Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
QQQM vs SMH: how they differ
Over the year SMH returned more, +87.6% against +23.0%, and QQQM charges 0.15% against 0.35%.
Invesco NASDAQ 100 ETF and VanEck Semiconductor ETF.
What they hold in common
By the books each fund has filed, QQQM and SMH hold 0% of their money in the same securities at the same weight.
| Only in QQQM | Only in SMH |
|---|---|
| NVIDIA Corp. 8.16% | Nvidia Corp 22.45% |
| Apple Inc. 7.29% | Taiwan Semiconductor Manufacturing Co L 9.78% |
| Microsoft Corp. 5.32% | Broadcom Inc 5.91% |
| Micron Technology, Inc. 4.80% | Advanced Micro Devices Inc 5.74% |
| Amazon.com, Inc. 4.62% | Micron Technology Inc 5.65% |
| Advanced Micro Devices, Inc. 3.70% | Asml Holding Nv 5.02% |
| Alphabet Inc. 3.52% | Intel Corp 4.34% |
| Tesla, Inc. 3.46% | Lam Research Corp 4.29% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Sep 10, 2026.
| QQQM Invesco NASDAQ 100 ETF | SMH VanEck Semiconductor ETF | |
|---|---|---|
| Where it sits | Core index fund | Thematic ETF |
| Issuer | Invesco | VanEck |
| What it is | Nasdaq-100 | Semiconductors |
| Total return, 1 year | +23.0% | +87.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +5.5 pts | +70.1 pts |
| Expense ratio | 0.15% | 0.35% |
| Already in the S&P 500 | 96.7% | 82.3% |
| Holdings | 101 | 25 |
QQQM in plain words
QQQM is an index equity fund tracking the Nasdaq-100. Over the year to Sep 11, 2026 it returned +23.0% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.15% a year. By its holdings filed for May 31, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 101 positions, with the top ten at 47.5%. It sat 4.1% below its high of Jun 2, 2026 on Sep 11, 2026.
SMH in plain words
By weight, 82% of SMH's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 81%. The top ten holdings are 72% of the fund across 25 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +87.6% with distributions reinvested against +17.5% for the S&P 500, so a holder was ahead by 70.1 pts. It sits 15.0% below its all-time high of Jun 22, 2026.
Questions people ask
- Which returned more over the last year, QQQM or SMH?
- In the year to Sep 12, 2026, with distributions reinvested, QQQM returned +23.0% and SMH returned +87.6%, so SMH returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, QQQM or SMH?
- QQQM charges 0.15% a year and SMH charges 0.35%, so QQQM is cheaper. Fees come from each fund's prospectus.
- How much do QQQM and SMH overlap with the S&P 500?
- By their latest filed holdings, 97% of QQQM and 82% of SMH by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
- Are QQQM and SMH the same kind of fund?
- No. QQQM is an index ETF and SMH is a thematic ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, QQQM against SMH, data as of Sep 12, 2026. https://etfiq.com/compare/any/QQQM-SMH Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources