SMH.L vs. JEDG.L
SMH.L (VanEck Semiconductor UCITS ETF) and JEDG.L (VanEck Space Innovators UCITS ETF) are both exchange-traded funds - SMH.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index, while JEDG.L is a Industrials Equities fund tracking the MSCI World/Materials NR USD. Both are passively managed. Over the past 3 years, SMH.L returned 61.84%/yr vs 57.49%/yr for JEDG.L. At a 0.48 correlation, their price movements are largely independent. SMH.L charges 0.35%/yr vs 0.55%/yr for JEDG.L.
Performance
SMH.L vs. JEDG.L - Performance Comparison
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Different Trading Currencies
SMH.L is traded in USD, while JEDG.L is traded in GBP. To make them comparable, the JEDG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SMH.L achieves a 87.70% return, which is significantly higher than JEDG.L's 37.23% return.
SMH.L
- 1D
- -0.65%
- 1M
- 10.70%
- YTD
- 87.70%
- 6M
- 88.16%
- 1Y
- 154.67%
- 3Y*
- 61.84%
- 5Y*
- 36.71%
- 10Y*
- —
JEDG.L
- 1D
- 0.00%
- 1M
- -25.27%
- YTD
- 37.23%
- 6M
- 32.34%
- 1Y
- 104.26%
- 3Y*
- 57.49%
- 5Y*
- —
- 10Y*
- —
SMH.L vs. JEDG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SMH.L VanEck Semiconductor UCITS ETF | 87.70% | 49.20% | 24.11% | 75.94% | -2.90% |
JEDG.L VanEck Space Innovators UCITS ETF | 37.23% | 93.99% | 43.70% | 12.05% | -12.92% |
Correlation
The correlation between SMH.L and JEDG.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022 | 0.48 |
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Return for Risk
SMH.L vs. JEDG.L — Risk / Return Rank
SMH.L
JEDG.L
SMH.L vs. JEDG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor UCITS ETF (SMH.L) and VanEck Space Innovators UCITS ETF (JEDG.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.
| SMH.L | JEDG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.34 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 11.05 | 3.24 | +7.81 |
| Martin ratioReturn relative to average drawdown | 38.66 | 10.71 | +27.95 |
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Drawdowns
SMH.L vs. JEDG.L - Drawdown Comparison
The maximum SMH.L drawdown since its inception was -45.38%, which is greater than JEDG.L's maximum drawdown of -32.38%. Use the drawdown chart below to compare losses from any high point for SMH.L and JEDG.L.
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Drawdown Indicators
| SMH.L | JEDG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.38% | -32.38% | -13.00% |
Max Drawdown (1Y)Largest decline over 1 year | -13.91% | -32.38% | +18.47% |
Max Drawdown (3Y)Largest decline over 3 years | -36.25% | -32.38% | -3.87% |
Max Drawdown (5Y)Largest decline over 5 years | -45.38% | — | — |
Current DrawdownCurrent decline from peak | -6.27% | -32.38% | +26.11% |
Average DrawdownAverage peak-to-trough decline | -11.16% | -9.03% | -2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.98% | 9.77% | -5.79% |
Volatility
SMH.L vs. JEDG.L - Volatility Comparison
The current volatility for VanEck Semiconductor UCITS ETF (SMH.L) is 14.03%, while VanEck Space Innovators UCITS ETF (JEDG.L) has a volatility of 16.19%. This indicates that SMH.L experiences smaller price fluctuations and is considered to be less risky than JEDG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH.L | JEDG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.03% | 16.19% | -2.16% |
Volatility (6M)Calculated over the trailing 6-month period | 27.87% | 37.64% | -9.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.42% | 47.10% | -12.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.98% | 35.00% | -2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.54% | 35.00% | -2.46% |
SMH.L vs. JEDG.L - Expense Ratio Comparison
SMH.L has a 0.35% expense ratio, which is lower than JEDG.L's 0.55% expense ratio.
Dividends
SMH.L vs. JEDG.L - Dividend Comparison
Neither SMH.L nor JEDG.L has paid dividends to shareholders.
Frequently Asked Questions
SMH.L and JEDG.L have a correlation of 0.46, 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 0.55% for JEDG.L.
SMH.L is categorized as Semiconductors, while JEDG.L is Industrials Equities. SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index, while JEDG.L tracks MSCI World/Materials NR USD. Their fees differ too: 0.35% for SMH.L and 0.55% for JEDG.L.
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