DTLA.L vs. SMH
DTLA.L (iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc)) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - DTLA.L is a Government Bonds fund tracking the ICE US Treasury 20+ Year Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 5 years, DTLA.L returned -6.50%/yr vs 37.89%/yr for SMH. At a correlation of -0.06, they often move in opposite directions. DTLA.L charges 0.07%/yr vs 0.35%/yr for SMH.
Performance
DTLA.L vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, DTLA.L achieves a -1.94% return, which is significantly lower than SMH's 66.10% return.
DTLA.L
- 1D
- -0.44%
- 1M
- -1.08%
- YTD
- -1.94%
- 6M
- -0.87%
- 1Y
- 3.64%
- 3Y*
- -1.76%
- 5Y*
- -6.50%
- 10Y*
- —
SMH
- 1D
- 5.00%
- 1M
- 5.58%
- YTD
- 66.10%
- 6M
- 62.81%
- 1Y
- 137.42%
- 3Y*
- 60.43%
- 5Y*
- 37.89%
- 10Y*
- 36.92%
DTLA.L vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DTLA.L iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) | -1.94% | 4.49% | -6.90% | 1.69% | -30.29% | -4.46% | 17.00% | 15.69% | 3.65% |
SMH VanEck Semiconductor ETF | 66.10% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -14.05% |
Correlation
The correlation between DTLA.L and SMH 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 | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 10, 2018 | -0.06 |
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Return for Risk
DTLA.L vs. SMH — Risk / Return Rank
DTLA.L
SMH
DTLA.L vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) (DTLA.L) and VanEck Semiconductor ETF (SMH). 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.
| DTLA.L | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.91 | ||
| Sortino ratioReturn per unit of downside risk | -3.74 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.62 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 9.26 | -8.78 |
| Martin ratioReturn relative to average drawdown | 1.23 | 34.80 | -33.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DTLA.L | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.36 | 4.27 | -3.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 1.08 | -1.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.13 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.08 | 0.33 | -0.41 |
Drawdowns
DTLA.L vs. SMH - Drawdown Comparison
The maximum DTLA.L drawdown since its inception was -48.41%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for DTLA.L and SMH.
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Drawdown Indicators
| DTLA.L | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.41% | -84.96% | +36.55% |
Max Drawdown (1Y)Largest decline over 1 year | -7.50% | -14.93% | +7.43% |
Max Drawdown (3Y)Largest decline over 3 years | -18.57% | -35.74% | +17.17% |
Max Drawdown (5Y)Largest decline over 5 years | -42.80% | -45.30% | +2.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.30% | — |
Current DrawdownCurrent decline from peak | -41.04% | -6.23% | -34.81% |
Average DrawdownAverage peak-to-trough decline | -24.04% | -41.07% | +17.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 3.96% | -1.02% |
Volatility
DTLA.L vs. SMH - Volatility Comparison
The current volatility for iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) (DTLA.L) is 3.46%, while VanEck Semiconductor ETF (SMH) has a volatility of 15.45%. This indicates that DTLA.L experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DTLA.L | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 15.45% | -11.99% |
Volatility (6M)Calculated over the trailing 6-month period | 6.77% | 26.71% | -19.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.03% | 32.42% | -22.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.96% | 35.32% | -20.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.80% | 32.75% | -17.95% |
DTLA.L vs. SMH - Expense Ratio Comparison
DTLA.L has a 0.07% expense ratio, which is lower than SMH's 0.35% expense ratio.
Dividends
DTLA.L vs. SMH - Dividend Comparison
DTLA.L has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DTLA.L iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMH VanEck Semiconductor ETF | 0.18% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Frequently Asked Questions
DTLA.L and SMH 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, DTLA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DTLA.L is cheaper with a 0.07% expense ratio, compared with 0.35% for SMH.
DTLA.L is categorized as Government Bonds, while SMH is Semiconductors. DTLA.L tracks ICE US Treasury 20+ Year Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.07% for DTLA.L and 0.35% for SMH.
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