WNRG.L vs. SMH.L
WNRG.L (State Street SPDR MSCI World Energy UCITS ETF) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - WNRG.L is a Global Equities fund tracking the State Street SPDR MSCI World Energy 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, WNRG.L returned 20.08%/yr vs 35.65%/yr for SMH.L. At a 0.24 correlation, their price movements are largely independent. WNRG.L charges 0.30%/yr vs 0.35%/yr for SMH.L.
Performance
WNRG.L vs. SMH.L - Performance Comparison
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Returns By Period
In the year-to-date period, WNRG.L achieves a 25.26% return, which is significantly lower than SMH.L's 76.50% return.
WNRG.L
- 1D
- 0.34%
- 1M
- 1.22%
- 6M
- 19.05%
- YTD
- 25.26%
- 1Y
- 33.56%
- 3Y*
- 16.08%
- 5Y*
- 20.08%
- 10Y*
- 8.57%
SMH.L
- 1D
- -3.48%
- 1M
- -8.87%
- 6M
- 62.90%
- YTD
- 76.50%
- 1Y
- 124.23%
- 3Y*
- 54.24%
- 5Y*
- 35.65%
- 10Y*
- —
WNRG.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
WNRG.L State Street SPDR MSCI World Energy UCITS ETF | 25.26% | 14.83% | 2.07% | 3.52% | 46.61% | 38.74% | 2.48% |
SMH.L VanEck Semiconductor UCITS ETF | 76.50% | 49.20% | 24.11% | 75.94% | -35.54% | 42.75% | 4.36% |
Correlation
The correlation between WNRG.L and SMH.L is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020 | 0.24 |
The correlation between WNRG.L and SMH.L shifts across timeframes, from -0.05 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WNRG.L vs. SMH.L — Risk / Return Rank
WNRG.L
SMH.L
WNRG.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI World Energy UCITS ETF (WNRG.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.
| WNRG.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.47 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 8.88 | -6.74 |
| Martin ratioReturn relative to average drawdown | 6.18 | 27.77 | -21.59 |
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Drawdowns
WNRG.L vs. SMH.L - Drawdown Comparison
The maximum WNRG.L drawdown since its inception was -68.72%, 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 WNRG.L and SMH.L.
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Drawdown Indicators
| WNRG.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.72% | -45.38% | -23.34% |
Max Drawdown (1Y)Largest decline over 1 year | -15.98% | -13.91% | -2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -18.94% | -36.25% | +17.31% |
Max Drawdown (5Y)Largest decline over 5 years | -26.55% | -45.38% | +18.83% |
Max Drawdown (10Y)Largest decline over 10 years | -63.92% | — | — |
Current DrawdownCurrent decline from peak | -9.97% | -11.91% | +1.94% |
Average DrawdownAverage peak-to-trough decline | -17.54% | -11.12% | -6.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.55% | 4.46% | +1.09% |
Volatility
WNRG.L vs. SMH.L - Volatility Comparison
The current volatility for State Street SPDR MSCI World Energy UCITS ETF (WNRG.L) is 6.79%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 16.26%. This indicates that WNRG.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
| WNRG.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.79% | 16.26% | -9.47% |
Volatility (6M)Calculated over the trailing 6-month period | 17.77% | 30.80% | -13.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.58% | 36.96% | -16.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.34% | 33.56% | -9.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.35% | 32.93% | +0.42% |
WNRG.L vs. SMH.L - Expense Ratio Comparison
WNRG.L has a 0.30% expense ratio, which is lower than SMH.L's 0.35% expense ratio.
Dividends
WNRG.L vs. SMH.L - Dividend Comparison
Neither WNRG.L nor SMH.L has paid dividends to shareholders.
Frequently Asked Questions
WNRG.L and SMH.L have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WNRG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WNRG.L is cheaper with a 0.30% expense ratio, compared with 0.35% for SMH.L.
WNRG.L is categorized as Global Equities, while SMH.L is Semiconductors. WNRG.L tracks State Street SPDR MSCI World Energy UCITS ETF, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.30% for WNRG.L and 0.35% for SMH.L.
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