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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.
AI chip stocks hit a sharp correction, but strong earnings and AI demand suggest the pullback may be a dip-buying opportunity for semiconductor ETFs.
The VanEck Fabless Semiconductor ETF (NASDAQ:SMHX) has ripped higher in 2026, gaining 58.48% year to date through July 6, and it does not own a single share of the world's largest chipmaker.
A semiconductor ETF has ripped higher in 2026 without owning one of the most recognizable chip names on the market.
The VanEck Fabless Semiconductor ETF (SMHX) was launched on August 27, 2024, and is a passively managed exchange traded fund designed to offer broad exposure to the Technology - Semiconductors segment of the equity market.
VanEck Fabless Semiconductor ETF (SMHX) offers concentrated exposure to capital-light semiconductor developers positioned for multi-tiered growth cycles. SMHX benefits from surging data center investment, AI-driven chip demand, and cyclical upswing in analog and microcontroller segments. Purpose-built chips and analog sector M&A activity provide additional growth catalysts, with SMHX poised for market-beating returns.
The top-performing non-leveraged ETFs of 2026 span a distinct blend of digital assets, next-generation semiconductor technology, and localized international equity plays. For advisors assessing portfolio allocations heading into the second half of the year, these performance figures highlight a sustained risk-on appetite among investors.
SEC filings for SMHX aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.