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Relative Intelligence · Semiconductors

How iShares Semiconductor ETF (SOXX) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on SOXX alone. It places SOXX (iShares Semiconductor ETF) against 11 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where SOXX stands in the market, and of the alternatives worth a closer look.

Period covered: SOXX's full trading record, from July 2001 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against SOXX →Chart SOXX vs. 11 alternatives →
On this page12 sections

Key findings

How much would $10,000 in SOXX have grown?

This chart tracks a hypothetical $10,000 investment in SOXX over the past 22 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of SOXX over the same span and SOXX's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: The chart covers the past 22 years rather than SOXX's full 25 years, because most of its popular alternatives have not traded that long.

Choose a period

From the end of September 2004 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 61 of the 1,487 stocks and funds worth at least $500 million that traded the whole period ended ahead of SOXX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M200420082012201620202024$10,000$100,000$1M2004201020162022
  • STX$1M+14,002% total · +25.2% a year
  • APH$945,432+9,354% total · +23.0% a year
  • MU$907,872+8,979% total · +22.7% a year
  • SMH$644,463+6,345% total · +20.8% a year
  • AMD$470,572+4,606% total · +19.1% a year
  • SOXX$434,743+4,247% total · +18.7% a year
  • VGT$291,569+2,816% total · +16.6% a year
  • XLK$273,025+2,630% total · +16.2% a year
  • IGV$159,874+1,499% total · +13.4% a year
  • SPY (S&P 500)$102,174+922% total · +11.1% a year
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From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 204 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of SOXX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000202120222023202420252026$10,000$20,000$50,000$100,000202120222023202420252026
  • MU$153,675+1,437% total · +72.7% a year
  • DELL$112,363+1,024% total · +62.2% a year
  • AMD$59,452+495% total · +42.8% a year
  • HPE$51,318+413% total · +38.7% a year
  • SMH$48,982+390% total · +37.4% a year
  • SOXQ$40,374+304% total · +32.2% a year
  • SOXX$39,747+297% total · +31.8% a year
  • FTXL$38,276+283% total · +30.8% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • SKYY$15,690+56.9% total · +9.4% a year
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SOXX at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The fund

Issuer
IShares
Began trading
July 2001
Expense ratio
0.33%per year
Assets
$39B
Category
Broad Market

Returns

Past 1 year
+71.2%total return
Past 3 years
+234%+49.4% a year
Past 5 years
+237%+27.5% a year
Past 10 years
+1,392%+31.0% a year
Best calendar year
+81.0%2003
Worst calendar year
−51.7%2008
Losing years
8 of 24full calendar years

Risk

Volatility
38.9%typical yearly swing, 5 years
Sharpe ratio
0.82return per unit of risk, 5 years
Worst decline ever
−70.3%Aug 2001 to Nov 2008
From its all-time high
−23.6%below the peak

SOXX against the whole market

Where SOXX ranks among every stock and fund, and what across the market has done better.

How does SOXX rank among all ETFs?

This section ranks SOXX on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how SOXX stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.

MeasureSOXXRankStanding
1-year return+71.2%17 of 2,485top 1%
3-year return+234%20 of 1,949top 1%
5-year return+237%5 of 1,560top 1%
10-year return+1,392%3 of 958top 1%
Volatility, 5 years38.9%1,518 of 1,560bottom 4%
Sharpe ratio, 5 years0.82299 of 1,560top 19%
Worst decline, past 10 years−45.8%727 of 951bottom 25%

What has beaten SOXX on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). SOXX sits where the dashed lines cross. Anything in the green box above and to the left earned more than SOXX with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to SOXX; faint dots are 39 more of the 48 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%20.0%30.0%40.0%50.0%60.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than SOXXAPH: +33.8% a year, volatility 32.2%BAP: +30.8% a year, volatility 30.3%CIB: +32.9% a year, volatility 32.9%ESLT: +39.8% a year, volatility 34.6%CASY: +29.9% a year, volatility 29.3%AAMI: +29.0% a year, volatility 35.6%EZPW: +33.2% a year, volatility 35.4%HWM: +47.3% a year, volatility 32.5%HSBC: +33.1% a year, volatility 25.9%GE: +36.0% a year, volatility 31.0%CAT: +31.1% a year, volatility 31.9%MUFG: +33.2% a year, volatility 29.4%SAN: +31.7% a year, volatility 33.9%BBVA: +38.7% a year, volatility 33.3%IBKR: +35.4% a year, volatility 35.4%MFG: +33.6% a year, volatility 30.6%PSX: +33.2% a year, volatility 32.9%SMFG: +33.7% a year, volatility 29.4%SU: +33.1% a year, volatility 32.5%IMO: +34.3% a year, volatility 32.0%EME: +43.0% a year, volatility 35.3%CW: +30.8% a year, volatility 28.7%RL: +28.6% a year, volatility 36.9%UNM: +30.6% a year, volatility 29.3%MLI: +38.9% a year, volatility 33.4%MOG-A: +36.6% a year, volatility 32.0%LAUR: +37.5% a year, volatility 32.8%AROC: +33.1% a year, volatility 36.4%CAAP: +35.1% a year, volatility 35.9%WT: +31.4% a year, volatility 32.8%USLM: +35.6% a year, volatility 36.1%ARLP: +29.4% a year, volatility 31.6%HWKN: +29.1% a year, volatility 36.5%BLX: +31.4% a year, volatility 25.9%NRP: +37.4% a year, volatility 33.9%ESQ: +31.7% a year, volatility 31.7%IGIC: +30.8% a year, volatility 30.9%NBN: +28.8% a year, volatility 33.3%NWPX: +32.5% a year, volatility 36.2%SOXX: +27.5% a year, volatility 38.9%SPY (S&P 500): +12.7% a year, volatility 17.1%SMH: +33.4% a year, volatility 36.9%MU: +68.1% a year, volatility 57.1%HPE: +32.9% a year, volatility 42.2%AMD: +35.7% a year, volatility 57.6%DELL: +55.2% a year, volatility 54.4%STX: +57.4% a year, volatility 48.7%ASX: +48.8% a year, volatility 43.0%LLY: +40.7% a year, volatility 32.8%NHC: +32.0% a year, volatility 28.5%VLO: +44.2% a year, volatility 36.9%TRGP: +41.8% a year, volatility 31.7%MCK: +38.7% a year, volatility 25.0%DXJ: +26.6% a year, volatility 19.1%PBR-A: +51.8% a year, volatility 37.5%EPU: +29.5% a year, volatility 24.9%MPC: +51.2% a year, volatility 33.4%CAH: +42.1% a year, volatility 24.7%SOXXSPY (S&P 500)SMHMUHPEAMDDELLSTXASXLLYNHCVLOTRGPMCKDXJPBR-AEPUMPCCAH10.0%20.0%30.0%40.0%50.0%60.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than SOXXAPH: +33.8% a year, volatility 32.2%BAP: +30.8% a year, volatility 30.3%CIB: +32.9% a year, volatility 32.9%ESLT: +39.8% a year, volatility 34.6%CASY: +29.9% a year, volatility 29.3%AAMI: +29.0% a year, volatility 35.6%EZPW: +33.2% a year, volatility 35.4%HWM: +47.3% a year, volatility 32.5%HSBC: +33.1% a year, volatility 25.9%GE: +36.0% a year, volatility 31.0%CAT: +31.1% a year, volatility 31.9%MUFG: +33.2% a year, volatility 29.4%SAN: +31.7% a year, volatility 33.9%BBVA: +38.7% a year, volatility 33.3%IBKR: +35.4% a year, volatility 35.4%MFG: +33.6% a year, volatility 30.6%PSX: +33.2% a year, volatility 32.9%SMFG: +33.7% a year, volatility 29.4%SU: +33.1% a year, volatility 32.5%IMO: +34.3% a year, volatility 32.0%EME: +43.0% a year, volatility 35.3%CW: +30.8% a year, volatility 28.7%RL: +28.6% a year, volatility 36.9%UNM: +30.6% a year, volatility 29.3%MLI: +38.9% a year, volatility 33.4%MOG-A: +36.6% a year, volatility 32.0%LAUR: +37.5% a year, volatility 32.8%AROC: +33.1% a year, volatility 36.4%CAAP: +35.1% a year, volatility 35.9%WT: +31.4% a year, volatility 32.8%USLM: +35.6% a year, volatility 36.1%ARLP: +29.4% a year, volatility 31.6%HWKN: +29.1% a year, volatility 36.5%BLX: +31.4% a year, volatility 25.9%NRP: +37.4% a year, volatility 33.9%ESQ: +31.7% a year, volatility 31.7%IGIC: +30.8% a year, volatility 30.9%NBN: +28.8% a year, volatility 33.3%NWPX: +32.5% a year, volatility 36.2%SOXX: +27.5% a year, volatility 38.9%SPY (S&P 500): +12.7% a year, volatility 17.1%SMH: +33.4% a year, volatility 36.9%MU: +68.1% a year, volatility 57.1%HPE: +32.9% a year, volatility 42.2%AMD: +35.7% a year, volatility 57.6%DELL: +55.2% a year, volatility 54.4%STX: +57.4% a year, volatility 48.7%ASX: +48.8% a year, volatility 43.0%LLY: +40.7% a year, volatility 32.8%NHC: +32.0% a year, volatility 28.5%VLO: +44.2% a year, volatility 36.9%TRGP: +41.8% a year, volatility 31.7%MCK: +38.7% a year, volatility 25.0%DXJ: +26.6% a year, volatility 19.1%PBR-A: +51.8% a year, volatility 37.5%EPU: +29.5% a year, volatility 24.9%MPC: +51.2% a year, volatility 33.4%CAH: +42.1% a year, volatility 24.7%SOXXSPY (S&P 500)SMHMUHPEAMDDELLSTXASXLLYNHCVLOTRGPMCKDXJPBR-ACAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than SOXX?

