TDIV.AS vs. SMH
TDIV.AS (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - TDIV.AS is a Global Equity Income fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 10 years, TDIV.AS returned 12.02%/yr vs 35.93%/yr for SMH. At a 0.28 correlation, their price movements are largely independent. TDIV.AS charges 0.38%/yr vs 0.35%/yr for SMH.
Performance
TDIV.AS vs. SMH - Performance Comparison
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Different Trading Currencies
TDIV.AS is traded in EUR, while SMH is traded in USD. To make them comparable, the SMH values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, TDIV.AS achieves a 9.89% return, which is significantly lower than SMH's 61.29% return. Over the past 10 years, TDIV.AS has underperformed SMH with an annualized return of 12.02%, while SMH has yielded a comparatively higher 35.93% annualized return.
TDIV.AS
- 1D
- 0.25%
- 1M
- 1.38%
- YTD
- 9.89%
- 6M
- 12.76%
- 1Y
- 24.86%
- 3Y*
- 19.97%
- 5Y*
- 17.52%
- 10Y*
- 12.02%
SMH
- 1D
- 0.00%
- 1M
- 2.87%
- YTD
- 61.29%
- 6M
- 56.63%
- 1Y
- 123.62%
- 3Y*
- 54.25%
- 5Y*
- 38.07%
- 10Y*
- 35.93%
TDIV.AS vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 9.89% | 24.40% | 15.98% | 10.91% | 16.18% | 27.85% | -10.17% | 20.97% | -7.12% | 2.88% |
SMH VanEck Semiconductor ETF | 61.29% | 31.47% | 48.28% | 68.18% | -29.41% | 52.76% | 42.71% | 68.17% | -4.78% | 21.46% |
Correlation
The correlation between TDIV.AS and SMH is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since May 24, 2016 | 0.28 |
The correlation between TDIV.AS and SMH shifts across timeframes, from 0.15 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TDIV.AS vs. SMH — Risk / Return Rank
TDIV.AS
SMH
TDIV.AS vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) and VanEck Semiconductor ETF (SMH). 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.
| TDIV.AS | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.57 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 7.19 | 10.07 | -2.88 |
| Martin ratioReturn relative to average drawdown | 19.93 | 34.13 | -14.20 |
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
| TDIV.AS | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.79 | 3.93 | -1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.43 | 1.11 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | 1.11 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 0.77 | +0.07 |
Drawdowns
TDIV.AS vs. SMH - Drawdown Comparison
The maximum TDIV.AS drawdown since its inception was -36.06%, smaller than the maximum SMH drawdown of -56.36%. Use the drawdown chart below to compare losses from any high point for TDIV.AS and SMH.
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Drawdown Indicators
| TDIV.AS | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.06% | -56.36% | +20.30% |
Max Drawdown (1Y)Largest decline over 1 year | -3.51% | -12.35% | +8.84% |
Max Drawdown (3Y)Largest decline over 3 years | -15.26% | -36.90% | +21.64% |
Max Drawdown (5Y)Largest decline over 5 years | -15.26% | -36.90% | +21.64% |
Max Drawdown (10Y)Largest decline over 10 years | -36.06% | -36.90% | +0.84% |
Current DrawdownCurrent decline from peak | -1.99% | -10.09% | +8.10% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -11.17% | +7.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 3.64% | -2.38% |
Volatility
TDIV.AS vs. SMH - Volatility Comparison
The current volatility for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) is 2.38%, while VanEck Semiconductor ETF (SMH) has a volatility of 13.88%. This indicates that TDIV.AS experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TDIV.AS | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.38% | 13.88% | -11.50% |
Volatility (6M)Calculated over the trailing 6-month period | 6.65% | 25.25% | -18.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.06% | 31.71% | -22.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.07% | 34.50% | -22.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.31% | 32.58% | -18.27% |
TDIV.AS vs. SMH - Expense Ratio Comparison
TDIV.AS has a 0.38% expense ratio, which is higher than SMH's 0.35% expense ratio.
Dividends
TDIV.AS vs. SMH - Dividend Comparison
TDIV.AS's dividend yield for the trailing twelve months is around 3.19%, more than SMH's 0.18% 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
TDIV.AS and SMH have a correlation of 0.15, 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.
TDIV.AS is categorized as Global Equity Income, while SMH is Semiconductors. TDIV.AS tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. Their fees differ too: 0.38% for TDIV.AS and 0.35% for SMH.
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