SMH
VanEck Semiconductor ETF
VanEck Vectors Semiconductor is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance results of the VanEck Vectors US Listed Semiconductor 25 Index.
US
EQUITY
Passive
MANAGEMENT STYLE
23.9 B
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | Van Eck Associates Corp |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 20, 2011 |
| Assets (mns) | $23,937 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NVIDIA CORP | 21.4 % |
| TAIWAN SEMICONDUCTOR-SP ADR | 11.5 % |
| BROADCOM INC. | 9.6 % |
| ASML HOLDING NV-NY REG SHS | 4.7 % |
| ADVANCED MICRO DEVICES | 4.5 % |
| MICRON TECHNOLOGY INC | 4.5 % |
| APPLIED MATERIALS INC | 4.4 % |
| TEXAS INSTRUMENTS INC | 4.3 % |
| KLA CORPORATION | 4.3 % |
| QUALCOMM INC | 4.3 % |
Constituent Breakdown
| Number of holdings | 27 |
| Herfindahl-Hirschman Index | 899 |
| Wgt avg mkt cap (mns) | $772,144 |
| Large cap (>$10bn) | 99.0% |
| Mid cap ($2-10bn) | 1.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 87.5% |
| Emerging mkts. | 11.4% |
Country Exposure
 |
UNITED STATES | 81.0 % |
 |
TAIWAN | 11.5 % |
 |
NETHERLANDS | 6.5 % |
 |
SWITZERLAND | 0.9 % |
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -1.0% | -0.3% | 28.9% | 25.2% | 27.7% | 23.1% | -- | 22.9% |
| Dividend Yield | 0.0% | 0.4% | 0.7% | 0.9% | 0.9% | 1.4% | -- | 1.8% |
| Total Returns | -1.0% | 0.1% | 29.6% | 26.1% | 28.6% | 24.5% | -- | 24.7% | Ann. Volatility | 50.5% | 43.4% | 36.0% | 36.5% | 35.2% | 31.9% | -- | 29.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.64 | 69% |
| MSCI EAFE | 1.18 | 37% |
| MSCI Emg Mkts | 1.16 | 35% |
Liquidity Measures
| Avg. volume (000) | 7,603 |
| ADV traded (mns) | $1,954 |
| Turnover | 8.2% |
| Avg. Bid/Ask (% of price) | 0.01% |
Technical Indicators
| Recent close | $256.99 |
| 30d moving avg. | $234.30 |
| Annualized volatility | 33.3% |
| Relative strength (RSI) | 60 |
| Short interest | 13.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| SHOC | Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF | 81.9% | +5 bp | +3.8% |
| SOXQ | Invesco PHLX Semiconductor ETF | 78.2% | -16 bp | +4.9% |
| SOXX | iShares Semiconductor ETF | 71.4% | 0 bp | +5.3% |
| FTXL | First Trust Nasdaq Semiconductor ETF | 61.6% | +25 bp | +5.8% |
| PSI | Invesco Semiconductors ETF | 43.4% | +22 bp | +5.0% |
| QTEC | First Trust NASDAQ-100 Technology Sector Index Fund | 37.1% | +22 bp | +3.8% |
| TDIV | First Trust NASDAQ Technology Dividend Index Fund | 35.3% | +15 bp | +5.7% |
| XLK | Technology Select Sector SPDR Fund | 35.2% | -27 bp | +4.8% |
| IQM | Franklin Intelligent Machines ETF | 33.6% | +15 bp | +2.3% |
| VGT | Vanguard Information Technology ETF | 31.6% | -25 bp | +4.3% |
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/15/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
4.4%
Cat. Avg
5.9%
ALTAR Score™ Calculation
Category Overview
There are 935 funds in the US Equity category, with an average ALTAR Score™
of 5.9% and a standard deviation of
2.3%. 's ALTAR Score™ is approximately
0.7 standard deviations
below
the category average. This places in the 26th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SMHSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 192 |
| Avg. Expense Ratio | 31.0 bp |
| Std. Deviation | 25.7 bp |
| (35 bp) Percentile rank | 56 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| 35.0 | 0.0 | 35 | |
| Peer Avg. | 28.1 | 7.5 | 35.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .