ESIT.L vs. SMH.L

Last updated Jun 26, 2026

ESIT.L (iShares MSCI Europe Information Technology Sector UCITS ETF) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - ESIT.L is a Technology Equities fund tracking the MSCI World/Information Tech 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, ESIT.L returned 13.40%/yr vs 38.70%/yr for SMH.L. A 0.78 correlation means they provide meaningful diversification when combined. ESIT.L charges 0.18%/yr vs 0.35%/yr for SMH.L.

Performance

ESIT.L vs. SMH.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Europe Information Technology Sector UCITS ETF (ESIT.L) and VanEck Semiconductor UCITS ETF (SMH.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ESIT.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, ESIT.L achieves a 44.81% return, which is significantly lower than SMH.L's 95.82% return.

ESIT.L

• 1D: 0.76%
• 1M: 2.02%
• YTD: 44.81%
• 6M: 45.80%
• 1Y: 58.68%
• 3Y*: 24.15%
• 5Y*: 13.40%
• 10Y*: —

SMH.L

• 1D: 1.96%
• 1M: 11.22%
• YTD: 95.82%
• 6M: 96.78%
• 1Y: 167.51%
• 3Y*: 60.11%
• 5Y*: 38.70%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ESIT.L iShares MSCI Europe Information Technology Sector UCITS ETF	44.81%	14.73%	2.74%	32.37%	-24.43%	27.26%	5.57%
SMH.L VanEck Semiconductor UCITS ETF	95.82%	38.57%	26.28%	67.15%	-27.87%	44.10%	2.52%

Correlation

The correlation between ESIT.L and SMH.L is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020	0.78

The correlation between ESIT.L and SMH.L has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.

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

Sectors	ESIT.L	SMH.L
Technology	92.1%	100.0%
Communication Services	5.9%	-
Industrials	2.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

ESIT.L vs. SMH.L — Risk / Return Rank

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

ESIT.L

ESIT.L Risk / Return Rank: 80
ESIT.L Sharpe Ratio Rank: 82
ESIT.L Sortino Ratio Rank: 78
ESIT.L Omega Ratio Rank: 73
ESIT.L Calmar Ratio Rank: 90
ESIT.L Martin Ratio Rank: 75

SMH.L

SMH.L Risk / Return Rank: 97
SMH.L Sharpe Ratio Rank: 98
SMH.L Sortino Ratio Rank: 96
SMH.L Omega Ratio Rank: 94
SMH.L Calmar Ratio Rank: 98
SMH.L Martin Ratio Rank: 97

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Information Technology Sector UCITS ETF (ESIT.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.

	ESIT.L	SMH.L	Difference
Sharpe ratio: Return per unit of total volatility	2.29	4.94	-2.65
Sortino ratio: Return per unit of downside risk	3.04	5.03	-1.99
Omega ratio: Gain probability vs. loss probability	1.38	1.65	-0.28
Calmar ratio: Return relative to maximum drawdown	4.99	13.61	-8.62
Martin ratio: Return relative to average drawdown	12.41	45.15	-32.74

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

The current ESIT.L Sharpe Ratio is 2.29, which is lower than the SMH.L Sharpe Ratio of 4.94. The chart below compares the historical Sharpe Ratios of ESIT.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

ESIT.L vs. SMH.L - Drawdown Comparison

The maximum ESIT.L drawdown since its inception was -37.50%, roughly equal to the maximum SMH.L drawdown of -36.36%. Use the drawdown chart below to compare losses from any high point for ESIT.L and SMH.L.

Drawdown Indicators

	ESIT.L	SMH.L	Difference
Max Drawdown Largest peak-to-trough decline	-37.50%	-36.36%	-1.14%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-12.23%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-36.36%	+11.60%
Max Drawdown (5Y) Largest decline over 5 years	-37.50%	-36.36%	-1.14%
Current Drawdown Current decline from peak	-4.50%	-3.80%	-0.70%
Average Drawdown Average peak-to-trough decline	-11.53%	-9.76%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.71%	3.69%	+1.02%

Volatility

ESIT.L vs. SMH.L - Volatility Comparison

The current volatility for iShares MSCI Europe Information Technology Sector UCITS ETF (ESIT.L) is 9.71%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 13.95%. This indicates that ESIT.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

	ESIT.L	SMH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.71%	13.95%	-4.24%
Volatility (6M) Calculated over the trailing 6-month period	21.24%	27.08%	-5.84%
Volatility (1Y) Calculated over the trailing 1-year period	25.46%	33.68%	-8.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.66%	31.75%	-5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.44%	31.33%	-4.89%

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

ESIT.L has a 0.18% expense ratio, which is lower than SMH.L's 0.35% expense ratio.

Dividends

ESIT.L vs. SMH.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

ESIT.L and SMH.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, ESIT.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

ESIT.L is cheaper with a 0.18% expense ratio, compared with 0.35% for SMH.L.

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

ESIT.L is categorized as Technology Equities, while SMH.L is Semiconductors. ESIT.L tracks MSCI World/Information Tech NR USD, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.18% for ESIT.L and 0.35% for SMH.L.