Data as of Oct 28, 2026.
KWEB vs SMH: Holdings Overlap & Returns
Over the year to Oct 28, 2026, KWEB returned −40.6% to SMH's +56.8%; 0% of their weight is in the same names.
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Net assets: $4.3bn on Oct 28, 2026 for KraneShares CSI China Internet ETF, and $71.1bn on Oct 27, 2026 for VanEck Semiconductor ETF.
0% of KWEB's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 28, 2026.
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 0.34 points a year less; their one-year returns differ by 97.4 points; SMH is 16.5 times larger.
Points (pts) are percentage points.
| Measure | KWEB | SMH |
|---|---|---|
| Return | ||
| Total return, 1 year | −40.6% | +56.8% |
| Drawdown | ||
| Below its all-time high | 73.4%, high on Feb 17, 2021 | 15.1%, high on Jun 22, 2026 |
| Against its benchmark | ||
| What it tracks | Internet and e-commerce | Semiconductors |
| Its benchmark, total return, 1 year | +13.4% | |
| Against its benchmark, 1 year | ahead by 43.4 pts | |
| Cost and size | ||
| Expense ratio | 0.69% | 0.35% |
| Net assets, as of Oct 27, 2026 | $4.3bn | $71.1bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Oct 27, 2026 and Oct 28, 2026. Method
Risk and return
Aug 9, 2013 to Oct 23, 2026 · 689 weekly returnsSMH returned more: +3,085.2% to +14.8%. SMH swung less: 27.8% to 35.3%. SMH fell less at its worst: −44.2% to −79.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | KWEB | SMH | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +14.8% | +3,085.2% | SMH | Price change plus distributions, reinvested. |
| Annualized | +1.0% | +29.9% | SMH | Total return as a yearly rate. |
| Price return | −10.9% | +2,666.0% | SMH | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 35.3% | 27.8% | SMH | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 23.5% | 18.2% | SMH | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −79.9% | −44.2% | SMH | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.15 | 1.01 | SMH | Return above Treasury bills per unit of volatility. |
| Sortino | 0.22 | 1.55 | SMH | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.01 | 0.67 | SMH | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 689 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, KWEB and SMH hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026 and Oct 28, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | KWEB | SMH | KWEB | SMH |
| 3 months | −17.3% | +12.6% | not measured | +8.2 pts vs ACWI |
| 6 months | −17.9% | +13.6% | not measured | +6.2 pts vs ACWI |
| 1 year | −40.6% | +56.8% | not measured | +43.4 pts vs ACWI |
| 3 years | −3.2% | +316.0% | not measured | +227.1 pts vs ACWI |
| Since launchNot the same days: KWEB Aug 2013 · SMH Dec 2011 | +12.7% | +4,348.4% | not measured | +3,938.6 pts vs ACWI |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
KWEB and SMH are built for the same job. How do they differ in cost, holdings and results?
- Theme. KWEB covers Internet and e-commerce and SMH covers Semiconductors.
- What each follows. KWEB follows Internet and e-commerce and SMH follows Semiconductors.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 28, 2026 and Oct 27, 2026).
Data as of Oct 28, 2026.
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KWEB
By weight, 0% of KWEB's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 62% of the fund across 45 positions, as published by its issuer for Oct 28, 2026. Over the year to Oct 28, 2026 the fund returned −40.6% with distributions reinvested. It sits 73.4% below its all-time high of Feb 17, 2021.
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 KWEB and SMH hold the same stocks?
- By their latest filings, 0% 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
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, KWEB against SMH, data as of Oct 28, 2026. https://etfiq.com/compare/themes/kweb-vs-smh
ETFIQ. (Oct 28, 2026). KWEB against SMH. Retrieved from https://etfiq.com/compare/themes/kweb-vs-smh
[KWEB against SMH (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/kweb-vs-smh)
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