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ETF Comparison

SMH vs SOXQ: Same Industry, Different Semi Indexes

A head-to-head of VanEck's Semiconductor ETF and Invesco PHLX Semiconductor covering construction, cost, and concentration.

Updated October 2, 2026

How these figures are calculated: methodology.

Best for

  • SMHInvestors who want broad equity exposure.
  • SOXQInvestors who want broad equity exposure.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

SMH has lagged SOXQ over the trailing twelve months, posting a 89.57% total return against 102.87%. The picture flips over 5 years, though — SMH has compounded at 38.33% a year, ahead of SOXQ at 33.20%. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualizedSince Jun 2021Volatility Sharpe Sortino Max drawdown
SMH68.93%89.57%63.49%38.33%36.26%37.0%1.211.73-35.7%
SOXQ78.81%102.87%57.04%33.20%31.54%39.8%1.031.45-39.4%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jun 2021” measures every fund from June 11, 2021 — the start of shared available history — 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSMHSOXQ
Full nameVanEck Semiconductor ETFInvesco PHLX Semiconductor ETF
IssuerVanEckInvesco
Underlying indexMVIS US Listed Semiconductor 25 IndexPHLX SOX Semiconductor Sector Index
Last Close$630.60 as of October 2, 2026$103.41 as of October 2, 2026
Distribution rate0.18%0.32%
Trailing 12-month yield0.18%0.28%
Distribution Safety Score™ 7990
Safety-Adjusted Yield 0.14%0.29%
Expense ratio0.35%0.19%
AUM$74.6B$3.26B
Distribution frequencyAnnualQuarterly
ObjectiveTrack the MVIS US Listed Semiconductor 25 Index.Tracks the PHLX SOX Semiconductor Sector Index of US-listed semiconductor companies.
Asset classEquityEquity
Inception date12/20/201106/11/2021
Beta2.062.27
Last dividend$1.105$0.084
Ex-dividend date12/22/202509/21/2026

Bottom lineSMH and SOXQ are both for investors who want broad equity exposure — so strategy isn't the deciding factor here. Cost is: SOXQ charges 0.19% against 0.35% for SMH, and between two funds this similar that gap comes straight out of your return every year you hold.

SMH vs SOXQ: two semiconductor indexes

Same industry, different construction. Holdings overlap is high; index rules, concentration, and cost are the live differences.

SMHSOXQ
IndexMVIS US Listed Semiconductor 25 IndexPHLX SOX Semiconductor Sector Index
IssuerVanEckInvesco
Expense ratio0.35%0.19%
Fund size$74.6B$3.26B
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

VanEck
ETFs85
Total AUM$171B

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.

See all VanEck ETFs
Invesco
ETFs246
Total AUM$1012B

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 SOXQ.

See all Invesco ETFs

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Quick verdict

SMH (VanEck Semiconductor ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both dividend ETFs, but they take different approaches.

SOXQ offers the higher yield at 0.32% vs 0.18% for SMH. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SOXQ is cheaper with an expense ratio of 0.19% compared to 0.35%.

They have different reference exposures: SMH is linked to MVIS US Listed Semiconductor 25 Index while SOXQ is linked to PHLX SOX Semiconductor Sector Index, which means their performance drivers differ.

SMH is the larger fund by assets ($74.6B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose SMH

VanEck Semiconductor ETF

  • Want broad equity exposure.
  • Prefer lower volatility — a beta of 2.1 vs 2.3 for SOXQ.

Choose SOXQ

Invesco PHLX Semiconductor ETF

  • Want broad equity exposure.
  • Want to keep costs low — a 0.19% expense ratio vs 0.35% for SMH.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, SMH would generate roughly $18.00 cash per distribution, while SOXQ would produce $8.00 cash per distribution, at current distribution rates.

SMH yield0.18%
SOXQ yield0.32%
Cash diff on $10K$10.00

Cost & efficiency

Over 10 years on $10,000, SMH would cost approximately $350 in fees vs $190 for SOXQ (simplified, not compounded). The $160.00 difference may be offset by yield or performance.

SMH ER0.35%
SOXQ ER0.19%

Strategy & risk

SMH tracks MVIS US Listed Semiconductor 25 Index with a technology approach, while SOXQ tracks PHLX SOX Semiconductor Sector Index. Beta is 2.06 for SMH and 2.27 for SOXQ, making SMH the less volatile of the two by this measure.

SMH beta2.06
SOXQ beta2.27

Fund details

SMH is managed by VanEck (launched 12/20/2011) with $74.6B in assets. SOXQ is managed by Invesco (launched 06/11/2021) with $3.26B in assets.

