MWEQ.L vs. SMH.L
MWEQ.L (Invesco MSCI World Equal Weight UCITS ETF Acc) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - MWEQ.L is a Global Equities fund tracking the MSCI World Equal Weighted Net Total Return USD Index, while SMH.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index. Both are passively managed. Over the past year, MWEQ.L returned 17.85% vs 158.45% for SMH.L. A 0.55 correlation means they provide meaningful diversification when combined. MWEQ.L charges 0.20%/yr vs 0.35%/yr for SMH.L.
Performance
MWEQ.L vs. SMH.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MWEQ.L achieves a 7.27% return, which is significantly lower than SMH.L's 91.81% return.
MWEQ.L
- 1D
- 0.00%
- 1M
- -0.53%
- YTD
- 7.27%
- 6M
- 7.09%
- 1Y
- 17.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH.L
- 1D
- 2.19%
- 1M
- 9.15%
- YTD
- 91.81%
- 6M
- 92.28%
- 1Y
- 158.45%
- 3Y*
- 62.12%
- 5Y*
- 37.31%
- 10Y*
- —
MWEQ.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MWEQ.L Invesco MSCI World Equal Weight UCITS ETF Acc | 7.27% | 21.96% | 0.07% |
SMH.L VanEck Semiconductor UCITS ETF | 91.81% | 49.20% | 4.24% |
Correlation
The correlation between MWEQ.L and SMH.L is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024 | 0.55 |
The correlation between MWEQ.L and SMH.L has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MWEQ.L vs. SMH.L — Risk / Return Rank
MWEQ.L
SMH.L
MWEQ.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.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.
| MWEQ.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.17 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.61 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 11.32 | -9.27 |
| Martin ratioReturn relative to average drawdown | 7.82 | 39.52 | -31.69 |
Loading charts...
Drawdowns
MWEQ.L vs. SMH.L - Drawdown Comparison
The maximum MWEQ.L drawdown since its inception was -12.95%, smaller than the maximum SMH.L drawdown of -45.38%. Use the drawdown chart below to compare losses from any high point for MWEQ.L and SMH.L.
Loading charts...
Drawdown Indicators
| MWEQ.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.95% | -45.38% | +32.43% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -13.91% | +5.23% |
Max Drawdown (3Y)Largest decline over 3 years | — | -36.25% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.38% | — |
Current DrawdownCurrent decline from peak | -1.78% | -4.22% | +2.44% |
Average DrawdownAverage peak-to-trough decline | -1.66% | -11.16% | +9.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 3.99% | -1.71% |
Volatility
MWEQ.L vs. SMH.L - Volatility Comparison
The current volatility for Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) is 3.30%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 14.10%. This indicates that MWEQ.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.
Loading charts...
Volatility by Period
| MWEQ.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 14.10% | -10.80% |
Volatility (6M)Calculated over the trailing 6-month period | 10.08% | 27.92% | -17.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.60% | 34.30% | -21.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.04% | 33.00% | -18.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.04% | 32.54% | -18.50% |
MWEQ.L vs. SMH.L - Expense Ratio Comparison
MWEQ.L has a 0.20% expense ratio, which is lower than SMH.L's 0.35% expense ratio.
Dividends
MWEQ.L vs. SMH.L - Dividend Comparison
Neither MWEQ.L nor SMH.L has paid dividends to shareholders.
Frequently Asked Questions
MWEQ.L and SMH.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MWEQ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MWEQ.L is cheaper with a 0.20% expense ratio, compared with 0.35% for SMH.L.
MWEQ.L is categorized as Global Equities, while SMH.L is Semiconductors. MWEQ.L tracks MSCI World Equal Weighted Net Total Return USD Index, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.20% for MWEQ.L and 0.35% for SMH.L.
Find the right allocation for MWEQ.L and SMH.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer