Key Differences
| Feature | SPY | SMH |
|---|---|---|
| Expense Ratio | 0.09% | 0.35% |
| Dividend Yield | 1.2% | 0.3% |
| Holdings | 500+ | 25 |
| Index Tracked | S&P 500 Index | MVIS US Listed Semiconductor 25 Index |
| Inception Date | 1993-01-22 | 2011-12-20 |
SPY vs SMH: Which Is Better?
SPY and SMH are both widely used by ETF investors, but they serve different portfolio roles depending on diversification goals, sector exposure, and long-term strategy.
SPY is designed for investors seeking broad U.S. large-cap exposure and tracks S&P 500 Index. It is commonly used in portfolios focused on us large cap allocations.
SMH is designed for investors seeking semiconductor industry exposure and tracks MVIS US Listed Semiconductor 25 Index. It is commonly used in portfolios focused on technology allocations.
Portfolio Overlap
Understanding how much SPY and SMH overlap in their underlying holdings is key to evaluating whether combining them adds diversification or creates redundancy in your portfolio.
Explore More Tools
Overlap Calculator
See exactly which holdings SPY and SMH share and the weighted overlap percentage.
Analyze overlapResearch SPY & SMH
Research ETF returns, holdings, sector and country exposure, and the latest ETF-related news.
Portfolio Builder
Generate a diversified ETF portfolio based on your goals, risk tolerance, and investment timeline.
See how it worksRelated ETF Comparisons
Analyze Your ETF Portfolio
Compare holdings, detect overlap, and optimize diversification — completely free.
Launch Overlap Analyzer