SMHX - ETF AI Analysis

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VanEck Fabless Semiconductor ETF (SMHX)

Rating:73Outperform

Price Target:―

SMHX, the VanEck Fabless Semiconductor ETF, earns a solid overall rating thanks to heavy exposure to leaders like Nvidia and Broadcom, which benefit from strong financial performance and powerful growth trends in AI and data centers. Other key holdings such as Qualcomm, Cadence Design, and Rambus further support the rating with positive earnings and strategic positions in critical chip and design markets. The main risk is that many of these stocks trade at high valuations and are concentrated in the semiconductor and AI space, which could lead to larger price swings if growth expectations are not met.

Positive Factors

Strong Recent Performance

The ETF has shown strong gains over the year to date and in recent months, indicating solid momentum in its underlying holdings.

Leading Semiconductor Holdings

Many of the top positions, including several well-known chip designers, have delivered strong year-to-date performance, helping drive the fund’s returns.

Focused Exposure to a High-Growth Niche

By concentrating on fabless semiconductor companies, the ETF targets a specialized area of technology that has been experiencing strong growth.

Negative Factors

High Stock Concentration

A large portion of the fund is invested in just a few companies, which increases the impact that any one stock’s weakness can have on the ETF.

Very Limited Sector Diversification

Almost all assets are in the technology sector, so the fund is highly sensitive to downturns in semiconductor and tech-related markets.

Heavy U.S. Market Exposure

With nearly all holdings in U.S.-listed companies, the ETF offers little geographic diversification and is closely tied to the U.S. market’s performance.

SMHX vs. SPDR S&P 500 ETF (SPY)

AUM206.34M

RegionNorth America

Expense Ratio0.35%

Beta1.97

IssuerVanEck

Inception DateAug 27, 2024

Dividend Yield0.02%

Asset ClassEquity

Index TrackedMarketVector US Listed Fabless Semiconductor Index

Share Statistics

EPS (TTM)N/A

Shares OutstandingN/A

10 Day Avg. Volume84,773

30 Day Avg. Volume83,665

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

P/FCF RatioN/A

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

55.33

Price Target Upside― Downside

Rating ConsensusStrong Buy

Number of Analyst Covering22

EPS Forecast (FY)N/A

Revenue Forecast (FY)N/A

SMHX Summary

SMHX is the VanEck Fabless Semiconductor ETF, which follows the MarketVector US Listed Fabless Semiconductor Index. It focuses on chip designers that create semiconductor technology but outsource the actual manufacturing. The fund holds well-known companies like Nvidia and Broadcom, which supply key chips used in AI, smartphones, data centers, and more. Someone might invest in SMHX to seek growth from rising demand for advanced chips while spreading that bet across many companies. A key risk is that it is heavily concentrated in the semiconductor and tech sector, so its price can swing sharply with that industry.

How much will it cost me?The VanEck Fabless Semiconductor ETF (SMHX) has an expense ratio of 0.35%, which means you’ll pay $3.50 per year for every $1,000 invested. This is slightly higher than average because it is a sector-focused ETF, which often requires more specialized management compared to broad-market index funds. However, it provides targeted exposure to the innovative fabless semiconductor industry.

What would affect this ETF?The VanEck Fabless Semiconductor ETF (SMHX) could benefit from growing demand for advanced technologies like AI, 5G, and IoT, which rely heavily on innovative semiconductor designs. However, it may face challenges from rising interest rates, which can impact growth-focused companies, and potential geopolitical tensions or regulatory changes affecting the U.S. technology sector. With top holdings like Nvidia and Broadcom, the ETF is well-positioned to capitalize on industry innovation but remains sensitive to broader economic and trade conditions.

SMHX Top 10 Holdings

SMHX is a pure play on U.S.-listed fabless chip designers, with performance heavily steered by a few AI powerhouses. Nvidia and Broadcom sit in the driver’s seat, both rising on the back of red-hot demand for AI and data center chips. Marvell, AMD, and ARM add more AI fuel, with Marvell in particular sprinting ahead recently. Newer name Astera Labs is also climbing but brings a bit more volatility to the mix. Synopsys, by contrast, has been more mixed, occasionally tapping the brakes on an otherwise fast-moving semiconductor story.

Name	Company Name	Weight %	Market Value	Market Cap	Yearly Gain	Overall Rating
NVDA	Nvidia	16.54%	$34.13M	$5.06T	87.61%	76 Outperform
AVGO	Broadcom	13.71%	$28.30M	$2.00T	119.83%	76 Outperform
ARM	ARM Holdings PLC ADR	6.50%	$13.41M	$249.37B	107.17%	69 Neutral
AMD	Advanced Micro Devices	6.27%	$12.94M	$567.05B	259.88%	73 Outperform
MRVL	Marvell	6.04%	$12.46M	$143.68B	178.87%	76 Outperform
ALAB	Astera Labs, Inc.	5.67%	$11.71M	$36.23B	221.95%	68 Neutral
RMBS	Rambus	5.34%	$11.03M	$17.13B	210.95%	78 Outperform
MPWR	Monolithic Power	5.07%	$10.45M	$80.16B	179.60%	75 Outperform
SNPS	Synopsys	4.27%	$8.81M	$95.94B	12.14%	73 Outperform
QCOM	Qualcomm	4.10%	$8.46M	$158.82B	0.20%	80 Outperform

SMHX Technical Analysis

Technical Analysis Sentiment

Positive

Last Price―

Price Trends

50DMA

40.32

Positive

100DMA

39.71

Positive

200DMA

38.29

Positive

Market Momentum

MACD

3.16

Negative

RSI

79.00

Negative

STOCH

92.03

Negative

Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For SMHX, the sentiment is Positive. The current price of undefined is equal to the 20-day moving average (MA) of 43.40, equal to the 50-day MA of 40.32, and equal to the 200-day MA of 38.29, indicating a bullish trend. The MACD of 3.16 indicates Negative momentum. The RSI at 79.00 is Negative, neither overbought nor oversold. The STOCH value of 92.03 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SMHX.

SMHX Peer Comparison

Comparison Results

Name	Price	Price Target	AUM	Expense Ratio	Overall Rating
SMHX	―	―	$206.34M	0.35%	73 Outperform
IETC	―	―	$772.21M	0.18%	74 Outperform
QQH	―	―	$678.21M	0.98%	61 Neutral
GTOP	―	―	$653.25M	0.65%	72 Outperform
CHPY	―	―	$578.44M	1.03%	74 Outperform
SHOC	―	―	$201.36M	0.40%	75 Outperform

Performance Comparison

SMHX

VanEck Fabless Semiconductor ETF

50.74

27.16

115.18%

IETC

iShares Evolved US Technology ETF

―

QQH

HCM Defender 100 Index ETF

―

GTOP

Goldman Sachs Technology Opportunities ETF

―

CHPY

YieldMax Semiconductor Portfolio Option Income ETF

―

SHOC

Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF

―

Glossary

BuyAn ETF rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF is likely to deliver higher returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldAn ETF rated as a "Hold" s expected to perform in line with the overall market or a specific benchmark. This rating indicates that the ETF is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellAn ETF rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF may deliver lower returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

DisclaimerThis AI Analyst ETF Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in ETFs carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: ―

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