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SMHX

GradeBNASDAQ Global Market

VanEck Fabless Semiconductor ETF

Themes · VanEck · Inception 2024-08-27

$60.37−0.72 (−1.18%)

As of Sep 23, 2026, 2:25 PM EDT

History starts Aug 28, 2024.
Intraday session: down, 60 prints from 61.09 to 60.37. Range 59.73 to 61.02. Use the arrow keys to read each point.$60.00$61.0010 AM12 PM2 PM4 PM
Expense ratio
0.35%
Fund size
$271M
1Y return
+57.2%
Yield · Last 12 months
0.01%
Holdings
23
Volume · 30D
0.1M sh
NAV per share
$59.84
52W range
low $34.53high $68.36

The ETF.net SMHX Grade

B

66/ 100

Rank 6 of 25 in Semiconductors⁠

Confidence High

Six-pillar profile for SMHX. Scores out of 100: Cost 75, Risk 60, Mission 79, Tradability 66, Holdings 48, Durability 71. Strongest: Mission (79). Weakest: Holdings (48). Leans toward Mission and Cost.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 66 of 100 sits in the B 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 rank7/25 · top 28%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 79
    Category rank1/4 · top 25%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 60
    Category rank6/15 · top 40%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 66
    Category rank7/25 · top 28%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 48
    Category rank14/20 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 71
    Category rank8/25 · top 32%

Graded as of Sep 22, 2026

Our read on SMHX

ETF.net Research

BOwns the chip designers and skips the factories. SMHX tracks an index of US-listed fabless semiconductor companies: firms that design silicon in-house and hand the actual manufacturing to outside foundries.

Stated mandate

The Fund seeks to track, before fees and expenses, the price and yield performance of the MarketVector US Listed Fabless Semiconductor Index, which is intended to represent companies involved in the semiconductor industry.

Why people hold it

  1. 01Purist screen: the index takes only US-listed fabless firms drawing at least half their revenue from semiconductors. No foundries, no equipment makers, no integrated manufacturers.vaneck.com
  2. 02Fabless is an asset-light model by construction: design and R&D stay in-house while fabrication is outsourced, sidestepping the cost of owning a chip plant.vaneck.com
  3. 03Charges 0.35% a year, level with the median semiconductor ETF, for a far narrower cut of the industry than the broad chip trackers.

Worth knowing

  1. 01By design it skips foundries, equipment makers and integrated manufacturers. Broad chip funds such as SMH and SOXX still cover those links in the supply chain.
  2. 02Cheaper doors into chips exist: SOXQ lists 0.19% and CHPS 0.15%, against 0.35% here.
  3. 03Launched in 2024 and still a smaller, moderately traded fund, so the track record is short and spreads can run wider than at the category heavyweights.

SMHX Holdings

As of Sep 20, 2026, 6:07 AM
Asset class
Stocks
Holdings
23
Top-10 weight
75%
Largest holding
NVDA23.1%

Sectors

  • Technology100.0%

Geography

  • United States92.56%
  • United Kingdom4.12%
  • Hong Kong3.31%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001NVDANvidia Corp23.07%281,358$62M828
002AVGOBroadcom Inc14.73%113,456$39M732
003AMDAdvanced Micro Devices Inc6.37%31,238$17M618
004QCOMQualcomm Inc5.24%74,295$14M523
005MRVLMarvell Technology Inc5.03%55,867$13M458
006ALABAstera Labs Inc4.21%38,402$11M258
007SMTCSemtech Corp4.19%62,965$11M166
008ARMArm Holdings Plc4.12%41,584$11M106
009SNPSSynopsys Inc3.96%27,760$11M376
010MPWRMonolithic Power Systems Inc3.79%8,676$10M419
011CDNSCadence Design Systems Inc3.48%33,193$9M438
012SITMSitime Corp3.45%15,428$9M145
013LSCCLattice Semiconductor Corp3.31%81,618$9M197
014SIMOSilicon Motion Technology Corp3.31%34,966$9M43
015RMBSRambus Inc2.74%85,477$7M178

Showing 1–15 of 24 holdings

SMHX Performance

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

SMHX$15,724
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. SMHX $15,724. SPY $11,723. Use the arrow keys to read each point.$8,335$13,239$18,143Sep 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 SMHX. Periods over one year show the average yearly return.
PeriodSMHX
Year to date+60.6%
1 month+10.3%
3 months−7.7%
1 year+57.2%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—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 SMHX
YearReturn barSMHX
2026 YTD+60.6%
2025+30.0%
2024+17.7%

History from Aug 28, 2024

SMHX in the news

ETF.net Research hasn’t filed on SMHX yet — coverage lands here as it’s written.

SMHX 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.
0.01%Last 12 months
Payout per share
$0.009Last 12 months
Last payment
$0.009 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 23, 2024 $0.01; Dec 22, 2025 $0.009. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$0.009
Dec 23, 2024Dec 24, 2024$0.01

SMHX Risk

How much the fund’s monthly returns vary, scaled to a year.
37.9%
Annualised · 24 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.
1.12
vs 3-month T-bills · 24 months 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.
−38.5%
24 months · trough Apr 2025
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.
2.42
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.

SMHX Cost

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

5 of the 25 Semiconductors funds charge less.

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