SMH — VanEck Semiconductor
Semiconductors / AI chips · The picks-and-shovels of the AI build-out.
The biggest, most concentrated chip ETF. This is the “ride Nvidia” bet. Semiconductors are the picks-and-shovels of the AI build-out: an infrastructure-level AI bet rather than a pure software one.
Key facts
| Ticker | SMH |
| Fund | VanEck Semiconductor |
| Issuer | VanEck |
| Theme | Semiconductors / AI chips |
| Expense ratio | 0.35% |
| AUM | ~$68.7B |
| Holdings | 25 |
| What's inside | Nvidia-heavy, most concentrated |
AUM and expense ratio are point-in-time (curated June 2026) and move with the fund — the issuer's own page is the source of record.
What's inside & AI relevance
Top exposure: Nvidia-heavy, most concentrated. Semiconductors are the picks-and-shovels of the AI build-out: an infrastructure-level AI bet rather than a pure software one.
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