HIDD.L vs. SMH.L

Last updated Jul 16, 2026

HIDD.L (HSBC MSCI Indonesia UCITS ETF) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - HIDD.L is a Global Equities fund tracking the HSBC MSCI Indonesia UCITS ETF, 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, HIDD.L returned -7.25%/yr vs 35.65%/yr for SMH.L. At a 0.30 correlation, their price movements are largely independent. HIDD.L charges 0.50%/yr vs 0.35%/yr for SMH.L.

Performance

HIDD.L vs. SMH.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC MSCI Indonesia UCITS ETF (HIDD.L) and VanEck Semiconductor UCITS ETF (SMH.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIDD.L achieves a -36.42% return, which is significantly lower than SMH.L's 76.50% return.

HIDD.L

• 1D: 1.58%
• 1M: -4.14%
• 6M: -36.79%
• YTD: -36.42%
• 1Y: -35.17%
• 3Y*: -19.87%
• 5Y*: -7.25%
• 10Y*: -4.40%

SMH.L

• 1D: -3.48%
• 1M: -8.87%
• 6M: 62.90%
• YTD: 76.50%
• 1Y: 124.23%
• 3Y*: 54.24%
• 5Y*: 35.65%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HIDD.L HSBC MSCI Indonesia UCITS ETF	-36.42%	-1.93%	-13.92%	5.16%	3.01%	1.09%	6.91%
SMH.L VanEck Semiconductor UCITS ETF	76.50%	49.20%	24.11%	75.94%	-35.54%	42.75%	4.36%

Correlation

The correlation between HIDD.L and SMH.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020	0.30

The correlation between HIDD.L and SMH.L shifts across timeframes, from 0.16 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HIDD.L vs. SMH.L — Risk / Return Rank

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

HIDD.L

HIDD.L Risk / Return Rank: 1
HIDD.L Sharpe Ratio Rank: 0
HIDD.L Sortino Ratio Rank: 1
HIDD.L Omega Ratio Rank: 1
HIDD.L Calmar Ratio Rank: 3
HIDD.L Martin Ratio Rank: 0

SMH.L

SMH.L Risk / Return Rank: 95
SMH.L Sharpe Ratio Rank: 96
SMH.L Sortino Ratio Rank: 93
SMH.L Omega Ratio Rank: 91
SMH.L Calmar Ratio Rank: 97
SMH.L Martin Ratio Rank: 96

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.

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

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Indonesia UCITS ETF (HIDD.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.

	HIDD.L	SMH.L	Difference
Sharpe ratio: Return per unit of total volatility	-1.23	3.35	-4.58
Sortino ratio: Return per unit of downside risk	-1.83	3.71	-5.54
Omega ratio: Gain probability vs. loss probability	0.78	1.47	-0.69
Calmar ratio: Return relative to maximum drawdown	-0.73	8.88	-9.61
Martin ratio: Return relative to average drawdown	-1.71	27.77	-29.48

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

The current HIDD.L Sharpe Ratio is -1.23, which is lower than the SMH.L Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of HIDD.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

HIDD.L vs. SMH.L - Drawdown Comparison

The maximum HIDD.L drawdown since its inception was -57.94%, which is greater than SMH.L's maximum drawdown of -45.38%. Use the drawdown chart below to compare losses from any high point for HIDD.L and SMH.L.

Drawdown Indicators

	HIDD.L	SMH.L	Difference
Max Drawdown Largest peak-to-trough decline	-57.94%	-45.38%	-12.56%
Max Drawdown (1Y) Largest decline over 1 year	-48.39%	-13.91%	-34.48%
Max Drawdown (3Y) Largest decline over 3 years	-57.94%	-36.25%	-21.69%
Max Drawdown (5Y) Largest decline over 5 years	-57.94%	-45.38%	-12.56%
Max Drawdown (10Y) Largest decline over 10 years	-57.94%	—	—
Current Drawdown Current decline from peak	-50.85%	-11.91%	-38.94%
Average Drawdown Average peak-to-trough decline	-17.98%	-11.12%	-6.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.75%	4.46%	+16.29%

Volatility

HIDD.L vs. SMH.L - Volatility Comparison

The current volatility for HSBC MSCI Indonesia UCITS ETF (HIDD.L) is 7.64%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 16.26%. This indicates that HIDD.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

	HIDD.L	SMH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	16.26%	-8.62%
Volatility (6M) Calculated over the trailing 6-month period	25.43%	30.80%	-5.37%
Volatility (1Y) Calculated over the trailing 1-year period	28.76%	36.96%	-8.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.26%	33.56%	-11.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	32.93%	-8.06%

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

HIDD.L has a 0.50% expense ratio, which is higher than SMH.L's 0.35% expense ratio.

Dividends

HIDD.L vs. SMH.L - Dividend Comparison

HIDD.L's dividend yield for the trailing twelve months is around 5.94%, while SMH.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HIDD.L HSBC MSCI Indonesia UCITS ETF	5.94%	4.73%	3.52%	3.47%	2.08%	1.30%	1.63%	1.54%	2.69%	1.10%	1.19%	1.67%
SMH.L VanEck Semiconductor UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

HIDD.L and SMH.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, SMH.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

SMH.L is cheaper with a 0.35% expense ratio, compared with 0.50% for HIDD.L.

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

HIDD.L is categorized as Global Equities, while SMH.L is Semiconductors. HIDD.L tracks HSBC MSCI Indonesia UCITS ETF, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: HSBC and VanEck. Their fees differ too: 0.50% for HIDD.L and 0.35% for SMH.L.