SMH vs VUG ETF holdings comparison
VanEck Semiconductor ETF (SMH) · Vanguard Growth ETF (VUG)
SMH and VUG overlap by 22.4% by portfolio weight. The remaining 77.6 percentage points are not counted as shared holdings weight by this calculation. They share 12 stocks; the largest shared position is NVIDIA Corp (NVDA), contributing 13.31% to the overlap.
The holdings dates differ. This can slightly understate overlap for funds tracking similar indexes.
What this means
SMH and VUG share a smaller portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "low holdings overlap" using house ranges of 70% or more, 30% to under 70%, and under 30%. These descriptive ranges are not industry standards or investment guidance. Holdings overlap does not measure correlation, volatility, geographic or factor exposure, fees, or suitability.
Overlap by weight sums the smaller of the two funds' weights for every stock they both hold. It answers "how much of my money is in the same stocks either way?" See methodology.
This comparison covers normalized equity positions represented in the dataset. Cash, derivatives, options, structured notes, and other non-equity assets are not included, so the result is not a complete comparison of every asset or risk in either fund.
Top shared holdings
| Company | Ticker | in SMH | in VUG |
|---|---|---|---|
| NVIDIA Corp | NVDA | 17.55% | 13.31% |
| Broadcom Inc | AVGO | 5.28% | 4.40% |
| Advanced Micro Devices Inc | AMD | 5.63% | 1.11% |
| Lam Research Corp | LRCX | 5.31% | 0.90% |
| KLA Corp | KLAC | 5.57% | 0.66% |
| Applied Materials Inc | AMAT | 5.74% | 0.47% |
| Texas Instruments Inc | TXN | 4.17% | 0.31% |
| Marvell Technology Inc | MRVL | 4.66% | 0.30% |
| Cadence Design Systems Inc | CDNS | 2.15% | 0.27% |
| Synopsys Inc | SNPS | 1.79% | 0.27% |
Holdings only in SMH or VUG
SMH has 13 fund-only positions representing approximately 39.4 percentage points of reported exposure; VUG has 140 fund-only positions representing approximately 77.5 percentage points of reported exposure. These are positions whose normalized security identifiers appear in one issuer file but not the other.
Largest positions only in SMH
| Company | Ticker | Weight |
|---|---|---|
| Taiwan Semiconductor Manufacturing Co Ltd | TSM | 9.29% |
| Micron Technology Inc | MU | 5.67% |
| Intel Corp | INTC | 5.15% |
| ASML Holding NV | ASML | 5.04% |
| Analog Devices Inc | ADI | 4.00% |
| QUALCOMM Inc | QCOM | 3.74% |
| Astera Labs Inc | ALAB | 1.27% |
| STMicroelectronics NV | STM | 1.26% |
| ARM Holdings PLC | ARM | 1.17% |
| NXP Semiconductors NV | NXPI | 1.15% |
Largest positions only in VUG
| Company | Ticker | Weight |
|---|---|---|
| Apple Inc | AAPL | 12.32% |
| Microsoft Corp | MSFT | 9.09% |
| Alphabet Inc | GOOGL | 5.54% |
| Amazon.com Inc | AMZN | 4.59% |
| Alphabet Inc | GOOG | 4.39% |
| Meta Platforms Inc | META | 4.15% |
| Tesla Inc | TSLA | 3.47% |
| Eli Lilly & Co | LLY | 2.60% |
| Visa Inc | V | 1.65% |
| Costco Wholesale Corp | COST | 1.48% |
FAQ
How much do SMH and VUG overlap?
SMH and VUG have 22.4% overlap by weight, sharing 12 equity positions (out of 25 in SMH and 152 in VUG). The official holdings files used are dated 2026-06-30 for SMH and 2026-03-31 for VUG.
What does 22.4% overlap mean?
SMH and VUG share a smaller portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "low holdings overlap" using house ranges of 70% or more, 30% to under 70%, and under 30%. These descriptive ranges are not industry standards or investment guidance. Holdings overlap does not measure correlation, volatility, geographic or factor exposure, fees, or suitability.
Which stocks do SMH and VUG both hold?
The largest shared positions are NVIDIA Corp, Broadcom Inc, Advanced Micro Devices Inc, Lam Research Corp, KLA Corp. The top shared holdings with weights in each fund are shown on this page.
What holdings are different between SMH and VUG?
SMH has 13 positions not found in VUG, while VUG has 140 positions not found in SMH. The largest fund-only positions and their weights are shown on this page.