ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Invesco is a major ETF provider known for offering a comprehensive lineup spanning multiple asset classes and investment strategies. The company specializes in income-focused products including dividend, covered call, and bond strategies, while also maintaining broad exposure across equity, factor-based, thematic, and ESG investing themes. Invesco's portfolio ranges from index-tracking funds to alternatives and specialized offerings like digital assets and BulletShares, making it one of the more expansive ETF families available to investors.
See our curated list of related YouTube videos on PSI.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
VanEck is known for offering specialized and thematic ETFs across diverse asset classes, including commodities, digital assets, and sector-specific investments. The firm's 22-fund lineup spans income-generating options, covered call strategies, and growth-focused equity funds, with popular tickers including GDX (gold miners), SMH (semiconductors), MOAT (competitive advantage stocks), and HODL (bitcoin). VanEck distinguishes itself through niche exposure areas such as digital assets, commodities, and thematic investing strategies, complemented by traditional bond and municipal bond offerings.
See our curated list of related YouTube videos on SMH.
Bottom linePSI and SMH are nearly interchangeable — both offer very similar technology exposure with very similar cost and risk. The clearest tie-breaker is cost: SMH is cheaper at 0.35% vs 0.57%.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
PSI has outpaced SMH over the trailing twelve months, posting a 151.51% total return against 103.94%. The picture flips over 10 years, though — SMH has compounded at 35.29% a year, ahead of PSI at 32.63%. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 23, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jun 2005” measures every fund from June 23, 2005 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
PSI (Invesco Semiconductors ETF) and SMH (VanEck Semiconductor ETF) are both dividend ETFs, but they take different approaches.
SMH offers the higher yield at 0.19% vs 0.04% for PSI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SMH is cheaper with an expense ratio of 0.35% compared to 0.57%.
SMH is the larger fund by assets ($67.4B), which generally means tighter spreads and better liquidity.
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On a $10,000 investment, PSI would generate roughly $0.33/month, while SMH would produce $1.58/month, at current distribution rates.
PSI yield0.04%
SMH yield0.19%
Monthly diff on $10K$1.25
Cost & efficiency
Over 10 years on $10,000, PSI would cost approximately $570 in fees vs $350 for SMH (simplified, not compounded). The $220.00 difference may be offset by yield or performance.
PSI ER0.57%
SMH ER0.35%
Strategy & risk
PSI is an ETF, while SMH tracks MVIS US Listed Semiconductor 25 Index with a technology approach. Beta is 2.26 for PSI and 1.98 for SMH, indicating SMH is less volatile relative to the market.
PSI beta2.26
SMH beta1.98
Fund details
PSI is managed by Invesco (launched 06/23/2005) with $2.40B in assets. SMH is managed by VanEck (launched 12/20/2011) with $67.4B in assets.
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Frequently asked questions
Is PSI or SMH better for dividend income?
It depends on your goals. SMH currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between PSI and SMH?
PSI (Invesco Semiconductors ETF) is an ETF, while SMH (VanEck Semiconductor ETF) tracks MVIS US Listed Semiconductor 25 Index with a technology approach. They are issued by Invesco and VanEck respectively.
Can I hold both PSI and SMH?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, PSI or SMH?
PSI has an expense ratio of 0.57% while SMH charges 0.35%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in PSI vs SMH generate?
At current rates, $10,000 in PSI would generate roughly $0.33 per month ($4.00 annually). The same in SMH would produce about $1.58 per month ($19.00 annually).
Which has performed better historically, PSI or SMH?
PSI has outpaced SMH over the trailing twelve months, posting a 151.51% total return against 103.94%. The picture flips over 10 years, though — SMH has compounded at 35.29% a year, ahead of PSI at 32.63%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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