ETF fact sheet · SMH · Semiconductors
VanEck Semiconductor ETF
The model values 21 of SMH's 25 holdings. At the median their price sits 10.2% below its fair value, and 62% of them are priced below it.
Among the holdings the model backs with medium or high evidence, the cheapest by its reckoning is Micron Technology (MU), priced 38.4% below fair value, and the priciest is ARM Holdings (ARM), priced 12.7% above fair value. That is the model's opinion, not advice.
The fund through Faircurve's model, from its run of 24 Oct 2026; closes to 27 Oct 2026.
SMH through the model
| Holding | Weight | 1D | Price vs fair value | Evidence |
|---|---|---|---|---|
| NVDA Nvidia | 20.4% | +0.90% | 14.3% below | medium |
| TSM Taiwan Semiconductor Manufacturing Co L | 9.6% | not covered | ||
| AVGO Broadcom | 5.5% | +4.00% | 25.4% below | medium |
| AMD Advanced Micro Devices | 5.4% | +5.45% | 8.3% above | medium |
| TXN Texas Instruments | 5.0% | +3.62% | 2.2% above | high |
| MU Micron Technology | 4.6% | +2.77% | 38.4% below | medium |
| MRVL Marvell Technology | 4.5% | +4.19% | 6.5% above | low |
| ADI Analog Devices | 4.5% | +4.27% | 2.4% below | medium |
| ASML ASML Holding NV | 4.5% | +2.81% | 13.2% below | medium |
| KLAC KLA | 4.2% | +2.98% | 0.4% below | medium |
| AMAT Applied Materials | 4.1% | +2.15% | 18.2% below | medium |
| INTC Intel | 4.1% | +3.61% | 5.5% above | medium |
| LRCX Lam Research | 4.0% | +1.41% | 13.2% below | medium |
| QCOM Qualcomm | 4.0% | +2.54% | 25.9% below | medium |
| SKHY Sk Hynix | 3.7% | +1.92% | not covered | |
| CDNS Cadence Design Systems | 2.1% | +6.49% | 3.2% above | low |
| SNPS Synopsys | 2.0% | +4.42% | 14.0% below | medium |
| MPWR Monolithic Power Systems | 1.2% | +3.82% | 9.3% above | high |
| TER Teradyne | 1.2% | +4.75% | 1.3% above | medium |
| NXPI NXP Semiconductors | 1.1% | +3.12% | 10.2% below | high |
| ALAB Astera Labs | 1.0% | not covered | ||
| ARM ARM Holdings | 1.0% | +1.46% | 12.7% above | medium |
| STM Stmicroelectronics Nv | 0.9% | not covered | ||
| MCHP Microchip Technology | 0.8% | +5.63% | 18.9% below | medium |
| ON ON Semiconductor | 0.5% | +6.22% | 25.4% below | medium |
The 15 largest holdings by weight; the button shows all 25. Holdings as of 21 Oct 2026; closes to 27 Oct 2026; the model's run of 24 Oct 2026. Green is a price below the model's fair value, red above it. Not covered: the model does not value it. Withheld: its own checks flag the valuation.
How SMH has moved
| Period | Price return |
|---|---|
| One day | +3.02% |
| One week | +2.13% |
| One month | -8.06% |
| This year | +54.94% |
| One month against the S&P 500 | -8.77% |
One week is seven calendar days, one month 28. Beta 2.41 over the past 60 sessions: the fund moves about 2.4 times as much as the market.
What SMH is
VanEck Semiconductor ETF holds chipmakers and chip-equipment makers.
| Expense ratio | 0.35% a year |
|---|---|
| Assets | $67.7 billion |
| Dividend yield | 0.20% ($1.10 paid over twelve months) |
| Holdings | 26 |
| Since | 2011 |
| Issuer | VanEck |
Sectors, share of the fund
| Technology | 100.0% |
|---|