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FLCA vs. SMH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLCA vs. SMH

Last updated Jul 21, 2026
Documentation

FLCA (Franklin FTSE Canada ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - FLCA is a Canada Equities fund tracking the FTSE Canada RIC Capped Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 5 years, FLCA returned 12.40%/yr vs 34.99%/yr for SMH. A 0.51 correlation means they provide meaningful diversification when combined. FLCA charges 0.09%/yr vs 0.35%/yr for SMH.

Performance

FLCA vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Canada ETF (FLCA) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FLCA achieves a 9.25% return, which is significantly lower than SMH's 55.17% return.

FLCA

1D
-1.32%
1M
1.52%
6M
6.99%
YTD
9.25%
1Y
26.68%
3Y*
20.33%
5Y*
12.40%
10Y*
—
ALL TIME*
11.40%

SMH

1D
0.41%
1M
-15.31%
6M
39.57%
YTD
55.17%
1Y
93.09%
3Y*
54.43%
5Y*
34.99%
10Y*
34.79%
ALL TIME*
11.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLCA vs. SMH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLCA
Franklin FTSE Canada ETF		9.25%34.62%13.02%14.71%-11.93%28.67%6.31%28.42%-15.55%2.65%
SMH
VanEck Semiconductor ETF		55.17%49.17%39.10%73.38%-33.53%42.13%55.53%64.45%-9.05%-3.63%

Correlation

The correlation between FLCA and SMH is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

Correlation (3Y)
Calculated over the trailing 3-year period

0.45

Correlation (5Y)
Calculated over the trailing 5-year period

0.53

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2017

0.51

The correlation between FLCA and SMH shifts across timeframes, from 0.42 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.

FLCA vs. SMH - Sectors Allocation Comparison

Sectors
FLCA
SMH

Financial Services

41.4%

-

Energy

17.0%

-

Basic Materials

13.3%

-

Industrials

10.6%

-

Technology

8.2%
100.0%

Consumer Cyclical

3.4%

-

Consumer Defensive

2.9%

-

Utilities

2.3%

-

Communication Services

0.5%

-

Real Estate

0.2%

-

Healthcare

-

-

Financial Services

FLCA
41.4%
SMH

-

Energy

FLCA
17.0%
SMH

-

Basic Materials

FLCA
13.3%
SMH

-

Industrials

FLCA
10.6%
SMH

-

Technology

FLCA
8.2%
SMH
100.0%

Consumer Cyclical

FLCA
3.4%
SMH

-

Consumer Defensive

FLCA
2.9%
SMH

-

Utilities

FLCA
2.3%
SMH

-

Communication Services

FLCA
0.5%
SMH

-

Real Estate

FLCA
0.2%
SMH

-

Healthcare

FLCA

-

SMH

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Franklin FTSE Canada ETF

VanEck Semiconductor ETF

Often compared with FLCA:
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Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. XLKSMH vs. SMHX

Return for Risk

FLCA vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLCA
FLCA Risk / Return Rank: 7878
Overall Rank
FLCA Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
FLCA Sortino Ratio Rank: 7373
Sortino Ratio Rank
FLCA Omega Ratio Rank: 7575
Omega Ratio Rank
FLCA Calmar Ratio Rank: 8181
Calmar Ratio Rank
FLCA Martin Ratio Rank: 8484
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 9090
Overall Rank
SMH Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 8484
Sortino Ratio Rank
SMH Omega Ratio Rank: 8686
Omega Ratio Rank
SMH Calmar Ratio Rank: 9595
Calmar Ratio Rank
SMH Martin Ratio Rank: 9494
Martin Ratio Rank
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.

FLCA vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Canada ETF (FLCA) 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.

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.

FLCASMHDifference
Sharpe ratioReturn per unit of total volatility
1.88
2.53

-0.64

Sortino ratioReturn per unit of downside risk
2.48
2.87

-0.39

Omega ratioGain probability vs. loss probability

1.33

1.39

-0.06

Calmar ratioReturn relative to maximum drawdown

3.13

5.57

-2.44

Martin ratioReturn relative to average drawdown

12.24

18.66

-6.42

FLCA vs. SMH - Sharpe Ratio Comparison

The current FLCA Sharpe Ratio is 1.88, which is comparable to the SMH Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of FLCA and SMH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FLCA vs. SMH - Drawdown Comparison

The maximum FLCA drawdown since its inception was -41.51%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for FLCA and SMH.

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Drawdown Indicators

FLCASMHDifference

Max Drawdown

Largest peak-to-trough decline

-41.51%

-84.96%

+43.45%

Max Drawdown (1Y)

Largest decline over 1 year

-8.55%

-16.80%

+8.25%

Max Drawdown (3Y)

Largest decline over 3 years

-12.58%

-35.74%

+23.16%

Max Drawdown (5Y)

Largest decline over 5 years

-24.23%

-45.30%

+21.07%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.30%

—

Current Drawdown

Current decline from peak

-1.34%

-16.46%

+15.12%

Average Drawdown

Average peak-to-trough decline

-5.84%

-40.92%

+35.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.18%

5.01%

-2.83%

Volatility

FLCA vs. SMH - Volatility Comparison

The current volatility for Franklin FTSE Canada ETF (FLCA) is 2.49%, while VanEck Semiconductor ETF (SMH) has a volatility of 16.43%. This indicates that FLCA 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

FLCASMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.49%

16.43%

-13.94%

Volatility (6M)

Calculated over the trailing 6-month period

11.45%

31.63%

-20.18%

Volatility (1Y)

Calculated over the trailing 1-year period

14.24%

37.10%

-22.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.69%

36.22%

-19.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.96%

33.16%

-14.20%

FLCA vs. SMH - Expense Ratio Comparison

FLCA has a 0.09% expense ratio, which is lower than SMH's 0.35% expense ratio.

Dividends

FLCA vs. SMH - Dividend Comparison

FLCA's dividend yield for the trailing twelve months is around 1.76%, more than SMH's 0.20% yield.

PositionTTM20252024202320222021202020192018201720162015
FLCA
Franklin FTSE Canada ETF		1.76%1.85%2.50%2.49%2.20%2.02%2.49%2.29%3.03%0.09%0.00%0.00%
SMH
VanEck Semiconductor ETF		0.20%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

FLCA and SMH have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SMH has higher volatility (16.43%) compared to FLCA (2.49%). In terms of maximum drawdown, FLCA dropped -41.51% vs SMH's -84.96%.

On 5-year performance, SMH leads with 34.99% vs 12.40% for FLCA. On fees, FLCA is cheaper at 0.09% per year. On volatility, FLCA has been the lower-risk option at 2.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SMH has performed better with a 34.99% return vs 12.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLCA is cheaper with a 0.09% expense ratio, compared with 0.35% for SMH.

FLCA has the higher dividend yield at 1.76%, compared with 0.20% for SMH.

FLCA is categorized as Canada Equities, while SMH is Semiconductors. FLCA tracks FTSE Canada RIC Capped Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: Franklin Templeton and VanEck. Their fees differ too: 0.09% for FLCA and 0.35% for SMH.

SMH currently has the higher Sharpe Ratio (2.53 vs 1.88), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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