.6 |
| 2017 | +38.5% | +39.8% | SOXX+1.3 |
| 2016 (from Jan 4) | +37.0% | +40.0% | SOXX+3.0 |
Held for 1, 3 or 5 years: which came out ahead
Buy on any trading day from Jan 4, 2016, hold for a set time, and see which fund ended higher. The periods overlap, so they show how much the start date mattered, not separate results.
| Hold | Days tested | Ahead more often | Median lead (pts) |
|---|---|---|---|
| 1 year | 2,476 | SMH57% | +1.1 |
| 3 years | 1,972 | SMH81% | +9.0 |
| 5 years | 1,468 | SMH78% | +38.3 |
Median lead is the typical gap in total return across all start dates, in percentage points. The latest 5-year hold starts on Oct 29, 2021.
Dividends
Over the past 12 months SMH paid 0.2% of its price in dividends and SOXX 0.3%. The returns above already include them, reinvested on each ex-dividend date.
Dividends per share by year
| Year | SMH | SOXX |
|---|---|---|
| 2026 (to Nov 6) | — | $0.27 3 payments |
| 2025 | $1.10 1 payment | $0.57 4 payments |
| 2024 | $1.07 1 payment | $0.48 4 payments |
| 2023 | $1.04 1 payment | $0.50 4 payments |
| 2022 | $1.20 1 payment | $0.49 4 payments |
| 2021 | $0.79 1 payment | $0.38 5 payments |
| 2020 | $0.75 1 payment | $0.34 4 payments |
| 2019 | $2.12 1 payment | $0.34 4 payments |
| 2018 | $0.82 1 payment | $0.24 4 payments |
| 2017 | $0.70 1 payment | $0.17 4 payments |
| 2016 (from Jan 4) | $0.29 1 payment | $0.15 4 payments |
Per share in today's shares (earlier amounts are restated for share splits), by ex-dividend date.
The two funds
- SMH
- VanEck Semiconductor ETF, an ETF launched May 5, 2000. FinLab prices start Jan 4, 2016.
- SMH price and signal backtests
- SOXX
- iShares Semiconductor ETF, an ETF launched Jul 10, 2001. FinLab prices start Jan 4, 2016.
- SOXX price and signal backtests
More comparisons
Source: FinLab U.S. fund prices, Jan 4, 2016 to Nov 6, 2026, the days both funds traded. Returns use prices adjusted for dividends and splits, before taxes; annual return is compounded.
For research and education. Past returns do not guarantee future results, and this is not investment advice.