Dividend comparison
SMH vs SPMO: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for VanEck Semiconductor ETF and Invesco S&P 500 Momentum ETF, side by side. Updated October 21, 2026.
SMH vs SPMO: key differences
The short answer, from the latest data on this page.
- Fees. SPMO is cheaper at 0.13% a year versus 0.35% for SMH. On $10,000 that is $22 a year less in fees.
- Income. SPMO pays more income, yielding 0.78% over the last twelve months versus 0.20% for SMH. That is about $57 more a year on $10,000. SMH pays annual, SPMO pays semi-annual.
- Performance. Over the last 5 years, SMH returned 322.6% versus 133.8% for SPMO, with dividends reinvested. $10,000 would have grown to $42,258 in SMH and $23,378 in SPMO.
- Risk. SMH has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -45.3%, against -22.7% for SPMO.
- Diversification. SPMO holds 100 positions and SMH holds 26. The ten largest positions make up 68.1% of SMH and 61.2% of SPMO.
- Overlap. 37% of the two portfolios overlap by weight, across 12 shared holdings.
- Dividend growth. SPMO grew its yearly payout 26.9% 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 $22.0 billion for SPMO.
Bottom line: SMH fits better if you care most about stronger 5-year returns. SPMO fits better if you care most about lower fees, more income today, smaller drawdowns, 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 | SPMO Invesco S&P 500 Momentum ETF |
|---|---|---|
| Dividend yield (TTM) | 0.20% | 0.78% |
| Dividend / share (TTM) | $1.10 | $1.10 |
| Payout frequency | Annual | Semi-annual |
| Last dividend | $1.1047 on Dec 26, 2025 | $0.2432 on Sep 25, 2026 |
| Ex-dividend date | Dec 22, 2025 | Sep 21, 2026 |
| Dividend growth (CAGR) | 8.9% over 4 yrs | 26.9% over 4 yrs |
| Price | $546.36 | $141.95 |
| Dividend growth streak | 2 years | 1 year |
| Beta | 1.98 | 1.28 |
| Max drawdown (5Y) | -45.3% | -22.7% |
| Market cap | $65.69B | $14.59B |
| Exchange | NASDAQ | AMEX |
| Expense ratio | 0.35% | 0.13% |
| Assets under management | $66.62B | $21.96B |
| Number of holdings | 26 | 100 |
| Top 10 concentration | 68.1% | 61.2% |
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
SPMO
$6.46/mo
$78 /yr at 0.78% yield
Dividend history
Total dividends paid per share in each calendar year. SMH pays annual; SPMO pays semi-annual.
| Year | SMH | SPMO |
|---|---|---|
| 2025 | $1.1047 | $0.8734 |
| 2024 | $1.0713 | $0.4577 |
| 2023 | $1.0427 | $1.0662 |
| 2022 | $1.2005 | $0.9450 |
| 2021 | $0.7865 | $0.3369 |
Strategy: Factor and momentum
Rules-based funds that tilt toward a single trait linked to long-run returns, such as momentum, quality or low volatility. Momentum funds rebalance into recent winners, quality funds favor high profitability and strong balance sheets, and low-volatility funds pick the steadiest stocks. The same label can hide very different rules, so the index methodology matters more than the name.
Factor tilts go through long dry spells, and momentum funds can turn over quickly and get caught out when market leadership changes.
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 $23,378 in SPMO.
| Period | SMH | SPMO |
|---|---|---|
| 1 month | -4.65% | -4.87% |
| 3 months | -2.23% | -1.35% |
| Year to date | 51.71% | 18.97% |
| 1 year | 57.84% | 17.08% |
| 3 years | 289.73% | 154.30% |
| 5 years | 322.58% | 133.78% |
- SMH
- SPMO
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
- SPMO
SMH vs SPMO holdings overlap
37% overlap by weight, with 12 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 | SPMO weight |
|---|---|---|
| NVDANvidia Corp | 20.42% | 9.24% |
| AVGOBroadcom Inc | 5.49% | 6.40% |
| AMDAdvanced Micro Devices Inc | 5.43% | 5.23% |
| MUMicron Technology Inc | 4.63% | 8.43% |
| INTCIntel Corp | 4.09% | 4.46% |
| LRCXLam Research Corp | 4.07% | 2.58% |
| AMATApplied Materials Inc | 4.16% | 2.39% |
| KLACKla Corp | 4.30% | 1.09% |
| ADIAnalog Devices Inc | 4.47% | 0.98% |
| MRVLMarvell Technology Inc | 4.45% | 0.96% |
Top 10 holdings
Largest positions by portfolio weight.
SMH26 holdings total
Quick verdict
SMH fits better if you care most about stronger 5-year returns. SPMO fits better if you care most about lower fees, more income today, smaller drawdowns, faster dividend growth and broader diversification. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is SMH or SPMO better for dividend income?
It depends on your goals. SMH currently yields 0.20% Trailing Twelve Months (TTM) while SPMO yields 0.78%. 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 SPMO?
VanEck Semiconductor ETF (SMH) is an ETF listed on NASDAQ. Invesco S&P 500 Momentum ETF (SPMO) 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 SPMO?
SPMO has the lower expense ratio. SMH charges 0.35% a year and SPMO charges 0.13%, a difference of $22 a year on a $10,000 investment.
Which has performed better, SMH or SPMO?
Over the last 5 years, SMH has the higher total return with dividends reinvested: SMH returned 322.6% and SPMO returned 133.8%. Past performance does not predict future returns.
Which is riskier, SMH or SPMO?
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 SPMO as much as 22.7%. Their betas are 1.98 and 1.28.
How much do SMH and SPMO overlap?
About 37% of the two portfolios overlap by weight, across 12 shared holdings. The largest shared positions are NVDA, AVGO, AMD. Holding both still adds meaningful diversification.
How often do SMH and SPMO pay dividends?
SMH pays annual and SPMO pays semi-annual.
How much income does $10,000 in SMH vs SPMO generate?
At current TTM yields, $10,000 in SMH would generate roughly $1.68 per month ($20 annually). The same amount in SPMO would produce about $6.46 per month ($78 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SMH and SPMO?
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 SPMO with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SMH and SPMO 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.