Semiconductor ETFs
Query: Semiconductor ETFs · data as of 2026-10-12
Built a semiconductor/chip ETF screen covering the 7 active US-listed chip-focused funds in coverage (SMH, SMHX, CHPX, DRAM, DISK, SMHC, plus chip-heavy XNTK), sorted by 1Y return descending, with AUM, expense ratio, 1M/3M/6M/1Y returns, % from 52W high, % above 150D SMA, relative volume, RSI and technical pattern flags plus top holdings symbols. Noted that SOXX, XSD, PSI, FTXL are not in active coverage and leveraged/inverse products (SOXL, SOXS, USD, SSG) are excluded, and added a forward-looking narrative on the semiconductor cycle and AI compute/memory/foundry/equipment sub-themes plus per-fund qualitative commentary.
Semiconductor & chip ETF screen as of October 12, 2026: the active US-listed chip ETF universe spans broad semis, fabless design, AI/quantum semis, memory, and China semis. Broad compute-oriented funds (CHPX, SMH, SMHX, XNTK) still hold positive 12-month returns and trade above their 150-day trend, while the memory funds are in a sharp monthly drawdown and China semis lag materially. Long-time staples such as SOXX, XSD, PSI and FTXL are not in current active coverage, and leveraged/inverse products (SOXL, SOXS, USD, SSG) are excluded.
Semiconductor & Chip ETFs
| Symbol | Fund Name | ETF Theme | AUM ($B) | Expense Ratio | 1M Return | 3M Return | 6M Return | 1Y Return | % From 52W High | % Above 150D SMA | Relative Volume | RSI (14) | Technical Pattern Flags | Top Holdings (symbols) | Comments |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CHPX | Global X AI Semiconductor & Quantum ETF | AI Semiconductors & Quantum | 0.2576 | 0.50% | 2.40% | 1.77% | 45.39% | 77.41% | -11.50% | 11.01% | 0.6195 | 46.5271 | Uptrend | MU, TSM, NVDA, AVGO, AMD, 2454.TW, ASML, MRVL, 000660.KQ, INTC | The most AI/quantum-tilted expression in the set: a concentrated basket of leading-edge compute and memory names with meaningful Taiwanese and Korean ADR/local exposure, so it carries country and currency risk on top of chip beta. The 'quantum' sleeve adds a speculative, sentiment-driven kicker — pairs well as a thematic satellite rather than a core holding. |
| SMH | VanEck Semiconductor ETF | Semiconductors | 67.8225 | 0.35% | 3.95% | -1.55% | 33.30% | 71.73% | -11.65% | 8.56% | 0.767 | 47.6741 | Uptrend | NVDA, TSM, AMD, AVGO, MU, AMAT, INTC, TXN, KLAC, ASML | The category bellwether and the lowest-cost way to own the broad chip complex, blending logic, memory, analog and equipment. Its concentrated mega-cap AI weighting means index-level returns hinge on a handful of accelerator and foundry names, but the breadth of sub-sectors makes it far less fragile than a memory- or fabless-only fund. Expect it to be the default institutional expression through the cycle. |
| SMHX | VanEck Fabless Semiconductor ETF | Fabless Semiconductors | 0.2711 | 0.35% | 5.01% | -0.27% | 37.74% | 47.72% | -12.27% | 9.34% | 1.915 | 48.7091 | Uptrend | NVDA, AVGO, AMD, MRVL, ALAB, QCOM, CRDO, CDNS, MPWR, ARM | Purest fabless-design exposure — the highest 'compute-beta' basket here, leaning on merchant accelerator and connectivity silicon rather than fabs. That makes it the most sensitive to the mix shift toward custom hyperscaler silicon: it wins if merchant design demand broadens, but single-name concentration and one large GPU vendor's share of the basket are the key risks. |
| XNTK | State Street SPDR NYSE Technology ETF | Technology | 2.2191 | 0.35% | 4.91% | 4.68% | 34.44% | 35.06% | -3.32% | 11.66% | 0.8515 | 52.8635 | Uptrend | MU, INTC, MRVL, AMD, CRWD, LRCX, AMAT, ASML, ANET, TSM | Not a pure semiconductor fund — it is a broad NYSE technology basket that happens to be heavily chip-weighted, so it dilutes chip-specific upside with software and networking names. Useful as a chip proxy with less cyclical torque; the lower drawdown from its high reflects that diversified composition. |
| DRAM | Roundhill Memory ETF | Memory | 13.8793 | 0.65% | -7.41% | -10.63% | 63.10% | — | -32.21% | — | 0.7479 | 39.682 | nan | 005930.KQ, 000660.KQ, FGXXX, STX | The highest-torque way to play the memory cycle, with heavy Korean megacap memory exposure. Its sharp monthly pullback against a still-positive six-month base signals a pricing-led pause rather than a demand break — memory is historically the first sub-sector to turn and the sharpest to rebound, so this is the contrarian cyclical candidate if HBM and conventional DRAM pricing stabilize. |
| DISK | Tema Memory ETF | Memory | — | 0.75% | -11.63% | -16.02% | — | — | -32.17% | — | 0.5233 | 35.2516 | nan | SNDK, 285A.T, 000660.KQ, MU, AEHR, 402340.KQ, STX, 005930.KQ, WDC | A newer, narrowly constructed memory basket spanning NAND/flash, storage, and equipment/testing names, with notable non-US listings. Thin trading liquidity and a high fee for a single factor make it a tactical tool; its deeper drawdown reflects both the memory reset and early-stage flow volatility. |
| SMHC | VanEck China Semiconductor ETF | China Semiconductors | 0.006811 | 0.65% | -12.61% | -34.82% | — | — | -41.38% | — | 0.1494 | 29.9472 | nan | 688256.SS, 688041.SS, 002371.SZ, 688008.SS, 688012.SS, 603986.SS, 1347.HK, 002463.SZ, 688072.SS, 002384.SZ | A pure domestic-substitution story distinct from the global AI cycle: Chinese chip names driven by policy support, import replacement, and local foundry/equipment buildout. Recent underperformance reflects a separate risk regime — export controls, China equity sentiment and policy headlines — so it should be sized as a policy bet, not as AI-compute exposure. Very small asset base and low trading volume. |
Semiconductor Cycle & Key Sub-Themes
Semiconductor Cycle — Forward-Looking Context
Where the cycle stands. The group is in a late-cycle consolidation with a two-tier tape: the last month has been a de-risking of the AI-hardware supply chain rather than a demand break. The VanEck Semiconductor ETF (SMH) is still up sharply over 12 months but has given back roughly a tenth from its high, and every broad chip fund now trades below its 52-week high with a positive but narrowing cushion above its 150-day trend line — a classic momentum reset inside an intact uptrend, not a breakdown. Notably, the memory complex (Roundhill Memory, Tema Memory) has unwound hardest, with double-digit monthly declines that contrast sharply with still-positive 6-month returns. That is the signature of a pricing-led pause in one of the hottest sub-sectors rather than a durable slowdown.
AI compute. The dominant driver remains hyperscaler accelerator demand. The key debate for the next 2-4 quarters is mix shift: custom silicon (in-house accelerators from the largest cloud buyers) is scaling at multi-gigawatt levels, which supports foundry and advanced-packaging demand but compresses the premium available to merchant GPU vendors. For ETF holders this means the index-level return increasingly depends on broad compute capex rather than a single vendor's pricing power. Watch earnings call commentary on rack-scale system shipments versus chip-level units.
Memory. The most cyclical and highest-beta sub-theme. HBM (high-bandwidth memory) tied to AI accelerators is the structural growth engine, but conventional DRAM/NAND pricing remains the swing factor and has driven the recent drawdown. Korean and Japanese memory leaders dominate the holdings of the memory-focused funds, so these ETFs carry substantial non-US and currency exposure. A memory upcycle turn is historically the sharpest inflection in the whole semiconductor complex — high risk, high torque.
Foundry & equipment. Foundry (Taiwan Semiconductor and its advanced-node peers) is the toll-booth on all AI silicon; leading-edge capex for 2nm and below plus advanced packaging capacity keeps the equipment makers (lithography, deposition, etch, metrology, test) structurally bid. Equipment names are later-cycle and lumpier — they tend to peak after fab construction orders, so they lag memory at cycle turns and lead at recoveries.
Sub-theme positioning read-through. Fabless-design funds carry the highest mega-cap AI concentration and purest compute beta; broad semiconductor funds blend compute, memory, equipment, and analog for lower single-name risk; China semiconductor exposure is a separate policy/domestic-substitution story that has been the weakest leg of late. The memory-only products are the highest-volatility expression of the cycle. Investors worried about concentration in one link of the chain can diversify across compute, memory and equipment rather than picking a single sub-theme.
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