ETF Overview
VanEck Vectors Semiconductor ETF (SMH) owns a portfolio of large-cap semiconductor stocks. The fund seeks to track the investment results of the MVIS U.S. Listed Semiconductor 25 Index. Stocks in SMH’s portfolio should continue to enjoy favorable industry fundamental as the semiconductor industry is set to grow at a rate of 7.67% annually through 2024. In addition, stocks in SMH’s portfolio have competitive positions over their smaller peers. However, these stocks are quite expensive than their historical averages. We do not think the current risk and rewards profile attractive. Hence, investors