VanEck Semiconductor ETF

The VanEck Semiconductor ETF is a sector fund offered by the US-based fund manager VanEck that trades on US exchanges under the ticker SMH. According to the issuer, the fund aims to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS US Listed Semiconductor index.

The index is designed to track the overall performance of companies involved in semiconductor production and semiconductor equipment, and it is a concentrated basket made up of a relatively small number of large, liquid companies. Its scope is not limited to US companies; depositary receipts of Taiwanese, Dutch and other foreign chip companies listed on US exchanges can also enter the index. In this way, the fund gathers graphics processor designers, foundries, memory makers, and lithography and manufacturing equipment suppliers into a single package. Although caps are applied to individual company weights, a few large names account for a high share of the fund's performance.

SMH's course is sensitive to AI infrastructure spending, the semiconductor inventory cycle, US export restrictions targeting China and the earnings reports of large chip companies. Because ETF shares are bought and sold on the exchange during the day, the price may diverge somewhat from net asset value (NAV). The SMH page on Lzzo.com includes the price in dollars, conversion into Turkish lira, euros and pounds sterling, a historical chart, technical indicators, and the data source along with the update time.