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SMH

GradeANASDAQ Global Market

VanEck Semiconductor ETF

Themes · VanEck · Inception 2011-12-20 · SEC filings

$600.35−7.11 (−1.17%)

As of Sep 23, 2026, 3:10 PM EDT

Intraday session: down, 69 prints from 607.46 to 600.35. Range 594.85 to 605.67. Use the arrow keys to read each point.$595.00$597.50$602.50$605.0010 AM12 PM2 PM4 PM
Expense ratio
0.35%
Fund size
$72.8B
1Y return
+89.1%
Yield · Last 12 months
0.18%
Holdings
26
Volume · 30D
10.1M sh
NAV per share
$596.13
52W range
low $313.60high $671.83

The ETF.net SMH Grade

A

77/ 100

Rank 2 of 25 in Semiconductors⁠

Confidence High

Six-pillar profile for SMH. Scores out of 100: Cost 75, Risk 79, Mission 77, Tradability 94, Holdings 53, Durability 92. Strongest: Tradability (94). Weakest: Holdings (53). Leans toward Tradability and Durability.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 77 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 75
    Category rank6/25 · top 24%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 77
    Category rank2/4 · top 50%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 79
    Category rank2/15 · top 13%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 94
    Category rank1/25 · top 4%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 53
    Category rank12/20 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 92
    Category rank2/25 · top 8%

Graded as of Sep 22, 2026

Our read on SMH

ETF.net Research

AChip exposure, undiluted. SMH tracks roughly 25 of the largest, most liquid US-listed semiconductor names (foreign chipmakers included) and trades like a household ticker in its category.

Stated mandate

The Fund aims to track, before fees and expenses, the price and yield performance of the MVIS US Listed Semiconductor 25 Index.

Why people hold it

  1. 01The index rule is simple: the 25 largest, most liquid US-listed chip stocks, each earning over half its revenue from semiconductors or semi equipment. No tech-adjacent filler.marketvector.com
  2. 02Depositary receipts count, so US-listed foreign chipmakers are in scope. That reaches parts of the supply chain a domestic-only screen leaves out.sec.gov
  3. 03Single-name weights are capped at 20%, so the giants of the industry carry real weight rather than being trimmed toward sector-average size.marketvector.com
  4. 04One of the most actively traded funds in its peer group, a multi-billion-dollar book, and VanEck has run it since 2011.

Worth knowing

  1. 01Fees sit mid-pack: 0.35% matches the semiconductor cohort median but runs above SOXQ at 0.19% and CHPS at 0.15%.
  2. 02Roughly 25 names with a 20% cap is concentration by design: the largest holdings drive most of the fund's day-to-day movement.marketvector.com
  3. 03Built as a single-industry chip sleeve, not an income holding. Distributions come once or twice a year.

SMH Holdings

As of Sep 20, 2026, 6:07 AM
Asset class
Stocks
Holdings
26
Top-10 weight
72%
Largest holding
NVDA22.4%

Sectors

  • Technology100.0%

Geography

  • United States82.27%
  • Taiwan9.83%
  • Netherlands5.92%
  • United Kingdom1.02%
  • Switzerland0.96%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001NVDANvidia Corp22.42%74,080,493$16.2B828
002TSMTaiwan Semiconductor Manufacturing Co L9.80%16,512,856$7.1B268
003AMDAdvanced Micro Devices Inc6.16%8,195,528$4.5B618
004AVGOBroadcom Inc5.67%11,840,578$4.1B732
005MUMicron Technology Inc5.61%4,156,962$4.1B655
006ASMLAsml Holding Nv4.81%2,140,936$3.5B199
007INTCIntel Corp4.70%31,336,507$3.4B492
008QCOMQualcomm Inc4.46%17,146,076$3.2B523
009MRVLMarvell Technology Inc4.41%13,280,495$3.2B458
010ADIAnalog Devices Inc4.26%8,522,959$3.1B474
011TXNTexas Instruments Inc4.24%11,895,062$3.1B497
012AMATApplied Materials Inc3.89%6,749,358$2.8B558
013LRCXLam Research Corp3.87%10,422,404$2.8B591
014KLACKla Corp3.66%15,704,336$2.7B506
015CDNSCadence Design Systems Inc1.88%4,848,636$1.4B438

Showing 1–15 of 27 holdings

SMH Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

SMH$18,913
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. SMH $18,913. SPY $11,723. Use the arrow keys to read each point.$8,628$15,179$21,730Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SMH. Periods over one year show the average yearly return.
PeriodSMH
Year to date+68.7%
1 month+8.4%
3 months−9.2%
1 year+89.1%
3 years+63.1%per year
5 years+35.9%per year
10 years+34.5%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SMH
YearReturn barSMH
2026 YTD+68.7%
2025+49.2%
2024+39.1%
2023+73.4%
2022−33.5%
2021+42.1%
2020+55.5%

SMH in the news

View all SMH news

SMH Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.18%Last 12 months
Payout per share
$1.10Last 12 months
Last payment
$1.10 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2017–2026

One bar per payment. 8 payments from 2017 to 2026 YTD. Dec 18, 2017 $0.70; Dec 20, 2018 $0.82; Dec 21, 2020 $0.75; Dec 20, 2021 $0.79; Dec 19, 2022 $1.20; Dec 18, 2023 $1.04; Dec 23, 2024 $1.07; Dec 22, 2025 $1.10. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$1.10
Dec 23, 2024Dec 24, 2024$1.07
Dec 18, 2023Dec 22, 2023$1.04
Dec 19, 2022Dec 23, 2022$1.20
Dec 20, 2021Dec 27, 2021$0.79
Dec 21, 2020Dec 28, 2020$0.75
Dec 23, 2019Dec 30, 2019Data unavailable
Dec 20, 2018Dec 27, 2018$0.82
Dec 18, 2017Dec 22, 2017$0.70
Dec 19, 2016Dec 23, 2016$0.29
Dec 21, 2015Dec 28, 2015$0.57
Dec 22, 2014Dec 29, 2014$0.32

SMH Risk

How much the fund’s monthly returns vary, scaled to a year.
33.0%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.33
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−45.3%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.98
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

SMH Cost

Expense ratio0.35%
  • The middle half of Semiconductors funds
  • Median 0.60%

5 of the 25 Semiconductors funds charge less.

SMH costs $35.00 a year on $10,000. The median Semiconductors fund costs $60.00.