BSTZ vs SMH: Correlation
Measured on weekly returns over the past three years, BlackRock Science and Technology Term Trust (BSTZ) and VanEck Semiconductor ETF (SMH) carry a correlation of 0.77, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSTZ and SMH?
Over the past 3 years, BSTZ and SMH moved with a correlation of 0.77, which is strong. Recent behaviour matches the longer record: 0.78 over 1 year against 0.77 over 3. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 615.1 %².
By 3-year correlation, SMH places #5 of the 21 assets tracked against BSTZ. The last year tells two different stories: SMH led by 35.7 percentage points, +57.4% for BSTZ against +93.1% for SMH.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BSTZ vs SMH: side by side
| BSTZ (BlackRock Science and Technology Term Trust) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +57.4% | +93.1% |
| 5-year return | +31.6% | +332.8% |
| Volatility (ann.) | 23.7% | 33.7% |
| Beta vs S&P 500 | 1.19 | 1.91 |
| Max drawdown (3Y) | -25.3% | -35.7% |
| Market cap | $2.1B | – |
| P/E (trailing) | 6.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | BSTZ | SMH |
|---|---|---|
| 2022 | -55.3% | -33.5% |
| 2023 | +18.7% | +73.4% |
| 2024 | +37.5% | +39.1% |
| 2025 | +25.1% | +49.2% |
| 2026 | +44.7% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSTZ and SMH good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BSTZ and SMH?
The BSTZ/SMH correlation stands at 0.77 on a 3-year window (1 year: 0.78, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is SMH a good diversifier for BSTZ?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 mean?
On the −1 to +1 scale, 0.77 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bstz-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bstz-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BSTZ correlations · SMH correlations
