TSWE.L vs. SMH.L
TSWE.L (VanEck World Equal Weight Screened UCITS ETF) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - TSWE.L is a Global Equities fund tracking the VanEck World Equal Weight Screened UCITS ETF, while SMH.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index. Both are passively managed. Over the past 5 years, TSWE.L returned 10.79%/yr vs 35.65%/yr for SMH.L. A 0.71 correlation means they provide meaningful diversification when combined. TSWE.L charges 0.20%/yr vs 0.35%/yr for SMH.L.
Performance
TSWE.L vs. SMH.L - Performance Comparison
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Returns By Period
In the year-to-date period, TSWE.L achieves a 13.54% return, which is significantly lower than SMH.L's 76.50% return.
TSWE.L
- 1D
- -0.01%
- 1M
- -0.24%
- 6M
- 11.06%
- YTD
- 13.54%
- 1Y
- 26.45%
- 3Y*
- 18.83%
- 5Y*
- 10.79%
- 10Y*
- 0.54%
SMH.L
- 1D
- -3.48%
- 1M
- -8.87%
- 6M
- 62.90%
- YTD
- 76.50%
- 1Y
- 124.23%
- 3Y*
- 54.24%
- 5Y*
- 35.65%
- 10Y*
- —
TSWE.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TSWE.L VanEck World Equal Weight Screened UCITS ETF | 13.54% | 27.64% | 9.78% | 20.41% | -17.42% | 22.23% | 6.13% |
SMH.L VanEck Semiconductor UCITS ETF | 76.50% | 49.20% | 24.11% | 75.94% | -35.54% | 42.75% | 4.36% |
Correlation
The correlation between TSWE.L and SMH.L is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020 | 0.71 |
The correlation between TSWE.L and SMH.L has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.
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Return for Risk
TSWE.L vs. SMH.L — Risk / Return Rank
TSWE.L
SMH.L
TSWE.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck World Equal Weight Screened UCITS ETF (TSWE.L) and VanEck Semiconductor UCITS ETF (SMH.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.
| TSWE.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.47 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 8.88 | -6.33 |
| Martin ratioReturn relative to average drawdown | 9.55 | 27.77 | -18.22 |
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Drawdowns
TSWE.L vs. SMH.L - Drawdown Comparison
The maximum TSWE.L drawdown since its inception was -76.86%, which is greater than SMH.L's maximum drawdown of -45.38%. Use the drawdown chart below to compare losses from any high point for TSWE.L and SMH.L.
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Drawdown Indicators
| TSWE.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.86% | -45.38% | -31.48% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -13.91% | +3.43% |
Max Drawdown (3Y)Largest decline over 3 years | -16.43% | -36.25% | +19.82% |
Max Drawdown (5Y)Largest decline over 5 years | -28.31% | -45.38% | +17.07% |
Max Drawdown (10Y)Largest decline over 10 years | -76.86% | — | — |
Current DrawdownCurrent decline from peak | -19.17% | -11.91% | -7.26% |
Average DrawdownAverage peak-to-trough decline | -31.89% | -11.12% | -20.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 4.46% | -1.66% |
Volatility
TSWE.L vs. SMH.L - Volatility Comparison
The current volatility for VanEck World Equal Weight Screened UCITS ETF (TSWE.L) is 3.58%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 16.26%. This indicates that TSWE.L experiences smaller price fluctuations and is considered to be less risky than SMH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSWE.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 16.26% | -12.68% |
Volatility (6M)Calculated over the trailing 6-month period | 12.95% | 30.80% | -17.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.26% | 36.96% | -21.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.19% | 33.56% | -17.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.67% | 32.93% | -5.26% |
TSWE.L vs. SMH.L - Expense Ratio Comparison
TSWE.L has a 0.20% expense ratio, which is lower than SMH.L's 0.35% expense ratio.
Dividends
TSWE.L vs. SMH.L - Dividend Comparison
TSWE.L's dividend yield for the trailing twelve months is around 1.81%, while SMH.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SMH.L VanEck Semiconductor UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TSWE.L VanEck World Equal Weight Screened UCITS ETF | 1.81% | 1.89% | 2.28% | 2.15% | 2.33% | 4.41% | 7.06% | 9.31% | 2.86% | 2.40% |
Frequently Asked Questions
TSWE.L and SMH.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TSWE.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TSWE.L is cheaper with a 0.20% expense ratio, compared with 0.35% for SMH.L.
TSWE.L is categorized as Global Equities, while SMH.L is Semiconductors. TSWE.L tracks VanEck World Equal Weight Screened UCITS ETF, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. Their fees differ too: 0.20% for TSWE.L and 0.35% for SMH.L.
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