Do DRAM and SMH hold the same stocks?

By their latest filings, 6% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, DRAM or SMH?

DRAM has 16% of its weight in S&P 500 names and SMH has 79%, so DRAM differs more from the index.

Which is cheaper, DRAM or SMH?

DRAM charges 0.65% a year and SMH charges 0.35%, so SMH is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

DRAM vs SMH: Holdings Overlap & Returns

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DRAM and SMH hold 6% of their weight in the same names.

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Net assets: $20.6bn on Oct 28, 2026 for Roundhill Memory ETF, and $71.1bn on Oct 27, 2026 for VanEck Semiconductor ETF.

DRAM on its own →SMH on its own →

At a glance

15.7%

DRAM in the S&P 500

79.3%

SMH in the S&P 500

+95.0%

DRAM total return, since launch, Apr 2, 2026

+56.8%

SMH total return, 1 year

DRAM · 6 months to Oct 28, 2026 84% of its weight is outside the S&P 500

16% of DRAM's weight is in S&P 500 companies and 84% is outside the index. Holdings as of Jun 30, 2026.

SMH · 1 year to Oct 28, 2026 21% of its weight is outside the S&P 500

79% of SMH's weight is in S&P 500 companies and 21% is outside the index. Holdings as of Oct 22, 2026.

Pair scorecard

SMH costs 0.30 points a year less; SMH is 3.7 times larger.

Points (pts) are percentage points.

DRAM vs SMH: Holdings Overlap & Returns
Measure	DRAM	SMH
Return
Measure	DRAM	SMH
Total return, 1 year	not published	+56.8%
Drawdown
Measure	DRAM	SMH
Below its all-time high	33.0%, high on Jun 22, 2026	15.1%, high on Jun 22, 2026
Against its benchmark
Measure	DRAM	SMH
What it tracks	Memory and storage	Semiconductors
Its benchmark, total return, 1 year		+13.4%
Against its benchmark, 1 year		ahead by 43.4 pts
Cost and size
Measure	DRAM	SMH
Expense ratio	0.65%	0.35%
Net assets, as of Oct 27, 2026	$19.2bn	$71.1bn
Holdings
Measure	DRAM	SMH
Holdings in common	6%

Holdings in common uses holdings dated Jun 30, 2026 and Oct 27, 2026. Method

Risk and return

Apr 10, 2026 to Oct 23, 2026 · 28 weekly returns

DRAM SMH

Return

Total return edge DRAM +45.1% +20.7%

Price return edge DRAM +45.1% +20.7%

Risk

Max drawdown edge SMH −39.4% −20.1%

Reading

DRAM returned more: +45.1% to +20.7%. SMH fell less at its worst: −20.1% to −39.4%.

Full scorecard

3 measures, with how each is measured Open ↓

Risk and return: DRAM vs SMH: Holdings Overlap & Returns
Measure	DRAM	SMH	Edge	How it is measured
Return
Total return	+45.1%	+20.7%	DRAM	Price change plus distributions, reinvested.
Price return	+45.1%	+20.7%	DRAM	Price change alone, distributions left out.
Risk
Max drawdown	−39.4%	−20.1%	SMH	Deepest fall from a high to the low after it.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 28 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, DRAM and SMH hold 6% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Oct 27, 2026.

50%

0 half 100%

half

6% in common

Positions both hold · largest shared weight first DRAM SMH

SK hynix Inc 15.89% 3.78%

Micron Technology Inc 2.03% 4.67%

Only in one fund ↓

Only in DRAM

Samsung Electronics Co Ltd 14.37%

Sandisk Corp 5.21%

Kioxia Holdings Corp 4.36%

Western Digital Corp 4.30%

Seagate Technology Holdings PL 4.19%

GigaDevice Semiconductor Inc 3.07%

Nanya Technology Corp 1.81%

Winbond Electronics Corp 1.11%

Only in SMH

Nvidia Corp 20.15%

Taiwan Semiconductor Manufacturing Co L 9.65%

Advanced Micro Devices Inc 5.56%

Broadcom Inc 5.52%

Texas Instruments Inc 5.48%

Analog Devices Inc 4.73%

Marvell Technology Inc 4.49%

Asml Holding Nv 4.40%

Check overlap with more funds →

Window by window

Window by window: DRAM vs SMH: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	DRAM	SMH	DRAM	SMH
3 months	+20.7%	+12.6%	not measured	+8.2 pts vs ACWI
6 months	+41.6%	+13.6%	not measured	+6.2 pts vs ACWI
1 year	–	+56.8%	–	+43.4 pts vs ACWI
3 years	–	+316.0%	–	+227.1 pts vs ACWI
Since launchNot the same days: DRAM Apr 2026 · SMH Dec 2011	+95.0%	+4,348.4%	not measured	+3,938.6 pts vs ACWI

– means no data for this window. Open this comparison in the app →

Side by side

DRAM Roundhill Memory ETF · Holds 12 stocks in memory and storage, 16% of its weight in S&P 500 companies SMH VanEck Semiconductor ETF · Holds 25 stocks in semiconductors, 79% of its weight in S&P 500 companies

Issuer Roundhill VanEck

Theme Memory and storage Semiconductors

In the S&P 500 15.7% 79.3%

Active share vs the S&P 500 96.8% 80.7%

In the Nasdaq-100 15.7% 83.1%

Holdings 12 25

Top ten, share of the fund 56.4% 69.0%

Expense ratio 0.65% 0.35%

Fee for the differing part 0.67% 0.43%

Total return, 1 year +95.0% (since launch, Apr 2, 2026) +56.8%

vs its benchmark not measured +43.4 pts vs ACWI

Below its high −33.0% −15.1%

Net assets, DRAM as of Oct 28, 2026 and SMH as of Oct 27, 2026 $20.6bn $71.1bn

As of Oct 28, 2026. Source: ETFIQ.

6% of the two portfolios are the same securities at the same weight.

Client brief

No client brief for this pair: ETFIQ prints no one-year total return for DRAM; the two funds' holdings are dated 119 days apart.

Alert

About each fund

DRAM

By weight, 16% of DRAM's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 56% of the fund across 12 positions, as filed for Jun 30, 2026. Since it first traded on Apr 2, 2026 the fund returned +95.0% with distributions reinvested. It sits 33.0% below its all-time high of Jun 22, 2026.

SMH

By weight, 79% 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 69% of the fund across 25 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +56.8% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 43.4 pts. It sits 15.1% below its all-time high of Jun 22, 2026.

Questions people ask

Do DRAM and SMH hold the same stocks?: By their latest filings, 6% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, DRAM or SMH?: DRAM has 16% of its weight in S&P 500 names and SMH has 79%, so DRAM differs more from the index.
Which is cheaper, DRAM or SMH?: DRAM charges 0.65% a year and SMH charges 0.35%, so SMH is cheaper. Fees come from each fund's prospectus.

Other comparisons

DRAM vs SOXX DRAM vs DISK DRAM vs HBMX DRAM vs GDX SMH vs SMHC SMH vs GDX SMH vs GRID SMH vs XBI

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →DRAM on its own →SMH on its own →DRAM holdings →SMH dividend history →SMH holdings →Method →Standards and sources →

Sources and dates

DRAM filings on SEC EDGAR ↗

DRAM prospectus with the expense ratio (SEC) ↗

Roundhill page for DRAM ↗

SMH filings on SEC EDGAR ↗

SMH prospectus with the expense ratio (SEC) ↗

VanEck website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, DRAM against SMH, data as of Oct 28, 2026. https://etfiq.com/compare/themes/dram-vs-smh

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.