ESGG.L vs. SMH.L

Last updated Jul 29, 2026

ESGG.L (Invesco MSCI World ESG Universal Screened UCITS ETF Acc) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - ESGG.L is a Global Equities fund tracking the MSCI ACWI NR USD, while SMH.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index. Both are passively managed. Over the past 5 years, ESGG.L returned 11.60%/yr vs 33.11%/yr for SMH.L. Their 0.73 correlation means they have sometimes moved together and sometimes differently. ESGG.L charges 0.19%/yr vs 0.35%/yr for SMH.L.

Performance

ESGG.L vs. SMH.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco MSCI World ESG Universal Screened UCITS ETF Acc (ESGG.L) and VanEck Semiconductor UCITS ETF (SMH.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ESGG.L is traded in GBp, while SMH.L is traded in USD. To make them comparable, the SMH.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, ESGG.L achieves a 10.54% return, which is significantly lower than SMH.L's 61.51% return.

ESGG.L

• 1D: 0.37%
• 1M: -0.10%
• 6M: 10.14%
• YTD: 10.54%
• 1Y: 19.35%
• 3Y*: 16.45%
• 5Y*: 11.60%
• 10Y*: —
• ALL TIME*: 9.86%

SMH.L

• 1D: -1.66%
• 1M: -16.12%
• 6M: 42.72%
• YTD: 61.51%
• 1Y: 105.77%
• 3Y*: 47.28%
• 5Y*: 33.11%
• 10Y*: —
• ALL TIME*: 33.09%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ESGG.L Invesco MSCI World ESG Universal Screened UCITS ETF Acc	£17.70K	£131.17K	£72.51K
SMH.L VanEck Semiconductor UCITS ETF	£27.78M	£31.45M	£42.27M

ESGG.L vs. SMH.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ESGG.L Invesco MSCI World ESG Universal Screened UCITS ETF Acc	10.54%	12.19%	20.44%	18.59%	-10.70%	24.45%	1.54%
SMH.L VanEck Semiconductor UCITS ETF	61.51%	38.57%	26.28%	67.15%	-27.87%	44.10%	2.52%

Correlation

The correlation between ESGG.L and SMH.L is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.74
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020	0.73

The correlation between ESGG.L and SMH.L has been stable across timeframes, ranging from 0.70 to 0.74 - a consistent structural relationship.

ESGG.L vs. SMH.L - Sectors Allocation Comparison

Sectors	ESGG.L	SMH.L
Technology	32.7%	100.0%
Financial Services	19.3%	-
Industrials	10.0%	-
Healthcare	9.4%	-
Consumer Cyclical	7.7%	-
Communication Services	6.4%	-
Consumer Defensive	4.8%	-
Basic Materials	3.2%	-
Energy	2.6%	-
Utilities	2.1%	-
Real Estate	2.0%	-

Return for Risk

ESGG.L vs. SMH.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESGG.L

ESGG.L Risk / Return Rank: 76
ESGG.L Sharpe Ratio Rank: 76
ESGG.L Sortino Ratio Rank: 75
ESGG.L Omega Ratio Rank: 76
ESGG.L Calmar Ratio Rank: 75
ESGG.L Martin Ratio Rank: 79

SMH.L

SMH.L Risk / Return Rank: 93
SMH.L Sharpe Ratio Rank: 95
SMH.L Sortino Ratio Rank: 91
SMH.L Omega Ratio Rank: 89
SMH.L Calmar Ratio Rank: 94
SMH.L Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ESGG.L vs. SMH.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World ESG Universal Screened UCITS ETF Acc (ESGG.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.

	ESGG.L	SMH.L	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.83	-1.10
Sortino ratio: Return per unit of downside risk	2.42	3.25	-0.83
Omega ratio: Gain probability vs. loss probability	1.32	1.42	-0.10
Calmar ratio: Return relative to maximum drawdown	2.71	5.09	-2.38
Martin ratio: Return relative to average drawdown	10.27	20.35	-10.09

ESGG.L vs. SMH.L - Sharpe Ratio Comparison

The current ESGG.L Sharpe Ratio is 1.73, which is lower than the SMH.L Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of ESGG.L and SMH.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ESGG.L vs. SMH.L - Drawdown Comparison

The maximum ESGG.L drawdown since its inception was -29.72%, smaller than the maximum SMH.L drawdown of -36.36%. Use the drawdown chart below to compare losses from any high point for ESGG.L and SMH.L.

Drawdown Indicators

	ESGG.L	SMH.L	Difference
Max Drawdown Largest peak-to-trough decline	-29.72%	-36.36%	+6.64%
Max Drawdown (1Y) Largest decline over 1 year	-7.11%	-20.66%	+13.55%
Max Drawdown (3Y) Largest decline over 3 years	-18.64%	-36.36%	+17.72%
Max Drawdown (5Y) Largest decline over 5 years	-18.64%	-36.36%	+17.72%
Current Drawdown Current decline from peak	-1.45%	-20.66%	+19.21%
Average Drawdown Average peak-to-trough decline	-5.53%	-9.79%	+4.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	5.18%	-3.30%

Volatility

ESGG.L vs. SMH.L - Volatility Comparison

The current volatility for Invesco MSCI World ESG Universal Screened UCITS ETF Acc (ESGG.L) is 3.26%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 17.06%. This indicates that ESGG.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.

Volatility by Period

	ESGG.L	SMH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	17.06%	-13.80%
Volatility (6M) Calculated over the trailing 6-month period	8.55%	31.14%	-22.59%
Volatility (1Y) Calculated over the trailing 1-year period	11.14%	37.24%	-26.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.54%	32.56%	-19.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	31.91%	-15.26%

ESGG.L vs. SMH.L - Expense Ratio Comparison

ESGG.L has a 0.19% expense ratio, which is lower than SMH.L's 0.35% expense ratio.

Dividends

ESGG.L vs. SMH.L - Dividend Comparison

Neither ESGG.L nor SMH.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ESGG.L and SMH.L in my portfolio?

ESGG.L and SMH.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESGG.L or SMH.L?

On fees, ESGG.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESGG.L or SMH.L?

ESGG.L is cheaper with a 0.19% expense ratio, compared with 0.35% for SMH.L.

What is the main difference between ESGG.L and SMH.L?

ESGG.L is categorized as Global Equities, while SMH.L is Semiconductors. ESGG.L tracks MSCI ACWI NR USD, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.19% for ESGG.L and 0.35% for SMH.L.