How Can I Beat the S&P 500? What the Evidence Says
The honest answer to the most asked question in investing: how many people beat the index, why it is so hard, why investors trail even their own funds, and how daily market context fits in.
ETFsInsight
SOXX ETF vs the S&P 500: Returns, Risk and Crash History
iShares Semiconductor ETF (market value $40.0 billion): how it compared with the S&P 500, how it behaved in every crash since 2008, its risk‑adjusted returns. Data as of Oct 30, 2026.
What changed since Oct 26
Exent re-checks this page every day.
+54.3% 1‑year return through Oct 30 (was +110.4%)
Key takeaways
- SOXX returned +209.6% over the 5 years to Oct 30, 2026 versus +75.9% for the S&P 500: it beat the index.
- Its 5-year Sharpe ratio was 0.68 against 0.58 for the S&P 500.
- Its deepest crisis drawdown was −65.9% in the global financial crisis (2007–09) (S&P 500: −56.5%).
- Five‑year volatility was 35.9% and beta 1.86.
What is your own portfolio exposed to? Check it with Exent →
In this article
- Did SOXX beat the S&P 500?
- Is SOXX good for retirement?
- SOXX returns by year vs the S&P 500
- SOXX risk-adjusted returns: Sharpe, Sortino and volatility
- How SOXX behaved in past crashes
- What moves with SOXX, and what doesn’t
- What does SOXX hold?
- The right benchmark for SOXX
- Other popular ETFs
- Data and methodology
Did SOXX beat the S&P 500?
Over the 5 years to Oct 30, 2026, iShares Semiconductor ETF (SOXX) returned +209.6% including dividends, versus +75.9% for the S&P 500 (SPY). It beat the index by 133.7 percentage points, or +25.4% a year against +12.0%.
| Period | SOXX | S&P 500 | SOXX per year | S&P 500 per year | Result |
|---|---|---|---|---|---|
| 1 year | +54.3% | +12.0% | +54.3% | +12.0% | Beat |
| 3 years | +225.3% | +87.4% | +48.2% | +23.3% | Beat |
| 5 years | +209.6% | +75.9% | +25.4% | +12.0% | Beat |
| 10 years | +1,295% | +316.3% | +30.2% | +15.3% | Beat |
- 1 year
- SOXX
- +54.3%
- S&P 500
- +12.0%
- SOXX per year
- +54.3%
- S&P 500 per year
- +12.0%
- Result
- Beat
- 3 years
- SOXX
- +225.3%
- S&P 500
- +87.4%
- SOXX per year
- +48.2%
- S&P 500 per year
- +23.3%
- Result
- Beat
- 5 years
- SOXX
- +209.6%
- S&P 500
- +75.9%
- SOXX per year
- +25.4%
- S&P 500 per year
- +12.0%
- Result
- Beat
- 10 years
- SOXX
- +1,295%
- S&P 500
- +316.3%
- SOXX per year
- +30.2%
- S&P 500 per year
- +15.3%
- Result
- Beat
Total return with dividends reinvested, from month-end prices to Oct 30, 2026. Beating the index on raw return is only half the story: the next section adjusts for the risk taken. See also how to beat the S&P 500.
Is SOXX good for retirement?
SOXX is not a core retirement holding. It is iShares Semiconductor: US-listed chip companies (NYSE Semiconductor Index). An industry fund with a 3-year beta of 2.06 and 37.9% standard deviation (iShares): a speculative satellite.
Pros
- Forward share split trades split-adjusted from Nov 5, 2026; the split is cosmetic.
Cons
- A 40.7% 5-year drawdown (Exent market data); about 30 stocks.
When it is the wrong choice: If you are near retirement: twice-the-market swings can wreck a withdrawal plan.
Similar ETFs to compare
| ETF | Expense ratio | Why consider it |
|---|---|---|
| SOXX | 0.33% | this fund |
| SMH | 0.35% | similar chip exposure |
| VGT | 0.09% | all of US tech, not just chips |
Fits: Investing for retirement in your 20s. How to choose: Best ETFs for Retirement in 2026: How to Choose by Age and Situation.
Source: the benchmark, NYSE Semiconductor Index, and the fund’s mechanics were checked on the iShares (BlackRock) SOXX fund page on Oct 25, 2026. Expense ratios are Exent market data as of Oct 25, 2026; returns and drawdowns quoted here are 5‑year monthly total returns to September 30, 2026 (Exent market data). Educational, not a recommendation for your situation.
