Data as of .
PSI vs SMHX: which is really different?
PSI and SMHX hold 16% of their weight in the same names, and PSI returned more over the year.
ETFIQ Off-Index Score: PSI scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 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
16% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, PSI and SMHX hold 16% of their money in the same securities at the same weight.
| Holding | PSI | SMHX |
|---|---|---|
| Advanced Micro Devices Inc | 5.69% | 6.38% |
| Semtech Corp | 3.85% | 4.20% |
| SiTime Corp | 2.75% | 3.46% |
| Lattice Semiconductor Corp | 2.54% | 3.31% |
| Power Integrations Inc | 2.45% | 0.68% |
| Only in PSI | Only in SMHX |
|---|---|
| Intel Corp 6.04% | Nvidia Corp 23.10% |
| Micron Technology Inc 5.30% | Broadcom Inc 14.75% |
| Texas Instruments Inc 4.99% | Qualcomm Inc 5.25% |
| Analog Devices Inc 4.89% | Marvell Technology Inc 5.04% |
| KLA Corp 4.70% | Astera Labs Inc 4.22% |
| Applied Materials Inc 4.51% | Arm Holdings Plc 4.13% |
| Lam Research Corp 4.46% | Synopsys Inc 3.97% |
| Cohu Inc 3.03% | Monolithic Power Systems Inc 3.79% |
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 17, 2026 and Sep 19, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| PSI | SMHX | PSI | SMHX | PSI | SMHX | |
| 3 months | −21.8% | −13.9% | −24.0 pts | −16.2 pts | −19.3 pts | −11.4 pts |
| 6 months | +47.3% | +55.4% | +29.3 pts | +37.4 pts | +23.1 pts | +31.2 pts |
| 1 year | +96.1% | +48.5% | +79.5 pts | +31.9 pts | +74.3 pts | +26.7 pts |
| 3 years | +225.9% | not published | +147.5 pts | not published | +127.8 pts | not published |
| Since launch | +3200.3% | +129.6% | +2396.7 pts | +89.6 pts | +1510.0 pts | +75.0 pts |
| PSI Invesco Semiconductors ETF Holds 33 stocks in semiconductors, 48% of its weight in S&P 500 companies | SMHX VanEck Fabless Semiconductor ETF Holds 22 stocks in semiconductors, 66% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Invesco | VanEck |
| Theme | Semiconductors | Semiconductors |
| In the S&P 500 | 48.5% | 65.8% |
| Active share vs the S&P 500 | 92.2% | 87.1% |
| In the Nasdaq-100 | 43.2% | 69.9% |
| Holdings | 33 | 22 |
| Top ten, share of the fund | 47.5% | 74.8% |
| Expense ratio | 0.55% | 0.35% |
| Fee for the differing part | 0.60% | 0.40% |
| Total return, 1 year | +96.1% | +48.5% |
| vs the S&P 500 | +79.5 pts | +31.9 pts |
| vs the Nasdaq-100 | +74.3 pts | +26.7 pts |
| Below its high | −25.8% | −15.9% |
| Net assets | $2.7bn | $267m |
PSI in plain words
By weight, 48% 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 48% of the fund across 33 positions, as published by its issuer for Sep 19, 2026. Over the year to Sep 18, 2026 the fund returned +96.1% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 79.5 pts. It sits 25.8% below its all-time high of Jun 30, 2026.
SMHX in plain words
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 75% of the fund across 22 positions, as published by its issuer for Sep 17, 2026. Over the year to Sep 18, 2026 the fund returned +48.5% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 31.9 pts. It sits 15.9% below its all-time high of Jun 3, 2026.
Questions people ask
- Do PSI and SMHX hold the same stocks?
- By their latest filings, 16% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, PSI or SMHX?
- PSI has 48% of its weight in S&P 500 names and SMHX has 66%, so PSI differs more from the index.
- Which is cheaper, PSI or SMHX?
- PSI charges 0.55% a year and SMHX charges 0.35%, so SMHX 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, PSI against SMHX, data as of Sep 18, 2026. https://etfiq.com/compare/themes/psi-vs-smhx Free to use with attribution; the underlying files are at Open data.