Extracting a subset of a given OWL ontology that captures all the ontology's knowledge about a specified set of terms is a well-understood task. This task can be based, for instance, on locality-based modules (LBMs). These come in two flavours, syntactic and semantic, and a syntactic LBM is known to contain the corresponding semantic LBM. For syntactic LBMs, polynomial extraction algorithms are known, implemented in the OWL API, and being used. In contrast, extracting semantic LBMs involves reasoning, which is intractable for OWL 2 DL, and these algorithms had not been implemented yet for expressive ontology languages. We present the first implementation of semantic LBMs and report on experiments that compare them with syntactic LBMs extracted from real-life ontologies. Our study reveals whether semantic LBMs are worth the additional extraction effort, compared with syntactic LBMs.