CESG.L vs. SMH.L
CESG.L (First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - CESG.L is a ESG fund actively managed by First Trust, while SMH.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index. CESG.L is actively managed, while SMH.L is passively managed. Over the past 5 years, CESG.L returned 5.33%/yr vs 35.65%/yr for SMH.L. At a 0.43 correlation, their price movements are largely independent. CESG.L charges 0.75%/yr vs 0.35%/yr for SMH.L.
Performance
CESG.L vs. SMH.L - Performance Comparison
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Returns By Period
In the year-to-date period, CESG.L achieves a 2.70% return, which is significantly lower than SMH.L's 76.50% return.
CESG.L
- 1D
- 0.11%
- 1M
- 2.28%
- 6M
- 2.77%
- YTD
- 2.70%
- 1Y
- 5.82%
- 3Y*
- 9.53%
- 5Y*
- 5.33%
- 10Y*
- —
SMH.L
- 1D
- -3.48%
- 1M
- -8.87%
- 6M
- 62.90%
- YTD
- 76.50%
- 1Y
- 124.23%
- 3Y*
- 54.24%
- 5Y*
- 35.65%
- 10Y*
- —
CESG.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CESG.L First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc | 2.70% | 11.47% | 9.71% | 12.32% | -13.97% | 23.33% |
SMH.L VanEck Semiconductor UCITS ETF | 76.50% | 49.20% | 24.11% | 75.94% | -35.54% | 39.81% |
Correlation
The correlation between CESG.L and SMH.L is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021 | 0.43 |
Over the past year, the correlation between CESG.L and SMH.L has dropped to 0.01 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
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Return for Risk
CESG.L vs. SMH.L — Risk / Return Rank
CESG.L
SMH.L
CESG.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc (CESG.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.
| CESG.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.86 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.47 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 8.88 | -8.33 |
| Martin ratioReturn relative to average drawdown | 1.42 | 27.77 | -26.35 |
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Drawdowns
CESG.L vs. SMH.L - Drawdown Comparison
The maximum CESG.L drawdown since its inception was -22.69%, smaller than the maximum SMH.L drawdown of -45.38%. Use the drawdown chart below to compare losses from any high point for CESG.L and SMH.L.
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Drawdown Indicators
| CESG.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.69% | -45.38% | +22.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.81% | -13.91% | +5.10% |
Max Drawdown (3Y)Largest decline over 3 years | -10.31% | -36.25% | +25.94% |
Max Drawdown (5Y)Largest decline over 5 years | -22.69% | -45.38% | +22.69% |
Current DrawdownCurrent decline from peak | -1.54% | -11.91% | +10.37% |
Average DrawdownAverage peak-to-trough decline | -5.52% | -11.12% | +5.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 4.46% | -1.05% |
Volatility
CESG.L vs. SMH.L - Volatility Comparison
The current volatility for First Trust Global Capital Strength ESG Leaders UCITS ETF Class A USD Acc (CESG.L) is 3.44%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 16.26%. This indicates that CESG.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
| CESG.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 16.26% | -12.82% |
Volatility (6M)Calculated over the trailing 6-month period | 8.01% | 30.80% | -22.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.97% | 36.96% | -26.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.62% | 33.56% | -20.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.53% | 32.93% | -20.40% |
CESG.L vs. SMH.L - Expense Ratio Comparison
CESG.L has a 0.75% expense ratio, which is higher than SMH.L's 0.35% expense ratio.
Dividends
CESG.L vs. SMH.L - Dividend Comparison
Neither CESG.L nor SMH.L has paid dividends to shareholders.
Frequently Asked Questions
CESG.L and SMH.L have a correlation of 0.01, 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 0.75% for CESG.L.
CESG.L is categorized as ESG, while SMH.L is Semiconductors. They also come from different issuers: First Trust and VanEck. Their fees differ too: 0.75% for CESG.L and 0.35% for SMH.L.
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