US-listed · NASDAQ · FIF-eligible (above NZ$50K)
VanEck SMH VanEck Semiconductor ETF
Tracks the MVIS US Listed Semiconductor 25 Index — 25 largest US-listed semiconductor companies (Nvidia, TSMC, Broadcom, ASML, AMD, etc).
Updated Reviewed quarterly
About this fund
What is SMH?
SMH is the US-listed ticker for VanEck Semiconductor ETF, issued by VanEck. Tracks the MVIS US Listed Semiconductor 25 Index — 25 largest US-listed semiconductor companies (Nvidia, TSMC, Broadcom, ASML, AMD, etc). TER is 0.35% per year, with a trailing 12-month distribution yield of approximately 0.5%. Distributions are paid annual.
How to buy
Where can I buy SMH from New Zealand?
Hatch NZ-built. US$3 flat per trade, ~0.5% FX.
Stake Commission-free US shares; ~0.7% FX.
Sharesies NZ + AU + US in one account; tiered subscription pricing.
Interactive Brokers Tiered commissions; FX margin ~0.002% (lowest published of platforms reviewed).
See the full platform comparison for fees, minimums, and supported markets across all 11 NZ-accessible brokers.
NZ tax
How is SMH taxed for NZ investors?
SMH is US-listed, so it sits in the Foreign Investment Fund (FIF) regime once your overseas-share holdings exceed NZ$50,000 cost basis. Below that threshold, the FIF regime does not apply and you pay tax on dividends only.
Above NZ$50K cost basis, most NZ retail investors use the Fair Dividend Rate (FDR) method — deemed income = 5% × opening market value × your marginal tax rate. FDR vs CV method →
US dividends carry 15% US withholding tax under the NZ–US tax treaty (file a W-8BEN with your broker; without it, the rate is 30%). The 15% can be claimed as a foreign tax credit on your IR3.
Tax outcomes depend on your portfolio size, marginal rate, and FDR-vs-CV election. See PIE vs FIF for the full comparison and consult a registered NZ tax adviser for personalised guidance.
FAQ
Common questions about SMH
What is the SMH ETF? ⌄
SMH is the VanEck Semiconductor ETF — it tracks the MVIS US Listed Semiconductor 25 Index, holding the 25 largest US-listed semiconductor companies. Top holdings include Nvidia, TSMC ADR, Broadcom, ASML, AMD, Qualcomm, Applied Materials. TER is 0.35%, distributions paid annually. Yield ~0.5% (low — semis reinvest rather than pay dividends).
SMH vs SOXX — which semiconductor ETF? ⌄
Both track US-listed semiconductor companies but with different indexes. SMH tracks the MVIS index (top 25 by market cap, weighted by float-adjusted cap). SOXX tracks the PHLX SOX index (~30 companies, modified-cap weighting). SMH is more concentrated in mega-caps; SOXX more equal-weighted. Same TER (0.35%). Performance typically within 0.3-0.5% of each other annually.
Can NZ residents buy SMH? ⌄
Yes. SMH is available via Hatch, Stake, Sharesies (US market), and Interactive Brokers. Above NZ$50,000 cost basis FIF rules apply (FDR method most common — 5% × MV × marginal rate). Note: semiconductor sector is high-volatility; the FDR floor + sector volatility interaction can produce poor after-tax outcomes in down years.
Should I hold SMH alongside QQQM or VGT? ⌄
Heavy overlap. Semi mega-caps (Nvidia, AVGO, AMD) are ~25-30% of QQQM (Nasdaq-100) and ~30-35% of VGT (Vanguard Information Technology). Holding SMH on top of QQQM or VGT compounds tech-sector overweight. Some investors do this for a deliberate semi tilt; others see it as concentrated tech exposure that increases portfolio risk without diversification.
Related ETFs and resources
SOXX — iShares Semiconductor (sibling)
Same sector exposure, different index methodology. Same 0.35% TER.
VGT — Vanguard Information Technology (broader)
Broader tech-sector exposure (semis + software + services). 0.10% TER.
QQQM — Invesco Nasdaq-100
Tech-heavy Nasdaq-100; ~30% in semis.
SOXL — 3× leveraged semiconductor (high risk)
Tactical-trading-only; daily-reset decay applies.
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