SMH vs. TDIV.AS
SMH (VanEck Semiconductor ETF) and TDIV.AS (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both exchange-traded funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while TDIV.AS is a Global Equity Income fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. Both are passively managed. Over the past 10 years, SMH returned 36.92%/yr vs 12.27%/yr for TDIV.AS. At a 0.32 correlation, their price movements are largely independent. SMH charges 0.35%/yr vs 0.38%/yr for TDIV.AS.
Performance
SMH vs. TDIV.AS - Performance Comparison
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Different Trading Currencies
SMH is traded in USD, while TDIV.AS is traded in EUR. To make them comparable, the TDIV.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SMH achieves a 66.10% return, which is significantly higher than TDIV.AS's 8.63% return. Over the past 10 years, SMH has outperformed TDIV.AS with an annualized return of 36.92%, while TDIV.AS has yielded a comparatively lower 12.27% annualized 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%
TDIV.AS
- 1D
- 0.36%
- 1M
- -0.12%
- YTD
- 8.63%
- 6M
- 12.44%
- 1Y
- 27.25%
- 3Y*
- 23.23%
- 5Y*
- 16.43%
- 10Y*
- 12.27%
SMH vs. TDIV.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 66.10% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 8.63% | 41.12% | 8.81% | 14.42% | 9.20% | 19.14% | -2.22% | 18.62% | -11.46% | 17.43% |
Correlation
The correlation between SMH and TDIV.AS is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since May 24, 2016 | 0.32 |
The correlation between SMH and TDIV.AS shifts across timeframes, from 0.20 (1 year) to 0.32 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
SMH vs. TDIV.AS — Risk / Return Rank
SMH
TDIV.AS
SMH vs. TDIV.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS). 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 | TDIV.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.73 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.45 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 9.26 | 5.27 | +3.99 |
| Martin ratioReturn relative to average drawdown | 34.80 | 14.77 | +20.03 |
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 | TDIV.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.27 | 2.54 | +1.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.08 | 1.13 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.13 | 0.77 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.79 | -0.46 |
Drawdowns
SMH vs. TDIV.AS - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than TDIV.AS's maximum drawdown of -37.90%. Use the drawdown chart below to compare losses from any high point for SMH and TDIV.AS.
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Drawdown Indicators
| SMH | TDIV.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -37.90% | -47.06% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -5.20% | -9.73% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -14.68% | -21.06% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -18.23% | -27.07% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | -37.90% | -7.40% |
Current DrawdownCurrent decline from peak | -6.23% | -2.26% | -3.97% |
Average DrawdownAverage peak-to-trough decline | -41.07% | -4.76% | -36.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.96% | 1.86% | +2.10% |
Volatility
SMH vs. TDIV.AS - Volatility Comparison
VanEck Semiconductor ETF (SMH) has a higher volatility of 15.45% compared to VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) at 2.57%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than TDIV.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH | TDIV.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.45% | 2.57% | +12.88% |
Volatility (6M)Calculated over the trailing 6-month period | 26.71% | 7.88% | +18.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.42% | 10.79% | +21.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.32% | 14.35% | +20.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.75% | 15.67% | +17.08% |
SMH vs. TDIV.AS - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is lower than TDIV.AS's 0.38% expense ratio.
Dividends
SMH vs. TDIV.AS - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.18%, less than TDIV.AS's 3.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 3.19% | 3.58% | 4.19% | 4.98% | 4.55% | 3.98% | 4.12% | 4.40% | 4.93% | 3.95% | 1.11% | 0.00% |
Frequently Asked Questions
SMH and TDIV.AS have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMH is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMH is cheaper with a 0.35% expense ratio, compared with 0.38% for TDIV.AS.
SMH is categorized as Semiconductors, while TDIV.AS is Global Equity Income. SMH tracks MVIS US Listed Semiconductor 25 Index, while TDIV.AS tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. Their fees differ too: 0.35% for SMH and 0.38% for TDIV.AS.
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