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 and SMHX.
MarketVector US Listed Fabless Semiconductor Index
Objective
Track the MVIS US Listed Semiconductor 25 Index.
Seeks to track, before fees and expenses, the price and yield performance of the MarketVector US Listed Fabless Semiconductor Index, which is composed of U.S.-listed fabless semiconductor companies that design and sell chips while outsourcing fabrication.
Asset class
Equity
Equity
Inception date
12/20/2011
08/27/2024
Beta
1.98
2.2504
Last dividend
$1.1050
$0.0090
Ex-dividend date
12/22/2025
12/22/2025
Bottom lineSMH and SMHX are nearly interchangeable — both offer very similar semiconductors exposure with very similar cost and risk. Fees are effectively identical, so it comes down to which your broker offers commission-free and any share-price or tax-lot preference.
Most used
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
SMH has outpaced SMHX over the trailing twelve months, posting a 103.94% total return against 77.47%. Measured from Aug 2024 — when the younger fund began trading — SMH has compounded at 59.45% a year versus 56.15% for SMHX. 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 Aug 2024” measures every fund from August 28, 2024 — 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 past year. 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 past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
SMH (VanEck Semiconductor ETF) and SMHX (VanEck Fabless Semiconductor ETF) are both annual-pay dividend ETFs, but they take different approaches.
SMH offers the higher yield at 0.19% vs 0.02% for SMHX. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
They track different benchmarks: SMH is linked to MVIS US Listed Semiconductor 25 Index while SMHX tracks MarketVector US Listed Fabless Semiconductor Index, which means their performance drivers differ.
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, SMH would generate roughly $1.58/month, while SMHX would produce $0.17/month, at current distribution rates. Both pay annual distributions.
SMH yield0.19%
SMHX yield0.02%
Monthly diff on $10K$1.42
Cost & efficiency
Over 10 years on $10,000, SMH would cost approximately $350 in fees vs $350 for SMHX (simplified, not compounded). Both charge the same expense ratio.
SMH ER0.35%
SMHX ER0.35%
Strategy & risk
SMH tracks MVIS US Listed Semiconductor 25 Index with a technology approach, while SMHX tracks MarketVector US Listed Fabless Semiconductor Index with a technology approach. Beta is 1.98 for SMH and 2.2504 for SMHX, indicating SMH is less volatile relative to the market.
SMH beta1.98
SMHX beta2.2504
Fund details
SMH is managed by VanEck (launched 12/20/2011) with $67.4B in assets. SMHX is managed by VanEck (launched 08/27/2024) with $253M in assets.
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Frequently asked questions
Is SMH or SMHX 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 SMH and SMHX?
SMH (VanEck Semiconductor ETF) tracks MVIS US Listed Semiconductor 25 Index with a technology approach, while SMHX (VanEck Fabless Semiconductor ETF) tracks MarketVector US Listed Fabless Semiconductor Index with a technology approach. They are issued by VanEck and VanEck respectively.
Can I hold both SMH and SMHX?
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, SMH or SMHX?
SMH and SMHX both charge the same expense ratio of 0.35%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.
How much income does $10,000 in SMH vs SMHX generate?
At current rates, $10,000 in SMH would generate roughly $1.58 per month ($19.00 annually). The same in SMHX would produce about $0.17 per month ($2.00 annually).
Which has performed better historically, SMH or SMHX?
SMH has outpaced SMHX over the trailing twelve months, posting a 103.94% total return against 77.47%. Measured from Aug 2024 — when the younger fund began trading — SMH has compounded at 59.45% a year versus 56.15% for SMHX. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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