PRAC.L vs. SMH.L
PRAC.L (Invesco Preferred Shares UCITS ETF USD Acc) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - PRAC.L is a Global Equities fund tracking the Invesco Preferred Shares UCITS ETF USD Acc, 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, PRAC.L returned -1.71%/yr vs 35.65%/yr for SMH.L. At a 0.43 correlation, their price movements are largely independent. PRAC.L charges 0.50%/yr vs 0.35%/yr for SMH.L.
Performance
PRAC.L vs. SMH.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PRAC.L achieves a -0.60% return, which is significantly lower than SMH.L's 76.50% return.
PRAC.L
- 1D
- -0.02%
- 1M
- -0.21%
- 6M
- -1.78%
- YTD
- -0.60%
- 1Y
- 2.67%
- 3Y*
- 3.67%
- 5Y*
- -1.71%
- 10Y*
- —
SMH.L
- 1D
- -3.48%
- 1M
- -8.87%
- 6M
- 62.90%
- YTD
- 76.50%
- 1Y
- 124.23%
- 3Y*
- 54.24%
- 5Y*
- 35.65%
- 10Y*
- —
PRAC.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PRAC.L Invesco Preferred Shares UCITS ETF USD Acc | -0.60% | 2.50% | 4.73% | 9.42% | -21.50% | 2.76% | 1.20% |
SMH.L VanEck Semiconductor UCITS ETF | 76.50% | 49.20% | 24.11% | 75.94% | -35.54% | 42.75% | 4.36% |
Correlation
The correlation between PRAC.L and SMH.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020 | 0.43 |
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
PRAC.L vs. SMH.L — Risk / Return Rank
PRAC.L
SMH.L
PRAC.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Preferred Shares UCITS ETF USD Acc (PRAC.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.
| PRAC.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.09 | ||
| Sortino ratioReturn per unit of downside risk | -3.27 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.47 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | 8.88 | -8.46 |
| Martin ratioReturn relative to average drawdown | 0.83 | 27.77 | -26.94 |
Loading charts...
Drawdowns
PRAC.L vs. SMH.L - Drawdown Comparison
The maximum PRAC.L drawdown since its inception was -30.92%, smaller than the maximum SMH.L drawdown of -45.38%. Use the drawdown chart below to compare losses from any high point for PRAC.L and SMH.L.
Loading charts...
Drawdown Indicators
| PRAC.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.92% | -45.38% | +14.46% |
Max Drawdown (1Y)Largest decline over 1 year | -6.32% | -13.91% | +7.59% |
Max Drawdown (3Y)Largest decline over 3 years | -12.52% | -36.25% | +23.73% |
Max Drawdown (5Y)Largest decline over 5 years | -25.91% | -45.38% | +19.47% |
Current DrawdownCurrent decline from peak | -9.17% | -11.91% | +2.74% |
Average DrawdownAverage peak-to-trough decline | -8.28% | -11.12% | +2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 4.46% | -1.24% |
Volatility
PRAC.L vs. SMH.L - Volatility Comparison
The current volatility for Invesco Preferred Shares UCITS ETF USD Acc (PRAC.L) is 1.99%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 16.26%. This indicates that PRAC.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
| PRAC.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 16.26% | -14.27% |
Volatility (6M)Calculated over the trailing 6-month period | 7.73% | 30.80% | -23.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.50% | 36.96% | -26.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.23% | 33.56% | -22.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.77% | 32.93% | -19.16% |
PRAC.L vs. SMH.L - Expense Ratio Comparison
PRAC.L has a 0.50% expense ratio, which is higher than SMH.L's 0.35% expense ratio.
Dividends
PRAC.L vs. SMH.L - Dividend Comparison
Neither PRAC.L nor SMH.L has paid dividends to shareholders.
Frequently Asked Questions
PRAC.L and SMH.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SMH.L is cheaper with a 0.35% expense ratio, compared with 0.50% for PRAC.L.
PRAC.L is categorized as Global Equities, while SMH.L is Semiconductors. PRAC.L tracks Invesco Preferred Shares UCITS ETF USD Acc, 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: 0.50% for PRAC.L and 0.35% for SMH.L.
Find the right allocation for PRAC.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