Dividend comparison
SMH vs SMHX: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for VanEck Semiconductor ETF and VanEck Fabless Semiconductor ETF, side by side. Updated October 21, 2026.
SMH vs SMHX: key differences
The short answer, from the latest data on this page.
- Fees. Both charge about 0.35% a year, so cost is not what separates them.
- Income. SMH pays more income, yielding 0.20% over the last twelve months versus 0.02% for SMHX. That is about $19 more a year on $10,000. Both pay annual.
- Performance. Over the last 1 year, SMH returned 57.8% versus 38.9% for SMHX, with dividends reinvested. $10,000 would have grown to $15,784 in SMH and $13,894 in SMHX.
- Risk. SMH has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -45.3%, against -38.5% for SMHX.
- Diversification. SMH holds 26 positions and SMHX holds 23. The ten largest positions make up 68.1% of SMH and 74.2% of SMHX.
- Overlap. 47% of the two portfolios overlap by weight, across 10 shared holdings.
- Size. SMH is the larger fund with $66.6 billion in assets, against $250 million for SMHX.
Bottom line: SMH fits better if you care most about stronger 1-year returns. SMHX fits better if you care most about smaller drawdowns.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | SMH VanEck Semiconductor ETF | SMHX VanEck Fabless Semiconductor ETF |
|---|---|---|
| Dividend yield (TTM) | 0.20% | 0.02% |
| Dividend / share (TTM) | $1.10 | $0.01 |
| Payout frequency | Annual | Annual |
| Last dividend | $1.1047 on Dec 26, 2025 | $0.0090 on Dec 26, 2025 |
| Ex-dividend date | Dec 22, 2025 | Dec 22, 2025 |
| Dividend growth (CAGR) | 8.9% over 4 yrs | — |
| Price | $546.36 | $54.73 |
| Dividend growth streak | 2 years | — |
| Beta | 1.98 | 2.37 |
| Max drawdown (5Y) | -45.3% | -38.5% |
| Market cap | $65.69B | $172.2M |
| Exchange | NASDAQ | NASDAQ |
| Expense ratio | 0.35% | 0.35% |
| Assets under management | $66.62B | $250.3M |
| Number of holdings | 26 | 23 |
| Top 10 concentration | 68.1% | 74.2% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
SMH
$1.68/mo
$20 /yr at 0.20% yield
SMHX
$0.14/mo
$2 /yr at 0.02% yield
Dividend history
Total dividends paid per share in each calendar year. SMH pays annual; SMHX pays annual.
| Year | SMH | SMHX |
|---|---|---|
| 2025 | $1.1047 | $0.0090 |
| 2024 | $1.0713 | — |
| 2023 | $1.0427 | — |
| 2022 | $1.2005 | — |
| 2021 | $0.7865 | — |
Strategy: Sector and thematic
Funds that hold a single industry or theme, such as technology, semiconductors, healthcare or energy. Funds covering the same sector can still differ in concentration rules: some cap the largest positions while others let the biggest companies take a quarter of the fund. Sector funds are usually used to tilt a portfolio rather than as its core.
A single sector can fall far further than the broad market and stay down for years, and the largest names often dominate the fund.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Aug 27, 2024 would now be worth $22,468 in SMH and $54,748,614,529 in SMHX.
| Period | SMH | SMHX |
|---|---|---|
| 1 month | -4.65% | -4.07% |
| 3 months | -2.23% | -1.30% |
| Year to date | 51.71% | 43.91% |
| 1 year | 57.84% | 38.94% |
| 3 years | 289.73% | — |
| 5 years | 322.58% | — |
- SMH
- SMHX
Both series indexed to 100 on 2024-08-27 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- SMH
- SMHX
SMH vs SMHX holdings overlap
47% overlap by weight, with 10 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | SMH weight | SMHX weight |
|---|---|---|
| NVDANvidia Corp | 20.42% | 19.89% |
| AVGOBroadcom Inc | 5.49% | 12.27% |
| AMDAdvanced Micro Devices Inc | 5.43% | 7.33% |
| MRVLMarvell Technology Inc | 4.45% | 5.16% |
| QCOMQualcomm Inc | 3.89% | 5.03% |
| CDNSCadence Design Systems Inc | 2.10% | 5.28% |
| SNPSSynopsys Inc | 2.06% | 5.33% |
| MPWRMonolithic Power Systems Inc | 1.23% | 4.80% |
| ALABAstera Labs Inc | 1.00% | 4.39% |
| ARMArm Holdings Plc | 0.98% | 3.98% |
Quick verdict
SMH fits better if you care most about stronger 1-year returns. SMHX fits better if you care most about smaller drawdowns. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how SMH vs SMHX fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is SMH or SMHX better for dividend income?
It depends on your goals. SMH currently yields 0.20% Trailing Twelve Months (TTM) while SMHX yields 0.02%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between SMH and SMHX?
VanEck Semiconductor ETF (SMH) is an ETF listed on NASDAQ. VanEck Fabless Semiconductor ETF (SMHX) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SMH or SMHX?
They cost about the same: SMH charges 0.35% a year and SMHX charges 0.35%.
Which has performed better, SMH or SMHX?
Over the last 1 year, SMH has the higher total return with dividends reinvested: SMH returned 57.8% and SMHX returned 38.9%. Past performance does not predict future returns.
Which is riskier, SMH or SMHX?
Measured by the worst peak-to-trough decline over the last five years, SMH has been riskier: SMH fell as much as 45.3% and SMHX as much as 38.5%. Their betas are 1.98 and 2.37.
How much do SMH and SMHX overlap?
About 47% of the two portfolios overlap by weight, across 10 shared holdings. The largest shared positions are NVDA, AVGO, AMD. Holding both still adds meaningful diversification.
How often do SMH and SMHX pay dividends?
Both pay annual. The most recent payments were $1.1047 for SMH and $0.0090 for SMHX.
How much income does $10,000 in SMH vs SMHX generate?
At current TTM yields, $10,000 in SMH would generate roughly $1.68 per month ($20 annually). The same amount in SMHX would produce about $0.14 per month ($2 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SMH and SMHX?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare SMH vs SMHX with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SMH and SMHX fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
Related comparisons
For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.