FASA.L vs. SMH.L
FASA.L (Invesco Markets II PLC - Invesco FTSE All Share Screened & Tilted UCITS ETF Acc) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - FASA.L is a Global Equities fund tracking the Invesco Markets II PLC - Invesco FTSE All Share Screened & Tilted UCITS ETF Acc, while SMH.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index. Both are passively managed. Over the past 3 years, FASA.L returned 12.75%/yr vs 52.56%/yr for SMH.L. At a 0.35 correlation, their price movements are largely independent.
Performance
FASA.L vs. SMH.L - Performance Comparison
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Different Trading Currencies
FASA.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, FASA.L achieves a 4.29% return, which is significantly lower than SMH.L's 75.78% return.
FASA.L
- 1D
- 0.23%
- 1M
- 1.53%
- 6M
- 2.71%
- YTD
- 4.29%
- 1Y
- 15.40%
- 3Y*
- 12.75%
- 5Y*
- —
- 10Y*
- —
SMH.L
- 1D
- -4.48%
- 1M
- -9.67%
- 6M
- 61.91%
- YTD
- 75.78%
- 1Y
- 121.85%
- 3Y*
- 52.56%
- 5Y*
- 36.12%
- 10Y*
- —
FASA.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FASA.L Invesco Markets II PLC - Invesco FTSE All Share Screened & Tilted UCITS ETF Acc | 4.29% | 21.28% | 9.36% | 4.57% | -2.43% | 3.75% |
SMH.L VanEck Semiconductor UCITS ETF | 75.78% | 38.57% | 26.28% | 67.15% | -27.87% | 16.47% |
Correlation
The correlation between FASA.L and SMH.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2021 | 0.35 |
The correlation between FASA.L and SMH.L shifts across timeframes, from 0.21 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FASA.L vs. SMH.L — Risk / Return Rank
FASA.L
SMH.L
FASA.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Markets II PLC - Invesco FTSE All Share Screened & Tilted UCITS ETF Acc (FASA.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.
| FASA.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.48 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 8.50 | -7.08 |
| Martin ratioReturn relative to average drawdown | 4.47 | 28.48 | -24.00 |
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Drawdowns
FASA.L vs. SMH.L - Drawdown Comparison
The maximum FASA.L drawdown since its inception was -12.64%, smaller than the maximum SMH.L drawdown of -36.36%. Use the drawdown chart below to compare losses from any high point for FASA.L and SMH.L.
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Drawdown Indicators
| FASA.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.64% | -36.36% | +23.72% |
Max Drawdown (1Y)Largest decline over 1 year | -10.95% | -14.25% | +3.30% |
Max Drawdown (3Y)Largest decline over 3 years | -12.35% | -36.36% | +24.01% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.36% | — |
Current DrawdownCurrent decline from peak | -2.45% | -13.65% | +11.20% |
Average DrawdownAverage peak-to-trough decline | -3.12% | -9.75% | +6.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 4.26% | -0.76% |
Volatility
FASA.L vs. SMH.L - Volatility Comparison
The current volatility for Invesco Markets II PLC - Invesco FTSE All Share Screened & Tilted UCITS ETF Acc (FASA.L) is 3.42%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 16.49%. This indicates that FASA.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
| FASA.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 16.49% | -13.07% |
Volatility (6M)Calculated over the trailing 6-month period | 9.94% | 30.17% | -20.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.79% | 36.45% | -24.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.10% | 32.35% | -19.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.10% | 31.76% | -18.66% |
Dividends
FASA.L vs. SMH.L - Dividend Comparison
Neither FASA.L nor SMH.L has paid dividends to shareholders.
Frequently Asked Questions
FASA.L and SMH.L have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FASA.L is categorized as Global Equities, while SMH.L is Semiconductors. FASA.L tracks Invesco Markets II PLC - Invesco FTSE All Share Screened & Tilted UCITS ETF Acc, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: Invesco and VanEck.
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