MOAT.L vs. SMH.L

Last updated Jul 16, 2026

MOAT.L (VanEck Morningstar US Sustainable Wide Moat UCITS ETF) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - MOAT.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR 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, MOAT.L returned 3.69%/yr vs 35.65%/yr for SMH.L. A 0.61 correlation means they provide meaningful diversification when combined. MOAT.L charges 0.49%/yr vs 0.35%/yr for SMH.L.

Performance

MOAT.L vs. SMH.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar US Sustainable Wide Moat UCITS ETF (MOAT.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, MOAT.L achieves a 0.19% return, which is significantly lower than SMH.L's 76.50% return.

MOAT.L

• 1D: 1.33%
• 1M: 2.59%
• 6M: -1.76%
• YTD: 0.19%
• 1Y: 8.33%
• 3Y*: 7.77%
• 5Y*: 3.69%
• 10Y*: 10.71%

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)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MOAT.L VanEck Morningstar US Sustainable Wide Moat UCITS ETF	0.19%	7.34%	11.12%	18.37%	-18.70%	25.53%	2.61%
SMH.L VanEck Semiconductor UCITS ETF	76.50%	49.20%	24.11%	75.94%	-35.54%	42.75%	4.36%

Correlation

The correlation between MOAT.L and SMH.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020	0.61

Over the past year, the correlation between MOAT.L and SMH.L has dropped to 0.29 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

MOAT.L vs. SMH.L - Sectors Allocation Comparison

Sectors	MOAT.L	SMH.L
Technology	26.9%	100.0%
Healthcare	23.1%	-
Consumer Defensive	17.4%	-
Industrials	8.2%	-
Consumer Cyclical	7.3%	-
Financial Services	6.7%	-
Communication Services	6.0%	-
Basic Materials	4.0%	-
Real Estate	0.5%	-
Energy	-	-
Utilities	-	-

Return for Risk

MOAT.L vs. SMH.L — Risk / Return Rank

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

MOAT.L

MOAT.L Risk / Return Rank: 20
MOAT.L Sharpe Ratio Rank: 21
MOAT.L Sortino Ratio Rank: 21
MOAT.L Omega Ratio Rank: 18
MOAT.L Calmar Ratio Rank: 19
MOAT.L Martin Ratio Rank: 20

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.

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

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar US Sustainable Wide Moat UCITS ETF (MOAT.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.

	MOAT.L	SMH.L	Difference
Sharpe ratio: Return per unit of total volatility	0.59	3.35	-2.75
Sortino ratio: Return per unit of downside risk	0.98	3.71	-2.73
Omega ratio: Gain probability vs. loss probability	1.11	1.47	-0.37
Calmar ratio: Return relative to maximum drawdown	0.70	8.88	-8.18
Martin ratio: Return relative to average drawdown	1.75	27.77	-26.02

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

The current MOAT.L Sharpe Ratio is 0.59, which is lower than the SMH.L Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of MOAT.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

MOAT.L vs. SMH.L - Drawdown Comparison

The maximum MOAT.L drawdown since its inception was -32.78%, smaller than the maximum SMH.L drawdown of -45.38%. Use the drawdown chart below to compare losses from any high point for MOAT.L and SMH.L.

Drawdown Indicators

	MOAT.L	SMH.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.78%	-45.38%	+12.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.86%	-13.91%	+2.05%
Max Drawdown (3Y) Largest decline over 3 years	-21.84%	-36.25%	+14.41%
Max Drawdown (5Y) Largest decline over 5 years	-27.06%	-45.38%	+18.32%
Max Drawdown (10Y) Largest decline over 10 years	-32.78%	—	—
Current Drawdown Current decline from peak	-2.24%	-11.91%	+9.67%
Average Drawdown Average peak-to-trough decline	-5.55%	-11.12%	+5.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.74%	4.46%	+0.28%

Volatility

MOAT.L vs. SMH.L - Volatility Comparison

The current volatility for VanEck Morningstar US Sustainable Wide Moat UCITS ETF (MOAT.L) is 5.05%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 16.26%. This indicates that MOAT.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

	MOAT.L	SMH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	16.26%	-11.21%
Volatility (6M) Calculated over the trailing 6-month period	10.69%	30.80%	-20.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	36.96%	-22.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.47%	33.56%	-17.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	32.93%	-16.09%

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

MOAT.L has a 0.49% expense ratio, which is higher than SMH.L's 0.35% expense ratio.

Dividends

MOAT.L vs. SMH.L - Dividend Comparison

Neither MOAT.L nor SMH.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

MOAT.L and SMH.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

SMH.L is cheaper with a 0.35% expense ratio, compared with 0.49% for MOAT.L.

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

MOAT.L is categorized as Large Cap Blend Equities, while SMH.L is Semiconductors. MOAT.L tracks Russell 1000 TR USD, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. Their fees differ too: 0.49% for MOAT.L and 0.35% for SMH.L.