A head-to-head comparison of VanEck Semiconductor ETF and Direxion Daily Semiconductor Bull 3X Shares covering yield, cost, risk, and income potential.
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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Direxion is known for creating leveraged and inverse ETFs that amplify or reverse the daily movements of underlying indices and sectors. The firm's 22-fund lineup focuses primarily on leveraged long and short strategies across technology, financials, commodities, and broad market segments, with popular tickers including SOXL (3x leveraged semiconductors), SPXL (3x leveraged S&P 500), and TMF (3x leveraged long-term Treasuries). These funds are designed for tactical, short-term trading rather than buy-and-hold investing, making Direxion a niche player catering to experienced investors seeking amplified market exposure or hedging strategies.
See our curated list of related YouTube videos on SOXL.
Seeks daily investment results of 300% of the performance of the ICE Semiconductor Index.
Asset class
Equity
Equity
Inception date
12/20/2011
03/11/2010
Beta
1.98
7.64
Last dividend
$1.1050
$0.0100
Ex-dividend date
12/22/2025
09/23/2025
Bottom lineSMH and SOXL are nearly interchangeable — both offer very similar semiconductors exposure with very similar cost and risk. The clearest tie-breaker is cost: SMH is cheaper at 0.35% vs 0.76%.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
SMH has lagged SOXL over the trailing twelve months, posting a 96.25% total return against 422.25%. The lead holds up over 10 years too: SOXL has compounded at 53.77% a year, against 35.53% for SMH. SMH has been the steadier holding, though — annualized volatility of 36.3% against 114.9% for SOXL. 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 16, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Mar 2010” measures every fund from March 11, 2010 — 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
SMH (VanEck Semiconductor ETF) and SOXL (Direxion Daily Semiconductor Bull 3X Shares) are both dividend ETFs, but they take different approaches.
SMH offers the higher yield at 0.19% vs 0.03% for SOXL. 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 0.76%.
They track different benchmarks: SMH is linked to MVIS US Listed Semiconductor 25 Index while SOXL tracks ICE Semiconductor, which means their performance drivers differ.
SMH is the larger fund by assets ($65.1B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, SMH would generate roughly $1.58/month, while SOXL would produce $0.25/month, at current distribution rates.
SMH yield0.19%
SOXL yield0.03%
Monthly diff on $10K$1.33
Cost & efficiency
Over 10 years on $10,000, SMH would cost approximately $350 in fees vs $760 for SOXL (simplified, not compounded). The $410.00 difference may be offset by yield or performance.
SMH ER0.35%
SOXL ER0.76%
Strategy & risk
SMH tracks MVIS US Listed Semiconductor 25 Index with a technology approach, while SOXL tracks ICE Semiconductor with a leverage approach. Beta is 1.98 for SMH and 7.64 for SOXL, indicating SMH is less volatile relative to the market.
SMH beta1.98
SOXL beta7.64
Fund details
SMH is managed by VanEck (launched 12/20/2011) with $65.1B in assets. SOXL is managed by Direxion (launched 03/11/2010) with $29.7B in assets.
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Frequently asked questions
Is SMH or SOXL 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 SOXL?
SMH (VanEck Semiconductor ETF) tracks MVIS US Listed Semiconductor 25 Index with a technology approach, while SOXL (Direxion Daily Semiconductor Bull 3X Shares) tracks ICE Semiconductor with a leverage approach. They are issued by VanEck and Direxion respectively.
Can I hold both SMH and SOXL?
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 SOXL?
SMH has an expense ratio of 0.35% while SOXL charges 0.76%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SMH vs SOXL generate?
At current rates, $10,000 in SMH would generate roughly $1.58 per month ($19.00 annually). The same in SOXL would produce about $0.25 per month ($3.00 annually).
Which has performed better historically, SMH or SOXL?
SMH has lagged SOXL over the trailing twelve months, posting a 96.25% total return against 422.25%. The lead holds up over 10 years too: SOXL has compounded at 53.77% a year, against 35.53% for SMH. SMH has been the steadier holding, though — annualized volatility of 36.3% against 114.9% for SOXL. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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