VanEck Fabless Semiconductor ETF (SMHX)

VanEck Fabless Semiconductor ETF (SMHX) is a passively managed VanEck fund that tracks an index of U.S.-listed fabless semiconductor companies. Fabless chipmakers design integrated circuits but outsource their manufacturing to third-party foundries instead of operating their own fabrication plants.

The fund's holdings are concentrated in companies that develop processors, graphics and AI accelerators, networking chips, analog and mixed-signal devices and related intellectual property. By excluding manufacturers and equipment makers, it offers a more targeted exposure to the design-focused segment of the semiconductor industry.