SOXX returns by year vs the S&P 500
SOXX beat the S&P 500 in 6 of the 9 full calendar years shown.
| Year | SOXX | S&P 500 | Difference |
|---|---|---|---|
| 2026 (to Oct 30, 2026) | +56.8% | +11.7% | +45.1% |
| 2025 | +40.7% | +17.7% | +23.0% |
| 2024 | +12.9% | +24.9% | −12.0% |
| 2023 | +67.1% | +26.2% | +40.9% |
| 2022 | −35.1% | −18.2% | −16.9% |
| 2021 | +44.1% | +28.7% | +15.4% |
| 2020 | +52.7% | +18.3% | +34.4% |
| 2019 | +62.4% | +31.2% | +31.2% |
| 2018 | −6.5% | −4.6% | −1.9% |
| 2017 | +39.8% | +21.7% | +18.1% |
SOXX risk-adjusted returns: Sharpe, Sortino and volatility
Over 5 years, SOXX had a Sharpe ratio of 0.68 against 0.58 for the S&P 500, so it earned more return per unit of risk than the index. Its annualized volatility was 38.8% and its beta 1.86: it tended to move about 1.9× as much as the market.
| Metric | SOXX | S&P 500 |
|---|---|---|
| Annual return | +25.4% | +12.0% |
| Volatility (annualized) | 38.8% | 15.5% |
| Sharpe ratio | 0.68 | 0.58 |
| Sortino ratio | 1.22 | 0.91 |
| Max drawdown (month-end) | −40.7% | −23.9% |
| Beta to the S&P 500 | 1.86 | 1.00 |
Sharpe divides return above cash by total volatility; Sortino counts only downside volatility. Both use monthly returns and the 1–3 month T‑bill ETF (BIL) as the risk‑free rate.
How SOXX behaved in past crashes
SOXX’s deepest fall in the crises below was −65.9% in the global financial crisis (2007–09), against −56.5% for the S&P 500. The last column turns that into money: what a $100,000 position would have lost from peak to trough.
| Crisis | SOXX | S&P 500 | Loss on $100,000 |
|---|---|---|---|
| Global financial crisis (2007–09) | −65.9% | −56.5% | −$65,880 |
| 2018 trade-war selloff | −23.3% | −20.2% | −$23,260 |
| COVID crash (Feb–Mar 2020) | −34.3% | −34.1% | −$34,250 |
| 2022 inflation bear market | −45.2% | −25.4% | −$45,230 |
| 2025 tariff selloff | −33.0% | −19.0% | −$32,980 |
| Window | SOXX max drawdown |
|---|---|
| Last 1 year | −15.8% |
| Last 3 years | −41.4% |
| Last 5 years | −45.8% |
| Last 10 years | −46.2% |
Peak‑to‑trough declines from daily prices inside each crisis window. A crash replay does not predict the next crisis; it shows how much room a holding needs. Run the same replay on a whole portfolio with the crash test.
What moves with SOXX, and what doesn’t
Correlation runs from −1 (moves opposite) to +1 (moves in lockstep). Over the last 60 months of monthly returns, SOXX’s correlation with the S&P 500 was 0.74, with the Nasdaq‑100 0.87, with long Treasuries (TLT) 0.42 and with gold (GLD) 0.08.
Adding a 5% SOXX position to an S&P 500 portfolio would have moved its 5‑year volatility from 15.5% to 16.2%.
| Least correlated large caps | Correlation | Most correlated large caps | Correlation |
|---|---|---|---|
| CME | −0.28 | LRCX | 0.87 |
| COP | −0.21 | AMD | 0.85 |
| XOM | −0.21 | MRVL | 0.79 |
| LMT | −0.20 | MU | 0.78 |
| REGN | −0.17 | AMAT | 0.78 |
Holdings that are highly correlated behave like one position in a selloff. See how to find hidden overlap.
What does SOXX hold?
As of Oct 20, 2026, SOXX held 30 positions; its 10 largest made up 61.6% of the fund. The largest was AMD (Advanced Micro Devices, Inc.) at 9.25%. Of the popular ETF pairs Exent compares, SOXX overlaps most with SMH: 69.7% of their weight sits in the same stocks.
| Holding | Name | Weight |
|---|---|---|
| AMD | Advanced Micro Devices, Inc. | 9.25% |
| INTC | Intel Corporation | 8.32% |
| NVDA | NVIDIA Corporation | 7.95% |
| MU | Micron Technology, Inc. | 7.64% |
| AVGO | Broadcom Inc. | 7.31% |
| MRVL | Marvell Technology, Inc. | 4.53% |
| ADI | Analog Devices, Inc. | 4.40% |
| TXN | Texas Instruments Incorporated | 4.28% |
| QCOM | QUALCOMM Incorporated | 4.12% |
| KLAC | KLA Corporation | 3.84% |
| SOXX compared with | Overlap by weight | Shared holdings |
|---|---|---|
| SMH | 69.7% | 23 (77% of SOXX’s 30) |
From the fund’s latest published holdings. Overlap by weight adds up, for every stock both funds hold, the smaller of its two weights: 100% would mean the same portfolio. How much do VOO, QQQ and VTI overlap?
