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
$ 66.0 B
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Inception date | Dec 20, 2011 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Annually |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NVIDIA CORP | 20.6 % |
| TAIWAN SEMICONDUCTOR-SP ADR | 9.8 % |
| BROADCOM INC. | 5.5 % |
| ADVANCED MICRO DEVICES | 5.4 % |
| TEXAS INSTRUMENTS INC | 5.3 % |
| MICRON TECHNOLOGY INC | 4.7 % |
| ANALOG DEVICES INC | 4.6 % |
| ASML HOLDING NV-NY REG SHS | 4.5 % |
| MARVELL TECHNOLOGY, INC. | 4.5 % |
| QUALCOMM INC | 4.1 % |
Constituent Breakdown
| Number of holdings | 27 |
| Herfindahl-Hirschman Index | 800 |
| Wgt avg mkt cap (mns) | $1,707,805 |
| Large cap (>$10bn) | 96.2% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 86.4% |
| Emerging mkts. | 13.6% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 79.0 % |
 |
TAIWAN | 9.8 % |
 |
NETHERLANDS | 5.6 % |
 |
SOUTH KOREA | 3.8 % |
 |
BRITAIN | 0.9 % |
 |
SWITZERLAND | 0.9 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 69.1% | 86.6% | 57.5% | 61.4% | 36.6% | 33.2% | -- | 28.5% |
| Dividend Yield | 0.0% | 0.6% | 0.6% | 0.7% | 0.8% | 1.2% | -- | 1.7% |
| Total Returns | 69.1% | 87.2% | 58.1% | 62.1% | 37.4% | 34.4% | -- | 30.2% | Ann. Volatility | 42.3% | 40.0% | 38.5% | 37.1% | 36.8% | 33.5% | -- | 29.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 2.39 | 60% |
| MSCI EAFE | 1.62 | 41% |
| MSCI Emg Mkts | 1.35 | 74% |
Liquidity Measures
| Avg. volume (000) | 8,857 |
| ADV traded (mns) | $4,628 |
| Turnover | 7.0% |
| Avg. Bid/Ask (% of price) | 0.00% |
Technical Indicators
| 30d moving avg. (EMA) | $573.54 |
| Relative strength (RSI) | 41 |
| MACD/Signal | -13.99/-5.14 |
| Bollinger Bands (Upper/Lower) | $656.91/$514.18 |
| Short interest (% of AUM) | 13.2% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SMH |
Expenses vs. SMH |
ALTAR Score™ vs. SMH |
|---|---|---|---|---|
| SHOC | Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF | 82.2% | +5 bp | -0.2% |
| SOXX | iShares Semiconductor ETF | 70.0% | -2 bp | -0.5% |
| SOXQ | Invesco PHLX Semiconductor ETF | 65.4% | -16 bp | -0.1% |
| FTXL | First Trust Nasdaq Semiconductor ETF | 59.5% | +25 bp | +0.3% |
| CHPX | Global X AI Semiconductor & Quantum ETF | 58.9% | +15 bp | +0.6% |
| CHPS | Xtrackers Semiconductor Select Equity ETF | 57.2% | -20 bp | +0.6% |
| WUGI | AXS Esoterica NextG Economy ETF | 47.7% | +111 bp | -2.3% |
| SMHX | VanEck Fabless Semiconductor ETF | 47.0% | 0 bp | -0.2% |
| AIX | Defiance US 100 Tech AI Moat ETF | 45.3% | +30 bp | -0.8% |
| XLK | Technology Select Sector SPDR | 43.1% | -27 bp | +1.0% |
Risk and Returns: SMH 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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025 | 2026 | 2027 | |
| 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 11/1/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
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
4.0%
ALTAR SCORE™
23rd
PERCENTILE
UNDERWEIGHT
ETFRC RATING
There are 1,400 funds in the US Equity category with an average
ALTAR Score™ of 5.5% and a standard deviation
of 2.1%. SMH's ALTAR Score™ is approximately -0.7 standard
deviations above the category average. This places SMH in the 23rd percentile
among funds in the category.
Sell-Side Consensus
$738.43
PRICE TARGET
+41.3%
UPSIDE