
The VanEck Fabless Semiconductor ETF aims to mirror, with the highest possible accuracy and before accounting for any fees or expenses, the overall investment returns—both capital gains and income—of the MarketVector US Listed Fabless Semiconductor Index. This Index is specifically designed to measure the aggregate performance of companies primarily engaged in the semiconductor production sector that operate using a "fabless" business model.
Is SMHX's expense ratio expensive, average, or a steal for its category?
Pro reveals the verdict on a 5-tier spectrum calibrated against ICI 2025 industry averages, with strategy-aware bands so the comparison is meaningful.

NVIDIA's $12.9B Hugging Face deal strengthens its open-source AI push, creating potential opportunities for NVIDIA-heavy ETFs.

VanEck Fabless Semiconductor ETF is rated a Buy, driven by top holdings' complementary positions across AI infrastructure, supporting robust revenue and free cash flow growth. SMHX's concentrated portfolio—over 45% in NVDA, AVGO, and AMD—benefits from diversification within AI, enabling participation in multiple growth vectors rather than a single application. Despite high valuations and low current yield, SMHX's capital appreciation and anticipated dividend growth from strong cash flows outweigh expense and yield concerns.
If you're interested in broad exposure to the Technology - Semiconductors segment of the equity market, look no further than the VanEck Fabless Semiconductor ETF (SMHX), a passively managed exchange traded fund launched on August 27, 2024.

Heading into Q2 fiscal 2027 earnings, the capital markets wondered if the vaunted chipmaking giant Nvidia still has its mojo. Despite rallying to atmospheric levels over the past three years, this massive upside is already baked into its stock price.

Institutional investors are becoming more selective on AI and tech. Here are the stocks and ETFs that could help investors follow the smart money.