ARMH vs SOXQ

ARMHCArm Holdings PLC ADRhedged

SOXQAInvesco PHLX Semiconductor ETF

In short

ARMH A single-stock ETF with an unusual job: hold the Arm Holdings ADR and use a currency contract to strip out the exchange-rate layer baked into ordinary ADR investing, aiming to deliver the stock's local-market return, less expenses.

SOXQ SOXQ owns the semiconductor industry's landmark benchmark, the PHLX Semiconductor Sector Index, for 0.19% a year. About 30 US-listed chip names, at roughly half the fee of the typical semiconductor fund.

Stated mandate

ARMH The Fund seeks to provide, before fees and expenses, returns corresponding generally to Arm Holdings PLC’s ordinary shares in its local market and local currency. Its ADR exposure is paired with currency swaps intended to hedge exchange-rate fluctuations.

SOXQ The Fund seeks to track the investment results, before fees and expenses, of the PHLX Semiconductor Sector Index.

Why people hold it

• ARMH Ordinary ADRs quietly blend company returns with currency swings. This one hedges that out by contract, targeting Arm's local-market return, less expenses.precidian.com
• 0.19% a year, comfortably under the 0.35% median for semiconductor funds, matching SOXQ and undercutting SMH and SOXX.
• Pinpoint exposure. One company, not a basket of chipmakers, wrapped in an ETF that trades on a US exchange during US hours.precidian.com

• SOXQ Charges 0.19% a year against a semiconductor-fund median near 0.35%. Same industry, less friction.
• Undercuts the category's best-known tickers on fee: SMH at 0.35% and SOXX at 0.33%.
• Tracks the PHLX Semiconductor Sector Index, a focused basket of roughly 30 US chip companies. No stock-picking, no theme drift.
• A multi-billion-dollar, actively traded fund, and one of the stronger builds in the semiconductor cohort.

Worth knowing

• ARMH One stock, one story. Diversified chip funds like SMH or SOXX spread a bad quarter across many companies; here, Arm news is the entire fund.
• The hedge cuts both ways: currency moves that would have flattered an unhedged ADR holder are removed along with the ones that would have stung.precidian.com
• Launched in 2025 and still a small fund, it changes hands less often than the household-name semiconductor ETFs, which can show up in bid-ask spreads.

• SOXQ About 30 stocks in one industry. That concentration puts it among the more volatile funds in its peer group, in both directions.
• Not the absolute cheapest chip ETF: CHPS runs 0.15%, though it tracks a different index.
• Launched in 2021, so its record is shorter than the decade-plus histories of the category's older funds.

Full ARMH profile⁠

Full SOXQ profile⁠