SMHX targets fabless semiconductor companies that focus on
design and R&D rather than manufacturing, and builds on
VanEck’s suite of thematic equity ETFs, which includes the $23
billion VanEck Semiconductor ETF (SMH).
Fabless chip companies avoid the high costs of owning
manufacturing facilities and can deploy more resources towards
innovation, making them well-equipped to adapt to new technologies,
market demands, and scaling needs.
VanEck is today announcing the newest addition to its suite of
thematic equity ETFs: the VanEck Fabless Semiconductor ETF (SMHX),
targeting semiconductor companies that design and develop chips but
outsource their manufacturing.
Unlike integrated chip manufacturers, fabless companies focus
solely on chip design and development and outsource their
production. This approach allows them to avoid the high costs of
owning manufacturing facilities, allocating resources instead to
invest heavily in research & development and respond more
quickly to technological advances and changing market dynamics.
SMHX joins a VanEck thematic ETF lineup that already includes
the VanEck Semiconductor ETF (SMH), a $23 billion fund that is
designed to provide exposure to the performance of the largest and
most liquid companies in the global semiconductor industry,
regardless of whether they operate as fabless or integrated
organizations.
“The global semiconductor space has been going through a
transformational period in recent years, as demand has spiked
alongside advancements in generative AI and other fast-moving
technologies. Despite recent volatility, there remain a number of
tailwinds for the industry, including the CHIPS Act,” said Nicholas
Frasse, Associate Product Manager with VanEck. “While the Act is
primarily aimed at increasing manufacturing capacity in the U.S.,
it bolsters the ecosystem fabless companies rely on. With their
leaner operations and focus on R&D, companies that take a
fabless approach are well-positioned to benefit from the enhanced
manufacturing incentives, driving further innovation and gaining
deployment capabilities. That’s why we’re very pleased to be making
SMHX available to investors alongside SMH and our other thematic
offerings.”
SMHX seeks to track, before fees and expenses, the performance
of the MarketVector™ US Listed Fabless Semiconductor Index
(MVSMHX), which is designed to track the overall performance of
fabless companies in the semiconductor industry. To be eligible for
inclusion, companies must be pure play in nature, generating at
least 50% of their revenues from fabless semiconductor business
lines.
“For investors who are more focused on innovation than vertical
integration and on R&D spending as opposed to manufacturing,
SMHX could be an important part of a diversified equity portfolio.
We look forward to further educating all types of investors about
the role fabless chip designers are playing in the powerful
technological changes of the past few years and the advancements
still to come,” added Frasse.
VanEck regularly publishes research and insights around the
semiconductor space and other key thematic areas, most recently
providing an overview of fabless semiconductor companies “in the
CHIPS Act Era.”
About VanEck
VanEck has a history of looking beyond the financial markets to
identify trends that are likely to create impactful investment
opportunities. We were one of the first U.S. asset managers to
offer investors access to international markets. This set the tone
for the firm’s drive to identify asset classes and trends –
including gold investing in 1968, emerging markets in 1993, and
exchange traded funds in 2006 – that subsequently shaped the
investment management industry.
Today, VanEck offers active and passive strategies with
compelling exposures supported by well-designed investment
processes. As of July 31, 2024, VanEck managed approximately $111
billion in assets, including mutual funds, ETFs and institutional
accounts. The firm’s capabilities range from core investment
opportunities to more specialized exposures to enhance portfolio
diversification. Our actively managed strategies are fueled by
in-depth, bottom-up research and security selection from portfolio
managers with direct experience in the sectors and regions in which
they invest. Investability, liquidity, diversity, and transparency
are key to the experienced decision-making around market and index
selection underlying VanEck’s passive strategies.
Since our founding in 1955, putting our clients’ interests
first, in all market environments, has been at the heart of the
firm’s mission.
Disclosures
This is not an offer to buy or sell, or a recommendation to buy
or sell any of the securities, financial instruments or digital
assets mentioned herein. The information presented does not involve
the rendering of personalized investment, financial, legal, tax
advice, or any call to action. Certain statements contained herein
may constitute projections, forecasts and other forward-looking
statements, which do not reflect actual results, are for
illustrative purposes only, are valid as of the date of this
communication, and are subject to change without notice. Actual
future performance of any assets or industries mentioned are
unknown. Information provided by third party sources are believed
to be reliable and have not been independently verified for
accuracy or completeness and cannot be guaranteed. VanEck does not
guarantee the accuracy of third party data. The information herein
represents the opinion of the author(s), but not necessarily those
of VanEck or its other employees.
An investment in the VanEck Semiconductor ETF (SMH) and VanEck
Fabless Semiconductor ETF (SMHX) may be subject to risks which
include, among others, risks related to investing in the
semiconductor industry, special risk considerations of investing in
Taiwanese issuers, information technology sector, equity
securities, small-, medium and large-capitalization companies,
foreign securities, emerging market issuers, foreign currency,
depositary receipts, issuer-specific changes, market, operational,
index tracking, authorized participant concentration, new fund, no
guarantee of active trading market, trading issues, passive
management, fund shares trading, premium/discount and liquidity of
fund shares, non-diversified, and index-related concentration
risks, all of which may adversely affect the Fund. Small, medium
and large-capitalization companies may be subject to elevated
risks. Emerging market issuers and foreign securities may be
subject to securities markets, political and economic, investment
and repatriation restrictions, different rules and regulations,
less publicly available financial information, foreign currency and
exchange rates, operational and settlement, and corporate and
securities laws risks.
Investing involves substantial risk and high volatility,
including possible loss of principal. An investor should consider
the investment objective, risks, charges and expenses of a Fund
carefully before investing. To obtain a prospectus and summary
prospectus, which contain this and other information, call
800.826.2333 or visit vaneck.com. Please read the prospectus and
summary prospectus carefully before investing.
© Van Eck Securities Corporation, Distributor, a wholly owned
subsidiary of Van Eck Associates Corporation 666 Third Avenue, New
York, NY 10017 Phone: 800.826.2333 Email: info@vaneck.com
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Media Chris Sullivan Craft & Capital 917.902.0617
chris@craftandcapital.com
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