SMH vs XLK ETF holdings comparison
VanEck Semiconductor ETF (SMH) · Technology Select Sector SPDR ETF (XLK)
SMH and XLK overlap by 45% by portfolio weight. The remaining 55.0 percentage points are not counted as shared holdings weight by this calculation. They share 20 stocks; the largest shared position is NVIDIA Corp (NVDA), contributing 14.22% to the overlap.
The holdings dates differ. This can slightly understate overlap for funds tracking similar indexes.
What this means
SMH and XLK share a material portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "moderate 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 XLK |
|---|---|---|---|
| NVIDIA Corp | NVDA | 17.55% | 14.22% |
| Broadcom Inc | AVGO | 5.28% | 4.66% |
| Advanced Micro Devices Inc | AMD | 5.63% | 4.10% |
| Micron Technology Inc | MU | 5.67% | 3.99% |
| Intel Corp | INTC | 5.15% | 2.91% |
| Lam Research Corp | LRCX | 5.31% | 2.65% |
| Applied Materials Inc | AMAT | 5.74% | 2.56% |
| KLA Corp | KLAC | 5.57% | 1.61% |
| Texas Instruments Inc | TXN | 4.17% | 1.59% |
| Marvell Technology Inc | MRVL | 4.66% | 1.42% |
Holdings only in SMH or XLK
SMH has 5 fund-only positions representing approximately 18.0 percentage points of reported exposure; XLK has 53 fund-only positions representing approximately 55.0 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% |
| ASML Holding NV | ASML | 5.04% |
| Astera Labs Inc | ALAB | 1.27% |
| STMicroelectronics NV | STM | 1.26% |
| ARM Holdings PLC | ARM | 1.17% |
Largest positions only in XLK
| Company | Ticker | Weight |
|---|---|---|
| Apple Inc | AAPL | 12.54% |
| Microsoft Corp | MSFT | 10.07% |
| Cisco Systems Inc | CSCO | 2.95% |
| Palantir Technologies Inc A | PLTR | 2.67% |
| Palo Alto Networks Inc | PANW | 1.85% |
| Oracle Corp | ORCL | 1.65% |
| Intl Business Machines Corp | IBM | 1.48% |
| Sandisk Corp | SNDK | 1.48% |
| Arista Networks Inc | ANET | 1.33% |
| Amphenol Corp Cl A | APH | 1.31% |
FAQ
How much do SMH and XLK overlap?
SMH and XLK have 45% overlap by weight, sharing 20 equity positions (out of 25 in SMH and 73 in XLK). The official holdings files used are dated 2026-06-30 for SMH and 2026-08-25 for XLK.
What does 45% overlap mean?
SMH and XLK share a material portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "moderate 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 XLK both hold?
The largest shared positions are NVIDIA Corp, Broadcom Inc, Advanced Micro Devices Inc, Micron Technology Inc, Intel Corp. The top shared holdings with weights in each fund are shown on this page.
What holdings are different between SMH and XLK?
SMH has 5 positions not found in XLK, while XLK has 53 positions not found in SMH. The largest fund-only positions and their weights are shown on this page.