SMH Has Crushed the S&P 500 by 2,041% Over a Decade, But Recent 42% Rally Signals Dangerous Valuations

The VanEck Semiconductor ETF (SMH) is trading near $510 after delivering roughly 141% over the past year, far outpacing the S&P 500’s 29% return. The article highlights continued strength and investor patience in semiconductors, but it contains no new catalyst or fundamental update. Impact is limited to sentiment around the sector’s strong momentum.

Analysis

The VanEck Semiconductor ETF (SMH) is trading near $510 after delivering roughly 141% over the past year, far outpacing the S&P 500’s 29% return. The article highlights continued strength and investor patience in semiconductors, but it contains no new catalyst or fundamental update. Impact is limited to sentiment around the sector’s strong momentum.