SMH
VanEck Semiconductor ETF
VanEck Vectors Semiconductor is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance results of the VanEck Vectors US Listed Semiconductor 25 Index.
US
EQUITY
Passive
MANAGEMENT STYLE
23.3 B
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | Van Eck Associates Corp |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 20, 2011 |
| Assets (mns) | $23,277 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NVIDIA CORP | 21.5 % |
| TAIWAN SEMICONDUCTOR-SP ADR | 13.7 % |
| BROADCOM INC. | 10.1 % |
| ASML HOLDING NV-NY REG SHS | 4.2 % |
| QUALCOMM INC | 4.0 % |
| TEXAS INSTRUMENTS INC | 4.0 % |
| MICRON TECHNOLOGY INC | 4.0 % |
| ADVANCED MICRO DEVICES | 4.0 % |
| APPLIED MATERIALS INC | 3.8 % |
| ANALOG DEVICES INC | 3.7 % |
Constituent Breakdown
| Number of holdings | 27 |
| Herfindahl-Hirschman Index | 962 |
| Wgt avg mkt cap (mns) | $298,123 |
| Large cap (>$10bn) | 99.5% |
| Mid cap ($2-10bn) | 0.5% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 87.1% |
| Emerging mkts. | 13.0% |
Country Exposure
 |
UNITED STATES | 79.4 % |
 |
TAIWAN | 13.7 % |
 |
NETHERLANDS | 5.9 % |
 |
SWITZERLAND | 0.8 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 30.4% | 43.0% | 42.8% | 15.3% | 29.1% | 24.9% | 24.8% | Volatility | 36.4% | 34.5% | 33.0% | 35.9% | 36.4% | 30.5% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.61 | 69% |
| MSCI EAFE | 1.45 | 55% |
| MSCI Emg Mkts | 1.36 | 48% |
Liquidity Measures
| Avg. volume (000) | 5,563 |
| Turnover | 5.8% |
| Avg. Bid/Ask (% of price) | 0.01% |
| ADV of underlying (mns) | $50,208 |
Technical Indicators
| Recent close | $241.99 |
| 30d moving avg. | $244.74 |
| Annualized volatility | 34.2% |
| Relative strength (RSI) | 48 |
| Short interest (ETF) | 9.4% |
| Short interest (underlying) | 2.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. SMH |
Expenses vs. SMH |
ALTAR Score™ vs. SMH |
|---|---|---|---|---|
| SHOC | Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF | 80.2% | +5 bp | -0.1% |
| SOXQ | Invesco PHLX Semiconductor ETF | 73.4% | -16 bp | -0.1% |
| SOXX | iShares Semiconductor ETF | 70.9% | 0 bp | +1.2% |
| FTXL | First Trust Nasdaq Semiconductor ETF | 60.4% | +25 bp | +1.8% |
| IQM | Franklin Intelligent Machines ETF | 42.3% | +15 bp | -2.1% |
| PSI | Invesco Semiconductors ETF | 42.1% | +22 bp | +0.7% |
| WUGI | AXS Esoterica NextG Economy ETF | 38.5% | +40 bp | -2.8% |
| QTEC | First Trust NASDAQ-100 Technology Sector Index Fund | 38.2% | +22 bp | -0.5% |
| XNTK | SPDR NYSE Technology ETF | 35.5% | 0 bp | -1.2% |
| XLK | Technology Select Sector SPDR Fund | 34.8% | -26 bp | -0.1% |
Risk and Returns: SMH 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 12/18/2024
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
SMH
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
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
SMH
5.3%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.6%. SMH's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places SMH in the 45th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SMHSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 192 |
| Avg. Expense Ratio | 31.0 bp |
| Std. Deviation | 25.7 bp |
| SMH (35 bp) Percentile rank | 56 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SMH | 35.0 | 0.9 | 35.9 |
| Peer Avg. | 28.8 | 6.6 | 35.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .