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ETF Comparison

SMHX vs SOXX: Which Is the Better Pick in 2026?

A head-to-head comparison of VanEck Fabless Semiconductor ETF and iShares Semiconductor ETF covering yield, cost, risk, and income potential.

Data updated September 18, 2026

Best for

  • SMHXInvestors 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.

SMHX has lagged SOXX over the trailing twelve months, posting a 52.81% total return against 106.86%. Measured from Aug 2024 — the start of shared available history — SOXX has compounded at 52.77% a year versus 49.83% for SMHX. 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.
SymbolYTD1YSince Aug 2024Volatility Sharpe Sortino Max drawdown
SMHX45.97%52.81%49.83%41.6%0.921.27-24.9%
SOXX70.23%106.86%52.77%46.1%1.482.11-29.0%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 18, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Aug 2024” measures every fund from August 28, 2024 — 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 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSMHXSOXX
Full nameVanEck Fabless Semiconductor ETFiShares Semiconductor ETF
IssuerVanEckiShares
Underlying indexMarketVector US Listed Fabless Semiconductor IndexICE Semiconductor Index
Last Close$57.05 as of September 18, 2026$533.07 as of September 18, 2026
Distribution rate0.02%0.24%
Distribution Safety Score™ 5066
Safety-Adjusted Yield —0.16%
Expense ratio0.35%0.33%
AUM$272M$42.3B
Distribution frequencyAnnualQuarterly
ObjectiveSeeks 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.Tracks the ICE Semiconductor Index of US-listed semiconductor companies.
Asset classEquityEquity
Inception date08/27/202407/10/2001
Beta2.25042.33
Last dividend$0.009$0.325 payable today
Ex-dividend date12/22/202509/15/2026

Bottom lineSMHX 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.

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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$167B

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 SMHX.

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iShares
ETFs466
Total AUM$4608B

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.

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Quick verdict

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

SOXX offers the higher yield at 0.24% vs 0.02% for SMHX. 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: SMHX is linked to MarketVector US Listed Fabless Semiconductor Index while SOXX is linked to ICE Semiconductor Index, which means their performance drivers differ.

SOXX is the larger fund by assets ($42.3B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, SMHX would generate roughly $0.17/month, while SOXX would produce $2.00/month, at current distribution rates.

SMHX yield0.02%
SOXX yield0.24%
Monthly diff on $10K$1.83

Cost & efficiency

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

SMHX ER0.35%
SOXX ER0.33%

Strategy & risk

SMHX tracks MarketVector US Listed Fabless Semiconductor Index with a technology approach, while SOXX tracks ICE Semiconductor Index. Beta is 2.2504 for SMHX and 2.33 for SOXX, making SMHX the less volatile of the two by this measure.

SMHX beta2.2504
SOXX beta2.33

Fund details

SMHX is managed by VanEck (launched 08/27/2024) with $272M in assets. SOXX is managed by iShares (launched 07/10/2001) with $42.3B in assets.

SMHX AUM$272M
SOXX AUM$42.3B
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Frequently asked questions

What is the current distribution rate for SMHX and SOXX?

SMHX currently distributes 0.02% and SOXX 0.24%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SMHX 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.

What is the difference between SMHX and SOXX?

SMHX (VanEck Fabless Semiconductor ETF) tracks MarketVector US Listed Fabless Semiconductor Index with a technology approach, while SOXX (iShares Semiconductor ETF) tracks ICE Semiconductor Index. They are issued by VanEck and iShares respectively.

Can I hold both SMHX 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 SMHX 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 — SOXX scores 66, SMHX scores 50, so SOXX's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SMHX or SOXX?

SMHX 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 SMHX vs SOXX generate?

At current rates, $10,000 in SMHX would generate roughly $0.17 per month ($2.00 annually). The same in SOXX would produce about $2.00 per month ($24.00 annually).

Which has performed better historically, SMHX or SOXX?

SMHX has lagged SOXX over the trailing twelve months, posting a 52.81% total return against 106.86%. Measured from Aug 2024 — the start of shared available history — SOXX has compounded at 52.77% a year versus 49.83% for SMHX. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

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SMHX vs SOXX — at a glance

Generated September 19, 2026.

Overview

SMHX and SOXX are both ETFs tracking semiconductor industry indexes, but they focus on different segments. SMHX targets fabless semiconductor companies—firms that design chips but outsource fabrication to manufacturers—using the MarketVector US Listed Fabless Semiconductor Index. SOXX tracks the entire semiconductor ecosystem, including fabless designers, integrated device manufacturers (IDMs), and memory producers, via the ICE Semiconductor Index. The key distinction is SMHX's narrower, design-focused strategy versus SOXX's broader exposure to the full semiconductor supply chain.

How they differ

SMHX's fabless-only mandate captures pure chip designers without manufacturing assets or capital intensity, while SOXX includes capital-heavy foundries and memory companies, creating materially different risk and return profiles. SOXX is an established fund launched in 07/10/2001 with $42.3B in assets; SMHX is brand-new, launched 08/27/2024, with $272M in AUM, reflecting its very recent inception. Both carry low expense ratios (0.35% and 0.33%, respectively), though SOXX's lower cost reflects its larger scale. Beta figures are nearly identical at 2.2504 (SMHX) and 2.33 (SOXX), indicating comparable volatility relative to the broad market.

Who each is best for

SMHX: Fits investors seeking concentrated exposure to the fabless design segment—firms like Nvidia, AMD, and Broadcom—and comfortable accepting the concentration risk and higher volatility of a narrower industry subsegment.

Key risks to know

  • Fabless concentration (SMHX): A portfolio limited to design-stage companies excludes the diversification that integrated manufacturers and memory producers provide; weakness in chip design demand or concentration among a few mega-cap design firms can amplify losses relative to the broader semiconductor sector.
  • Cyclicality and capex exposure (SOXX): The inclusion of capital-intensive foundries and memory manufacturers exposes SOXX to semiconductor industry cycles and capex volatility; downturns in chip demand can pressure profitability and distribution sustainability more sharply than in design-only portfolios.
  • Newness and liquidity (SMHX): At 2 years, SMHX has minimal operational history and trading volume; limited price discovery and potential for wide bid-ask spreads increase execution risk for larger positions.
  • Earnings and guidance sensitivity: Both funds are highly sensitive to semiconductor company earnings reports and forward guidance; revisions to AI demand expectations or supply-chain concerns can trigger sharp price swings.

Bottom line

SMHX offers pure-play exposure to the highest-margin segment of semiconductors (chip design) with narrow concentration risk; SOXX provides broad semiconductor exposure with two decades of track record, larger liquidity, and higher yield. The choice hinges on whether you want design-only concentration or full-chain diversification, and on your confidence in the semiconductor cycle outlook.

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

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