SMH vs SOXX: Which ETF Is Better in 2026?
Short answer
SMH (VanEck Semiconductor ETF) tracks MVIS US Listed Semiconductor 25 at 0.35%; SOXX (iShares Semiconductor ETF) tracks ICE Semiconductor at 0.35%. They give you different exposure, so pick by what you want to own: SMH for MVIS US Listed Semiconductor 25, SOXX for ICE Semiconductor. Neither is universally better.
SMH vs SOXX at a glance
| SMH | SOXX | |
|---|---|---|
| Fund | VanEck Semiconductor ETF | iShares Semiconductor ETF |
| Tracks | MVIS US Listed Semiconductor 25 | ICE Semiconductor |
| Expense ratio | 0.35% | 0.35% |
| Dividend yield | ~0.4% | ~0.6% |
| AUM | ~$28 billion | ~$14 billion |
| Top holding | NVDA | NVDA |
| Issuer | VanEck | iShares (BlackRock) |
Approximate as of early 2026; verify with each issuer.
What is SMH?
Tracks the MVIS US Listed Semiconductor 25 Index, with much higher concentration in the top names than the broader SOXX. NVIDIA and TSMC alone routinely account for 25-30% of the fund. Aggressive AI-infrastructure exposure for investors comfortable with concentration.
What is SOXX?
Tracks the ICE Semiconductor Index, which caps individual weights more aggressively than the MVIS index SMH tracks. Less top-heavy than SMH; better diversified across the semiconductor stack at the cost of slightly lower exposure to the very largest names.
SMH or SOXX: which should you pick?
- Pick SMH if you want MVIS US Listed Semiconductor 25 exposure at 0.35%.
- Pick SOXX if you want ICE Semiconductor exposure at 0.35%.
- Overlap: they share top holdings (NVDA, AVGO, AMD, QCOM, TXN), so owning both adds less diversification than it appears.
- Cost: 0.35% vs 0.35%, a small but compounding difference.
The bottom line: SMH vs SOXX
SMH (MVIS US Listed Semiconductor 25) and SOXX (ICE Semiconductor) give you different exposure, so pick by what you want to own, not by which is "better". They overlap heavily, so owning both mostly doubles a fee. Walnut can show the overlap against your real portfolio before you decide.
Build a portfolio around SMH with Walnut
Walnut connects your real brokerage so you can see how SMH and SOXX overlap with what you already own, analyze either by chatting through Claude or ChatGPT, and place any trade yourself.
FAQ
What is the difference between SMH and SOXX?
+
SMH tracks MVIS US Listed Semiconductor 25 (0.35% expense ratio); SOXX tracks ICE Semiconductor (0.35%). They track different indexes, so they give you different exposure.
Is SMH or SOXX cheaper?
+
SMH charges 0.35% and SOXX charges 0.35% as of early 2026. Over decades the cheaper fund keeps more of your return, but verify current figures with each issuer.
Do SMH and SOXX hold the same stocks?
+
They overlap meaningfully: shared top holdings include NVDA, AVGO, AMD, QCOM, TXN, AMAT. Owning both can mean less diversification than it looks.
Which has a higher dividend yield, SMH or SOXX?
+
SMH yields about ~0.4% and SOXX about ~0.6% (early 2026, approximate). If income matters, that gap is one input, but total return and cost matter more for most long-term investors.
Should you own both SMH and SOXX?
+
Often not, because they overlap heavily (NVDA, AVGO, AMD, QCOM and more), so holding both adds cost without much extra diversification. Walnut can show the overlap against your real portfolio.
Walnut is informational, not investment advice. ETF figures are approximations stamped to early 2026; verify current data with each issuer before deciding. Nothing here is a recommendation.