VanEck Semiconductor ETF AUM Tops $68.7B, Returns 68.8% YTD
SMH•VanEck Semiconductor ETF tracks the MVIS US Listed Semiconductor 25 Index with top holdings in Nvidia (15%+), TSMC, ASML, Broadcom and AMD, managing $68.7 billion in assets at a 0.35% expense ratio. It returned 68.8% YTD through H1 2026, trailing SOXX’s 90%, while rising put-option volume signals bearish bets on the fund.
1. ETF Structure and Holdings
VanEck Semiconductor ETF tracks the MVIS US Listed Semiconductor 25 Index, offering exposure to the largest U.S.-listed chip firms. Its top five holdings—Nvidia, TSMC, ASML, Broadcom and AMD—account for over half the fund’s weight, creating concentrated exposure to market leaders.
2. Assets Under Management and Expense
The fund manages $68.7 billion in assets, making it the most liquid semiconductor ETF on the market. It charges a 0.35% annual fee and sees daily trading volumes that far exceed most sector peers, supporting tight bid-ask spreads.
3. Year-to-Date Performance
Through the first half of 2026, the ETF delivered a 68.8% total return, driven largely by gains in Nvidia and other mega-cap chipmakers. This performance trailed the 90.0% return of a more equally weighted peer fund, reflecting SMH’s concentration in a handful of large issuers.
4. Investor Sentiment and Options Activity
Put-option volume on the ETF has surged recently as traders position for a potential pullback in chip stocks. Elevated bearish bets suggest growing caution around semiconductor valuations after a prolonged rally.
