SMH.L vs. QWTM.L

Last updated Jun 25, 2026

SMH.L (VanEck Semiconductor UCITS ETF) and QWTM.L (WisdomTree Quantum Computing UCITS ETF - USD Acc) are both exchange-traded funds - SMH.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index, while QWTM.L is a Technology Equities fund tracking the WisdomTree Classiq Quantum Computing UCITS Index. Both are passively managed. A 0.67 correlation means they provide meaningful diversification when combined. SMH.L charges 0.35%/yr vs 0.50%/yr for QWTM.L.

Performance

SMH.L vs. QWTM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Semiconductor UCITS ETF (SMH.L) and WisdomTree Quantum Computing UCITS ETF - USD Acc (QWTM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SMH.L is traded in USD, while QWTM.L is traded in GBp. To make them comparable, the QWTM.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 QWTM.L's 42.72% 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*: —

QWTM.L

• 1D: 0.00%
• 1M: -4.00%
• YTD: 42.72%
• 6M: 37.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMH.L vs. QWTM.L - Yearly Performance Comparison

	2026 (YTD)	2025
SMH.L VanEck Semiconductor UCITS ETF	87.70%	27.33%
QWTM.L WisdomTree Quantum Computing UCITS ETF - USD Acc	42.72%	18.73%

Correlation

The correlation between SMH.L and QWTM.L is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 8, 2025	0.67

Return for Risk

SMH.L vs. QWTM.L — Risk / Return Rank

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

SMH.L

SMH.L Risk / Return Rank: 96
SMH.L Sharpe Ratio Rank: 98
SMH.L Sortino Ratio Rank: 95
SMH.L Omega Ratio Rank: 94
SMH.L Calmar Ratio Rank: 98
SMH.L Martin Ratio Rank: 97

QWTM.L

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SMH.L vs. QWTM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor UCITS ETF (SMH.L) and WisdomTree Quantum Computing UCITS ETF - USD Acc (QWTM.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	QWTM.L	Difference
Sharpe ratio: Return per unit of total volatility	4.49	—	—
Sortino ratio: Return per unit of downside risk	4.71	—	—
Omega ratio: Gain probability vs. loss probability	1.60	—	—
Calmar ratio: Return relative to maximum drawdown	11.05	—	—
Martin ratio: Return relative to average drawdown	38.66	—	—

Drawdowns

SMH.L vs. QWTM.L - Drawdown Comparison

The maximum SMH.L drawdown since its inception was -45.38%, which is greater than QWTM.L's maximum drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for SMH.L and QWTM.L.

Drawdown Indicators

	SMH.L	QWTM.L	Difference
Max Drawdown Largest peak-to-trough decline	-45.38%	-25.40%	-19.98%
Max Drawdown (1Y) Largest decline over 1 year	-13.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-36.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.38%	—	—
Current Drawdown Current decline from peak	-6.27%	-9.85%	+3.58%
Average Drawdown Average peak-to-trough decline	-11.16%	-10.32%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	—	—

Volatility

Volatility by Period

	SMH.L	QWTM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	27.87%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	34.42%	40.47%	-6.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.98%	40.47%	-7.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.54%	40.47%	-7.93%

SMH.L vs. QWTM.L - Expense Ratio Comparison

SMH.L has a 0.35% expense ratio, which is lower than QWTM.L's 0.50% expense ratio.

Dividends

SMH.L vs. QWTM.L - Dividend Comparison

Neither SMH.L nor QWTM.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SMH.L and QWTM.L in my portfolio?

SMH.L and QWTM.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMH.L or QWTM.L?

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.

Which ETF is cheaper, SMH.L or QWTM.L?

SMH.L is cheaper with a 0.35% expense ratio, compared with 0.50% for QWTM.L.

What is the main difference between SMH.L and QWTM.L?

SMH.L is categorized as Semiconductors, while QWTM.L is Technology Equities. SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index, while QWTM.L tracks WisdomTree Classiq Quantum Computing UCITS Index. They also come from different issuers: VanEck and WisdomTree. Their fees differ too: 0.35% for SMH.L and 0.50% for QWTM.L.