PSI’s 102% gain this year stems from chip designers and equipment firms, excluding TSMC despite its $2.34 trillion market cap.
The Invesco Semiconductors ETF (PSI) has climbed 102.37% year-to-date through July 6, 2026, fueled by holdings in chip designers like AMD and MaxLinear rather than manufacturers. The fund’s US-focused index excludes Taiwan Semiconductor (TSM), which has a $2.34 trillion market cap and a 49% gain in 2026.
PSI’s $1.995 billion in net assets, as of April 30, 2026, are spread across 33 positions, including memory, analog, and equipment firms. Nvidia, a key AI driver, holds just a 3.91% weight, diversifying exposure beyond mega-cap stocks.
The fund’s performance aligns with the AI infrastructure buildout, though its exclusion of TSMC contrasts with broader semiconductor sector trends.