SMH vs. DTLA.L
SMH (VanEck Semiconductor ETF) and DTLA.L (iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc)) are both exchange-traded funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while DTLA.L is a Government Bonds fund tracking the ICE US Treasury 20+ Year Index. Both are passively managed. Over the past 5 years, SMH returned 37.89%/yr vs -6.50%/yr for DTLA.L. At a correlation of -0.06, they often move in opposite directions. SMH charges 0.35%/yr vs 0.07%/yr for DTLA.L.
Performance
SMH vs. DTLA.L - Performance Comparison
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Returns By Period
In the year-to-date period, SMH achieves a 66.10% return, which is significantly higher than DTLA.L's -1.94% return.
SMH
- 1D
- 5.00%
- 1M
- 5.58%
- YTD
- 66.10%
- 6M
- 62.81%
- 1Y
- 137.42%
- 3Y*
- 60.43%
- 5Y*
- 37.89%
- 10Y*
- 36.92%
DTLA.L
- 1D
- -0.44%
- 1M
- -1.08%
- YTD
- -1.94%
- 6M
- -0.87%
- 1Y
- 3.64%
- 3Y*
- -1.76%
- 5Y*
- -6.50%
- 10Y*
- —
SMH vs. DTLA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 66.10% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -14.05% |
DTLA.L iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) | -1.94% | 4.49% | -6.90% | 1.69% | -30.29% | -4.46% | 17.00% | 15.69% | 3.65% |
Correlation
The correlation between SMH and DTLA.L is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 10, 2018 | -0.06 |
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Return for Risk
SMH vs. DTLA.L — Risk / Return Rank
SMH
DTLA.L
SMH vs. DTLA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) (DTLA.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.
| SMH | DTLA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.91 | ||
| Sortino ratioReturn per unit of downside risk | +3.74 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.07 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 9.26 | 0.48 | +8.78 |
| Martin ratioReturn relative to average drawdown | 34.80 | 1.23 | +33.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMH | DTLA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.27 | 0.36 | +3.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.08 | -0.44 | +1.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.13 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | -0.08 | +0.41 |
Drawdowns
SMH vs. DTLA.L - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than DTLA.L's maximum drawdown of -48.41%. Use the drawdown chart below to compare losses from any high point for SMH and DTLA.L.
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Drawdown Indicators
| SMH | DTLA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -48.41% | -36.55% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -7.50% | -7.43% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -18.57% | -17.17% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -42.80% | -2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | — | — |
Current DrawdownCurrent decline from peak | -6.23% | -41.04% | +34.81% |
Average DrawdownAverage peak-to-trough decline | -41.07% | -24.04% | -17.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.96% | 2.94% | +1.02% |
Volatility
SMH vs. DTLA.L - Volatility Comparison
VanEck Semiconductor ETF (SMH) has a higher volatility of 15.45% compared to iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) (DTLA.L) at 3.46%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than DTLA.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 | DTLA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.45% | 3.46% | +11.99% |
Volatility (6M)Calculated over the trailing 6-month period | 26.71% | 6.77% | +19.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.42% | 10.03% | +22.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.32% | 14.96% | +20.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.75% | 14.80% | +17.95% |
SMH vs. DTLA.L - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is higher than DTLA.L's 0.07% expense ratio.
Dividends
SMH vs. DTLA.L - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.18%, while DTLA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DTLA.L iShares USD Treasury Bond 20+yr 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% |
SMH VanEck Semiconductor ETF | 0.18% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Frequently Asked Questions
SMH and DTLA.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DTLA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DTLA.L is cheaper with a 0.07% expense ratio, compared with 0.35% for SMH.
SMH is categorized as Semiconductors, while DTLA.L is Government Bonds. SMH tracks MVIS US Listed Semiconductor 25 Index, while DTLA.L tracks ICE US Treasury 20+ Year Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.35% for SMH and 0.07% for DTLA.L.
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