Data as of .
IDEF vs SMH: which is really different?
SMH holds 82.3% of its weight in S&P 500 companies and IDEF 36.1%.
ETFIQ Off-Index Score: IDEF 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, IDEF and SMH hold 0% of their money in the same securities at the same weight.
| Only in IDEF | Only in SMH |
|---|---|
| RTX 6.72% | Nvidia Corp 22.45% |
| PALANTIR TECHNOLOGIES CLASS A 4.71% | Taiwan Semiconductor Manufacturing Co L 9.78% |
| LOCKHEED MARTIN CORP 3.62% | Broadcom Inc 5.91% |
| BOEING 3.32% | Advanced Micro Devices Inc 5.74% |
| ROLLS-ROYCE HOLDINGS PLC 3.30% | Micron Technology Inc 5.65% |
| GENERAL DYNAMICS CORP 2.97% | Asml Holding Nv 5.02% |
| USD CASH 2.72% | Intel Corp 4.34% |
| THALES SA 2.61% | 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 Sep 10, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| IDEF | SMH | IDEF | SMH | IDEF | SMH | |
| 3 months | −1.9% | −8.3% | −5.2 pts | −11.6 pts | −1.1 pts | −7.5 pts |
| 6 months | −8.5% | +46.8% | −24.5 pts | +30.8 pts | −29.2 pts | +26.1 pts |
| 1 year | +4.9% | +87.6% | −12.6 pts | +70.1 pts | −18.1 pts | +64.7 pts |
| 3 years | not published | +285.8% | not published | +207.9 pts | not published | +190.7 pts |
| Since launch | +26.5% | +5026.7% | −6.4 pts | +4222.3 pts | −13.6 pts | +3352.8 pts |
| IDEF iShares Defense Industrials Active ETF Holds 152 stocks in defense, 36% 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 | Defense | Semiconductors |
| In the S&P 500 | 36.1% | 82.3% |
| Active share vs the S&P 500 | 95.9% | 80.6% |
| In the Nasdaq-100 | 8.5% | 80.2% |
| Holdings | 152 | 25 |
| Top ten, share of the fund | 35.2% | 71.7% |
| Expense ratio | not published | 0.35% |
| Fee for the differing part | not published | 0.43% |
| Total return, 1 year | +4.9% | +87.6% |
| vs the S&P 500 | −12.6 pts | +70.1 pts |
| vs the Nasdaq-100 | −18.1 pts | +64.7 pts |
| Below its high | −13.9% | −15.0% |
IDEF in plain words
By weight, 36% of IDEF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 96%. The top ten holdings are 35% of the fund across 152 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +4.9% with distributions reinvested against +17.5% for the S&P 500, so a holder was behind by 12.6 pts. It sits 13.9% below its all-time high of Mar 2, 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, IDEF or SMH?
- IDEF has 36% of its weight in S&P 500 names and SMH has 82%, so IDEF differs more from the index.
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, IDEF against SMH, data as of Sep 11, 2026. https://etfiq.com/compare/themes/idef-vs-smh Free to use with attribution; the underlying files are at Open data.