The right benchmark for SOXX
Exent matches every holding to the index with the most similar risk. For SOXX that is QQQ (the Nasdaq‑100). Comparing a holding with an index that carries very different risk makes good results look bad and risky ones look clever. Read why the S&P 500 is the wrong benchmark for most portfolios.
Other popular ETFs
| Ticker | Name | 5‑year return | Volatility (5y) |
|---|---|---|---|
| SPCX | SPAC and New Issue ETF | +455.5% | 8.3% |
| VTI | Vanguard Total Stock Market Index Fund ETF Shares | +68.1% | 17.4% |
| VOO | Vanguard S&P 500 ETF | +76.5% | 16.8% |
| IVV | iShares Core S&P 500 ETF | +76.5% | 16.9% |
| SPY | State Street SPDR S&P 500 ETF Trust | +75.9% | 17.0% |
| 1557.T | SPDR S&P 500 ETF Trust | +78.6% | 20.7% |
| VXUS | Vanguard Total Intl Stock Idx Fund | +47.5% | 16.0% |
| QQQ | Invesco QQQ Trust | +84.3% | 22.3% |
Data and methodology
Returns are total returns from month‑end adjusted closing prices (dividends reinvested) through Oct 30, 2026. Crisis drawdowns and trailing maximum drawdowns use daily prices. Analyst coverage counts ratings published in the last 12 months, shown with a 30‑day delay. Full method: Exent methodology.
Holdings and weights are the fund’s latest published holdings; ETF overlap compares those holdings stock by stock.
Past performance does not guarantee future results. Historical figures are calculated by Exent from market data and are for education only; they are not investment advice or a recommendation to buy or sell any security.
See what SOXX does to your own portfolio
- Upload a screenshot of your holdings (or a CSV, Excel, PDF or Google Sheet); no brokerage login.
- Exent replays your whole portfolio, SOXX included, through the 2008, 2018, 2020, 2022 and 2025 selloffs and shows which holdings drive the losses.
- It finds holdings that move together with SOXX and compares your portfolio with a risk‑matched benchmark, Sharpe and Sortino included.
- Use the what‑if simulator to change weights and see the effect before you trade.
Frequently asked questions
SOXX is not a core retirement holding. It is iShares Semiconductor: US-listed chip companies (NYSE Semiconductor Index). An industry fund with a 3-year beta of 2.06 and 37.9% standard deviation (iShares): a speculative satellite. It is a poor fit if you are near retirement: twice-the-market swings can wreck a withdrawal plan.
SOXX charges 0.33% a year. Lower-cost ETFs to compare: VGT at 0.09% (all of US tech, not just chips). Expense ratios as of Oct 25, 2026 (issuer data where available, otherwise Exent market data); check that the exposure, not just the fee, matches what you want.
Yes. SOXX returned +1,295% (+30.2% a year) over the 10 years to Oct 30, 2026, versus +316.3% (+15.3% a year) for the S&P 500, including dividends.
SOXX fell −65.9% from peak to trough during the global financial crisis (2007–09), versus −56.5% for the S&P 500.
SOXX fell −34.3% from peak to trough during the covid crash (feb–mar 2020), versus −34.1% for the S&P 500.
SOXX fell −45.2% from peak to trough during the 2022 inflation bear market, versus −25.4% for the S&P 500.
Over the 5 years to Oct 30, 2026, SOXX’s Sharpe ratio was 0.68 and its Sortino ratio 1.22, versus 0.58 and 0.91 for the S&P 500.
SOXX’s 5‑year annualized volatility was 35.9%, higher than the S&P 500’s 17.0%, with a beta of 1.86.
Among large US stocks, the lowest correlations with SOXX over the last 60 months were CME (−0.28), COP (−0.21), XOM (−0.21). Its correlation with long Treasuries (TLT) was 0.42 and with gold (GLD) 0.08.
Sources
- iShares Semiconductor ETF (SOXX) fund page — iShares (BlackRock), Oct 25, 2026
What would SOXX do to your portfolio?
Exent replays your whole portfolio through the same crashes, finds holdings that move together and compares you with a risk‑matched benchmark. Upload a screenshot; results in about a minute.
Check my portfolioLimited offer$1.95 for unlimited checks· unlimited checks
Educational content, not investment advice. Examples are illustrative; past performance does not guarantee future results.