XNAQ.L vs. SMGB.L

Last updated Jun 14, 2026

XNAQ.L (Xtrackers Nasdaq 100 UCITS ETF 1C) and SMGB.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - XNAQ.L is a Nasdaq-100 fund tracking the Russell 1000 Growth TR USD, while SMGB.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index. Both are passively managed. Over the past 5 years, XNAQ.L returned 17.97%/yr vs 38.58%/yr for SMGB.L. Their correlation of 0.82 suggests significant overlap in exposure. XNAQ.L charges 0.20%/yr vs 0.35%/yr for SMGB.L.

Performance

XNAQ.L vs. SMGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) and VanEck Semiconductor UCITS ETF (SMGB.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XNAQ.L achieves a 17.14% return, which is significantly lower than SMGB.L's 87.48% return.

XNAQ.L

• 1D: 2.42%
• 1M: 0.57%
• YTD: 17.14%
• 6M: 17.33%
• 1Y: 38.43%
• 3Y*: 23.76%
• 5Y*: 17.97%
• 10Y*: —

SMGB.L

• 1D: 5.59%
• 1M: 11.03%
• YTD: 87.48%
• 6M: 89.61%
• 1Y: 168.08%
• 3Y*: 55.48%
• 5Y*: 38.58%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XNAQ.L vs. SMGB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XNAQ.L Xtrackers Nasdaq 100 UCITS ETF 1C	17.14%	11.72%	28.64%	47.82%	-25.44%	-8.88%
SMGB.L VanEck Semiconductor UCITS ETF	87.48%	38.79%	26.32%	66.15%	-27.78%	28.80%

Correlation

The correlation between XNAQ.L and SMGB.L is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021	0.82

The correlation between XNAQ.L and SMGB.L has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

XNAQ.L vs. SMGB.L - Sectors Allocation Comparison

Sectors	XNAQ.L	SMGB.L
Technology	53.7%	100.0%
Communication Services	15.8%	-
Consumer Cyclical	12.2%	-
Consumer Defensive	7.7%	-
Healthcare	4.2%	-
Industrials	3.1%	-
Utilities	1.4%	-
Basic Materials	1.1%	-
Energy	0.6%	-
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

XNAQ.L vs. SMGB.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XNAQ.L

XNAQ.L Risk / Return Rank: 78
XNAQ.L Sharpe Ratio Rank: 86
XNAQ.L Sortino Ratio Rank: 83
XNAQ.L Omega Ratio Rank: 83
XNAQ.L Calmar Ratio Rank: 76
XNAQ.L Martin Ratio Rank: 62

SMGB.L

SMGB.L Risk / Return Rank: 97
SMGB.L Sharpe Ratio Rank: 98
SMGB.L Sortino Ratio Rank: 96
SMGB.L Omega Ratio Rank: 95
SMGB.L Calmar Ratio Rank: 98
SMGB.L Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XNAQ.L vs. SMGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) and VanEck Semiconductor UCITS ETF (SMGB.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.

	XNAQ.L	SMGB.L	Difference
Sharpe ratio: Return per unit of total volatility	2.45	5.07	-2.63
Sortino ratio: Return per unit of downside risk	3.21	5.23	-2.01
Omega ratio: Gain probability vs. loss probability	1.43	1.68	-0.24
Calmar ratio: Return relative to maximum drawdown	3.40	13.71	-10.31
Martin ratio: Return relative to average drawdown	9.85	45.80	-35.95

XNAQ.L vs. SMGB.L - Sharpe Ratio Comparison

The current XNAQ.L Sharpe Ratio is 2.45, which is lower than the SMGB.L Sharpe Ratio of 5.07. The chart below compares the historical Sharpe Ratios of XNAQ.L and SMGB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XNAQ.L vs. SMGB.L - Drawdown Comparison

The maximum XNAQ.L drawdown since its inception was -34.26%, smaller than the maximum SMGB.L drawdown of -36.23%. Use the drawdown chart below to compare losses from any high point for XNAQ.L and SMGB.L.

Drawdown Indicators

	XNAQ.L	SMGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.26%	-36.23%	+1.97%
Max Drawdown (1Y) Largest decline over 1 year	-10.99%	-11.94%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	-24.55%	-36.23%	+11.68%
Max Drawdown (5Y) Largest decline over 5 years	-27.52%	-36.23%	+8.71%
Current Drawdown Current decline from peak	-2.90%	-1.44%	-1.46%
Average Drawdown Average peak-to-trough decline	-13.67%	-9.83%	-3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	3.58%	+0.22%

Volatility

XNAQ.L vs. SMGB.L - Volatility Comparison

The current volatility for Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) is 5.78%, while VanEck Semiconductor UCITS ETF (SMGB.L) has a volatility of 13.95%. This indicates that XNAQ.L experiences smaller price fluctuations and is considered to be less risky than SMGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XNAQ.L	SMGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.78%	13.95%	-8.17%
Volatility (6M) Calculated over the trailing 6-month period	11.20%	25.73%	-14.53%
Volatility (1Y) Calculated over the trailing 1-year period	15.32%	32.29%	-16.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.63%	30.70%	-7.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.98%	30.40%	-4.42%

XNAQ.L vs. SMGB.L - Expense Ratio Comparison

XNAQ.L has a 0.20% expense ratio, which is lower than SMGB.L's 0.35% expense ratio.

Dividends

XNAQ.L vs. SMGB.L - Dividend Comparison

Neither XNAQ.L nor SMGB.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XNAQ.L and SMGB.L in my portfolio?

XNAQ.L and SMGB.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XNAQ.L or SMGB.L?

On fees, XNAQ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XNAQ.L or SMGB.L?

XNAQ.L is cheaper with a 0.20% expense ratio, compared with 0.35% for SMGB.L.

What is the main difference between XNAQ.L and SMGB.L?

XNAQ.L is categorized as Nasdaq-100, while SMGB.L is Semiconductors. XNAQ.L tracks Russell 1000 Growth TR USD, while SMGB.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: Xtrackers and VanEck. Their fees differ too: 0.20% for XNAQ.L and 0.35% for SMGB.L.