Investments that beat SOXX over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat SOXX over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio. It checks SOXX's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than SOXX follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than SOXX's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× SOXX's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than SOXX's.

Screen the whole market against SOXX for any period in BetterThanSPYOpen these 16 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with SOXX?lower diversifies moreExpenseper year
SOXXiShares Semiconductor ETF · this page
+27.5%38.9%0.82−45.8%+1,392%1.000.33%
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.740.09%
Popular alternativesbest 1 shownThe investments people most often weigh against SOXX. 1 of 10 passed at least one test.
SMHVanEck Semiconductor ETF · Semiconductors
Higher return, lower volatility+33.4%36.9%0.97−45.3%+1,665%0.980.35%
Same and neighboring categories, and shared themesbest 6 shownEverything else in Semiconductors and the categories next to it (Semiconductor Equipment, Computer Hardware, Communications Equipment, Software), plus SOXX's specific themes. 10 of 145 passed at least one test.
MUMicron Technology, Inc. · Semiconductors
On the frontierHigher return in most periods+68.1%57.1%1.20−57.6%+5,243%0.77—
HPEHewlett Packard Enterprise Company · Computer Hardware
Higher return, similar volatilityHigher return in most periods+32.9%42.2%0.89−56.9%+483%0.56—
AMDAdvanced Micro Devices, Inc. · Semiconductors
Higher return in most periods+35.7%57.6%0.82−65.5%+7,583%0.85—
DELLDell Technologies Inc. · Computer Hardware
Higher return in most periods+55.2%54.4%1.08−59.6%+3,701%0.49—
STXSeagate Technology Holdings plc · Computer Hardware
Higher return in most periods+57.4%48.7%1.18−57.0%+2,698%0.79—
ASXASE Technology Holding Co., Ltd. · Semiconductors
Higher return in most periods+48.8%43.0%1.15−52.5%+967%0.85—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 89 of 3,478 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+40.7%32.8%1.21−34.5%+1,807%0.15—
NHCNational HealthCare Corporation · Medical - Care Facilities
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+32.0%28.5%1.12−35.3%+394%0.27—
VLOValero Energy Corporation · Oil & Gas
Higher return, lower volatilityHigher return in most periods+44.2%36.9%1.18−71.9%+1,061%0.10—
TRGPTarga Resources Corp. · Oil & Gas Midstream
Higher return, lower volatilityHigher return in most periods+41.8%31.7%1.27−90.8%+829%0.11—
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst decline+38.7%25.0%1.44−38.1%+586%-0.11—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline+26.6%19.1%1.34−39.1%+428%0.430.48%
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
On the frontierHigher return, similar volatility+51.8%37.5%1.31−71.7%+768%0.07—
EPUiShares MSCI Peru and Global Exposure ETF · International
Higher return, lower volatility+29.5%24.9%1.17−51.0%+275%0.360.59%
What these numbers mean for SOXX
Annual return
SOXX returned 27.5% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $33,700. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
SOXX's volatility over the past 5 years was 38.9%, 2.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SOXX's return lands within 38.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
SOXX's Sharpe ratio over the past 5 years was 0.82, against 0.79 for the S&P 500, so SOXX earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
SOXX's worst fall from a peak to a low over the past 10 years was 45.8%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 45.8% fall takes a 84.3% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, SOXX's monthly returns had a correlation of 0.74 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against SOXX instead: the lower it is, the more that option would diversify a SOXX holding. Guide: Correlation and diversification →
Show all 48 stocks and funds worth at least $500 million that earned more than SOXX with less volatility

