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ETF Comparison

SMH vs SOXX: Same Industry, Two Semiconductor Indexes

A head-to-head of VanEck Semiconductor and iShares Semiconductor covering index construction, concentration, and cost.

Updated October 2, 2026

How these figures are calculated: methodology.

Best for

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

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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 SOXX over the trailing twelve months, posting a 89.57% total return against 113.79%. The picture flips over 10 years, though — SMH has compounded at 35.00% a year, ahead of SOXX at 33.00%. 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 annualized10Y annualizedSince Jul 2001Volatility Sharpe Sortino Max drawdown
SMH68.93%89.57%63.49%38.33%35.00%17.30%37.0%1.211.73-35.7%
SOXX88.06%113.79%55.69%32.67%33.00%14.41%39.8%1.011.43-41.4%

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 Jul 2001” measures every fund from July 13, 2001 — 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.
MetricSMHSOXX
Full nameVanEck Semiconductor ETFiShares Semiconductor ETF
IssuerVanEckiShares
Underlying indexMVIS US Listed Semiconductor 25 IndexICE Semiconductor Index
Last Close$630.60 as of October 2, 2026$588.90 as of October 2, 2026
Distribution rate0.18%0.22%
Trailing 12-month yield0.18%0.21%
Distribution Safety Score™ 7966
Safety-Adjusted Yield 0.14%0.15%
Expense ratio0.35%0.33%
AUM$74.6B$48.9B
Distribution frequencyAnnualQuarterly
ObjectiveTrack the MVIS US Listed Semiconductor 25 Index.Tracks the ICE Semiconductor Index of US-listed semiconductor companies.
Asset classEquityEquity
Inception date12/20/201107/10/2001
Beta2.062.33
Last dividend$1.105$0.325
Ex-dividend date12/22/202509/15/2026

Bottom lineSMH and SOXX are both for investors who want broad equity exposure — so strategy isn't the deciding factor here. Fees and payouts are close too, so it comes down to which your broker offers commission-free and any share-price or tax-lot preference.

SMH vs SOXX: two semiconductor indexes

Same industry, different semiconductor indexes and concentration.

SMHSOXX
IndustrySemiconductorsSemiconductors
Expense ratio0.35%0.33%
Distribution rate0.18%0.22%
Fund size$74.6B$48.9B
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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
iShares
ETFs466
Total AUM$4683B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on SOXX.

See all iShares ETFs

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Quick verdict

SMH (VanEck Semiconductor ETF) and SOXX (iShares Semiconductor ETF) are both dividend ETFs, but they take different approaches.

SOXX offers the higher yield at 0.22% vs 0.18% for SMH. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SOXX is cheaper with an expense ratio of 0.33% compared to 0.35%.

They have different reference exposures: SMH is linked to MVIS US Listed Semiconductor 25 Index while SOXX is linked to ICE Semiconductor 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 SOXX.

Choose SOXX

iShares Semiconductor ETF

  • Want broad equity exposure.
  • Want to keep costs low — a 0.33% 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 SOXX would produce $5.50 cash per distribution, at current distribution rates.

SMH yield0.18%
SOXX yield0.22%
Cash diff on $10K$12.50

Cost & efficiency

Over 10 years on $10,000, SMH would cost approximately $350 in fees vs $330 for SOXX (simplified, not compounded). The $20.00 difference may be offset by yield or performance.

SMH ER0.35%
SOXX ER0.33%

Strategy & risk

SMH tracks MVIS US Listed Semiconductor 25 Index with a technology approach, while SOXX tracks ICE Semiconductor Index. Beta is 2.06 for SMH and 2.33 for SOXX, making SMH the less volatile of the two by this measure.

SMH beta2.06
SOXX beta2.33

Fund details

SMH is managed by VanEck (launched 12/20/2011) with $74.6B in assets. SOXX is managed by iShares (launched 07/10/2001) with $48.9B in assets.

SMH AUM$74.6B
SOXX AUM$48.9B
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Frequently asked questions

What is the difference between SMH and SOXX?

SMH (VanEck Semiconductor ETF) and SOXX (iShares Semiconductor ETF) both hold semiconductor stocks. Indexes, concentration, and cost differ; yield is not why people compare them. Cost is 0.35% versus 0.33%; size is $74.6B versus $48.9B. Distributions are 0.18% and 0.22% as of October 2026. Index construction, not a tiny yield gap, is the comparison.

What is the current distribution rate for SMH and SOXX?

SMH currently distributes 0.18% and SOXX 0.22%, 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 SOXX better for dividend income?

It depends on your goals. SOXX 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 SOXX?

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 SOXX safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SMH scores 79, SOXX scores 66, so SMH's payout currently looks the more resilient of the two. SMH has also shown lower price volatility (beta 2.06 vs 2.33 for SOXX). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SMH or SOXX?

SMH has an expense ratio of 0.35% while SOXX charges 0.33%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in SMH would generate roughly $18.00 cash per distribution ($18.00 annually). The same in SOXX would produce about $5.50 cash per distribution ($22.00 annually).

Which has performed better historically, SMH or SOXX?

SMH has lagged SOXX over the trailing twelve months, posting a 89.57% total return against 113.79%. The picture flips over 10 years, though — SMH has compounded at 35.00% a year, ahead of SOXX at 33.00%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SMH vs SOXX — at a glance

Generated October 3, 2026.

Overview

SMH and SOXX are both large-cap semiconductor ETFs tracking different US semiconductor indexes. The core difference is index construction: SMH uses a narrower, fixed 25-name methodology while SOXX uses a broader ICE framework, and the two indexes likely weight their holdings differently—a distinction that can drive meaningful performance gaps.

How they differ

The most significant difference is index scope and construction rules. This structural difference typically affects concentration: a 25-name index is more concentrated in its top holdings than a larger basket.

On fees, SOXX edges ahead with an expense ratio of 0.33%, versus SMH at 0.35%—a gap of 0.02% basis points. Beta differences are notable too: SOXX shows 2.33, compared to SMH's 2.06, suggesting SOXX carries modestly higher systematic risk. SMH has significantly larger assets at $74.6B versus $48.9B.

  • SOXX: Investors who prefer quarterly dividend cash flow, favor a fractionally lower expense ratio, or find SOXX's broader ICE methodology more aligned with their view of the semiconductor sector.

Key risks to know

  • Semiconductor cycle risk: Both funds have beta above 2.0, meaning they amplify broad market moves significantly. Semiconductor demand is cyclical, and downturns in chip spending can drive sharp declines in both funds simultaneously.
  • Index concentration: SMH's 25-name mandate concentrates holdings more than SOXX's broader index. A correction driven by weakness in SMH's largest positions could hit the fund disproportionately hard relative to the broader sector.
  • Valuation multiple compression: Semiconductors are cyclical growth stocks. In rising-rate environments or economic slowdowns, earnings multiples for these companies often contract, pressuring both funds' NAVs even if earnings remain flat.
  • Overlap in holdings: Both funds hold US-listed semiconductors, so their top 10 positions are likely to overlap significantly. Diversification benefits between holding both are limited. Both carry substantial cyclical and sector concentration risk that dominates the choice between them. Past performance doesn't predict 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.