He might have reached 5 consecutive Champions League semi finals but he failed to reach the final on each occasion.
If you compare the number of trophies he's won post-2010 with 'between 2004 and 2010', you will find that the numbers have dropped. Between 2004 and 2010, he won 11 trophies (excluding Community Shield, Italian Super Cup, Spanish Super Cup). Since then, he's won only 4.