SMH · WMTMT

Dec 31Mar 13May 21Aug 3Oct 9

Breadth

25 / 25

stocks rose with the index

Concentration

33%

of the gain from AMD, INTC, MU

Biggest driver

AMD +30.07

class="svelte-77tdkt">3, +183.95%

Biggest drag

SKHY −2.93

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

What drove it

25 members · drivers first · YTD · residual 847.3bp exceeds 60bp gate

The SMH rose 67.53% (+243.20 pts) so far this 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

+248.4 pts from 24 gainers−2.9 pts from 1 losers

net +243.2 pts · gainers outweigh losers 84.7 to 1

Stock

Points

Return

SMHsum of all 25 stocks

+243.2

+67.53%

AMDclass="svelte-77tdkt">3

+30.1

+183.95%

INTCclass="svelte-77tdkt">10

+27.5

+183.74%

MUclass="svelte-77tdkt">5

+23.3

+260.70%

TSMclass="svelte-77tdkt">2

+22.0

+49.91%

MRVLclass="svelte-77tdkt">6

+18.9

+224.32%

AMATclass="svelte-77tdkt">7

+18.1

+97.79%

NVDAclass="svelte-77tdkt">1

+18.0

+23.09%

LRCXclass="svelte-77tdkt">12

+16.7

+86.61%

KLACclass="svelte-77tdkt">9

+14.3

+61.37%

TXNclass="svelte-77tdkt">8

+13.8

+65.46%

ASMLclass="svelte-77tdkt">11

+11.3

+67.00%

ADIclass="svelte-77tdkt">14

+9.0

+50.65%

TERclass="svelte-77tdkt">18

+4.8

+106.15%

ALABclass="svelte-77tdkt">20

+4.4

+105.70%

MPWRclass="svelte-77tdkt">19

+4.2

+53.45%

CDNSclass="svelte-77tdkt">16

+2.6

+12.88%

STMclass="svelte-77tdkt">23

+2.5

+101.51%

ARMclass="svelte-77tdkt">21

+1.9

+143.60%

ONclass="svelte-77tdkt">25

+1.3

+43.18%

MCHPclass="svelte-77tdkt">24

+1.3

+19.85%

SNPSclass="svelte-77tdkt">17

+1.2

+8.57%

NXPIclass="svelte-77tdkt">22

+0.9

+5.72%

AVGOclass="svelte-77tdkt">4

+0.4

+4.85%

QCOMclass="svelte-77tdkt">15

+0.1

+3.66%

SKHYclass="svelte-77tdkt">13

−2.9

+1.62%

Cap weighting, illustrated

class="svelte-77tdkt">2 and class="svelte-77tdkt">25 moved almost identically (+49.91% vs +43.18%), yet TSM moved the SMH 16.7× 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 +243.20 pt move · cell size = points contributed · color = direction, intensity = return

AMD+30.1 pts(+183.9%)

INTC+27.5 pts(+183.7%)

MU+23.3 pts(+260.7%)

TSM+22.0 pts(+49.9%)

MRVL+18.9 pts(+224.3%)

AMAT+18.1 pts(+97.8%)

NVDA+18.0 pts(+23.1%)

LRCX+16.7 pts(+86.6%)

KLAC+14.3 pts(+61.4%)

TXN+13.8 pts(+65.5%)

ASML+11.3 pts(+67.0%)

ADI+9.0 pts(+50.7%)

TER

ALAB+4.4 pts

MPWR+4.2 pts

SKHY−2.9 pts

CDNS+2.6 pts

STM+2.5 pts

ARM

MCHP

SNPS

Concentration curve

cumulative share of the +243.20 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

0%+50%+100%+150%+200%+250%

From +1.62% (SKHY) to +260.70% (MU). Equal-weight, the SMH would be +83.44% vs the actual +67.53%; the gap is what cap weighting did.

By sector

point contribution · sums to +243.20 pts

Unknown25

+245.5

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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