Data as of Nov 4, 2026.
FTXL vs SMH: Holdings Overlap & Returns
Over the year to Nov 4, 2026, FTXL returned +66.7% to SMH's +43.4%; 59% of their weight is in the same names.
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Net assets on Nov 3, 2026: $1.1bn for First Trust Nasdaq Semiconductor ETF and $67.3bn for VanEck Semiconductor ETF.
83% of FTXL's weight is in S&P 500 companies and 17% is outside the index. Holdings as of Nov 3, 2026.
79% of SMH's weight is in S&P 500 companies and 21% is outside the index. Holdings as of Nov 2, 2026.
Pair scorecard
SMH costs 0.25 points a year less; their one-year returns differ by 23.3 points; SMH is far larger, $67.3bn against $1.1bn.
Points (pts) are percentage points.
| Measure | FTXL | SMH |
|---|---|---|
| Return | ||
| Total return, 1 year | +66.7% | +43.4% |
| Drawdown | ||
| Below its all-time high | 31.6%, high on Jun 22, 2026 | 24.6%, high on Jun 22, 2026 |
| Against its benchmark | ||
| What it tracks | Semiconductors | Semiconductors |
| Its benchmark, total return, 1 year | +15.0% | |
| Against its benchmark, 1 year | ahead by 28.4 pts | |
| Cost and size | ||
| Expense ratio | 0.60% | 0.35% |
| Net assets, as of Nov 3, 2026 | $1.1bn | $67.3bn |
| Holdings | ||
| Holdings in common | 59% | |
How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed
Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →
Risk and return
Sep 30, 2016 to Oct 30, 2026 · 526 weekly returnsFrom Sep 2016 to Oct 2026, SMH returned more: +1,550.8% to +1,000.8%. SMH swung slightly less: 30.0% to 31.7%. FTXL fell slightly less at its worst: −43.0% to −44.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FTXL | SMH | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +1,000.8% | +1,550.8% | SMH | Price change plus distributions, reinvested. |
| Annualized | +26.8% | +31.9% | SMH | Total return as a yearly rate. |
| Price return | +940.0% | +1,404.2% | SMH | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 31.7% | 30.0% | SMH (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 20.9% | 19.5% | SMH (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −43.0% | −44.2% | FTXL (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.83 | 0.99 | SMH | Return above Treasury bills per unit of volatility. |
| Sortino | 1.26 | 1.53 | SMH | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.62 | 0.72 | SMH | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 526 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FTXL and SMH hold 59% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
59% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | FTXL | SMH | FTXL | SMH |
| 3 months | −12.0% | −11.5% | not measured | −10.2 pts vs ACWI |
| 6 months | −13.0% | −8.3% | not measured | −10.9 pts vs ACWI |
| 1 year | +66.7% | +43.4% | not measured | +28.4 pts vs ACWI |
| 3 years | +205.7% | +241.8% | not measured | +164.2 pts vs ACWI |
| Since launchNot the same days: FTXL Sep 2016 · SMH Dec 2011 | +968.0% | +3,851.6% | not measured | +3,444.2 pts vs ACWI |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
59% of the two portfolios are the same securities at the same weight.
Client brief:
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FTXL
By weight, 83% of FTXL'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 60% of the fund across 37 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +66.7% with distributions reinvested. It sits 31.6% 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 70% of the fund across 25 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +43.4% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 28.4 pts. It sits 24.6% below its all-time high of Jun 22, 2026.
Questions people ask
- Do FTXL and SMH hold the same stocks?
- By their latest filings, 59% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, FTXL against SMH, data as of Nov 4, 2026. https://etfiq.com/compare/themes/ftxl-vs-smh
ETFIQ. (Nov 4, 2026). FTXL against SMH. Retrieved from https://etfiq.com/compare/themes/ftxl-vs-smh
[FTXL against SMH (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/ftxl-vs-smh)
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