SMH Sees -$37.3 Million in Fund Inflows in Trailing 12 Months



Overview of the SMH ETF

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. Its market capitalization is $343.2 million with an expense ratio of 0.35% and an average daily volume of shares traded of $216.2 million. The price-to-earnings ratio of the ETF is 15.24x whereas its price-to-book value ratio and distribution yield stand at 3.28x and 1.2%, respectively.

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Top holdings

The top 5 holdings of the ETF include Intel (INTC) at 17.3%, Taiwan Semiconductor (TSM) at 13.0%, ASML Holding at 4.8%, Texas Instruments (TXN) at 5.2%, and Qualcomm (QCOM) at 10.4%. These five holdings comprise over 50% of the total portfolio. Intel comprises 0.87% of the SPDR S&P 500 ETF (SPY) as well.

Fund flows

In the trailing-one-month period, net fund inflows for the VanEck Vectors Semiconductor ETF (SMH) were $121.2 million, whereas, in the trailing-12-month period, net fund outflows stood at -$37.3 million. Fund flows in the trailing-one-week and trailing-three-month (or quarterly) periods for the SMH ETF were -$114.7 million and -$78.5 million respectively.

The SMH ETF generated investor returns of 11.6% in the trailing-12-month period and 7.5% in the trailing-one-month period. In comparison, it generated 22.9% returns in the trailing-three-year period, -1.4% YTD (year to date) and 1.6% in the last three months. We can see that fund flows are directly related to ETF returns.

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Moving averages

On October 23, 2015, the SMH ETF closed the trading day at $56.1. Based on this figure, here’s how the stock fares in terms of its moving averages:

  • 7.2% above its 100-day moving average of $52.4
  • 11.2% above its 50-day moving average of $50.5
  • 7.6% above its 20-day moving average of $50.2

Relative strength index

The SMH ETF’s 14-day RSI (relative strength index) is 74.7, showing that the ETF is slightly overbought[1. Generally, if the RSI is above 70, it indicates the stock is overbought. An RSI figure below 30 suggests that a stock has been oversold.].


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