Data as of Nov 4, 2026.
PSI vs SMHX: Holdings Overlap & Returns
Over the year to Nov 4, 2026, PSI returned +50.0% to SMHX's +27.1%; 14% of their weight is in the same names.
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Net assets on Nov 3, 2026: $2.2bn for Invesco Semiconductors ETF and $241m for VanEck Fabless Semiconductor ETF.
51% of PSI's weight is in S&P 500 companies and 49% is outside the index. Holdings as of Nov 3, 2026.
66% of SMHX's weight is in S&P 500 companies and 34% is outside the index. Holdings as of Nov 2, 2026.
Pair scorecard
SMHX costs 0.20 points a year less; their one-year returns differ by 22.9 points; PSI is 9.1 times larger.
Points (pts) are percentage points.
| Measure | PSI | SMHX |
|---|---|---|
| Return | ||
| Total return, 1 year | +50.0% | +27.1% |
| Drawdown | ||
| Below its all-time high | 39.9%, high on Jun 30, 2026 | 25.9%, high on Jun 3, 2026 |
| Against its benchmark | ||
| What it tracks | Semiconductors | Semiconductors |
| Its benchmark, total return, 1 year | +15.0% | |
| Against its benchmark, 1 year | ahead by 12.1 pts | |
| Cost and size | ||
| Expense ratio | 0.55% | 0.35% |
| Net assets, as of Nov 3, 2026 | $2.2bn | $241m |
| Holdings | ||
| Holdings in common | 14% | |
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 6, 2024 to Oct 30, 2026 · 112 weekly returnsFrom Sep 2024 to Oct 2026, PSI and SMHX returned about the same: +134.1% and +133.9%. SMHX swung slightly less: 37.2% to 40.8%. PSI and SMHX fell about the same at their worst: −37.6% and −37.0%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | PSI | SMHX | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +134.1% | +133.9% | Tie | Price change plus distributions, reinvested. |
| Annualized | +48.4% | +48.4% | Tie | Total return as a yearly rate. |
| Price return | +133.6% | +133.7% | Tie | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 40.8% | 37.2% | SMHX (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 26.6% | 23.5% | SMHX | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −37.6% | −37.0% | Tie | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.07 | 1.14 | SMHX (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.65 | 1.81 | SMHX (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 1.29 | 1.31 | Tie | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 112 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, PSI and SMHX hold 14% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
14% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | PSI | SMHX | PSI | SMHX |
| 3 months | −21.0% | −12.5% | not measured | −11.2 pts vs ACWI |
| 6 months | −22.0% | −7.7% | not measured | −10.3 pts vs ACWI |
| 1 year | +50.0% | +27.1% | not measured | +12.1 pts vs ACWI |
| 3 years | +179.8% | – | not measured | – |
| Since launchNot the same days: PSI Jun 2005 · SMHX Aug 2024 | +2,375.2% | +102.4% | not measured | +61.5 pts vs ACWI |
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Side by side
As of Nov 4, 2026. Source: ETFIQ.
14% of the two portfolios are the same securities at the same weight.
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PSI
By weight, 51% of PSI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 49% of the fund across 32 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +50.0% with distributions reinvested. It sits 39.9% below its all-time high of Jun 30, 2026.
SMHX
By weight, 66% of SMHX's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 87%. The top ten holdings are 74% of the fund across 22 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +27.1% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 12.1 pts. It sits 25.9% below its all-time high of Jun 3, 2026.
Questions people ask
- Do PSI and SMHX hold the same stocks?
- By their latest filings, 14% 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, PSI against SMHX, data as of Nov 4, 2026. https://etfiq.com/compare/themes/psi-vs-smhx
ETFIQ. (Nov 4, 2026). PSI against SMHX. Retrieved from https://etfiq.com/compare/themes/psi-vs-smhx
[PSI against SMHX (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/psi-vs-smhx)
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