SMGB.L vs. TDGB.L

Last updated Jun 4, 2026

SMGB.L (VanEck Semiconductor UCITS ETF) and TDGB.L (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both exchange-traded funds - SMGB.L is a Semiconductors fund tracking the MSCI World/Information Tech NR USD, while TDGB.L is a Global Equities fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. Both are passively managed. Over the past 5 years, SMGB.L returned 39.09%/yr vs 17.22%/yr for TDGB.L. At a 0.31 correlation, their price movements are largely independent. SMGB.L charges 0.35%/yr vs 0.38%/yr for TDGB.L.

Performance

SMGB.L vs. TDGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck Semiconductor UCITS ETF (SMGB.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMGB.L achieves a 90.22% return, which is significantly higher than TDGB.L's 6.72% return.

SMGB.L

• 1D: 2.23%
• 1M: 32.14%
• YTD: 90.22%
• 6M: 89.77%
• 1Y: 183.52%
• 3Y*: 58.17%
• 5Y*: 39.09%
• 10Y*: —

TDGB.L

• 1D: -1.24%
• 1M: -2.11%
• YTD: 6.72%
• 6M: 9.95%
• 1Y: 26.79%
• 3Y*: 19.41%
• 5Y*: 17.22%
• 10Y*: —

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

SMGB.L vs. TDGB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SMGB.L VanEck Semiconductor UCITS ETF	90.22%	38.79%	26.31%	66.17%	-27.49%	44.41%	2.28%
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	6.72%	30.88%	10.65%	9.06%	22.49%	19.59%	-0.67%

Correlation

The correlation between SMGB.L and TDGB.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020	0.31

Over the past year, the correlation between SMGB.L and TDGB.L has dropped to 0.07 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.

SMGB.L vs. TDGB.L - Sectors Allocation Comparison

Sectors	SMGB.L	TDGB.L
Technology	100.0%	0.3%
Basic Materials	-	1.2%
Communication Services	-	8.7%
Consumer Cyclical	-	3.8%
Consumer Defensive	-	10.1%
Energy	-	19.7%
Financial Services	-	31.7%
Healthcare	-	14.4%
Industrials	-	3.9%
Real Estate	-	0.0%
Utilities	-	6.2%

Return for Risk

SMGB.L vs. TDGB.L — Risk / Return Rank

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

SMGB.L

SMGB.L Risk / Return Rank: 97
SMGB.L Sharpe Ratio Rank: 98
SMGB.L Sortino Ratio Rank: 97
SMGB.L Omega Ratio Rank: 96
SMGB.L Calmar Ratio Rank: 98
SMGB.L Martin Ratio Rank: 98

TDGB.L

TDGB.L Risk / Return Rank: 87
TDGB.L Sharpe Ratio Rank: 85
TDGB.L Sortino Ratio Rank: 86
TDGB.L Omega Ratio Rank: 85
TDGB.L Calmar Ratio Rank: 90
TDGB.L Martin Ratio Rank: 87

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.

SMGB.L vs. TDGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor UCITS ETF (SMGB.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.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.

	SMGB.L	TDGB.L	Difference
Sharpe ratio Return per unit of total volatility	5.92	2.85	+3.07
Sortino ratio Return per unit of downside risk	5.94	3.97	+1.97
Omega ratio Gain probability vs. loss probability	1.77	1.53	+0.24
Calmar ratio Return relative to maximum drawdown	15.28	5.72	+9.56
Martin ratio Return relative to average drawdown	53.62	18.82	+34.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMGB.L vs. TDGB.L - Sharpe Ratio Comparison

The current SMGB.L Sharpe Ratio is 5.92, which is higher than the TDGB.L Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of SMGB.L and TDGB.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.

Sharpe Ratios by Period

	SMGB.L	TDGB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.92	2.85	+3.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.29	1.51	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	0.96	+0.31

Drawdowns

SMGB.L vs. TDGB.L - Drawdown Comparison

The maximum SMGB.L drawdown since its inception was -36.24%, which is greater than TDGB.L's maximum drawdown of -29.60%. Use the drawdown chart below to compare losses from any high point for SMGB.L and TDGB.L.

Drawdown Indicators

	SMGB.L	TDGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.24%	-29.60%	-6.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.94%	-4.66%	-7.28%
Max Drawdown (3Y) Largest decline over 3 years	-36.24%	-12.41%	-23.83%
Max Drawdown (5Y) Largest decline over 5 years	-36.24%	-12.41%	-23.83%
Current Drawdown Current decline from peak	0.00%	-3.46%	+3.46%
Average Drawdown Average peak-to-trough decline	-9.76%	-3.70%	-6.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	1.42%	+1.99%

Volatility

SMGB.L vs. TDGB.L - Volatility Comparison

VanEck Semiconductor UCITS ETF (SMGB.L) has a higher volatility of 12.24% compared to VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) at 2.89%. This indicates that SMGB.L's price experiences larger fluctuations and is considered to be riskier than TDGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMGB.L	TDGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.24%	2.89%	+9.35%
Volatility (6M) Calculated over the trailing 6-month period	23.74%	7.13%	+16.61%
Volatility (1Y) Calculated over the trailing 1-year period	30.94%	9.37%	+21.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.43%	11.43%	+19.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.18%	14.45%	+15.73%

SMGB.L vs. TDGB.L - Expense Ratio Comparison

SMGB.L has a 0.35% expense ratio, which is lower than TDGB.L's 0.38% expense ratio.

Dividends

SMGB.L vs. TDGB.L - Dividend Comparison

SMGB.L has not paid dividends to shareholders, while TDGB.L's dividend yield for the trailing twelve months is around 3.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SMGB.L VanEck Semiconductor UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.44%	0.00%	0.00%	0.00%
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	3.34%	3.50%	4.27%	4.93%	4.40%	4.06%	4.16%	4.52%

Frequently Asked Questions

Can I hold both SMGB.L and TDGB.L in my portfolio?

SMGB.L and TDGB.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMGB.L or TDGB.L?

On fees, SMGB.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, SMGB.L or TDGB.L?

SMGB.L is cheaper with a 0.35% expense ratio, compared with 0.38% for TDGB.L.

What is the main difference between SMGB.L and TDGB.L?

SMGB.L is categorized as Semiconductors, while TDGB.L is Global Equities. SMGB.L tracks MSCI World/Information Tech NR USD, while TDGB.L tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. Their fees differ too: 0.35% for SMGB.L and 0.38% for TDGB.L.