Out of 3,633 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with SOXXExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.15—
2
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.27—
3
VLOValero Energy Corporation · Oil & Gas
Whole market+44.2%36.9%1.18−71.9%+1,061%0.10—
4
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.11—
5
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%-0.11—
6
APHAmphenol Corporation · Electronic Components
Whole market+33.8%32.2%1.07−37.5%+965%0.70—
7
BAPCredicorp Ltd. · Banks
Whole market+30.8%30.3%1.04−59.2%+298%0.34—
8
CIBGrupo Cibest S.A. · Banks
Whole market+32.9%32.9%1.03−70.4%+345%0.17—
9
ESLTElbit Systems Ltd. · Aerospace & Defense
Whole market+39.8%34.6%1.15−35.4%+765%-0.05—
10
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+29.9%29.3%1.04−36.1%+537%0.17—
11
AAMIAcadian Asset Management · Asset Management
Whole market+29.0%35.6%0.90−78.1%+652%0.38—
12
EZPWEZCORP, Inc. · Financial - Credit Services
Whole market+33.2%35.4%0.99−76.6%+202%0.30—
13
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.06—
14
HWMHowmet Aerospace Inc. · Aerospace & Defense
Whole market+47.3%32.5%1.36−68.9%+1,028%0.32—
15
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.13—
16
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.27—
17
GEGE Aerospace · Aerospace & Defense
Whole market+36.0%31.0%1.15−80.9%+139%0.48—
18
CATCaterpillar Inc. · Industrial Machinery
Whole market+31.1%31.9%1.01−43.4%+936%0.61—
19
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%0.18—
20
SANBanco Santander, S.A. · Banks
Whole market+31.7%33.9%0.99−73.8%+332%0.25—
21
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Whole market+38.7%33.3%1.16−69.6%+542%0.16—
22
IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage
Whole market+35.4%35.4%1.04−55.1%+935%0.42—
23
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.6%30.6%1.10−45.7%+345%0.23—
24
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%0.04—
25
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+33.7%29.4%1.14−47.6%+474%0.22—
26
SUSuncor Energy Inc. · Integrated Oil & Gas
Whole market+33.1%32.5%1.05−73.5%+295%-0.13—
27
IMOImperial Oil Limited · Integrated Oil & Gas
Whole market+34.3%32.0%1.09−77.1%+430%0.01—
28
EMEEMCOR Group, Inc. · Engineering & Construction
Whole market+43.0%35.3%1.20−48.0%+1,202%0.41—
29
CWCurtiss-Wright Corporation · Aerospace & Defense
Whole market+30.8%28.7%1.08−48.7%+512%0.38—
30
RLRalph Lauren Corporation · Apparel & Footwear
Whole market+28.6%36.9%0.87−55.1%+370%0.44—
31
UNMUnum Group · Life Insurance
Whole market+30.6%29.3%1.06−81.0%+256%-0.02—
32
MLIMueller Industries, Inc. · Metal Fabrication
Whole market+38.9%33.4%1.16−53.0%+800%0.42—
33
MOG-AMoog Inc. · Aerospace & Defense
Whole market+36.6%32.0%1.14−63.7%+595%0.43—
34
LAURLaureate Education, Inc. · Education Services
Whole market+37.5%32.8%1.14−64.5%—-0.01—
35
AROCArchrock, Inc. · Oilfield Services
Whole market+33.1%36.4%0.97−84.9%+288%0.31—
36
CAAPCorporacion America Airports S.A. · Infrastructure
Whole market+35.1%35.9%1.02−89.9%—0.20—
37
SMHVanEck Semiconductor ETF · Semiconductors
Popular alternative+33.4%36.9%0.97−45.3%+1,665%0.980.35%
38
WTWisdomTree, Inc. · Asset Management
Whole market+31.4%32.8%1.00−84.0%+174%0.37—
39
USLMUnited States Lime & Minerals, Inc. · Construction Materials
Whole market+35.6%36.1%1.03−45.9%+803%-0.03—
40
ARLPAlliance Resource Partners, L.P. · Coal
Whole market+29.4%31.6%0.98−85.3%+173%-0.14—
41
HWKNHawkins, Inc. · Chemicals - Specialty
Whole market+29.1%36.5%0.89−44.8%+627%0.14—
42
BLXBladex, Inc. · Banks - Regional
Whole market+31.4%25.9%1.19−68.5%+290%0.36—
43
NRPNatural Resource Partners L.P. · Coal
Whole market+37.4%33.9%1.11−78.8%+632%-0.07—
44
ESQEsquire Financial Holdings, Inc. · Banks - Regional
Whole market+31.7%31.7%1.03−56.5%—0.05—
45
IGICInternational General Insurance Holdings Ltd. · Insurance - Diversified
Whole market+30.8%30.9%1.03−50.6%—-0.16—
46
NBNNortheast Bank · Banks - Regional
Whole market+28.8%33.3%0.93−70.2%+1,064%0.13—
47
NWPXNWPX Infrastructure, Inc. · Construction Materials
Whole market+32.5%36.2%0.96−46.5%+682%0.50—
48
EPUiShares MSCI Peru and Global Exposure ETF · International
Whole market+29.5%24.9%1.17−51.0%+275%0.360.59%

SOXX against its popular alternatives

The investments people most often weigh against SOXX, compared period by period and year by year.

