SEMI.AS vs. GRID

Last updated Jul 21, 2026

SEMI.AS (iShares MSCI Global Semiconductors UCITS ETF USD Acc) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - SEMI.AS is a Semiconductors fund tracking the MSCI ACWI IMI Semiconductors & Semiconductor Equipment ESG Screened Select Capped Index, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. Both are passively managed. Over the past 3 years, SEMI.AS returned 52.51%/yr vs 19.51%/yr for GRID. A 0.58 correlation means they provide meaningful diversification when combined. SEMI.AS charges 0.35%/yr vs 0.70%/yr for GRID.

Performance

SEMI.AS vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Semiconductors UCITS ETF USD Acc (SEMI.AS) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEMI.AS achieves a 77.21% return, which is significantly higher than GRID's 16.26% return.

SEMI.AS

• 1D: 2.15%
• 1M: -16.85%
• 6M: 57.97%
• YTD: 77.21%
• 1Y: 133.42%
• 3Y*: 52.51%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.00%

GRID

• 1D: -0.43%
• 1M: -8.67%
• 6M: 11.72%
• YTD: 16.26%
• 1Y: 25.15%
• 3Y*: 19.51%
• 5Y*: 14.88%
• 10Y*: 18.45%
• ALL TIME*: 12.44%

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

SEMI.AS vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SEMI.AS iShares MSCI Global Semiconductors UCITS ETF USD Acc	77.21%	52.80%	15.12%	65.80%	-35.80%	14.91%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	16.26%	29.65%	15.18%	21.57%	-13.89%	5.06%

Correlation

The correlation between SEMI.AS and GRID is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021	0.58

The correlation between SEMI.AS and GRID shifts across timeframes, from 0.58 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SEMI.AS vs. GRID — Risk / Return Rank

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

SEMI.AS

SEMI.AS Risk / Return Rank: 95
SEMI.AS Sharpe Ratio Rank: 97
SEMI.AS Sortino Ratio Rank: 93
SEMI.AS Omega Ratio Rank: 92
SEMI.AS Calmar Ratio Rank: 96
SEMI.AS Martin Ratio Rank: 96

GRID

GRID Risk / Return Rank: 46
GRID Sharpe Ratio Rank: 42
GRID Sortino Ratio Rank: 40
GRID Omega Ratio Rank: 41
GRID Calmar Ratio Rank: 57
GRID Martin Ratio Rank: 51

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.

SEMI.AS vs. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Semiconductors UCITS ETF USD Acc (SEMI.AS) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.

	SEMI.AS	GRID	Difference
Sharpe ratio: Return per unit of total volatility	3.41	1.15	+2.26
Sortino ratio: Return per unit of downside risk	3.68	1.62	+2.07
Omega ratio: Gain probability vs. loss probability	1.48	1.21	+0.27
Calmar ratio: Return relative to maximum drawdown	6.43	2.15	+4.27
Martin ratio: Return relative to average drawdown	24.70	6.50	+18.20

SEMI.AS vs. GRID - Sharpe Ratio Comparison

The current SEMI.AS Sharpe Ratio is 3.41, which is higher than the GRID Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of SEMI.AS and GRID, 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

SEMI.AS vs. GRID - Drawdown Comparison

The maximum SEMI.AS drawdown since its inception was -45.27%, which is greater than GRID's maximum drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for SEMI.AS and GRID.

Drawdown Indicators

	SEMI.AS	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-45.27%	-40.56%	-4.71%
Max Drawdown (1Y) Largest decline over 1 year	-20.40%	-11.73%	-8.67%
Max Drawdown (3Y) Largest decline over 3 years	-38.23%	-20.62%	-17.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.56%	—
Current Drawdown Current decline from peak	-18.69%	-11.01%	-7.68%
Average Drawdown Average peak-to-trough decline	-13.22%	-8.41%	-4.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.31%	3.88%	+1.43%

Volatility

SEMI.AS vs. GRID - Volatility Comparison

iShares MSCI Global Semiconductors UCITS ETF USD Acc (SEMI.AS) has a higher volatility of 18.20% compared to First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) at 8.76%. This indicates that SEMI.AS's price experiences larger fluctuations and is considered to be riskier than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEMI.AS	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.20%	8.76%	+9.44%
Volatility (6M) Calculated over the trailing 6-month period	32.75%	19.36%	+13.39%
Volatility (1Y) Calculated over the trailing 1-year period	38.54%	22.09%	+16.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.65%	21.51%	+11.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.65%	22.72%	+9.93%

SEMI.AS vs. GRID - Expense Ratio Comparison

SEMI.AS has a 0.35% expense ratio, which is lower than GRID's 0.70% expense ratio.

Dividends

SEMI.AS vs. GRID - Dividend Comparison

SEMI.AS has not paid dividends to shareholders, while GRID's dividend yield for the trailing twelve months is around 0.81%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.81%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%
SEMI.AS iShares MSCI Global Semiconductors UCITS ETF USD Acc	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 SEMI.AS and GRID in my portfolio?

SEMI.AS and GRID have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SEMI.AS or GRID?

On fees, SEMI.AS 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, SEMI.AS or GRID?

SEMI.AS is cheaper with a 0.35% expense ratio, compared with 0.70% for GRID.

What is the main difference between SEMI.AS and GRID?

SEMI.AS is categorized as Semiconductors, while GRID is Alternative Energy Equities. SEMI.AS tracks MSCI ACWI IMI Semiconductors & Semiconductor Equipment ESG Screened Select Capped Index, while GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.35% for SEMI.AS and 0.70% for GRID.