SMH · WMTMT

Oct 1, 2021Jan 4, 2023Apr 9, 2024Jul 9, 2025Oct 9, 2026

Breadth

25 / 25

stocks rose with the index

Concentration

59%

of the gain from NVDA, TSM, AMD

Biggest driver

NVDA +122.95

class="svelte-77tdkt">1, +1,008.97%

Biggest drag

SKHY −2.93

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

What drove it

25 members · drivers first · 5Y · residual 2089.2bp exceeds 60bp gate

The SMH rose 135.23% (+346.84 pts) over five years in a broad advance: 25 of 25 stocks rose, with NVDA out front at +122.95 points.

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

+477.2 pts from 23 gainers−3.7 pts from 2 losers

net +346.8 pts · gainers outweigh losers 129.6 to 1

Stock

Points

Return

SMHsum of all 25 stocks

+346.8

+135.23%

NVDAclass="svelte-77tdkt">1

+122.9

+1,008.97%

TSMclass="svelte-77tdkt">2

+44.2

+338.88%

AMDclass="svelte-77tdkt">3

+36.9

+493.56%

AVGOclass="svelte-77tdkt">4

+34.6

+708.97%

MUclass="svelte-77tdkt">5

+29.3

+1,384.39%

KLACclass="svelte-77tdkt">9

+27.9

+511.89%

LRCXclass="svelte-77tdkt">12

+26.3

+487.82%

MRVLclass="svelte-77tdkt">6

+23.8

+368.60%

AMATclass="svelte-77tdkt">7

+23.2

+308.86%

INTCclass="svelte-77tdkt">10

+16.8

+111.14%

ASMLclass="svelte-77tdkt">11

+15.5

+152.42%

ADIclass="svelte-77tdkt">14

+15.4

+163.07%

CDNSclass="svelte-77tdkt">16

+14.4

+130.60%

SNPSclass="svelte-77tdkt">17

+10.4

+68.60%

ALABclass="svelte-77tdkt">20

+7.1

+451.68%

MPWRclass="svelte-77tdkt">19

+6.8

+197.14%

TERclass="svelte-77tdkt">18

+6.6

+271.12%

QCOMclass="svelte-77tdkt">15

+5.2

+51.18%

TXNclass="svelte-77tdkt">8

+3.8

+67.74%

ARMclass="svelte-77tdkt">21

+3.4

+318.75%

ONclass="svelte-77tdkt">25

+2.3

+69.98%

STMclass="svelte-77tdkt">23

+0.4

+25.24%

NXPIclass="svelte-77tdkt">22

+0.1

+28.71%

MCHPclass="svelte-77tdkt">24

−0.7

+9.65%

SKHYclass="svelte-77tdkt">13

−2.9

+1.62%

Cap weighting, illustrated

class="svelte-77tdkt">2 and class="svelte-77tdkt">21 moved almost identically (+338.88% vs +318.75%), yet TSM moved the SMH 13.1× 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 +346.84 pt move · cell size = points contributed · color = direction, intensity = return

NVDA+122.9 pts(+1,009.0%)

TSM+44.2 pts(+338.9%)

AMD+36.9 pts(+493.6%)

AVGO+34.6 pts(+709.0%)

MU+29.3 pts(+1,384.4%)

KLAC+27.9 pts(+511.9%)

LRCX+26.3 pts(+487.8%)

MRVL+23.8 pts(+368.6%)

AMAT+23.2 pts(+308.9%)

INTC+16.8 pts(+111.1%)

ASML+15.5 pts(+152.4%)

ADI+15.4 pts(+163.1%)

CDNS+14.4 pts(+130.6%)

SNPS+10.4 pts

ALAB+7.1 pts

MPWR+6.8 pts

TER+6.6 pts

QCOM+5.2 pts

TXN

SKHY

Concentration curve

cumulative share of the +346.84 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

0%+200%+400%+600%+800%+1,000%+1,200%

From +1.62% (SKHY) to +1,384.39% (MU). Equal-weight, the SMH would be +339.26% vs the actual +135.23%; the gap is what cap weighting did.

By sector

point contribution · sums to +346.84 pts

Unknown25

+473.5

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUGSEPOCT

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What drove it

Attribution map

Concentration curve

When they drove it

Breadth

By sector

The year, session by session

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