How do SOXX's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at SOXX, which divides the map into what did better or worse on each measure.

Green points earned more than SOXX with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

15.0%20.0%25.0%30.0%35.0%40.0%45.0%−5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilitySOXX: 27.5% a year, volatility 38.9%SPY (S&P 500): 12.7% a year, volatility 17.1%SMH: 33.4% a year, volatility 36.9%XSD: 18.3% a year, volatility 40.8%PSI: 24.3% a year, volatility 41.6%SOXQ: 28.3% a year, volatility 38.9%FTXL: 27.4% a year, volatility 38.8%SKYY: 7.5% a year, volatility 31.4%IGV: 4.4% a year, volatility 28.9%VGT: 18.4% a year, volatility 26.0%XLK: 19.4% a year, volatility 26.0%BOTZ: −2.0% a year, volatility 27.3%SOXXSPY (S&P 500)SMHXSDPSISOXQSKYYIGVVGTXLKBOTZ15.0%20.0%25.0%30.0%35.0%40.0%45.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilitySOXX: 27.5% a year, volatility 38.9%SPY (S&P 500): 12.7% a year, volatility 17.1%SMH: 33.4% a year, volatility 36.9%XSD: 18.3% a year, volatility 40.8%PSI: 24.3% a year, volatility 41.6%SOXQ: 28.3% a year, volatility 38.9%FTXL: 27.4% a year, volatility 38.8%SKYY: 7.5% a year, volatility 31.4%IGV: 4.4% a year, volatility 28.9%VGT: 18.4% a year, volatility 26.0%XLK: 19.4% a year, volatility 26.0%BOTZ: −2.0% a year, volatility 27.3%SOXXSPY (S&P 500)SMHXSDPSISOXQSKYYIGVVGTXLKBOTZ
All figures
InvestmentAnnual returnVolatility
SMH VanEck Semiconductor ETF+33.4%36.9%
SOXQ Invesco PHLX Semiconductor ETF+28.3%38.9%
SOXX This pageiShares Semiconductor ETF+27.5%38.9%
FTXL First Trust Nasdaq Semiconductor ETF+27.4%38.8%
PSI Invesco Semiconductors ETF+24.3%41.6%
XLK State Street Technology Select Sector SPDR ETF+19.4%26.0%
VGT Vanguard Information Technology ETF+18.4%26.0%
XSD State Street SPDR S&P Semiconductor ETF+18.3%40.8%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
SKYY First Trust Cloud Computing ETF+7.5%31.4%
IGV iShares Expanded Tech-Software Sector ETF+4.4%28.9%
BOTZ Global X - Robotics & Artificial Intelligence ETF−2.0%27.3%
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Has SOXX consistently beaten its popular alternatives?

This section compares SOXX with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than SOXX helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than SOXX over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
SOXX iShares Semiconductor ETF (this page)—−10.6%−4.5%+19.9%+59.7%+71.2%+234%+237%+1,392%38.9%0.82−45.8%0.33%$39B—
SMH TechnologyVanEck Semiconductor ETF2/5 short3/3 long−8.3%−2.2%+17.8%+46.4%+57.8%+290%+323%+1,665%36.9%0.97−45.3%0.35%$66B—
SOXQ TechnologyInvesco PHLX Semiconductor ETF2/5 short2/3 long−9.3%−3.9%+17.7%+53.5%+64.5%+246%+248%—38.9%0.84−46.0%0.19%$2.9B—
FTXL TechnologyFirst Trust Nasdaq Semiconductor ETF4/5 short1/3 long−9.6%−1.9%+18.2%+64.8%+85.1%+249%+235%+1,077%38.8%0.82−43.9%0.60%$1.2B—
SKYY TechnologyFirst Trust Cloud Computing ETF3/5 short0/3 long−2.9%+19.5%+37.0%+27.8%+21.5%+122%+43.4%+396%31.4%0.39−53.2%0.60%$3.3B—
IGV Broad MarketiShares Expanded Tech-Software Sector ETF3/5 short0/3 long−0.2%+15.0%+23.9%+4.2%−6.1%+57.9%+24.0%+383%28.9%0.29−45.9%0.38%$15B—
VGT TechnologyVanguard Information Technology ETF2/5 short0/3 long−4.2%+6.3%+19.1%+27.6%+26.7%+138%+133%+779%26.0%0.78−35.1%0.09%$178B—
XLK TechnologyState Street Technology Select Sector SPDR ETF2/5 short0/3 long−4.8%+5.7%+20.3%+29.0%+29.3%+131%+143%+767%26.0%0.82−33.6%0.08%$125B—
BOTZ InternationalGlobal X - Robotics & Artificial Intelligence ETF2/5 short0/3 long−6.2%−1.9%−10.4%−8.4%−8.9%+46.6%−9.5%+128%27.3%0.06−55.5%0.68%$3.2B—
SHOC TechnologyStrive U.S. Semiconductor ETF2/5 short0/3 long−9.5%−3.7%+12.3%+40.7%+50.8%+222%————−37.5%0.40%$218M—
XSD TechnologyState Street SPDR S&P Semiconductor ETF1/5 short0/3 long−10.0%−5.8%+11.5%+40.9%+35.0%+166%+132%+857%40.8%0.62−42.3%0.35%$2.7B—
PSI TechnologyInvesco Semiconductors ETF0/5 short0/3 long−12.9%−12.1%+3.7%+52.3%+68.1%+217%+196%+1,134%41.6%0.73−44.9%0.55%$2.8B—
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How did SOXX do year by year?

