History Says This Chip ETF Keeps Beating the S&P 500. It Has Trailed the Index Only Twice Since 2016.

Key Points The VanEck Semiconductor ETF beat the S&P 500 on total return in eight of the 10 calendar years from 2016 through 2025. In 2018 and 2022, the fund's only losing years of that stretch, it fell about twice as far as the index. Nvidia by itself accounted for about 23% of the fund's assets as of Sept. 16, and the five largest holdings made up about half. 10 stocks we like better than VanEck ETF Trust - VanEck Semiconductor ETF › The VanEck Semiconductor ETF (NASDAQ:SMH) is having another big year. As of this writing, the chip-focused fund has generated a total return of about 59% in 2026. The S&P 500 (SNPINDEX:^GSPC) , with dividends included, has gained about 12%. And a difference like that is nothing new.