SMH vs SOXX Stock Comparison: AI Score, Valuation, Performance and Upside
SMH and SOXX are the two dominant semiconductor ETFs, both with 0.35% expense ratios, but with meaningful differences in index construction. SMH includes global giants like TSMC and ASML (accessible via U.S. listings), making it a more complete semiconductor sector fund, while SOXX is a U.S.-company-only fund with slightly broader domestic semiconductor representation. SMH's inclusion of TSMC is a significant differentiator given TSMC's critical role in advanced chip manufacturing.
The SMH vs SOXX choice primarily hinges on whether an investor wants global semiconductor leadership (TSMC, ASML included via SMH) or purely domestic U.S. semiconductor companies — both offer similar concentration and cost profiles, but SMH provides more complete coverage of where chips are actually made.
SOXX holds the edge across 4 of 5 key metrics in this comparison. SOXX has delivered stronger 1-year price return (+48.46% vs +40.46% for SMH).
- prefer the most concentrated and liquid semiconductor ETF by trading volume and assets
- value inclusion of TSMC and ASML as the dominant global foundry and lithography equipment companies
- want the simplest, highest-conviction expression of the largest semiconductor names globally
- are comfortable with extreme top-5 concentration in NVIDIA, TSMC, ASML, and a few others
- prefer a U.S.-company-only semiconductor fund without foreign listing exposure
- value slightly broader diversification across 30 names with cap-weighted rebalancing rules
- want iShares/BlackRock infrastructure and brand for institutional-grade semiconductor sector access
- are comfortable missing TSMC and ASML in exchange for a cleaner domestic semiconductor focus
| Metric | SMH | SOXX |
|---|---|---|
| ETF scorei | 32.6 | 30.8 |
| Latest closei | $508.31 | $453.65 |
| 1M returni | -19.39% | -22.97% |
| 3M returni | -6.81% | -10.58% |
| 6M returni | +0.30% | -1.71% |
| 1Y returni | +40.46% | +48.46% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | SMH | SOXX |
|---|---|---|
| 1Y ago | $13.97K (+39.7%) started 2025-11-03 | $14.81K (+48.1%) started 2025-11-03 |
| 5Y ago | $38.23K (+282.3%) started 2021-11-03 | $29.74K (+197.4%) started 2021-11-03 |
| 10Y ago | $183.66K (+1736.6%) started 2016-11-03 | $150.78K (+1407.8%) started 2016-11-03 |
Hypothetical — past performance does not guarantee future results.
| Metric | SMH | SOXX |
|---|---|---|
| Expense ratioi | 0.35% | 0.33% |
| Total assets (AUM)i | $74.88B | $48.43B |
| Dividend yieldi | 0.18% | 0.22% |
| Trailing P/Ei | 27.16 | 26.67 |
| Betai | 1.82 | 1.89 |
| 52-week change | 40.46% | 48.46% |
| Metric | SMH | SOXX |
|---|---|---|
| 1Y returni | +40.46% | +48.46% |
| 6M returni | +0.30% | -1.71% |
| 3M returni | -6.81% | -10.58% |
| 1M returni | -19.39% | -22.97% |
| 1Y Sharpe ratio | 0.91 | 0.97 |
| Betai | 1.82 | 1.89 |
| Dividend yieldi | 0.18% | 0.22% |
| 5Y CAGR | +29.99% | +23.42% |
Over the past year, SMH and SOXX have moved strongly in the same direction (correlation of 0.99), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | SMH | SOXX |
|---|---|---|---|
| 1Y | Growthi | +39.28% | +47.58% |
| CAGRi | +39.44% | +47.78% | |
| Volatilityi | 40.86% | 47.54% | |
| Sharpe ratioi | 0.91 | 0.97 | |
| Sortino ratioi | 1.28 | 1.37 | |
| Max drawdowni | 24.62% | 30.70% | |
| Current drawdowni | 24.01% | 30.70% | |
| Avg drawdowni | 7.25% | 8.89% | |
| Ulcer Indexi | 9.67% | 12.11% | |
| Max daily dropi | 9.22% | 10.44% | |
| Max wkly dropi | 14.09% | 16.29% | |
| 5Y | Growthi | +270.76% | +186.16% |
| CAGRi | +29.99% | +23.42% | |
| Volatilityi | 37.20% | 39.24% | |
| Sharpe ratioi | 0.77 | 0.62 | |
| Sortino ratioi | 1.12 | 0.90 | |
| Max drawdowni | 45.30% | 45.75% | |
| Current drawdowni | 24.01% | 30.70% | |
| Avg drawdowni | 12.47% | 14.66% | |
| Ulcer Indexi | 16.66% | 18.48% | |
| Max daily dropi | 9.83% | 10.44% | |
| Max wkly dropi | 15.31% | 17.75% | |
| 10Y | Growthi | +1567.11% | +1265.99% |
| CAGRi | +32.51% | +29.89% | |
| Volatilityi | 33.76% | 35.15% | |
| Sharpe ratioi | 0.87 | 0.79 | |
| Sortino ratioi | 1.25 | 1.14 | |
| Max drawdowni | 45.30% | 45.75% | |
| Current drawdowni | 24.01% | 30.70% | |
| Avg drawdowni | 8.82% | 9.83% | |
| Ulcer Indexi | 13.01% | 14.10% | |
| Max daily dropi | 14.41% | 15.23% | |
| Max wkly dropi | 19.23% | 19.88% |
| Category | SMH | SOXX |
|---|---|---|
| Fund name | VanEck Semiconductor ETF | iShares Semiconductor ETF |
| Type | ETF | ETF |
| Expense ratioi | 0.35% | 0.33% |
| Total assets (AUM)i | $74.88B | $48.43B |
| Dividend yieldi | 0.18% | 0.22% |
- Highly concentrated in the largest and most liquid semiconductor companies, matching how most investors want chip sector exposure
- Includes TSMC (via NYSE-listed ADR-equivalent) and ASML, providing non-U.S. semiconductor giant exposure unavailable in SOXX
- High daily trading volume and tight spreads make it the most liquid semiconductor ETF for trading
- Slightly broader diversification than SMH (30 vs 25 holdings) with concentration caps limiting single-name exposure
- Pure U.S. company focus aligns with investors who prefer domestic semiconductor names and want to avoid foreign listing risk
- iShares brand and BlackRock liquidity infrastructure provide institutional-grade secondary market support
- 25-stock limit creates extreme concentration — top 5 holdings can represent 50%+ of assets
- 0.35% expense ratio is higher than broad market ETFs but comparable to other sector funds
- Rebalancing rules can cause significant turnover and tax events when index membership changes
- Exclusion of TSMC and ASML means SOXX misses two of the most strategically important semiconductor companies globally
- U.S.-only focus reduces effective diversification since most U.S. chip companies rely on TSMC for manufacturing
- 0.35% expense ratio matches SMH but provides narrower market coverage
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