This table shows each investment's total return in every full calendar year since 2002, along with where SOXX ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with SOXX and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of SOXX; gray means the two finished within a fraction of a point. The rank row places SOXX among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of SOXX202520242023202220212020201920182017201620152014201320122011201020092008200720062005200420032002
SOXX This pageiShares Semiconductor ETF—+40.7%+12.9%+67.1%−35.1%+44.1%+52.7%+62.4%−6.5%+39.8%+38.3%−2.0%+29.8%+41.6%+6.6%−10.6%+14.3%+74.8%−51.7%−2.2%+0.2%+13.4%−14.3%+81.0%−47.9%
Rank among alternativesTop quarter in 7 of 215 of 129 of 122 of 127 of 112 of 106 of 103 of 106 of 104 of 102 of 88 of 84 of 81 of 86 of 85 of 75 of 72 of 77 of 76 of 75 of 61 of 5———
SPY S&P 500State Street SPDR S&P 500 ETF12 of 24+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%
SMH VanEck Semiconductor ETF13 of 24+49.2%+39.1%+73.4%−33.5%+42.1%+55.5%+64.5%−9.1%+38.5%+35.6%−0.3%+30.2%+33.4%+8.6%+6.8%+19.0%+60.5%−44.7%+6.0%−6.7%+10.8%−19.3%+87.3%−47.0%
SOXQ Invesco PHLX Semiconductor ETF2 of 4+43.1%+20.2%+66.8%−35.6%————————————————————
FTXL First Trust Nasdaq Semiconductor ETF2 of 9+48.9%+7.6%+54.4%−33.9%+36.0%+46.0%+61.8%−14.5%+32.2%———————————————
SKYY First Trust Cloud Computing ETF5 of 14+9.2%+35.9%+52.2%−44.7%+10.6%+57.8%+25.3%+6.6%+33.5%+15.2%+6.0%+7.4%+33.6%+15.5%——————————
IGV iShares Expanded Tech-Software Sector ETF12 of 24+5.6%+23.4%+58.6%−35.7%+12.3%+52.9%+34.3%+12.5%+42.1%+5.8%+12.2%+13.4%+30.6%+16.9%−7.3%+24.6%+47.6%−38.5%+15.7%+10.8%−5.5%+13.8%+50.3%−44.8%
VGT Vanguard Information Technology ETF9 of 21+21.8%+29.3%+52.7%−29.7%+30.5%+46.0%+48.6%+2.4%+37.1%+13.7%+5.0%+18.1%+30.9%+14.0%+0.6%+12.8%+61.6%−42.8%+14.7%+9.1%+3.1%———
XLK State Street Technology Select Sector SPDR ETF11 of 24+24.6%+21.6%+56.0%−27.7%+34.8%+43.6%+49.9%−1.7%+34.3%+15.0%+5.5%+17.9%+26.2%+15.4%+2.5%+11.5%+51.1%−41.5%+15.5%+12.2%−0.4%+5.6%+38.7%−38.2%
BOTZ Global X - Robotics & Artificial Intelligence ETF1 of 9+13.9%+12.3%+38.7%−42.7%+8.6%+51.9%+31.7%−28.3%+58.1%———————————————
SHOC Strive U.S. Semiconductor ETF2 of 3+49.9%+16.7%+62.0%—————————————————————
XSD State Street SPDR S&P Semiconductor ETF8 of 19+29.8%+10.8%+34.9%−30.9%+42.5%+62.0%+64.7%−6.3%+25.2%+29.4%+10.2%+31.1%+36.4%+2.4%−18.1%+15.7%+99.0%−47.7%−5.2%—————
PSI Invesco Semiconductors ETF10 of 20+36.3%+17.2%+49.0%−34.4%+46.5%+56.8%+52.5%−11.5%+40.2%+44.1%−0.9%+37.5%+31.9%+4.4%−14.5%+20.9%+47.0%−46.3%+0.4%+4.6%————
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Risk and diversification

