VanEck Semiconductor ETF
SMH SectorUpdated: Jul 4, 2026, 21:17 UTC
Key Metrics
Top 10 Holdings
| Holding | Ticker | Weight | Bar |
|---|---|---|---|
| NVIDIA Corp | NVDA | 15.23% | |
| Taiwan Semiconductor Manufacturing Co Ltd ADR | TSM | 9.38% | |
| Micron Technology Inc | MU | 7.78% | |
| Advanced Micro Devices Inc | AMD | 7.61% | |
| Intel Corp | INTC | 7.22% | |
| Broadcom Inc | AVGO | 7.2% | |
| Qualcomm Inc | QCOM | 5.1% | |
| Texas Instruments Inc | TXN | 4.65% | |
| Lam Research Corp | LRCX | 4.39% | |
| KLA Corp | KLAC | 3.96% |
Sector Allocation
About This ETF
The VanEck Semiconductor ETF (SMH) is a Sector ETF with an expense ratio (TER) of 0.35% and $67.8B in assets under management., with its largest holdings being NVIDIA Corp, Taiwan Semiconductor Manufacturing Co Ltd ADR, Micron Technology Inc. The ETF currently yields 0.18% in dividends. Year-to-date, SMH has returned +58.66%.
The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The index includes common stocks and depositary receipts of U.S. exchange-listed companies in the semiconductor industry. Such companies may include medium-capitalization companies and foreign companies that are listed on a U.S. exchange. The fund is non-diversified.
📊 In-depth comparison:
Semiconductor ETF comparison (SMH · SOXX) ›FAQ — SMH
What is the TER of SMH (VanEck Semiconductor ETF)?
SMH has a Total Expense Ratio (TER) of 0.35 % per year. That sits above the sector category median (0.08 % across 13 peer ETFs). The TER is deducted directly from the fund and lowers your effective return.
What return has SMH delivered?
Performance for SMH: YTD: +58.66 % · 3-year p.a.: +57.51 % · 5-year p.a.: +36.27 %. Over 5 years, SMH outperforms the sector category median of +6.75 % by +29.52 pp. Past performance is no guarantee of future returns.
What are the top holdings of SMH?
The five largest positions in SMH are: NVDA, TSM, MU, AMD, INTC. The full holdings list is updated daily on this page.
Does SMH pay dividends?
SMH has a current dividend yield of 0.18 %. Distributing ETFs pay this out in cash; accumulating versions reinvest it inside the fund. Check the share class on your broker before buying.
Where can I buy or set up a savings plan for SMH?
SMH is available at most major brokers. For a free monthly savings plan from €1, look at Trade Republic, Scalable Capital or Flatex. The broker comparison on this site shows fees, free-savings-plan ETFs and execution exchanges side by side.
What Is the VanEck Semiconductor ETF?
The VanEck Semiconductor ETF (SMH) bundles the largest U.S.-listed semiconductor companies into a single, focused portfolio. With roughly $58.8B in assets and an expense ratio of 0.35%, it is one of the best-known ways to bet specifically on the chip industry. Semiconductors are the backbone of modern technology — from artificial intelligence and data centers to smartphones and vehicles. For investors who want to capture the long-term growth of this critical sector, SMH offers concentrated, targeted exposure to a single industry.
Performance & Drivers
Recent performance has been exceptionally strong: the fund posts a 60.68% return year-to-date, around 59.99% over three years, and roughly 37.87% over five years. The share price sits near its 52-week high of $612.30 — a 52-week position of 96.7% — while the low stood at $235.37, underscoring its wide trading range.
The main driver is the boom around artificial intelligence and data centers. Heavyweights such as NVIDIA (18.09%), Taiwan Semiconductor (10.59%) and Broadcom (7.83%) shape returns substantially. The dividend yield is a slim 0.22% — this fund lives on price appreciation, not distributions.
Risk Profile
SMH is a highly concentrated single-sector investment: 100% of the portfolio sits in the technology sector, specifically semiconductors. This single-sector concentration means industry-specific shocks — weak demand, overcapacity, or geopolitical tension around Taiwan — can hit the entire portfolio. On top of that comes top-holding concentration: NVIDIA alone accounts for over 18%.
- Pronounced cyclicality: the chip industry moves through strong boom-and-bust cycles.
- High volatility, evident in the wide gap between the 52-week high and low.
- Currency risk: the fund is denominated in U.S. dollars; for euro-area investors, a weaker dollar can erode returns or amplify losses.
Who Is It For?
SMH suits growth-oriented investors with a long time horizon and high risk tolerance who want targeted exposure to the semiconductor industry and can stomach sharp price swings. As a complementary satellite alongside a broadly diversified core portfolio, the fund can amplify technology exposure.
It is less suitable for safety-oriented or income-focused investors: the 0.22% dividend yield offers little current income. Anyone seeking a broadly diversified base holding should not use SMH as a core — concentrating on one sector runs against the principle of diversification. Investors with a short horizon or low tolerance for volatility should approach with caution.
How It Compares
Within semiconductor and technology sector funds, SMH competes with several well-known products from other issuers:
- iShares Semiconductor ETF (SOXX) from BlackRock also tracks U.S.-listed chip names but weights them via a different index and spreads across more holdings.
- Invesco PHLX Semiconductor ETF (SOXQ) follows a similar approach but often features a lower expense ratio.
- Technology Select Sector SPDR Fund (XLK) from State Street is broader, covering the entire technology sector rather than only semiconductors.
At roughly $58.8B, SMH is among the largest and most liquid of this group.
Where can I buy SMH?
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