XWEM.L vs. SMH.L
XWEM.L (Xtrackers MSCI World Momentum ESG UCITS ETF 1C) and SMH.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - XWEM.L is a Global Equities fund tracking the MSCI World Momentum Low Carbon SRI Screened Select, while SMH.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index. Both are passively managed. Over the past year, XWEM.L returned 36.83% vs 163.01% for SMH.L. A 0.78 correlation means they provide meaningful diversification when combined. XWEM.L charges 0.25%/yr vs 0.35%/yr for SMH.L.
Performance
XWEM.L vs. SMH.L - Performance Comparison
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Returns By Period
In the year-to-date period, XWEM.L achieves a 22.01% return, which is significantly lower than SMH.L's 88.70% return.
XWEM.L
- 1D
- -0.15%
- 1M
- 5.82%
- YTD
- 22.01%
- 6M
- 24.55%
- 1Y
- 36.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH.L
- 1D
- -2.57%
- 1M
- 15.71%
- YTD
- 88.70%
- 6M
- 96.06%
- 1Y
- 163.01%
- 3Y*
- 59.29%
- 5Y*
- 36.90%
- 10Y*
- —
XWEM.L vs. SMH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XWEM.L Xtrackers MSCI World Momentum ESG UCITS ETF 1C | 22.01% | 21.57% | 28.83% | 9.50% |
SMH.L VanEck Semiconductor UCITS ETF | 88.70% | 49.20% | 24.11% | 16.28% |
Correlation
The correlation between XWEM.L and SMH.L is 0.74, 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 | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jul 5, 2023 | 0.78 |
The correlation between XWEM.L and SMH.L has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.
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Return for Risk
XWEM.L vs. SMH.L — Risk / Return Rank
XWEM.L
SMH.L
XWEM.L vs. SMH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Momentum ESG UCITS ETF 1C (XWEM.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.
| XWEM.L | SMH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.64 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 11.65 | -8.53 |
| Martin ratioReturn relative to average drawdown | 13.39 | 41.09 | -27.69 |
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Drawdowns
XWEM.L vs. SMH.L - Drawdown Comparison
The maximum XWEM.L drawdown since its inception was -19.12%, smaller than the maximum SMH.L drawdown of -45.38%. Use the drawdown chart below to compare losses from any high point for XWEM.L and SMH.L.
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Drawdown Indicators
| XWEM.L | SMH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.12% | -45.38% | +26.26% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -13.91% | +2.14% |
Max Drawdown (3Y)Largest decline over 3 years | — | -36.25% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.38% | — |
Current DrawdownCurrent decline from peak | -0.15% | -2.57% | +2.42% |
Average DrawdownAverage peak-to-trough decline | -2.22% | -11.20% | +8.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 3.95% | -1.21% |
Volatility
XWEM.L vs. SMH.L - Volatility Comparison
The current volatility for Xtrackers MSCI World Momentum ESG UCITS ETF 1C (XWEM.L) is 6.17%, while VanEck Semiconductor UCITS ETF (SMH.L) has a volatility of 14.42%. This indicates that XWEM.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
| XWEM.L | SMH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.17% | 14.42% | -8.25% |
Volatility (6M)Calculated over the trailing 6-month period | 15.16% | 27.56% | -12.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.75% | 33.84% | -16.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 32.88% | -15.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.39% | 32.48% | -15.09% |
XWEM.L vs. SMH.L - Expense Ratio Comparison
XWEM.L has a 0.25% expense ratio, which is lower than SMH.L's 0.35% expense ratio.
Dividends
XWEM.L vs. SMH.L - Dividend Comparison
Neither XWEM.L nor SMH.L has paid dividends to shareholders.
Frequently Asked Questions
XWEM.L and SMH.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XWEM.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XWEM.L is cheaper with a 0.25% expense ratio, compared with 0.35% for SMH.L.
XWEM.L is categorized as Global Equities, while SMH.L is Semiconductors. XWEM.L tracks MSCI World Momentum Low Carbon SRI Screened Select, while SMH.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: Xtrackers and VanEck. Their fees differ too: 0.25% for XWEM.L and 0.35% for SMH.L.
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