GCLX.L vs. SMH
Compare and contrast key facts about Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) and VanEck Semiconductor ETF (SMH).
GCLX.L and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GCLX.L is a passively managed fund by Invesco that tracks the performance of the S&P Global Clean Energy TR USD. It was launched on Mar 1, 2021. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. Both GCLX.L and SMH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GCLX.L vs. SMH - Performance Comparison
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GCLX.L vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GCLX.L Invesco Global Clean Energy UCITS ETF Acc | 13.54% | 32.48% | -25.40% | -15.38% | -22.45% | -19.67% |
SMH VanEck Semiconductor ETF | 10.64% | 38.54% | 41.53% | 64.71% | -25.63% | 33.11% |
Different Trading Currencies
GCLX.L is traded in GBp, while SMH is traded in USD. To make them comparable, the SMH values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GCLX.L achieves a 13.54% return, which is significantly higher than SMH's 8.48% return.
GCLX.L
- 1D
- 2.15%
- 1M
- -1.14%
- YTD
- 13.54%
- 6M
- 20.07%
- 1Y
- 69.72%
- 3Y*
- -3.28%
- 5Y*
- -8.84%
- 10Y*
- —
SMH
- 1D
- 0.00%
- 1M
- -4.36%
- YTD
- 8.48%
- 6M
- 17.49%
- 1Y
- 76.88%
- 3Y*
- 40.18%
- 5Y*
- 26.72%
- 10Y*
- 32.25%
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GCLX.L vs. SMH - Expense Ratio Comparison
GCLX.L has a 0.60% expense ratio, which is higher than SMH's 0.35% expense ratio.
Return for Risk
GCLX.L vs. SMH — Risk / Return Rank
GCLX.L
SMH
GCLX.L vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) 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.
| GCLX.L | SMH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.18 | 2.10 | +1.08 |
Sortino ratioReturn per unit of downside risk | 3.82 | 2.72 | +1.10 |
Omega ratioGain probability vs. loss probability | 1.52 | 1.38 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 6.51 | 5.24 | +1.27 |
Martin ratioReturn relative to average drawdown | 20.94 | 17.89 | +3.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GCLX.L | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.18 | 2.10 | +1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | 0.81 | -1.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.02 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | 0.75 | -1.12 |
Correlation
The correlation between GCLX.L and SMH is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GCLX.L vs. SMH - Dividend Comparison
GCLX.L has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.28%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GCLX.L Invesco Global Clean Energy UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMH VanEck Semiconductor ETF | 0.28% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Drawdowns
GCLX.L vs. SMH - Drawdown Comparison
The maximum GCLX.L drawdown since its inception was -69.45%, which is greater than SMH's maximum drawdown of -47.21%. Use the drawdown chart below to compare losses from any high point for GCLX.L and SMH.
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Drawdown Indicators
| GCLX.L | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.45% | -84.96% | +15.51% |
Max Drawdown (1Y)Largest decline over 1 year | -12.46% | -15.95% | +3.49% |
Max Drawdown (5Y)Largest decline over 5 years | -68.40% | -45.30% | -23.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.30% | — |
Current DrawdownCurrent decline from peak | -40.85% | -8.02% | -32.83% |
Average DrawdownAverage peak-to-trough decline | -40.60% | -41.35% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | 4.47% | -1.15% |
Volatility
GCLX.L vs. SMH - Volatility Comparison
The current volatility for Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) is 5.76%, while VanEck Semiconductor ETF (SMH) has a volatility of 10.70%. This indicates that GCLX.L 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
| GCLX.L | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.76% | 10.70% | -4.94% |
Volatility (6M)Calculated over the trailing 6-month period | 15.51% | 23.28% | -7.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.82% | 36.78% | -14.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.77% | 33.22% | -7.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.24% | 31.65% | -5.41% |