SMH AUM$74.6B
SOXQ AUM$3.26B
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Frequently asked questions

What is the difference between SMH and SOXQ?

Same industry, two indexes. SMH (VanEck Semiconductor ETF) tracks MVIS US Listed Semiconductor 25 Index. SOXQ (Invesco PHLX Semiconductor ETF) tracks PHLX SOX Semiconductor Sector Index. Cost is 0.35% versus 0.19%; size is $74.6B versus $3.26B. Distributions are 0.18% and 0.32% as of October 2026. Holdings overlap is high; index rules, concentration, and cost are the live differences.

What is the current distribution rate for SMH and SOXQ?

SMH currently distributes 0.18% and SOXQ 0.32%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SMH or SOXQ better for dividend income?

It depends on your goals. SOXQ 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.

Can I hold both SMH and SOXQ?

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.

Is SMH or SOXQ safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SOXQ scores 90, SMH scores 79, so SOXQ's payout currently looks the more resilient of the two. SMH has also shown lower price volatility (beta 2.06 vs 2.27 for SOXQ). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SMH or SOXQ?

SMH has an expense ratio of 0.35% while SOXQ charges 0.19%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in SMH vs SOXQ generate?

At current rates, $10,000 in SMH would generate roughly $18.00 cash per distribution ($18.00 annually). The same in SOXQ would produce about $8.00 cash per distribution ($32.00 annually).

Which has performed better historically, SMH or SOXQ?

SMH has lagged SOXQ over the trailing twelve months, posting a 89.57% total return against 102.87%. The picture flips over 5 years, though — SMH has compounded at 38.33% a year, ahead of SOXQ at 33.20%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SMH vs SOXQ — at a glance

Generated October 3, 2026.

Overview

SMH and SOXQ are both ETFs tracking US-listed semiconductor companies, but they differ in index construction and cost structure. The choice between them hinges on portfolio concentration, fees, and how actively you want your semiconductor allocation rebalanced.

How they differ

SMH holds a capped portfolio of 25 stocks, creating tighter concentration risk but a more static composition between rebalances. SOXQ tracks a broader index with more companies, offering more diversified exposure across the sector. On costs, SOXQ's expense ratio of 0.19% undercuts SMH's 0.35% by 0.16%, a meaningful savings on larger positions. Beta also diverges slightly: SMH sits at 2.06, while SOXQ runs at 2.27, meaning SOXQ amplifies semiconductor sector swings a touch more. On scale, SMH commands $74.6B in assets against SOXQ's $3.26B, a gap reflecting SMH's longer track record since 12/20/2011.

Who each is best for

SMH: Fits investors seeking a tightly curated semiconductor play with a fixed roster of 25 industry leaders; works well for those comfortable with lower distribution frequency and willing to pay a slightly higher expense ratio for a long-established, high-conviction index.

SOXQ: Designed for investors who prefer broader sector exposure with more diversification across semiconductor subsegments, lower fees, and quarterly income; works for those seeking cost efficiency and don't require the stability of a static 25-stock list.

Key risks to know

  • Narrow sector concentration: Both track semiconductors exclusively, so sector downturns—supply-chain disruptions, cyclical demand weakness, or regulatory headwinds affecting chip manufacturers—will move these funds in lockstep. No diversification outside semiconductors buffers the blow.
  • High beta amplification: SMH's beta of 2.06 and SOXQ's 2.27 mean both magnify broad market moves by more than 2×. During equity corrections, these will decline faster than the S&P 500; during rallies, they'll gain more sharply. This volatility suits long-term allocators but creates timing risk for those with short horizons.
  • Index composition drift: SMH's fixed 25-stock construction may lag sector evolution if key winners fall outside the index or decline in weight as the sector reorganizes. SOXQ's broader index may better reflect sector dynamics but introduces tracking differences and rebalancing lag.
  • Liquidity concentration: Top holdings in semiconductors (Taiwan, Samsung, NVIDIA, Intel, Broadcom, others) dominate both indexes. Geopolitical or company-specific shocks to these names will reverberate across both funds simultaneously.

Bottom line

If you value lower fees and broader sector diversification, SOXQ's 0.19% and wider index appeal. If you prefer a tighter, curated selection and don't mind the slightly higher 0.35% cost, SMH's 25-stock focus and longer track record may suit your approach. Both carry high beta and sector concentration; neither function as hedges. Past performance does not guarantee future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

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These comparisons follow the Dividend Vision methodology.