FTFX.L vs. SMH.L
FTFX.L (First Trust FactorFX UCITS ETF Class A USD) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - FTFX.L is a Global Equities fund tracking the First Trust FactorFX UCITS ETF Class A 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, FTFX.L returned 5.92%/yr vs 35.65%/yr for SMH.L. At a 0.18 correlation, their price movements are largely independent.
Performance
FTFX.L vs. SMH.L - Performance Comparison
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Returns By Period
In the year-to-date period, FTFX.L achieves a 6.72% return, which is significantly lower than SMH.L's 76.50% return.
FTFX.L
- 1D
- 0.81%
- 1M
- 2.12%
- 6M
- 6.59%
- YTD
- 6.72%
- 1Y
- 10.31%
- 3Y*
- 6.78%
- 5Y*
- 5.92%
- 10Y*
- —
SMH.L
- 1D
- -3.48%
- 1M
- -8.87%
- 6M
- 62.90%
- YTD
- 76.50%
- 1Y
- 124.23%
- 3Y*
- 54.24%
- 5Y*
- 35.65%
- 10Y*
- —
FTFX.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FTFX.L First Trust FactorFX UCITS ETF Class A USD | 6.72% | 8.14% | 7.93% | 9.97% | -1.13% | -3.43% | 2.24% |
SMH.L VanEck Semiconductor UCITS ETF | 76.50% | 49.20% | 24.11% | 75.94% | -35.54% | 42.75% | 4.36% |
Correlation
The correlation between FTFX.L and SMH.L is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020 | 0.18 |
The correlation between FTFX.L and SMH.L shifts across timeframes, from -0.04 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FTFX.L vs. SMH.L — Risk / Return Rank
FTFX.L
SMH.L
FTFX.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust FactorFX UCITS ETF Class A USD (FTFX.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.
| FTFX.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.47 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 8.88 | -5.58 |
| Martin ratioReturn relative to average drawdown | 10.01 | 27.77 | -17.76 |
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Drawdowns
FTFX.L vs. SMH.L - Drawdown Comparison
The maximum FTFX.L drawdown since its inception was -8.13%, smaller than the maximum SMH.L drawdown of -45.38%. Use the drawdown chart below to compare losses from any high point for FTFX.L and SMH.L.
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Drawdown Indicators
| FTFX.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.13% | -45.38% | +37.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -13.91% | +10.94% |
Max Drawdown (3Y)Largest decline over 3 years | -6.92% | -36.25% | +29.33% |
Max Drawdown (5Y)Largest decline over 5 years | -6.92% | -45.38% | +38.46% |
Current DrawdownCurrent decline from peak | 0.00% | -11.91% | +11.91% |
Average DrawdownAverage peak-to-trough decline | -2.08% | -11.12% | +9.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 4.46% | -3.48% |
Volatility
FTFX.L vs. SMH.L - Volatility Comparison
The current volatility for First Trust FactorFX UCITS ETF Class A USD (FTFX.L) is 1.26%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 16.26%. This indicates that FTFX.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
| FTFX.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 16.26% | -15.00% |
Volatility (6M)Calculated over the trailing 6-month period | 4.37% | 30.80% | -26.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.34% | 36.96% | -30.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.33% | 33.56% | -26.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.18% | 32.93% | -26.75% |
Dividends
FTFX.L vs. SMH.L - Dividend Comparison
Neither FTFX.L nor SMH.L has paid dividends to shareholders.
Frequently Asked Questions
FTFX.L and SMH.L have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTFX.L is categorized as Global Equities, while SMH.L is Semiconductors. FTFX.L tracks First Trust FactorFX UCITS ETF Class A USD, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: First Trust and VanEck.
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