SMH vs XLK: Complete Comparison
VanEck Semiconductor ETF vs Technology Select Sector SPDR Fund โ overlap, correlation, performance & risk analysis
Visual Overlap
Price Performance
Historical price comparison over 3M
๐Performance Comparison
โ ๏ธRisk Metrics
Interpretation:
- ๐ Lower volatility = smoother ride
- โก Higher Sharpe/Sortino = better risk-adjusted returns
- โ ๏ธ Smaller max drawdown = less worst-case pain
- ๐ Beta > 1 = more volatile than S&P 500
โ๏ธHead-to-Head Comparison
๐ XLK wins this comparison
Key Factors
โถAdditional Metrics (5)
Bottom line: XLK wins with better expense ratio and number of holdings. Consider XLK for your portfolio, but SMH is still a solid choice if you prefer its specific advantages.
Detailed Overlap Analysis
19 shared holdings representing 39.6% portfolio overlap
Top Shared Holdings
| # | Stock | SMH Weight | XLK Weight | Overlap |
|---|---|---|---|---|
| 1 | NVDA NVDA | 16.92% | 14.84% | 14.84% |
| 2 | AVGO AVGO | 8.91% | 5.36% | 5.36% |
| 3 | AMD AMD | 5.63% | 2.96% | 2.96% |
| 4 | MU MU | 6.58% | 2.72% | 2.72% |
| 5 | LRCX LRCX | 5.64% | 1.88% | 1.88% |
| 6 | AMAT AMAT | 5.97% | 1.76% | 1.76% |
| 7 | QCOM QCOM | 4.04% | 1.58% | 1.58% |
| 8 | KLAC KLAC | 4.75% | 1.42% | 1.42% |
| 9 | INTC INTC | 5.63% | 1.37% | 1.37% |
| 10 | TXN TXN | 3.56% | 1.36% | 1.36% |
Overlap by Sector
Showing top 5 sectors by overlap contribution
Top Holdings Only in SMH
Unique to SMH
| Symbol | Name | Weight |
|---|---|---|
| TSM | TSM | 9.45% |
| ASML | ASML | 5.68% |
| MRVL | MRVL | 1.97% |
| STM | STM | 0.62% |
| QRVO | QRVO | 0.19% |
Top Holdings Only in XLK
Unique to XLK
| Symbol | Name | Weight |
|---|---|---|
| AAPL | AAPL | 13.10% |
| MSFT | MSFT | 11.75% |
| PLTR | PLTR | 3.75% |
| ORCL | ORCL | 2.81% |
| CSCO | CSCO | 2.60% |
Price Correlation
How We Calculate Overlap
We use the minimum weight method with normalization to calculate portfolio overlap:
Overlap = ฮฃ min(weightA, weightB) for each shared holdingNormalization: Holdings weights are normalized to sum to 100% before comparison. This ensures accurate overlap calculations even when analyzing partial holdings data (e.g., top 50 positions).
Conservative approach: We consider only the smaller allocation for each shared position, giving you a realistic view of true portfolio overlap.
๐ This analysis is based on publicly available holdings data. For the most current and complete holdings information, please visit the official ETF provider websites.
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