SMH vs. XGLE.L
SMH (VanEck Semiconductor ETF) and XGLE.L (Xtrackers Eurozone Government Bond UCITS ETF 1C) are both exchange-traded funds - SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index, while XGLE.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 10 years, SMH returned 36.02%/yr vs -0.12%/yr for XGLE.L. At a 0.07 correlation, their price movements are largely independent. SMH charges 0.35%/yr vs 0.15%/yr for XGLE.L.
Performance
SMH vs. XGLE.L - Performance Comparison
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Different Trading Currencies
SMH is traded in USD, while XGLE.L is traded in EUR. To make them comparable, the XGLE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SMH achieves a 58.19% return, which is significantly higher than XGLE.L's -1.07% return. Over the past 10 years, SMH has outperformed XGLE.L with an annualized return of 36.02%, while XGLE.L has yielded a comparatively lower -0.12% annualized return.
SMH
- 1D
- -9.22%
- 1M
- 3.63%
- YTD
- 58.19%
- 6M
- 56.81%
- 1Y
- 127.40%
- 3Y*
- 58.39%
- 5Y*
- 36.10%
- 10Y*
- 36.02%
XGLE.L
- 1D
- 0.19%
- 1M
- -0.08%
- YTD
- -1.07%
- 6M
- -0.27%
- 1Y
- 1.67%
- 3Y*
- 5.14%
- 5Y*
- -3.19%
- 10Y*
- -0.12%
SMH vs. XGLE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 58.19% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
XGLE.L Xtrackers Eurozone Government Bond UCITS ETF 1C | -1.08% | 14.08% | -4.61% | 10.17% | -23.15% | -10.19% | 14.03% | 4.55% | -3.92% | 14.10% |
Correlation
The correlation between SMH and XGLE.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2009 | 0.07 |
The correlation between SMH and XGLE.L shifts across timeframes, from 0.07 (all time) to 0.20 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SMH vs. XGLE.L — Risk / Return Rank
SMH
XGLE.L
SMH vs. XGLE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Semiconductor ETF (SMH) and Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.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 | XGLE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.80 | ||
| Sortino ratioReturn per unit of downside risk | +3.78 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.04 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 8.58 | 0.26 | +8.32 |
| Martin ratioReturn relative to average drawdown | 32.42 | 0.68 | +31.74 |
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 | XGLE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.00 | 0.20 | +3.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.03 | -0.31 | +1.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.11 | -0.01 | +1.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.08 | +0.25 |
Drawdowns
SMH vs. XGLE.L - Drawdown Comparison
The maximum SMH drawdown since its inception was -84.96%, which is greater than XGLE.L's maximum drawdown of -37.96%. Use the drawdown chart below to compare losses from any high point for SMH and XGLE.L.
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Drawdown Indicators
| SMH | XGLE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.96% | -37.96% | -47.00% |
Max Drawdown (1Y)Largest decline over 1 year | -14.93% | -6.28% | -8.65% |
Max Drawdown (3Y)Largest decline over 3 years | -35.74% | -10.32% | -25.42% |
Max Drawdown (5Y)Largest decline over 5 years | -45.30% | -35.39% | -9.91% |
Max Drawdown (10Y)Largest decline over 10 years | -45.30% | -37.96% | -7.34% |
Current DrawdownCurrent decline from peak | -10.69% | -18.70% | +8.01% |
Average DrawdownAverage peak-to-trough decline | -41.08% | -12.48% | -28.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 2.45% | +1.49% |
Volatility
SMH vs. XGLE.L - Volatility Comparison
VanEck Semiconductor ETF (SMH) has a higher volatility of 14.88% compared to Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.L) at 2.62%. This indicates that SMH's price experiences larger fluctuations and is considered to be riskier than XGLE.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 | XGLE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.88% | 2.62% | +12.26% |
Volatility (6M)Calculated over the trailing 6-month period | 26.35% | 6.33% | +20.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.03% | 8.39% | +23.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.24% | 10.19% | +25.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.70% | 9.18% | +23.52% |
SMH vs. XGLE.L - Expense Ratio Comparison
SMH has a 0.35% expense ratio, which is higher than XGLE.L's 0.15% expense ratio.
Dividends
SMH vs. XGLE.L - Dividend Comparison
SMH's dividend yield for the trailing twelve months is around 0.19%, while XGLE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 0.19% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
XGLE.L Xtrackers Eurozone Government Bond UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMH and XGLE.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGLE.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGLE.L is cheaper with a 0.15% expense ratio, compared with 0.35% for SMH.
SMH is categorized as Semiconductors, while XGLE.L is European Government Bonds. SMH tracks MVIS US Listed Semiconductor 25 Index, while XGLE.L tracks Bloomberg Euro Agg Govt TR EUR. They also come from different issuers: VanEck and DWS. Their fees differ too: 0.35% for SMH and 0.15% for XGLE.L.
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