SMH vs XLK: Holdings Overlap
VanEck · 25 holdings · $71.5B · as of 2026-03-31
XLKState Street® Technology Select Sector SPDR® ETF
State Street (SPDR) · 73 holdings · $122.8B · as of 2026-08-06
Holdings snapshots are 128 days apart (SMH: 2026-03-31, XLK: 2026-08-06). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are SMH and XLK?
VanEck Semiconductor ETF (SMH, by VanEck) holds 25 positions; State Street® Technology Select Sector SPDR® ETF (XLK, by State Street (SPDR)) holds 73. They have 20 holdings in common, and by portfolio weight the two funds are 45.7% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 45.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 20SMH holds 25 · XLK holds 73
- Weight in Shared Holdings
- SMH 81%·XLK 46%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in SMH
5 of 25 positions (18.9% of the fund) are not held by XLK.
Sector Breakdown
| Sector | SMH | XLK |
|---|---|---|
| Information Technology | 99.9% | 99.9% |
| Other Sectors | 0.0% | 0.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| SMH | +0.2% | +61.8% | +100.8% | +55.9% | +34.9% | +34.9% | 0.19% |
| XLK | +4.9% | +30.9% | +43.5% | +30.7% | +20.3% | +24.4% | 0.42% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in SMH vs XLK →
Shared Holdings(20)
The top 10 shared positions account for 89% of the overlap, led by NVDA, AVGO and AMD.
 NVDANVIDIA Corp. COM | 19.64% | 14.35% | 14.35% |
|---|---|---|---|
 AVGOBroadcom Inc COM | 7.79% | 5.39% | 5.39% |
 AMDAdvanced Micro Devices Inc. COM | 4.68% | 4.11% | 4.11% |
 MUMicron Technology Inc. COM | 4.23% | 3.70% | 3.70% |
 INTCIntel Corporation COM | 4.34% | 3.11% | 3.11% |
 AMATApplied Materials Inc. COM | 4.59% | 2.77% | 2.77% |
 LRCXLam Research Corporation COM NEW | 4.60% | 2.53% | 2.53% |
 TXNTexas Instruments Inc. COM | 4.61% | 1.67% | 1.67% |
 KLACKLA Corp. COM NEW | 4.74% | 1.67% | 1.67% |
 MRVLMarvell Technology Inc COM | 2.35% | 1.22% | 1.22% |
 ADIAnalog Devices Inc. COM | 4.70% | 1.22% | 1.22% |
 QCOMQUALCOMM Inc. COM | 4.09% | 1.12% | 1.12% |
 CDNSCadence Design Systems, Inc. COM | 2.43% | 0.62% | 0.62% |
 SNPSSynopsys Inc COM | 2.50% | 0.51% | 0.51% |
 MPWRMonolithic Power Systems Inc. COM | 1.23% | 0.44% | 0.44% |
 TERTeradyne Inc. COM | 1.41% | 0.40% | 0.40% |
 NXPINXP Semiconductors NV EUR0.20 | 1.24% | 0.39% | 0.39% |
 MCHPMicrochip Technology Incorporated COM | 1.00% | 0.27% | 0.27% |
 ONON Semiconductor Corp. COM | 0.60% | 0.20% | 0.20% |
 SWKSSkyworks Solutions, Inc. COM | 0.21% | 0.07% | 0.07% |
Frequently Asked Questions
How much do SMH and XLK overlap?
SMH and XLK overlap by 45.7% of portfolio weight. They share 20 holdings (SMH holds 25 positions and XLK holds 73), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SMH and XLK?
The two portfolios are 45.7% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of SMH and XLK?
The largest positions held by both funds are NVDA, AVGO, AMD, MU and INTC. Together the top 10 shared positions account for 89% of the total overlap.
What does SMH own that XLK doesn't?
5 positions (18.9% of SMH) are unique to SMH, led by TSM, ASML and STM. In the other direction, 53 positions (54.2% of XLK) are unique to XLK.