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SMH: $26.45 Million in Fund Outflows in Trailing 12-Month Period

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Overview of SMH

The VanEck Vectors Semiconductor ETF (SMH) tracks a market cap–weighted portfolio of US semiconductor companies. This ETF tracks the performance of 26 publicly listed companies in the US semiconductor sector. The market capitalization of SMH is $179.29 million, with an expense ratio of 0.35% and an average daily volume of shares traded of $220.83 million.

The top five holdings of the SMH are:

  • Intel Corp.(INTC): 19.06%
  • Taiwan Semiconductors (TSM): 15.58%
  • ASML Holding: 6.02%
  • Texas Instruments (TXN): 5.16%
  • Broadcom Corporation (BRCM): 4.64%

These five stocks comprise over 50% of SMH’s total portfolio.

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Fund flows in SMH

In the trailing one-month period, fund outflows for the VanEck Vectors Semiconductor ETF (SMH) have been $241.22 million. In the trailing 12-month (or TTM) period, net fund outflows were $26.45 million. Fund flows in the trailing one-week and trailing three-month (quarterly) periods for SMH are -$65.53 million and -$154.76 million, respectively. Since June 26, 2015, SMH has traded consistently below its moving averages and since then, fund outflows in the ETF have been -$160.65 million.

SMH generated investor returns of -3.48% in the trailing 12-month period and 0.02% in the trailing one-month period. In comparison, it generated 16.94% returns in the trailing three-year period, -8.18% year-to-date, and -13.39% in the last three months. We can see that fund flows are directly related to ETF returns.

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Moving averages

On September 18, 2015, SMH closed the trading day at $50.15. Based on this figure, here’s how the stock fares in terms of its moving averages:

  • 80% below its 100-day moving average of $53.81
  • 38% below its 50-day moving average of $50.85
  • 73% above its 20-day moving average of $49.29

Relative strength index

SMH’s 14-day RSI (relative strength index) is 49.43, which shows that the ETF is neither overbought nor oversold. Generally, if the RSI is above 70, it indicates the stock is overbought. An RSI figure of below 30 suggests that a stock is oversold.

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