VanEck Semiconductor ETF (SMH) Shows Resilience Amid Market Fluctuations
The VanEck Semiconductor ETF (SMH) continues to demonstrate strong performance, gaining 2.5% over the past five days and maintaining a 43% year-to-date increase. The ETF, which tracks the MVIS US Listed Semiconductor 25 index, has drawn significant attention due to high-profile deals in the AI sector.
Recent fund flows reveal a nuanced picture: $17 million in net outflows over five days contrasts with $2 billion in net inflows over three months. Today's slight dip appears to reflect routine market adjustments or profit-taking rather than structural weakness.
Analyst consensus rates SMH as a Moderate Buy, with a $376.46 average price target suggesting 9% upside potential. Key holdings with notable upside include Universal Display, Nvidia, and Taiwan Semiconductor, while Intel and Skyworks Solutions show the greatest downside risk.
