SMHX surges 58.48% year-to-date by excluding TSMC and focusing on AI chip designers like NVIDIA and AMD.
The VanEck Fabless Semiconductor ETF (NASDAQ:SMHX) has climbed 58.48% year-to-date through July 6, 2026, driven by holdings in AI chip designers such as NVIDIA and AMD. The fund excludes TSMC, the $2.3 trillion foundry, by design, despite TSMC’s 49% gain this year.
SMHX, launched in August 2024, targets fabless semiconductor firms—companies that design chips but outsource manufacturing. The ETF closed at $60.27 on July 6 before dipping to $58.48 in the latest session, a 2.97% single-day decline. Over the past week, it has fallen 2.48%, though it remains up 1.23% over the trailing month.
The fund’s performance highlights investor appetite for AI-driven semiconductor growth, even as broader market volatility persists.