SMH vs VT Overlap
SMH is a semiconductor-focused equity ETF from VanEck, while VT is an equity ETF from Vanguard. SMH and VT show limited overlap, with an estimated weighted overlap of 8.09%. They share 23 holdings in the loaded dataset, led by NVDA, AVGO, and MU.
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Quick Answer
SMH is a semiconductor-focused equity ETF from VanEck, while VT is an equity ETF from Vanguard. SMH and VT show limited overlap, with an estimated weighted overlap of 8.09%. They share 23 holdings in the loaded dataset, led by NVDA, AVGO, and MU.
- 8.09% weighted overlap across 23 shared holdings.
- The top three shared holdings explain 73.65% of the measured overlap.
- VT is the broader fund, while SMH is more targeted.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both can still add materially different exposure.
Data Freshness
- SMH holdings
- Mar 12, 2026
- VT 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 VT is an equity ETF from Vanguard. SMH and VT do not own much of the same portfolio weight. That usually means you are combining different parts of the market, with only a small amount of duplication through names like NVDA, AVGO, and MU.
How They Differ
SMH is a semiconductor-focused equity ETF from VanEck, while VT is an equity ETF from Vanguard. VT is the broader fund, while SMH is the more targeted sleeve. VT has the lower expense ratio, while SMH charges more for its exposure.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 73.65% 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
If you want the broader portfolio building block, VT is usually the wider choice. If you want the more focused tilt, SMH is the narrower expression. VT has the lower expense ratio, while SMH charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 73.65% 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 VT.
| Holding | Name | SMH Wt. | VT Wt. | Overlap |
|---|---|---|---|---|
| NVDA | Nvidia Corp | 18.90% | 4.12% | 4.12% |
| AVGO | Broadcom Inc | 7.56% | 1.41% | 1.41% |
| MU | Micron Technology Inc | 6.47% | 0.43% | 0.43% |
| AMD | Advanced Micro Devices Inc | 4.31% | 0.35% | 0.35% |
| LRCX | Lam Research Corp | 5.41% | 0.27% | 0.27% |
| AMAT | Applied Materials Inc | 5.32% | 0.24% | 0.24% |
| INTC | Intel Corp | 4.85% | 0.19% | 0.19% |
| TXN | Texas Instruments Inc | 4.60% | 0.18% | 0.18% |
| KLAC | Kla Corp | 4.96% | 0.17% | 0.17% |
| QCOM | Qualcomm Inc | 3.14% | 0.15% | 0.15% |
Why These ETFs Overlap
SMH is a semiconductor-focused equity ETF from VanEck, while VT is an equity ETF from Vanguard. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are NVDA, AVGO, and MU, which appear in both portfolios and push the overlap score higher.
Holding both SMH and VT can make sense if you want exposure to different sleeves of the market. The overlap is small enough that both funds may still improve diversification.
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Frequently Asked Questions About SMH and VT
What is the overlap between SMH and VT?+
How many holdings do SMH and VT share?+
Is the SMH and VT overlap high?+
Why do SMH and VT overlap?+
Which ETF is broader, SMH or VT?+
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.