VanEck
SMH.L
IE00BMC38736
VanEck Semiconductor UCITS ETF
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About this ETF

The VanEck Semiconductor UCITS ETF seeks to track the MarketVector US Listed Semiconductor 10% Capped Screened index. The MarketVector US Listed Semiconductor 10% Capped Screened index tracks companies from around the world that are listed in the US and active in the semiconductor industry. The stocks included are filtered according to ESG criteria (environmental, social and corporate governance). The maximum weight of a single company in the index is limited to 10%.

TER
0.35%

Total Expense Ratio per year

Fund Size
€8.85B

Assets under management

Holdings
25

Underlying equities

Dividend Yield
0%

Accumulating

Fundamentals & Estimates

Weighted valuation multiples and analyst forecasts

Valuation Multiples
Weighted P/E
31.6
Weighted Fwd P/E
14.62
💰 Revenue Estimates
Current Year CY
+70.83% ⌀ 40 Analysts Coverage
Next Year NY
+39.61% ⌀ 42 Analysts Coverage
📈 EPS Estimates (Earnings Per Share)
Current Year CY
+87.43% ⌀ 32 Analysts Coverage
Next Year NY
+45.98% ⌀ 34 Analysts Coverage

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ETF Profile
Provider
VanEck
VanEck
Fund Type
ETF
Inception Date
12/01/2020 (5 yrs)
Region
World
Country
-
Distribution Policy
Accumulating
Replication
Full replication
Sustainable
Yes

🛡️ Risk & Structural Analysis

Multi-Factor Risk Model & Market Data

7/7 Very High
7/100 Low (Concentration Risk)
Diversification Score
7/100 Low (Concentration Risk)
5Y Volatility
34.4% p.a.
Max Drawdown (5Y)
-45.4%
Sharpe Ratio (5Y)
1.00
Beta Factor
1.39
Notes & Warnings
Fund Volume (AUM) 🟢 Established large fund (> 500M € AUM)
⚠️ Elevated valuation: Avg P/E of 31.6
🔴 Extreme top 10 holdings concentration: 83% of fund in top 10 positions.
🔴 Severe sector concentration risk: 100% in "Technology".
🔴 Extreme industry concentration: 77% in "Semiconductors".
ℹ️ Tech-Capex Exposure: 98% in semiconductors & hardware – dependent on hyperscaler capex cycles.
🔴 Structurally High Volatility: Above-average fluctuations persist across 5 to 10 years (34.4% p.a.).
⚠️ Historical Stress Test: Maximum peak-to-trough drawdown of -45.4% in the extended horizon.
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