ISPE.L vs. SMH.L
ISPE.L (iShares S&P 500 Equal Weight UCITS ETF) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - ISPE.L is a Global Equities fund tracking the iShares S&P 500 Equal Weight 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 3 years, ISPE.L returned 12.67%/yr vs 52.56%/yr for SMH.L. At a 0.49 correlation, their price movements are largely independent. ISPE.L charges 0.17%/yr vs 0.35%/yr for SMH.L.
Performance
ISPE.L vs. SMH.L - Performance Comparison
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Different Trading Currencies
ISPE.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, ISPE.L achieves a 10.81% return, which is significantly lower than SMH.L's 75.78% return.
ISPE.L
- 1D
- -0.48%
- 1M
- -0.08%
- 6M
- 7.91%
- YTD
- 10.81%
- 1Y
- 17.47%
- 3Y*
- 12.67%
- 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*
- —
ISPE.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ISPE.L iShares S&P 500 Equal Weight UCITS ETF | 10.81% | 11.30% | 11.48% | 12.23% | -3.77% |
SMH.L VanEck Semiconductor UCITS ETF | 75.78% | 38.57% | 26.28% | 67.15% | -13.90% |
Correlation
The correlation between ISPE.L and SMH.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2022 | 0.49 |
The correlation between ISPE.L and SMH.L shifts across timeframes, from 0.38 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ISPE.L vs. SMH.L — Risk / Return Rank
ISPE.L
SMH.L
ISPE.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Equal Weight UCITS ETF (ISPE.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.
| ISPE.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.58 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.48 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 8.50 | -5.76 |
| Martin ratioReturn relative to average drawdown | 9.72 | 28.48 | -18.75 |
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Drawdowns
ISPE.L vs. SMH.L - Drawdown Comparison
The maximum ISPE.L drawdown since its inception was -18.22%, smaller than the maximum SMH.L drawdown of -36.36%. Use the drawdown chart below to compare losses from any high point for ISPE.L and SMH.L.
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Drawdown Indicators
| ISPE.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.22% | -36.36% | +18.14% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -14.25% | +7.35% |
Max Drawdown (3Y)Largest decline over 3 years | -18.22% | -36.36% | +18.14% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.36% | — |
Current DrawdownCurrent decline from peak | -1.01% | -13.65% | +12.64% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -9.75% | +6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 4.26% | -2.31% |
Volatility
ISPE.L vs. SMH.L - Volatility Comparison
The current volatility for iShares S&P 500 Equal Weight UCITS ETF (ISPE.L) is 2.86%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 16.49%. This indicates that ISPE.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
| ISPE.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 16.49% | -13.63% |
Volatility (6M)Calculated over the trailing 6-month period | 7.96% | 30.17% | -22.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.88% | 36.45% | -25.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.63% | 32.35% | -17.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.63% | 31.76% | -17.13% |
ISPE.L vs. SMH.L - Expense Ratio Comparison
ISPE.L has a 0.17% expense ratio, which is lower than SMH.L's 0.35% expense ratio.
Dividends
ISPE.L vs. SMH.L - Dividend Comparison
Neither ISPE.L nor SMH.L has paid dividends to shareholders.
Frequently Asked Questions
ISPE.L and SMH.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISPE.L is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISPE.L is cheaper with a 0.17% expense ratio, compared with 0.35% for SMH.L.
ISPE.L is categorized as Global Equities, while SMH.L is Semiconductors. ISPE.L tracks iShares S&P 500 Equal Weight UCITS ETF, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.17% for ISPE.L and 0.35% for SMH.L.
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