QQQ vs SMH
Invesco QQQ Trust vs VanEck Semiconductor ETF
Last updated: 2026-04-02
Invesco QQQ Trust (QQQ) is an exchange-traded fund issued by Invesco that provides exposure to large-cap U.S. growth stocks with above-average earnings potential. It charges a moderate expense ratio of 0.18%. The fund offers a modest dividend yield of 0.48%. Launched in 1999, the fund has a 27-year track record.
VanEck Semiconductor ETF (SMH) is an exchange-traded fund that provides exposure to thematic - semiconductors securities. It charges an above-average expense ratio of 0.35%. The fund offers a modest dividend yield of 0.28%. Launched in 2011, the fund has a 15-year track record.
Quick Verdict
QQQ is significantly cheaper at 0.18% vs 0.35% expense ratio, saving you approximately $332 per $10,000 invested over 10 years. Over the past year, SMH has significantly outperformed with a 84.5% return vs 23.6%.
Key Metrics
Performance Chart
Indexed to 100 at start (5-year comparison)
Performance Comparison
Fee Impact Over Time
Estimated fee cost difference assuming 8% annual returns
Risk Metrics
Based on 5 years of daily returns
Dividend Comparison
Top Holdings
2 of top 9 holdings overlap (22% overlap in top holdings)
QQQ Top Holdings
| Name | Weight |
|---|---|
| NVIDIA CorporationNVDA | 8.55% |
| Apple Inc.AAPL | 7.67% |
| Microsoft CorporationMSFT | 5.56% |
| Amazon.com, Inc.AMZN | 4.49% |
| Tesla, Inc.TSLA | 3.79% |
| Walmart Inc.WMT | 3.48% |
| Meta Platforms, Inc.META | 3.26% |
| Alphabet Inc.GOOG | 3.13% |
| Broadcom Inc.AVGO | 2.99% |
SMH Top Holdings
| Name | Weight |
|---|---|
| NVIDIA CorporationNVDA | 19.33% |
| Taiwan Semiconductor Manufacturing Company LimitedTSM | 11.73% |
| Broadcom Inc.AVGO | 7.76% |
| ASML Holding N.V.ASML | 5.04% |
| Advanced Micro Devices, Inc.AMD | 4.76% |
| KLA CorporationKLAC | 4.76% |
| Lam Research CorporationLRCX | 4.66% |
| Analog Devices, Inc.ADI | 4.65% |
| Applied Materials, Inc.AMAT | 4.64% |
| Texas Instruments IncorporatedTXN | 4.63% |
Which One Should You Choose?
Choose QQQ if...
you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.
Choose SMH if...
recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.