AVGS.L vs. SMH.L
AVGS.L (Avantis Global Small Cap Value UCITS ETF USD Acc) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - AVGS.L is a Global Equities fund actively managed by Avantis, while SMH.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index. AVGS.L is actively managed, while SMH.L is passively managed. Over the past year, AVGS.L returned 37.10% vs 163.01% for SMH.L. A 0.54 correlation means they provide meaningful diversification when combined. AVGS.L charges 0.39%/yr vs 0.35%/yr for SMH.L.
Performance
AVGS.L vs. SMH.L - Performance Comparison
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Returns By Period
In the year-to-date period, AVGS.L achieves a 18.60% return, which is significantly lower than SMH.L's 88.70% return.
AVGS.L
- 1D
- -0.35%
- 1M
- 3.43%
- YTD
- 18.60%
- 6M
- 18.74%
- 1Y
- 37.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH.L
- 1D
- -2.57%
- 1M
- 15.71%
- YTD
- 88.70%
- 6M
- 96.06%
- 1Y
- 163.01%
- 3Y*
- 59.29%
- 5Y*
- 36.90%
- 10Y*
- —
AVGS.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AVGS.L Avantis Global Small Cap Value UCITS ETF USD Acc | 18.60% | 20.19% | -0.40% |
SMH.L VanEck Semiconductor UCITS ETF | 88.70% | 49.20% | -5.16% |
Correlation
The correlation between AVGS.L and SMH.L is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2024 | 0.54 |
The correlation between AVGS.L and SMH.L has been stable across timeframes, ranging from 0.52 to 0.54 - a consistent structural relationship.
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Return for Risk
AVGS.L vs. SMH.L — Risk / Return Rank
AVGS.L
SMH.L
AVGS.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Global Small Cap Value UCITS ETF USD Acc (AVGS.L) and VanEck Semiconductor UCITS ETF (SMH.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AVGS.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.64 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.52 | 11.65 | -7.13 |
| Martin ratioReturn relative to average drawdown | 15.85 | 41.09 | -25.23 |
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Drawdowns
AVGS.L vs. SMH.L - Drawdown Comparison
The maximum AVGS.L drawdown since its inception was -20.23%, smaller than the maximum SMH.L drawdown of -45.38%. Use the drawdown chart below to compare losses from any high point for AVGS.L and SMH.L.
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Drawdown Indicators
| AVGS.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.23% | -45.38% | +25.15% |
Max Drawdown (1Y)Largest decline over 1 year | -8.39% | -13.91% | +5.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -36.25% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.38% | — |
Current DrawdownCurrent decline from peak | -1.15% | -2.57% | +1.42% |
Average DrawdownAverage peak-to-trough decline | -2.91% | -11.20% | +8.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 3.95% | -1.56% |
Volatility
AVGS.L vs. SMH.L - Volatility Comparison
The current volatility for Avantis Global Small Cap Value UCITS ETF USD Acc (AVGS.L) is 4.29%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 14.42%. This indicates that AVGS.L experiences smaller price fluctuations and is considered to be less risky than SMH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVGS.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 14.42% | -10.13% |
Volatility (6M)Calculated over the trailing 6-month period | 10.61% | 27.56% | -16.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.77% | 33.84% | -19.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 32.88% | -15.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 32.48% | -15.49% |
AVGS.L vs. SMH.L - Expense Ratio Comparison
AVGS.L has a 0.39% expense ratio, which is higher than SMH.L's 0.35% expense ratio.
Dividends
AVGS.L vs. SMH.L - Dividend Comparison
Neither AVGS.L nor SMH.L has paid dividends to shareholders.
Frequently Asked Questions
AVGS.L and SMH.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMH.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMH.L is cheaper with a 0.35% expense ratio, compared with 0.39% for AVGS.L.
AVGS.L is categorized as Global Equities, while SMH.L is Semiconductors. They also come from different issuers: Avantis and VanEck. Their fees differ too: 0.39% for AVGS.L and 0.35% for SMH.L.
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