Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
SMH vs VUG: how they differ
Over the year SMH returned more, +87.6% against +12.9%, and VUG charges 0.03% against 0.35%.
VanEck Semiconductor ETF and Vanguard Growth Index Fund.
What they hold in common
By the books each fund has filed, SMH and VUG hold 0% of their money in the same securities at the same weight.
| Only in SMH | Only in VUG |
|---|---|
| Nvidia Corp 22.45% | NVIDIA Corp 12.63% |
| Taiwan Semiconductor Manufacturing Co L 9.78% | Apple Inc 11.67% |
| Broadcom Inc 5.91% | Microsoft Corp 7.62% |
| Advanced Micro Devices Inc 5.74% | Alphabet Inc 5.76% |
| Micron Technology Inc 5.65% | Alphabet Inc 4.54% |
| Asml Holding Nv 5.02% | Amazon.com Inc 4.47% |
| Intel Corp 4.34% | Broadcom Inc 4.29% |
| Lam Research Corp 4.29% | Meta Platforms Inc 3.41% |
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 Jun 30, 2026 and Sep 10, 2026.
| SMH VanEck Semiconductor ETF | VUG Vanguard Growth Index Fund | |
|---|---|---|
| Where it sits | Thematic ETF | Core index fund |
| Issuer | VanEck | Vanguard |
| What it is | Semiconductors | US growth |
| Total return, 1 year | +87.6% | +12.9% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +70.1 pts | −4.6 pts |
| Expense ratio | 0.35% | 0.03% |
| Already in the S&P 500 | 82.3% | 97.4% |
| Holdings | 25 | 147 |
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.
VUG in plain words
VUG is an index equity fund tracking the US growth. Over the year to Sep 11, 2026 it returned +12.9% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.03% a year. By its holdings filed for Jun 30, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 147 positions, with the top ten at 60.5%.
Questions people ask
- Which returned more over the last year, SMH or VUG?
- In the year to Sep 13, 2026, with distributions reinvested, SMH returned +87.6% and VUG returned +12.9%, so SMH returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, SMH or VUG?
- SMH charges 0.35% a year and VUG charges 0.03%, so VUG is cheaper. Fees come from each fund's prospectus.
- How much do SMH and VUG overlap with the S&P 500?
- By their latest filed holdings, 82% of SMH and 97% of VUG 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 SMH and VUG the same kind of fund?
- No. SMH is a thematic ETF and VUG is an index 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, SMH against VUG, data as of Sep 13, 2026. https://etfiq.com/compare/any/smh-vs-vug Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources