SMH vs XLK: Yield, Cost and Returns Compared
As of Nov 5, 2026, XLK yields more: 0.50% (dividend yield) against 0.24% for SMH. XLK is cheaper to own at 0.08% a year vs 0.35%. Over the same 18 years (Dec 2007 to Oct 2026), SMH returned 22.5% a year with distributions reinvested, and XLK 16.3%.
| Compared | SMH | XLK |
|---|---|---|
| YieldDividend yield | 0.24% | 0.50% |
| Expense ratio | 0.35% | 0.08% |
| Total return, 1 yr | +44.4% | +20.0% |
| Total return, 3 yr (a year) | +56.2% | +30.7% |
| Total return, 5 yr (a year) | +31.5% | +18.2% |
| Total return, 10 yr (a year) | +32.6% | +23.7% |
| Worst drop since Dec 2007 | -48.8% | -46.4% |
| Share price since Dec 2007 | +3119% | +1247% |
| Pays | Annual | Quarterly |
| Issuer | VanEck | State Street Investment Management |
| Assets | $66.4B | $118.7B |
| Started | 2011 | 1998 |
| Type | Technology | Technology |
Higher yield
XLK
0.50%
Lower cost
XLK
0.08%
Better total return
SMH
22.5%/yr
Smaller worst drop
XLK
-46.4%
Key facts: SMH vs XLK
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, SMH yields 0.24% (dividend yield) and XLK yields 0.50% (dividend yield).
- SMH's expense ratio is 0.35% and XLK's is 0.08%: $35 vs $8 a year on $10,000.
- From Dec 2007 to Oct 2026, $10,000 in SMH grew to $455,131 (22.5% a year) and $10,000 in XLK to $172,274 (16.3% a year), distributions reinvested.
- Their worst month-end drops over that time: -48.8% for SMH and -46.4% for XLK.
- 4 of SMH's top ten holdings are also in XLK's top ten, an overlap of at least 28% of the fund.
Cite this page
SmarterDividends, "SMH vs XLK: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/smh-vs-xlk
$10,000 in each, Dec 2007 to Oct 2026
Distributions reinvested, month-end values, with the S&P 500 for reference.
SMH became
$455,131
22.5% a year
XLK became
$172,274
16.3% a year
Year by year
| Year | SMH | XLK |
|---|---|---|
| 2025 | +49.2% | +24.6% |
| 2024 | +39.1% | +21.6% |
| 2023 | +73.4% | +56.0% |
| 2022 | −33.5% | −27.7% |
| 2021 | +42.1% | +34.8% |
| 2020 | +55.5% | +43.6% |
| 2019 | +64.4% | +49.8% |
| 2018 | −9.1% | −1.7% |
| 2017 | +38.5% | +34.2% |
| 2016 | +35.5% | +15.0% |
| 2015 | −0.3% | +5.5% |
| 2014 | +30.2% | +17.9% |
| 2013 | +33.3% | +26.2% |
| 2012 | +8.6% | +15.4% |
| 2011 | +6.6% | +2.5% |
| 2010 | +18.6% | +11.5% |
| 2009 | +60.7% | +51.1% |
| 2008 | −44.6% | −41.5% |
Total return each calendar year, distributions reinvested.
Top holdings
4 of the top ten overlap, at least 28% of each fund.
SMH
- NVDA NVIDIA Corp20.2%
- TSM Taiwan Semiconductor Manufacturing Co Ltd ADR9.6%
- TXN Texas Instruments Inc5.7%
- AVGO Broadcom Inc5.6%
- AMD Advanced Micro Devices Inc5.3%
- ADI Analog Devices Inc5.0%
- MU Micron Technology Inc4.7%
- ASML ASML Holding NV ADR4.5%
- KLAC KLA Corp4.3%
- SKHY SK hynix Inc ADR4.1%
XLK
- AAPL Apple Inc15.3%
- NVDA NVIDIA Corp15.1%
- MSFT Microsoft Corp11.8%
- AVGO Broadcom Inc4.7%
- AMD Advanced Micro Devices Inc4.5%
- MU Micron Technology Inc4.0%
- PLTR Palantir Technologies Inc Ordinary Shares - Class A2.6%
- CSCO Cisco Systems Inc2.5%
- INTC Intel Corp2.0%
- AMAT Applied Materials Inc1.9%
SMH vs XLK: questions
Is SMH or XLK better?
It depends on the job. XLK pays more today (0.50% vs 0.24%), XLK costs less, and SMH has the better total return over Dec 2007 to Oct 2026, with XLK holding up better in its worst stretch. For income, look at yield and whether the payouts hold up; for growth, total return and drawdowns.
Which pays a higher dividend, SMH or XLK?
XLK, at 0.50% against 0.24% for SMH as of Nov 5, 2026. On $10,000 that's about $50 vs $24 a year at today's rates.
Which has the better total return?
SMH. From Dec 2007 to Oct 2026, it returned 22.5% a year with distributions reinvested, against 16.3% for XLK. $10,000 became $455,131 vs $172,274.
Which is cheaper, SMH or XLK?
XLK, with a 0.08% expense ratio against 0.35%.
Do SMH and XLK hold the same things?
Partly. 4 of their top ten holdings match (NVDA, AVGO, AMD, MU), at least 28% of each fund. Owning both doubles up on those.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. SMH leads on 5 of 8 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.