Data as of Oct 28, 2026.
SHLD vs SMH: Holdings Overlap & Returns
Over the year to Oct 28, 2026, SHLD returned −6.5% to SMH's +56.8%; 0% of their weight is in the same names.
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Net assets: $6.3bn on Oct 12, 2026 for Global X Defense Tech ETF, and $71.1bn on Oct 27, 2026 for VanEck Semiconductor ETF.
45% of SHLD's weight is in S&P 500 companies and 55% is outside the index. Holdings as of May 31, 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 0.15 points a year less; their one-year returns differ by 63.3 points; SMH is 11.3 times larger.
Points (pts) are percentage points.
| Measure | SHLD | SMH |
|---|---|---|
| Return | ||
| Total return, 1 year | −6.5% | +56.8% |
| Drawdown | ||
| Below its all-time high | 18.6%, high on Mar 9, 2026 | 15.1%, high on Jun 22, 2026 |
| Against its benchmark | ||
| What it tracks | Defense | Semiconductors |
| Its benchmark, total return, 1 year | +13.4% | |
| Against its benchmark, 1 year | ahead by 43.4 pts | |
| Cost and size | ||
| Expense ratio | 0.50% | 0.35% |
| Net assets, as of Oct 12, 2026 | $6.3bn | $71.2bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated May 31, 2026 and Oct 27, 2026. Method
What they share
By the books each fund has filed, SHLD and SMH hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | SHLD | SMH | SHLD | SMH |
| 3 months | +2.0% | +12.6% | not measured | +8.2 pts vs ACWI |
| 6 months | −4.7% | +13.6% | not measured | +6.2 pts vs ACWI |
| 1 year | −6.5% | +56.8% | not measured | +43.4 pts vs ACWI |
| 3 years | +156.5% | +316.0% | not measured | +227.1 pts vs ACWI |
| Since launchNot the same days: SHLD Sep 2023 · SMH Dec 2011 | +160.2% | +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.
SHLD
By weight, 45% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 59% of the fund across 48 positions, as filed for May 31, 2026. Over the year to Oct 28, 2026 the fund returned −6.5% with distributions reinvested. It sits 18.6% below its all-time high of Mar 9, 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 SHLD 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.
Cite this pageCitation, APA and Markdown
ETFIQ, SHLD against SMH, data as of Oct 28, 2026. https://etfiq.com/compare/themes/shld-vs-smh
ETFIQ. (Oct 28, 2026). SHLD against SMH. Retrieved from https://etfiq.com/compare/themes/shld-vs-smh
[SHLD against SMH (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/shld-vs-smh)
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