How SOXX has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were SOXX's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents SOXX's five deepest drawdowns since it began trading in 2001, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means SOXX fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringSOXX fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−70.3%−30.1%Aug 2001Nov 20087.3 yearsJan 20145.2 years
2022 bear market−45.8%−24.2%Dec 2021Oct 202210 monthsDec 202314 months
No named crash−41.4%−10.7%Jul 2024Apr 20259 monthsSep 20255 months
Covid crash−34.3%−32.0%Feb 2020Mar 20201 monthJun 20203 months
No named crash−29.0%−2.0%Jun 2026Jul 20261 monthNot yet—

How did SOXX do in stock market crashes?

This section measures how far SOXX, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: SOXX began trading on July 13, 2001, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than SOXX.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
SOXX This pageiShares Semiconductor ETF—−3.9%−44.6%−34.3%−22.8%−7.4%−18.9%−19.8%−1.2%−65.7%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF7 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
SMH VanEck Semiconductor ETF4 of 9−3.6%−44.1%−33.6%−23.5%−7.4%−17.9%−18.6%−1.5%−59.2%—
SOXQ Invesco PHLX Semiconductor ETF0 of 2−4.1%−44.7%————————
FTXL First Trust Nasdaq Semiconductor ETF1 of 5−3.6%−42.7%−34.8%−23.4%−8.2%—————
SKYY First Trust Cloud Computing ETF4 of 7−6.9%−42.6%−33.0%−20.0%−6.7%−20.9%−23.2%———
IGV iShares Expanded Tech-Software Sector ETF5 of 9−4.9%−36.3%−30.3%−22.2%−6.2%−21.5%−22.4%−2.5%−49.8%—
VGT Vanguard Information Technology ETF6 of 9−3.5%−33.6%−31.8%−23.7%−6.6%−16.4%−18.1%−2.1%−54.6%—
XLK State Street Technology Select Sector SPDR ETF7 of 9−3.2%−32.4%−31.1%−23.8%−6.7%−12.7%−15.9%−2.1%−53.0%−82.0%
BOTZ Global X - Robotics & Artificial Intelligence ETF1 of 5−3.8%−49.7%−33.6%−30.5%−8.2%—————
SHOC Strive U.S. Semiconductor ETF0 of 1−3.9%—————————
XSD State Street SPDR S&P Semiconductor ETF3 of 9−4.8%−40.6%−35.9%−22.2%−8.1%−18.6%−27.5%−1.1%−63.5%—
PSI Invesco Semiconductors ETF2 of 9−4.2%−43.4%−36.6%−23.9%−8.2%−20.5%−30.2%−2.4%−59.2%—
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How closely does SOXX move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares SOXX with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than SOXX's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
SOXX This pageiShares Semiconductor ETF156%112%1.391.50
SMH VanEck Semiconductor ETF159%108%1.471.46
PSI Invesco Semiconductors ETF150%110%1.361.54
FTXL First Trust Nasdaq Semiconductor ETF146%108%1.341.47
XLK State Street Technology Select Sector SPDR ETF128%100%1.281.19
VGT Vanguard Information Technology ETF130%104%1.251.22
XSD State Street SPDR S&P Semiconductor ETF151%133%1.131.65
SKYY First Trust Cloud Computing ETF114%114%1.001.13
IGV iShares Expanded Tech-Software Sector ETF112%114%0.991.10
BOTZ Global X - Robotics & Artificial Intelligence ETF110%154%0.711.32
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What diversifies SOXX?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with SOXX's. Because such investments tend not to fall at the same time, pairing SOXX with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which SOXX lost money. The last two columns show a portfolio that is 80% SOXX and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe2022201820152011200820072004200280/20 mix volatility80/20 mix annual return
SOXX iShares Semiconductor ETF (this page)1.00+237%0.82−35.1%−6.5%−2.0%−10.6%−51.7%−2.2%−14.3%−47.9%37.8%+31.8%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.25+119%1.48+3.8%−5.2%——————30.7%+29.9%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.43+225%1.34+6.0%−19.8%+7.7%−16.1%−20.8%−7.4%——31.4%+31.9%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.24+101%1.04+10.4%−8.7%−25.3%—————31.0%+29.6%
EWP Broad MarketiShares MSCI Spain ETF0.33+140%0.97−5.2%−15.3%−15.6%−9.8%−36.8%+20.9%+30.2%−13.6%31.7%+30.7%
GLD CommoditiesSPDR Gold Shares0.04+126%0.96−0.8%−1.9%−10.7%+9.6%+4.9%+30.4%——30.5%+30.6%
XLE EnergyState Street Energy Select Sector SPDR ETF-0.02+177%0.93+64.4%−18.2%−21.5%+2.8%−39.0%+36.8%+33.8%−14.8%30.5%+32.0%
AMLP EnergyAlerian MLP ETF0.11+111%0.89+25.5%−12.6%−25.7%+10.2%————30.8%+30.5%
EFV InternationaliShares MSCI EAFE Value ETF0.39+89.0%0.88−5.2%−14.7%−5.9%−12.4%−41.7%+4.3%——31.5%+29.2%

