SHLD.L vs. SMH.L
SHLD.L (iShares Digital Security UCITS ETF USD Dist) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - SHLD.L is a Technology Equities fund tracking the iShares Digital Security UCITS ETF USD Dist, 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, SHLD.L returned 9.32%/yr vs 35.65%/yr for SMH.L. A 0.68 correlation means they provide meaningful diversification when combined. SHLD.L charges 0.40%/yr vs 0.35%/yr for SMH.L.
Performance
SHLD.L vs. SMH.L - Performance Comparison
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Returns By Period
In the year-to-date period, SHLD.L achieves a 17.77% return, which is significantly lower than SMH.L's 76.50% return.
SHLD.L
- 1D
- 0.11%
- 1M
- 3.71%
- 6M
- 17.56%
- YTD
- 17.77%
- 1Y
- 25.07%
- 3Y*
- 19.63%
- 5Y*
- 9.32%
- 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*
- —
SHLD.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SHLD.L iShares Digital Security UCITS ETF USD Dist | 17.77% | 11.51% | 16.55% | 33.91% | -29.11% | 16.50% | 10.54% |
SMH.L VanEck Semiconductor UCITS ETF | 76.50% | 49.20% | 24.11% | 75.94% | -35.54% | 42.75% | 4.36% |
Correlation
The correlation between SHLD.L and SMH.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020 | 0.68 |
Over the past year, the correlation between SHLD.L and SMH.L has dropped to 0.48 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
SHLD.L vs. SMH.L — Risk / Return Rank
SHLD.L
SMH.L
SHLD.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Digital Security UCITS ETF USD Dist (SHLD.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.
| SHLD.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.47 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 8.88 | -6.65 |
| Martin ratioReturn relative to average drawdown | 4.84 | 27.77 | -22.93 |
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Drawdowns
SHLD.L vs. SMH.L - Drawdown Comparison
The maximum SHLD.L drawdown since its inception was -36.07%, smaller than the maximum SMH.L drawdown of -45.38%. Use the drawdown chart below to compare losses from any high point for SHLD.L and SMH.L.
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Drawdown Indicators
| SHLD.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.07% | -45.38% | +9.31% |
Max Drawdown (1Y)Largest decline over 1 year | -11.40% | -13.91% | +2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -36.25% | +13.53% |
Max Drawdown (5Y)Largest decline over 5 years | -36.07% | -45.38% | +9.31% |
Current DrawdownCurrent decline from peak | -4.38% | -11.91% | +7.53% |
Average DrawdownAverage peak-to-trough decline | -9.27% | -11.12% | +1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.27% | 4.46% | +0.81% |
Volatility
SHLD.L vs. SMH.L - Volatility Comparison
The current volatility for iShares Digital Security UCITS ETF USD Dist (SHLD.L) is 7.42%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 16.26%. This indicates that SHLD.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
| SHLD.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.42% | 16.26% | -8.84% |
Volatility (6M)Calculated over the trailing 6-month period | 18.10% | 30.80% | -12.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.64% | 36.96% | -15.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.39% | 33.56% | -12.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.23% | 32.93% | -11.70% |
SHLD.L vs. SMH.L - Expense Ratio Comparison
SHLD.L has a 0.40% expense ratio, which is higher than SMH.L's 0.35% expense ratio.
Dividends
SHLD.L vs. SMH.L - Dividend Comparison
SHLD.L's dividend yield for the trailing twelve months is around 0.35%, while SMH.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SHLD.L iShares Digital Security UCITS ETF USD Dist | 0.35% | 0.39% | 0.48% | 0.43% | 0.63% | 0.66% | 0.84% | 1.00% |
SMH.L VanEck Semiconductor UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SHLD.L and SMH.L have a correlation of 0.48, 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 0.40% for SHLD.L.
SHLD.L is categorized as Technology Equities, while SMH.L is Semiconductors. SHLD.L tracks iShares Digital Security UCITS ETF USD Dist, 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: 0.40% for SHLD.L and 0.35% for SMH.L.
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