Data as of .
DRAM vs SMH: which is really different?
SMH holds 82.3% of its weight in S&P 500 companies and DRAM 20.0%.
ETFIQ Off-Index Score: DRAM 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, DRAM and SMH hold 0% of their money in the same securities at the same weight.
| Only in DRAM | Only in SMH |
|---|---|
| TREASURY BILL 27.17% | Nvidia Corp 22.45% |
| SK hynix Inc 20.19% | Taiwan Semiconductor Manufacturing Co L 9.78% |
| Samsung Electronics Co Ltd 18.26% | Broadcom Inc 5.91% |
| Sandisk Corp 6.62% | Advanced Micro Devices Inc 5.74% |
| Kioxia Holdings Corp 5.54% | Micron Technology Inc 5.65% |
| Western Digital Corp 5.46% | Asml Holding Nv 5.02% |
| Seagate Technology Holdings PL 5.32% | Intel Corp 4.34% |
| GigaDevice Semiconductor Inc 3.90% | 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 Jun 30, 2026 and Sep 10, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| DRAM | SMH | DRAM | SMH | DRAM | SMH | |
| 3 months | −9.1% | −8.3% | −12.4 pts | −11.6 pts | −8.3 pts | −7.5 pts |
| 6 months | not published | +46.8% | not published | +30.8 pts | not published | +26.1 pts |
| 1 year | not published | +87.6% | not published | +70.1 pts | not published | +64.7 pts |
| 3 years | not published | +285.8% | not published | +207.9 pts | not published | +190.7 pts |
| Since launch | +112.9% | +5026.7% | +96.1 pts | +4222.3 pts | +90.6 pts | +3352.8 pts |
| DRAM Roundhill Memory ETF Holds 13 stocks in memory and storage, 20% 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 | Roundhill | VanEck |
| Theme | Memory and storage | Semiconductors |
| In the S&P 500 | 20.0% | 82.3% |
| Active share vs the S&P 500 | 96.8% | 80.6% |
| In the Nasdaq-100 | 20.0% | 80.2% |
| Holdings | 13 | 25 |
| Top ten, share of the fund | 97.3% | 71.7% |
| Expense ratio | 0.65% | 0.35% |
| Fee for the differing part | 0.67% | 0.43% |
| Total return, 1 year | +112.9% (since launch on Apr 2, 2026) | +87.6% |
| vs the S&P 500 | +96.1 pts | +70.1 pts |
| vs the Nasdaq-100 | +90.6 pts | +64.7 pts |
| Below its high | −26.8% | −15.0% |
DRAM in plain words
By weight, 20% 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 97% of the fund across 13 positions, as filed for Jun 30, 2026. Since it launched on Apr 2, 2026 the fund returned +112.9% with distributions reinvested against +16.8% for the S&P 500, so a holder was ahead by 96.1 pts. It sits 26.8% 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, DRAM or SMH?
- DRAM has 20% of its weight in S&P 500 names and SMH has 82%, 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
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, DRAM against SMH, data as of Sep 11, 2026. https://etfiq.com/compare/themes/dram-vs-smh Free to use with attribution; the underlying files are at Open data.