Data as of Oct 28, 2026.
QTUM vs SMH: Holdings Overlap & Returns
Over the year to Oct 28, 2026, QTUM returned +28.9% to SMH's +56.8%; 26% of their weight is in the same names.
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Net assets on Oct 27, 2026: $5.4bn for Defiance Quantum ETF and $71.1bn for VanEck Semiconductor ETF.
38% of QTUM's weight is in S&P 500 companies and 63% 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 0.05 points a year less; their one-year returns differ by 27.9 points; SMH is 13.2 times larger.
Points (pts) are percentage points.
| Measure | QTUM | SMH |
|---|---|---|
| Return | ||
| Total return, 1 year | +28.9% | +56.8% |
| Drawdown | ||
| Below its all-time high | 14.3%, high on Jun 2, 2026 | 15.1%, high on Jun 22, 2026 |
| Against its benchmark | ||
| What it tracks | Quantum computing | Semiconductors |
| Its benchmark, total return, 1 year | +13.4% | |
| Against its benchmark, 1 year | ahead by 43.4 pts | |
| Cost and size | ||
| Expense ratio | 0.40% | 0.35% |
| Net assets, as of Oct 27, 2026 | $5.4bn | $71.1bn |
| Holdings | ||
| Holdings in common | 26% | |
| Top ten holdings, share of the fund | 18% | 69% |
Holdings in common uses holdings dated Oct 27, 2026 and Oct 28, 2026. Method
Risk and return
Sep 14, 2018 to Oct 23, 2026 · 423 weekly returnsSMH returned more: +961.3% to +489.3%. QTUM swung less: 26.3% to 32.2%. QTUM fell less at its worst: −38.1% to −44.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | QTUM | SMH | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +489.3% | +961.3% | SMH | Price change plus distributions, reinvested. |
| Annualized | +24.4% | +33.7% | SMH | Total return as a yearly rate. |
| Price return | +450.1% | +888.4% | SMH | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 26.3% | 32.2% | QTUM | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 17.6% | 20.9% | QTUM | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −38.1% | −44.2% | QTUM | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.86 | 0.98 | SMH | Return above Treasury bills per unit of volatility. |
| Sortino | 1.28 | 1.51 | SMH | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.64 | 0.76 | SMH | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 423 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, QTUM and SMH hold 26% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026 and Oct 28, 2026.
half
26% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | QTUM | SMH | QTUM | SMH |
| 3 months | +9.1% | +12.6% | not measured | +8.2 pts vs ACWI |
| 6 months | +11.2% | +13.6% | not measured | +6.2 pts vs ACWI |
| 1 year | +28.9% | +56.8% | not measured | +43.4 pts vs ACWI |
| 3 years | +229.7% | +316.0% | not measured | +227.1 pts vs ACWI |
| Since launchNot the same days: QTUM Sep 2018 · SMH Dec 2011 | +522.8% | +4,348.4% | not measured | +3,938.6 pts vs ACWI |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
26% of the two portfolios are the same securities at the same weight.
QTUM and SMH are built for the same job. How do they differ in cost, holdings and results?
- Theme. QTUM covers Quantum computing and SMH covers Semiconductors.
- Concentration. The top ten holdings are 18.5% of QTUM and 69.0% of SMH, a gap of 50.5 points.
- What each follows. QTUM follows Quantum computing and SMH follows Semiconductors.
Data as of Oct 28, 2026.
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QTUM
By weight, 38% of QTUM's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 82%. The top ten holdings are 18% of the fund across 85 positions, as published by its issuer for Oct 28, 2026. Over the year to Oct 28, 2026 the fund returned +28.9% with distributions reinvested. It sits 14.3% below its all-time high of Jun 2, 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 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 QTUM and SMH hold the same stocks?
- By their latest filings, 26% 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, QTUM against SMH, data as of Oct 28, 2026. https://etfiq.com/compare/themes/qtum-vs-smh
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