Data as of .
BAI vs SMH: which is really different?
SMH holds 82.3% of its weight in S&P 500 companies and BAI 54.8%.
ETFIQ Off-Index Score: SMH scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 371 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, BAI and SMH hold 34% of their money in the same securities at the same weight.
| Holding | BAI | SMH |
|---|---|---|
| MICRON TECHNOLOGY | 6.48% | 5.65% |
| NVIDIA | 5.32% | 22.45% |
| ADVANCED MICRO DEVICES | 4.77% | 5.74% |
| BROADCOM INC | 4.75% | 5.91% |
| TAIWAN SEMICONDUCTOR MANUFACTURING | 4.69% | 9.78% |
| LAM RESEARCH | 4.06% | 4.29% |
| INTEL CORPORATION | 2.84% | 4.34% |
| MARVELL TECHNOLOGY | 2.34% | 4.17% |
| Only in BAI | Only in SMH |
|---|---|
| SPACE EXPLORATION TECHNOLOGIES COR 3.01% | Asml Holding Nv 5.02% |
| SNOWFLAKE 3.00% | Analog Devices Inc 4.26% |
| LUMENTUM HOLDINGS 2.91% | Texas Instruments Inc 4.25% |
| ELITE MATERIAL 2.75% | Applied Materials Inc 4.24% |
| WESTERN DIGITAL CORP 2.69% | Qualcomm Inc 4.21% |
| ASIA VITAL COMPONENTS 2.55% | Kla Corp 3.84% |
| SANDISK 2.49% | Cadence Design Systems Inc 1.91% |
| ALPHABET CLASS A 2.45% | Synopsys Inc 1.87% |
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 Sep 10, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| BAI | SMH | BAI | SMH | BAI | SMH | |
| 3 months | −9.1% | −8.3% | −12.3 pts | −11.6 pts | −8.3 pts | −7.5 pts |
| 6 months | +34.1% | +46.8% | +18.1 pts | +30.8 pts | +13.4 pts | +26.1 pts |
| 1 year | +32.3% | +87.6% | +14.8 pts | +70.1 pts | +9.3 pts | +64.7 pts |
| 3 years | not published | +285.8% | not published | +207.9 pts | not published | +190.7 pts |
| Since launch | +80.9% | +5026.7% | +47.2 pts | +4222.3 pts | +35.4 pts | +3352.8 pts |
| BAI iShares A.I. Innovation and Tech Active ETF Holds 52 stocks in artificial intelligence, 55% of its weight in S&P 500 companies | SMH VanEck Semiconductor ETF Holds 25 stocks in semiconductors, 82% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | iShares | VanEck |
| Theme | Artificial intelligence | Semiconductors |
| In the S&P 500 | 54.8% | 82.3% |
| Active share vs the S&P 500 | 76.5% | 80.6% |
| In the Nasdaq-100 | 49.5% | 80.2% |
| Holdings | 52 | 25 |
| Top ten, share of the fund | 41.8% | 71.7% |
| Expense ratio | 0.55% | 0.35% |
| Fee for the differing part | 0.72% | 0.43% |
| Total return, 1 year | +32.3% | +87.6% |
| vs the S&P 500 | +14.8 pts | +70.1 pts |
| vs the Nasdaq-100 | +9.3 pts | +64.7 pts |
| Below its high | −17.9% | −15.0% |
BAI in plain words
By weight, 55% of BAI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 76%. The top ten holdings are 42% of the fund across 52 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +32.3% with distributions reinvested against +17.5% for the S&P 500, so a holder was ahead by 14.8 pts. It sits 17.9% below its all-time high of Jun 22, 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 is more different from the S&P 500, BAI or SMH?
- BAI has 55% of its weight in S&P 500 names and SMH has 82%, so SMH differs more from the index.
- Which is cheaper, BAI or SMH?
- BAI charges 0.55% a year and SMH charges 0.35%, so SMH is cheaper. Fees come from each fund's prospectus.
Other comparisons
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, BAI against SMH, data as of Sep 11, 2026. https://etfiq.com/compare/themes/bai-vs-smh Free to use with attribution; the underlying files are at Open data.