SMH vs SOXQ
VanEck Semiconductor ETF vs Invesco PHLX Semiconductor ETF
Which is better, SMH or SOXQ?
Nearly the same fund. SOXQ costs less.
SOXQ has a lower expense ratio. SMH led over 3Y, 5Y and the full window, SOXQ over 1Y. The two have moved almost in lockstep, correlation 0.99. SOXQ is less concentrated, with 62.5% of the fund in its ten largest positions against 71.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SMH | SOXQ |
|---|---|---|
| Expense Ratio | 0.35% | 0.19%Best |
| AUM | $74.1B | $3.2B |
| Dividend Yield | 0.20% | 0.31% |
| Holdings | 52 | 66 |
| YTD Return | +69.81% | +79.33%Best |
| 1Y Return | +85.18% | +95.26%Best |
| 3Y Return (annualized) | +63.06%Best | +56.86% |
| 5Y Return (annualized) | +38.84%Best | +33.58% |
| Volatility (annualized) | 33.8%Best | 35.8% |
| Max Drawdown | -45.3%Best | -46.0% |
| $10,000 over 5 years | $51,591Best | $42,531 |
| Top 10 Weight | 71.4% | 62.5%Best |
| Fund Family | VanEck | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Dec 20, 2011 | Jun 11, 2021 |
Volatility and max drawdown are measured over the window both funds cover: Jun 11, 2021 to Oct 5, 2026 (5.3 years).
SMH vs SOXQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5.3 years both funds cover.
SMH vs SOXQ Performance
VanEck Semiconductor ETF (SMH) is an ETF from VanEck and Invesco PHLX Semiconductor ETF (SOXQ) is an ETF from Invesco (US). Over the past year SMH returned +85.18% while SOXQ returned +95.26%. Year to date, SMH is up 69.81% versus a gain of 79.33% for SOXQ.
Over three years, SMH compounded at +63.06% per year against +56.86% for SOXQ; over five years the annualized figures are +38.84% and +33.58% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SOXQ has been the more volatile fund, with annualized monthly volatility of 35.8% compared with 33.8% for SMH. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -45.3% for SMH and -46.0% for SOXQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SMH charges 0.35% per year while SOXQ charges 0.19%. On a $10,000 position that is $35 vs $19 annually, a gap of $16 per year that compounds over a long holding period. On income, SMH currently yields 0.20% against 0.31% for SOXQ.
Holdings Overlap
94.2% of SMH's money is in holdings SOXQ also owns. 90.5% of SOXQ's money is in holdings SMH also owns.
Most of SMH is already inside SOXQ. Owning both mostly buys the same companies twice.
21 positions in common, counted across the 25 positions we hold weights for in SMH and 31 in SOXQ, against full books of 52 and 66.
What only one of them owns
Our book lists 8 positions for SOXQ that do not appear in our book for SMH (7.7% of the fund), and 2 for SMH that do not appear in SOXQ (3.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SMH | Weight in SOXQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 22.09% | 13.60% | 8.49% |
| AVGOBroadcom Inc | 5.83% | 8.87% | 3.04% |
| MUMicron Technology, Inc. | 5.54% | 8.80% | 3.26% |
| TSM:TWTaiwan Semiconductor - Adr | 9.75% | 4.53% | 5.22% |
| AMDAdvanced Micro Devices Inc | 5.78% | 4.38% | 1.40% |
| ASL:ASAsml Holding Nv Unsponsored Adr Ordinary Shares | 4.97% | 4.61% | 0.36% |
| MRVLMarvell Technology Group Ltd. | 4.27% | 5.04% | 0.77% |
| AMATApplied Materials, Inc. | 4.19% | 4.44% | 0.25% |
| ADIAnalog Devices, Inc. | 4.40% | 4.02% | 0.38% |
| LRCXLam Research Corp | 4.23% | 4.10% | 0.13% |
94.2% of SMH is already inside SOXQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SMH or SOXQ?
SMH has an expense ratio of 0.35% while SOXQ charges 0.19%. SOXQ is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, SMH or SOXQ?
Over the past year SMH returned +85.18% vs +95.26% for SOXQ, so SOXQ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SMH or SOXQ?
SOXQ has been the more volatile fund at 35.8% annualized versus 33.8% for SMH. Worst drawdown: SMH -45.3% vs SOXQ -46.0%.
Should I hold both SMH and SOXQ?
SMH and SOXQ have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SMH and SOXQ?
94.2% of SMH's money is in holdings SOXQ also owns. 90.5% of SOXQ's is in holdings SMH also owns. They hold 21 positions in common, counted across the 25 positions we hold weights for in SMH and 31 in SOXQ.
Which pays a higher dividend, SMH or SOXQ?
SMH yields 0.20% while SOXQ yields 0.31%, so SOXQ currently pays the higher dividend yield.
Is SOXQ better than SMH?
SOXQ has a lower expense ratio. SMH led over 3Y, 5Y and the full window, SOXQ over 1Y. The two have moved almost in lockstep, correlation 0.99. SOXQ is less concentrated, with 62.5% of the fund in its ten largest positions against 71.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.