Data as of Oct 28, 2026.
SMH vs XT: Holdings Overlap & Returns
Over the year to Oct 28, 2026, SMH returned +56.8% to XT's +22.1%; 18% of their weight is in the same names.
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Net assets on Oct 27, 2026: $71.1bn for VanEck Semiconductor ETF and $4.1bn for iShares Future Exponential Technologies ETF.
79% of SMH's weight is in S&P 500 companies and 21% is outside the index. Holdings as of Oct 22, 2026.
66% of XT's weight is in S&P 500 companies and 35% is outside the index. Holdings as of Oct 27, 2026.
Pair scorecard
SMH costs 0.11 points a year less; their one-year returns differ by 34.7 points; SMH is 17.3 times larger.
Points (pts) are percentage points.
| Measure | SMH | XT |
|---|---|---|
| Return | ||
| Total return, 1 year | +56.8% | +22.1% |
| Drawdown | ||
| Below its all-time high | 15.1%, high on Jun 22, 2026 | |
| Against its benchmark | ||
| What it tracks | Semiconductors | Broad innovation and megatrends |
| Its benchmark, total return, 1 year | +13.4% | +13.4% |
| Against its benchmark, 1 year | ahead by 43.4 pts | ahead by 8.7 pts |
| Cost and size | ||
| Expense ratio | 0.35% | 0.46% |
| Net assets, as of Oct 27, 2026 | $71.1bn | $4.1bn |
| Holdings | ||
| Holdings in common | 18% | |
How different its holdings are from the S&P 500, ranked against 112 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed
A percentile among the 112 thematic ETFs with at least half their money in S&P 500 companies. 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 →
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Apr 2, 2015 to Oct 23, 2026 · 603 weekly returns · each against ACWISMH returned more: +2,052.3% to +292.0%. XT swung less: 19.0% to 29.1%. XT fell less at its worst: −34.3% to −44.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SMH | XT | ACWI | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +2,052.3% | +292.0% | SMH | Price change plus distributions, reinvested. | |
| Annualized | +30.3% | +12.5% | SMH | Total return as a yearly rate. | |
| Price return | +1,820.2% | +225.6% | SMH | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 29.1% | 19.0% | XT | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 19.0% | 13.2% | XT | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −44.2% | −34.3% | XT | Deepest fall from a high to the low after it. | |
| Upside capture | 221.9% | 123.1% | 100.0% | SMH | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 119.8% | 108.7% | 100.0% | XT (slight) | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.44 | 1.11 | 1.00 | XT lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.64 | 0.89 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.98 | 0.60 | SMH | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.50 | 0.87 | SMH | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.198 | 0.103 | 0.092 | SMH | Return above Treasury bills per unit of beta. |
| Calmar | 0.68 | 0.36 | SMH | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | ACWI | ACWI | ACWI | The ETF each fund is measured against. | |
| Alpha | +15.3% a year | +1.1% a year | 0.0% | SMH significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 2.95 | 0.61 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | +5.1% to +25.4% | −2.5% to +4.7% | XT's includes zero | The 95% range for the yearly alpha. | |
| Information ratio | 1.02 | 0.33 | SMH | Return against its benchmark per unit of tracking error. | |
| Tracking error | 18.9% | 6.5% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 603 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SMH and XT hold 18% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
18% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | SMH | XT | SMH | XT |
| 3 months | +12.6% | +10.2% | +8.2 pts vs ACWI | +5.8 pts vs ACWI |
| 6 months | +13.6% | +14.0% | +6.2 pts vs ACWI | +6.6 pts vs ACWI |
| 1 year | +56.8% | +22.1% | +43.4 pts vs ACWI | +8.7 pts vs ACWI |
| 3 years | +316.0% | +93.2% | +227.1 pts vs ACWI | +4.3 pts vs ACWI |
| Since launchNot the same days: SMH Dec 2011 · XT Mar 2015 | +4,348.4% | +297.8% | +3,938.6 pts vs ACWI | +71.7 pts vs ACWI |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
18% of the two portfolios are the same securities at the same weight.
SMH and XT are built for the same job. How do they differ in cost, holdings and results?
- Theme. SMH covers Semiconductors and XT covers Broad innovation and megatrends.
- Concentration. The top ten holdings are 69.0% of SMH and 36.6% of XT, a gap of 32.4 points.
- What each follows. SMH follows Semiconductors and XT follows Broad innovation and megatrends.
Data as of Oct 28, 2026.
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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.
XT
By weight, 66% of XT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 69%. The top ten holdings are 37% of the fund across 197 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +22.1% with distributions reinvested against +13.4% for its benchmark, the MSCI All Country World Index, so a holder was ahead by 8.7 pts.
Questions people ask
- Do SMH and XT hold the same stocks?
- By their latest filings, 18% 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, SMH against XT, data as of Oct 28, 2026. https://etfiq.com/compare/themes/smh-vs-xt
ETFIQ. (Oct 28, 2026). SMH against XT. Retrieved from https://etfiq.com/compare/themes/smh-vs-xt
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