Dividend comparison
SMH vs XSD: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for VanEck Semiconductor ETF and State Street SPDR S&P Semiconductor ETF, side by side. Updated October 21, 2026.
SMH vs XSD: 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. Their trailing yields are almost the same: 0.20% for SMH and 0.17% for XSD. SMH pays annual, XSD pays quarterly.
- Performance. Over the last 5 years, SMH returned 322.6% versus 131.6% for XSD, with dividends reinvested. $10,000 would have grown to $42,258 in SMH and $23,158 in XSD.
- Risk. SMH has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -45.3%, against -42.3% for XSD.
- Diversification. XSD holds 47 positions and SMH holds 26. The ten largest positions make up 68.1% of SMH and 28.9% of XSD.
- Overlap. 28% of the two portfolios overlap by weight, across 15 shared holdings.
- Dividend growth. XSD grew its yearly payout 37.2% 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 $2.5 billion for XSD.
Bottom line: SMH fits better if you care most about stronger 5-year returns. XSD fits better if you care most about 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 | XSD State Street SPDR S&P Semiconductor ETF |
|---|---|---|
| Dividend yield (TTM) | 0.20% | 0.17% |
| Dividend / share (TTM) | $1.10 | $0.80 |
| Payout frequency | Annual | Quarterly |
| Last dividend | $1.1047 on Dec 26, 2025 | $0.1842 on Sep 23, 2026 |
| Ex-dividend date | Dec 22, 2025 | Sep 21, 2026 |
| Dividend growth (CAGR) | 8.9% over 4 yrs | 37.2% over 4 yrs |
| Price | $546.36 | $472.01 |
| Dividend growth streak | 2 years | 1 year |
| Beta | 1.98 | 2.68 |
| Max drawdown (5Y) | -45.3% | -42.3% |
| Market cap | $65.69B | $2.63B |
| Exchange | NASDAQ | AMEX |
| Expense ratio | 0.35% | 0.35% |
| Assets under management | $66.62B | $2.49B |
| Number of holdings | 26 | 47 |
| Top 10 concentration | 68.1% | 28.9% |
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
XSD
$1.42/mo
$17 /yr at 0.17% yield
Dividend history
Total dividends paid per share in each calendar year. SMH pays annual; XSD pays quarterly.
| Year | SMH | XSD |
|---|---|---|
| 2025 | $1.1047 | $0.8288 |
| 2024 | $1.0713 | $0.4911 |
| 2023 | $1.0427 | $0.7032 |
| 2022 | $1.2005 | $0.7386 |
| 2021 | $0.7865 | $0.2341 |
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 $23,158 in XSD.
| Period | SMH | XSD |
|---|---|---|
| 1 month | -4.65% | -6.81% |
| 3 months | -2.23% | -5.82% |
| Year to date | 51.71% | 46.96% |
| 1 year | 57.84% | 34.96% |
| 3 years | 289.73% | 165.58% |
| 5 years | 322.58% | 131.58% |
- SMH
- XSD
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
- XSD
SMH vs XSD holdings overlap
28% overlap by weight, with 15 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 | XSD weight |
|---|---|---|
| ADIAnalog Devices Inc | 4.47% | 2.88% |
| TXNTexas Instruments Inc | 4.99% | 2.82% |
| AMDAdvanced Micro Devices Inc | 5.43% | 2.75% |
| MRVLMarvell Technology Inc | 4.45% | 2.69% |
| QCOMQualcomm Inc | 3.89% | 2.62% |
| NVDANvidia Corp | 20.42% | 2.59% |
| AVGOBroadcom Inc | 5.49% | 2.45% |
| MUMicron Technology Inc | 4.63% | 2.35% |
| INTCIntel Corp | 4.09% | 2.31% |
| MPWRMonolithic Power Systems Inc | 1.23% | 2.78% |
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. XSD fits better if you care most about 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 XSD better for dividend income?
It depends on your goals. SMH currently yields 0.20% Trailing Twelve Months (TTM) while XSD yields 0.17%. 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 XSD?
VanEck Semiconductor ETF (SMH) is an ETF listed on NASDAQ. State Street SPDR S&P Semiconductor ETF (XSD) 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 XSD?
They cost about the same: SMH charges 0.35% a year and XSD charges 0.35%.
Which has performed better, SMH or XSD?
Over the last 5 years, SMH has the higher total return with dividends reinvested: SMH returned 322.6% and XSD returned 131.6%. Past performance does not predict future returns.
Which is riskier, SMH or XSD?
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 XSD as much as 42.3%. Their betas are 1.98 and 2.68.
How much do SMH and XSD overlap?
About 28% of the two portfolios overlap by weight, across 15 shared holdings. The largest shared positions are ADI, TXN, AMD. Holding both still adds meaningful diversification.
How often do SMH and XSD pay dividends?
SMH pays annual and XSD pays quarterly.
How much income does $10,000 in SMH vs XSD generate?
At current TTM yields, $10,000 in SMH would generate roughly $1.68 per month ($20 annually). The same amount in XSD would produce about $1.42 per month ($17 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SMH and XSD?
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 XSD with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SMH and XSD 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.