SMH · WMTMT

Oct 8, 2025Jan 8, 2026Apr 10, 2026Jul 13, 2026Oct 9, 2026

Breadth

25 / 25

stocks rose with the index

Concentration

32%

of the gain from AMD, INTC, MU

Biggest driver

AMD +30.07

class="svelte-77tdkt">3, +158.15%

Biggest drag

SKHY −2.93

class="svelte-77tdkt">13, +1.62%

What drove it

25 members · drivers first · 1Y · residual 1152.8bp exceeds 60bp gate

The SMH rose 74.34% (+257.26 pts) over the past year in a broad advance: 25 of 25 stocks rose, with AMD out front at +30.07 points.

Read the latest market-close note: Goldman and Microsoft Push the Dow to a Large Gain While Telecoms Sink Communication Services

+261.8 pts from 24 gainers−2.9 pts from 1 losers

net +257.3 pts · gainers outweigh losers 89.2 to 1

Stock

Points

Return

SMHsum of all 25 stocks

+257.3

+74.34%

AMDclass="svelte-77tdkt">3

+30.1

+158.15%

INTCclass="svelte-77tdkt">10

+25.6

+179.72%

MUclass="svelte-77tdkt">5

+25.6

+424.01%

NVDAclass="svelte-77tdkt">1

+22.0

+21.39%

TSMclass="svelte-77tdkt">2

+21.6

+49.99%

AMATclass="svelte-77tdkt">7

+20.7

+134.17%

LRCXclass="svelte-77tdkt">12

+19.4

+124.47%

MRVLclass="svelte-77tdkt">6

+17.7

+198.16%

KLACclass="svelte-77tdkt">9

+17.3

+84.84%

TXNclass="svelte-77tdkt">8

+13.4

+59.46%

ADIclass="svelte-77tdkt">14

+11.6

+72.33%

ASMLclass="svelte-77tdkt">11

+11.0

+81.19%

TERclass="svelte-77tdkt">18

+6.0

+176.15%

MPWRclass="svelte-77tdkt">19

+4.2

+42.04%

ALABclass="svelte-77tdkt">20

+3.6

+56.00%

STMclass="svelte-77tdkt">23

+2.1

+81.44%

AVGOclass="svelte-77tdkt">4

+1.8

+5.23%

CDNSclass="svelte-77tdkt">16

+1.7

+0.81%

MCHPclass="svelte-77tdkt">24

+1.4

+15.13%

SNPSclass="svelte-77tdkt">17

+1.2

+4.22%

ONclass="svelte-77tdkt">25

+1.2

+52.38%

QCOMclass="svelte-77tdkt">15

+1.1

+6.23%

NXPIclass="svelte-77tdkt">22

+0.8

+2.15%

ARMclass="svelte-77tdkt">21

+0.5

+59.67%

SKHYclass="svelte-77tdkt">13

−2.9

+1.62%

Cap weighting, illustrated

class="svelte-77tdkt">8 and class="svelte-77tdkt">21 moved almost identically (+59.46% vs +59.67%), yet TXN moved the SMH 25.8× as much. In a cap-weighted index, the bigger company's weight turns the same percentage move into far more points.

Attribution map

slicing the +257.26 pt move · cell size = points contributed · color = direction, intensity = return

AMD+30.1 pts(+158.2%)

INTC+25.6 pts(+179.7%)

MU+25.6 pts(+424.0%)

NVDA+22.0 pts(+21.4%)

TSM+21.6 pts(+50.0%)

AMAT+20.7 pts(+134.2%)

LRCX+19.4 pts(+124.5%)

MRVL+17.7 pts(+198.2%)

KLAC+17.3 pts(+84.8%)

TXN+13.4 pts(+59.5%)

ADI+11.6 pts(+72.3%)

ASML+11.0 pts(+81.2%)

TER+6.0 pts

MPWR+4.2 pts(+42.0%)

ALAB+3.6 pts

SKHY−2.9 pts

CDNS

SNPS

QCOM

Concentration curve

cumulative share of the +257.26 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

0%+100%+200%+300%+400%

From +0.81% (CDNS) to +424.01% (MU). Equal-weight, the SMH would be +86.76% vs the actual +74.34%; the gap is what cap weighting did.

By sector

point contribution · sums to +257.26 pts

Unknown25

+258.8

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUGSEPOCT

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VanEck Semiconductor ETF

What drove it

Attribution map

Concentration curve

When they drove it

Breadth

By sector

The year, session by session

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