Stocks

InvestmentCorrelation5Y returnSharpe2022201820152011200820072004200280/20 mix volatility80/20 mix annual return
SOXX iShares Semiconductor ETF (this page)1.00+237%0.82−35.1%−6.5%−2.0%−10.6%−51.7%−2.2%−14.3%−47.9%37.8%+31.8%
CAH Medical - DistributionCardinal Health, Inc.0.13+479%1.55+54.1%−24.5%+12.6%+8.1%−39.6%−9.8%−4.7%−8.3%31.3%+34.7%
MCK Medical - DistributionMcKesson Corporation-0.11+413%1.44+51.8%−28.4%−4.5%+11.8%−40.4%+29.7%−1.4%−27.2%30.0%+34.5%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.06+690%1.41+86.6%−8.2%+17.4%—————31.3%+37.3%
HWM Aerospace & DefenseHowmet Aerospace Inc.0.32+594%1.36+24.2%−37.5%−36.3%−42.9%−67.4%+26.4%−14.1%−33.1%33.1%+36.8%
ATI Manufacturing - Metal FabricationATI Inc.0.27+1,008%1.34+87.5%−9.8%−66.7%−12.2%−70.0%−4.2%+66.5%−60.8%34.0%+40.1%
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Common questions

What was SOXX's worst drawdown?

SOXX's deepest decline since it began trading in 2001 was 70.2%, from August 2001 to November 2008. It took about five years from the low to climb back to its old high.

What were SOXX's best and worst years?

Over 24 full calendar years, SOXX's best year was 2003, when it returned 81.0%. Its worst was 2008, with a return of -51.7%.

Is there a better investment than SOXX?

Among SOXX's popular alternatives, SMH earned more than SOXX with less volatility over the past 5 years: 33.4% a year at 36.9% volatility, against 27.5% a year at 38.9%. Looking beyond its popular alternatives, HPE (computer hardware) earned more than SOXX over the past 5 years with similar volatility: 32.9% a year at 42.2% volatility, against 27.5% a year at 38.9%.

Is SOXX more volatile than the S&P 500?

Yes. SOXX's volatility over the past 5 years was 38.9%, 2.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SOXX's return lands within 38.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is SOXX's Sharpe ratio?

SOXX's Sharpe ratio over the past 5 years was 0.82, against 0.79 for the S&P 500, so SOXX earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is SOXX with the S&P 500?

Over the past 5 years, SOXX's monthly returns had a correlation of 0.74 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against SOXX instead: the lower it is, the more that option would diversify a SOXX holding.

What are the best alternatives to SOXX?

None of the 11 popular alternatives we compared outperformed SOXX in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about SOXX's strength than about its alternatives.

Did SOXX outperform the S&P 500?

SOXX finished ahead of the S&P 500 (SPY) in 12 of 24 full calendar years. In 2025, it returned +40.7%, against +17.7% for the index.

How did SOXX do in stock market crashes?

SOXX fell less than the S&P 500 (SPY) in none of the nine major crashes it has traded through, and further in seven. The clearest case was the 2022 bear market, when SOXX fell 44.6% and the S&P 500 fell 24.5%.

What diversifies SOXX?

These had a low correlation with SOXX over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.25), DXJ (correlation 0.43) and EMLP (correlation 0.24); among large stocks, CAH (correlation 0.13), MCK (correlation -0.11) and MPC (correlation 0.06). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to SOXX

Other stocks and ETFs