Semiconductors ETFs

The Performance / Risk chart of the Semiconductors  ETFs suggests that investment allocations across the industry, heavily concentrated between approx. 25 to 30 stocks including  design, manufacture, and distribution of semiconductors, is not strictly aligned across the specialized funds

The spread in performance and  volatility (reflecting risk exposure) sets the funds favoring the largest companies in the industry apart

• VanEck Semiconductor ETF (SMH®) 
• iShares Semiconductor ETF 

 ETFs with a fuller representation, and a tilt towards much smaller growth companies, seek diversification

• equal weighted, with exposure across large, mid and small cap stocks - SPDR® S&P® Semiconductor ETF 
• based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value - Invesco Dynamic Semiconductors ETF 

ASML Holding , a manufacturer of advanced chip-making equipment, is the benchmark of the semiconductor theme, because the order book of equipment makers will usually be front-running industry trends

Leveraged ETFs are not included in the theme 

• Direxion Daily Semiconductor Bull 3x Shares 
• ProShares Ultra Semiconductors 2x  
• GraniteShares 1.5x Long NVDA Daily ETF