SMH vs SOXX Overlap
SMH is a semiconductor-focused equity ETF from VanEck, while SOXX is a semiconductor-focused equity ETF from IShares. SMH and SOXX show heavy overlap, with an estimated weighted overlap of 68.47%. They share 20 holdings in the loaded dataset, led by NVDA, MU, and AVGO.
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Quick Answer
SMH is a semiconductor-focused equity ETF from VanEck, while SOXX is a semiconductor-focused equity ETF from IShares. SMH and SOXX show heavy overlap, with an estimated weighted overlap of 68.47%. They share 20 holdings in the loaded dataset, led by NVDA, MU, and AVGO.
- 68.47% weighted overlap across 20 shared holdings.
- The top three shared holdings explain 28.72% of the measured overlap.
- SMH and SOXX are closer in breadth than a broad-vs-niche ETF pair.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both may add less diversification than the fund names imply.
Data Freshness
- SMH holdings
- Mar 12, 2026
- SOXX holdings
- Mar 12, 2026
- Overlap computed
- Mar 15, 2026
- Data source
- Financial Modeling Prep
Review the methodology for the overlap formula and refresh policy.
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About These ETFs
What Stands Out In This Comparison
What This Means
SMH is a semiconductor-focused equity ETF from VanEck, while SOXX is a semiconductor-focused equity ETF from IShares. SMH and SOXX share a large chunk of the same portfolio weight. The overlap is driven by positions like NVDA, MU, and AVGO, so owning both may not diversify your stock exposure as much as the fund names suggest.
How They Differ
SMH is a semiconductor-focused equity ETF from VanEck, while SOXX is a semiconductor-focused equity ETF from IShares. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. SMH and SOXX are priced very similarly on expense ratio.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 28.72% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
When One May Fit Better
Because SMH and SOXX are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. SMH and SOXX are priced very similarly on expense ratio.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 28.72% of the full overlap score.
That helps show whether the score comes from a handful of giant shared positions or from a broader mix of common holdings.
Shared Sector Tilt
Sector tags are not consistently available for the biggest shared positions in this dataset, so this comparison leans more on the specific holdings than on sector labels.
Top Shared Holdings
These are the holdings contributing the most to the overlap score between SMH and SOXX.
| Holding | Name | SMH Wt. | SOXX Wt. | Overlap |
|---|---|---|---|---|
| NVDA | Nvidia Corp | 18.90% | 7.28% | 7.28% |
| MU | Micron Technology Inc | 6.47% | 8.75% | 6.47% |
| AVGO | Broadcom Inc | 7.56% | 5.92% | 5.92% |
| AMAT | Applied Materials Inc | 5.32% | 7.04% | 5.32% |
| LRCX | Lam Research Corp | 5.41% | 4.81% | 4.81% |
| AMD | Advanced Micro Devices Inc | 4.31% | 6.51% | 4.31% |
| KLAC | Kla Corp | 4.96% | 4.31% | 4.31% |
| ASML | Asml Holding Nv | 5.81% | 4.28% | 4.28% |
| ADI | Analog Devices Inc | 4.55% | 4.19% | 4.19% |
| TXN | Texas Instruments Inc | 4.60% | 4.09% | 4.09% |
Why These ETFs Overlap
SMH is a semiconductor-focused equity ETF from VanEck, while SOXX is a semiconductor-focused equity ETF from IShares. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are NVDA, MU, and AVGO, which appear in both portfolios and push the overlap score higher.
Holding both SMH and SOXX may add less diversification than you expect. Many investors would choose the ETF that best matches their goal and avoid paying for duplicate exposure.
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Frequently Asked Questions About SMH and SOXX
What is the overlap between SMH and SOXX?+
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How Overlap Is Calculated
A straightforward approach used by portfolio analysts.
For every stock that appears in both ETFs, we take the smaller of the two weights. Adding up all those minimums gives the total overlap percentage. A score of 100% means the two ETFs hold the exact same stocks in the same proportions.
Want the full explanation? Read the methodology page.