XSD
SPDR S&P Semiconductor ETF
The SPDR S&P Semiconductors ETF seeks to closely match the returns and characteristics of the S&P Semiconductor Select Industry Index, before expenses.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
1.8 B
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | State Street Global Advisors |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 31, 2006 |
| Assets (mns) | $1,823 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| RIGETTI COMPUTING, INC. | 5.8 % |
| ADVANCED MICRO DEVICES | 3.9 % |
| MICRON TECHNOLOGY INC | 3.8 % |
| INTEL CORP | 3.8 % |
| NAVITAS SEMICONDUCTOR CORPORATION | 3.5 % |
| RAMBUS INC | 3.3 % |
| MONOLITHIC POWER SYSTEMS INC | 3.1 % |
| MARVELL TECHNOLOGY, INC. | 3.0 % |
| IMPINJ, INC. | 3.0 % |
| FIRST SOLAR INC | 2.9 % |
Constituent Breakdown
| Number of holdings | 40 |
| Herfindahl-Hirschman Index | 268 |
| Wgt avg mkt cap (mns) | $207,092 |
| Large cap (>$10bn) | 47.1% |
| Mid cap ($2-10bn) | 44.6% |
| Small cap (<$2bn) | 5.5% |
| Developed mkts. | 97.2% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.8 % |
 |
NETHERLANDS | 2.4 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 41.8% | 53.5% | 44.0% | 30.9% | 21.6% | 23.6% | -- | 14.0% |
| Dividend Yield | 0.2% | 0.3% | 0.3% | 0.4% | 0.3% | 0.6% | -- | 0.6% |
| Total Returns | 42.0% | 53.8% | 44.3% | 31.3% | 21.9% | 24.2% | -- | 14.6% | Ann. Volatility | 45.7% | 43.7% | 39.3% | 37.4% | 37.8% | 34.1% | -- | 32.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.95 | 61% |
| MSCI EAFE | 0.93 | 18% |
| MSCI Emg Mkts | 0.80 | 15% |
Liquidity Measures
| Avg. volume (000) | 65 |
| ADV traded (mns) | $23 |
| Turnover | 1.3% |
| Avg. Bid/Ask (% of price) | 0.13% |
Technical Indicators
| Recent close | $352.27 |
| 30d moving avg. | $335.66 |
| Annualized volatility | 32.4% |
| Relative strength (RSI) | 62 |
| Short interest | 3.7% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| PSI | Invesco Semiconductors ETF | 46.5% | +22 bp | +3.3% |
| FTXL | First Trust Nasdaq Semiconductor ETF | 41.6% | +25 bp | +4.4% |
| SOXX | iShares Semiconductor ETF | 41.1% | 0 bp | +3.8% |
| SOXQ | Invesco PHLX Semiconductor ETF | 40.1% | -16 bp | +3.6% |
| SMH | VanEck Semiconductor ETF | 30.2% | 0 bp | +3.4% |
| SHOC | Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF | 30.0% | +5 bp | +2.9% |
| QTEC | First Trust NASDAQ-100 Technology Sector Index Fund | 28.8% | +22 bp | +3.7% |
| CARZ | First Trust NASDAQ Global Auto Index Fund | 27.4% | +35 bp | +4.0% |
| CHPX | Global X AI Semiconductor & Quantum ETF | 24.1% | +15 bp | +2.9% |
| QTUM | Defiance Quantum ETF | 22.8% | +5 bp | +4.9% |
Risk and Returns: XSD 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 11/2/2025
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
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
XSD
3.6%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 997 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.4%. XSD's ALTAR Score™ is approximately
0.9 standard deviations
below
the category average. This places XSD in the 19th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
XSDSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 627 |
| Avg. Expense Ratio | 46.1 bp |
| Std. Deviation | 32.8 bp |
| XSD (35 bp) Percentile rank | 37 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| XSD | 35.0 | 13.0 | 48.0 |
| Peer Avg. | 46.1 | 15.6 | 61.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .