VanEck Semiconductor ETF (SMH) is a semiconductor ETF. As of November 10, 2026, its ten largest holdings make up 69% of the fund and the Magnificent 7 are 18% of it, according to ETF Copilot. It behaves like 14 equally weighted holdings. ETF Copilot scores its risk 0.7 out of 10 (higher means steadier).
What stands out in SMH's data
Global semiconductor firms, weighted by market value.
Has outpaced most peers over three years — a run that has rewarded concentration in the industry's biggest names.
A 46% annualized three-year return tops the 39% category median, ahead of most peers. It holds just 25 stocks, and return on invested capital of 35.6% also runs above the 30.9% norm.
A focused bet on the world's largest chipmakers, built for portfolios that want direct semiconductor exposure.
Why did SMH move this week? It fell 6.7% in the week to November 10, 2026 — Nvidia and Micron Technology drove it
SMH fell 6.7% in the week to November 10, 2026. The holdings that moved it most were Nvidia (−18.3%), Micron Technology (−15.2%) and SK Hynix American Depository (−14.0%); Advanced Micro Devices (+6.5%) pushed the other way.
How is SMH rated? ETF Copilot scores VanEck Semiconductor ETF (SMH) 7.4 out of 10
As of November 10, 2026, ETF Copilot scores VanEck Semiconductor ETF (SMH) 7.4 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 7.4 / 10
- Growth: 10.0 / 10
- Value: 4.2 / 10
- Risk: 0.7 / 10
- Quality: 10.0 / 10
- Return: 9.9 / 10
Among 9 Semiconductors funds, its Growth score places 1st, Quality 1st, Risk 3rd and Value 5th.
Is SMH expensive right now? It trades at 25.3 times earnings, against its own median of 27.0
As of November 10, 2026, SMH is cheaper than 55% of its own last 10 years.
The median Semiconductors fund trades at 25.7 times earnings.
Trailing 12 months, built from SMH's holdings. How we calculate this →
What's inside SMH? 100% Tech
What's inside SMH: Size (Large 99%, Mid 1%, Small 0%); Geography (International 22%, US 78%); Tech 100%; Magnificent 7 18%; AI 44%; Semiconductors 95%; Memory 16%.
What stocks are in SMH? Its top ten holdings are 69% of the fund
SMH's largest holdings include Nvidia, Taiwan Semiconductor, Texas Instruments, Broadcom and Advanced Micro Devices.
More concentrated than 83% of Semiconductors ETFs.
Half of SMH's weight sits in its 6 largest positions, and once those weights are taken into account it behaves like 14 equally weighted holdings.
What is SMH's expense ratio? 0.35% a year
As of November 10, 2026, SMH charges 0.35% a year, yields 0.23% and holds $62.6B in assets across 25 positions.
That fee is lower than 4 of the 8 other Semiconductors funds.
| Measure | SMH |
|---|---|
| Expense ratio | 0.35% |
| Dividend yield | 0.23% |
| Assets under management | $62.6B |
| Holdings | 25 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
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Cite this
ETF Copilot, “VanEck Semiconductor ETF (SMH) scores and holdings analysis”, as of November 10, 2026.
https://etf-copilot.com/etf/smh
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