Dividend comparison
SMH vs SOXL: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for VanEck Semiconductor ETF and Direxion Daily Semiconductor Bull 3X ETF, side by side. Updated October 21, 2026.
SMH vs SOXL: key differences
The short answer, from the latest data on this page.
- Fees. SMH is cheaper at 0.35% a year versus 0.91% for SOXL. On $10,000 that is $56 a year less in fees.
- Income. SMH pays more income, yielding 0.20% over the last twelve months versus 0.10% for SOXL. That is about $11 more a year on $10,000. Both pay annual.
- Performance. Over the last 5 years, SMH returned 322.6% versus 127.5% for SOXL, with dividends reinvested. $10,000 would have grown to $42,258 in SMH and $22,750 in SOXL.
- Risk. SOXL has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -90.5%, against -45.3% for SMH.
- Diversification. SOXL holds 44 positions and SMH holds 26. The ten largest positions make up 68.1% of SMH and 41.7% of SOXL.
- Overlap. At least 55% of the two portfolios overlap by weight, across 24 shared holdings.
- Dividend growth. SOXL grew its yearly payout 47.2% a year over the last 4 years, versus 8.9% for SMH.
- Size. SMH is the larger fund with $66.6 billion in assets, against $21.9 billion for SOXL.
Bottom line: SMH fits better if you care most about lower fees, stronger 5-year returns and smaller drawdowns. SOXL fits better if you care most about faster dividend growth and broader diversification.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | SMH VanEck Semiconductor ETF | SOXL Direxion Daily Semiconductor Bull 3X ETF |
|---|---|---|
| Dividend yield (TTM) | 0.20% | 0.10% |
| Dividend / share (TTM) | $1.10 | $0.09 |
| Payout frequency | Annual | Annual |
| Last dividend | $1.1047 on Dec 26, 2025 | $0.0929 on Sep 29, 2026 |
| Ex-dividend date | Dec 22, 2025 | Sep 22, 2026 |
| Dividend growth (CAGR) | 8.9% over 4 yrs | 47.2% over 4 yrs |
| Price | $546.36 | $97.55 |
| Dividend growth streak | 2 years | — |
| Beta | 1.98 | 7.64 |
| Max drawdown (5Y) | -45.3% | -90.5% |
| Market cap | $65.69B | $25.92B |
| Exchange | NASDAQ | AMEX |
| Expense ratio | 0.35% | 0.91% |
| Assets under management | $66.62B | $21.89B |
| Number of holdings | 26 | 44 |
| Top 10 concentration | 68.1% | 41.7% |
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
SOXL
$0.79/mo
$10 /yr at 0.10% yield
Dividend history
Total dividends paid per share in each calendar year. SMH pays annual; SOXL pays annual.
| Year | SMH | SOXL |
|---|---|---|
| 2025 | $1.1047 | $0.1428 |
| 2024 | $1.0713 | $0.3211 |
| 2023 | $1.0427 | $0.1589 |
| 2022 | $1.2005 | $0.1038 |
| 2021 | $0.7865 | $0.0304 |
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 Oct 20, 2021 would now be worth $42,258 in SMH and $22,750 in SOXL.
| Period | SMH | SOXL |
|---|---|---|
| 1 month | -4.65% | -21.07% |
| 3 months | -2.23% | -28.65% |
| Year to date | 51.71% | 132.26% |
| 1 year | 57.84% | 131.11% |
| 3 years | 289.73% | 496.27% |
| 5 years | 322.58% | 127.50% |
- SMH
- SOXL
Both series indexed to 100 on 2021-10-20 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
- SOXL
SMH vs SOXL holdings overlap
At least 55% overlap by weight, with 24 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 | SOXL weight |
|---|---|---|
| AMDAdvanced Micro Devices Inc | 5.43% | 6.26% |
| NVDANvidia Corp | 20.42% | 5.38% |
| AVGOBroadcom Inc | 5.49% | 4.95% |
| MUMicron Technology Inc | 4.63% | 5.17% |
| INTCIntel Corp | 4.09% | 5.63% |
| MRVLMarvell Technology Inc | 4.45% | 3.07% |
| ADIAnalog Devices Inc | 4.47% | 2.98% |
| TXNTexas Instruments Inc | 4.99% | 2.90% |
| QCOMQualcomm Inc | 3.89% | 2.79% |
| KLACKla Corp | 4.30% | 2.60% |
Top 10 holdings
Largest positions by portfolio weight.
SMH26 holdings total
Quick verdict
SMH fits better if you care most about lower fees, stronger 5-year returns and smaller drawdowns. SOXL fits better if you care most about faster dividend growth and broader diversification. 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 SOXL fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is SMH or SOXL better for dividend income?
It depends on your goals. SMH currently yields 0.20% Trailing Twelve Months (TTM) while SOXL yields 0.10%. 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 SOXL?
VanEck Semiconductor ETF (SMH) is an ETF listed on NASDAQ. Direxion Daily Semiconductor Bull 3X ETF (SOXL) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SMH or SOXL?
SMH has the lower expense ratio. SMH charges 0.35% a year and SOXL charges 0.91%, a difference of $56 a year on a $10,000 investment.
Which has performed better, SMH or SOXL?
Over the last 5 years, SMH has the higher total return with dividends reinvested: SMH returned 322.6% and SOXL returned 127.5%. Past performance does not predict future returns.
Which is riskier, SMH or SOXL?
Measured by the worst peak-to-trough decline over the last five years, SOXL has been riskier: SMH fell as much as 45.3% and SOXL as much as 90.5%. Their betas are 1.98 and 7.64.
How much do SMH and SOXL overlap?
At least 55% of the two portfolios overlap by weight, across 24 shared holdings. The largest shared positions are AMD, NVDA, AVGO. Holding both still adds meaningful diversification.
How often do SMH and SOXL pay dividends?
Both pay annual. The most recent payments were $1.1047 for SMH and $0.0929 for SOXL.
How much income does $10,000 in SMH vs SOXL generate?
At current TTM yields, $10,000 in SMH would generate roughly $1.68 per month ($20 annually). The same amount in SOXL would produce about $0.79 per month ($10 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SMH and SOXL?
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 SOXL with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SMH and SOXL 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.
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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.