Semiconductor ETFs Smash Records as Combined $SMH and $SOXX AUM Crosses $116B

Capital inflows into semiconductor equities have pushed exchange-traded funds tracking the sector to historic records, with combined assets under management (AUM) across the two premier semiconductor ETFs reaching approximately $116 billion.
The VanEck Semiconductor ETF ($SMH) has seen its AUM climb to $70 billion—hovering near its highest levels since July—representing an explosive growth of more than +500% since the beginning of 2024. Concurrently, BlackRock’s iShares Semiconductor ETF ($SOXX) has advanced to $46 billion in AUM, setting a new high-water mark after surging +360% over the same multi-year period.
The parabolic expansion in chip hardware funds highlights an ongoing divergence from pure-play enterprise software:
- $SMH (VanEck Semiconductor): ~$70B AUM (+500% since Jan 2024)
- $SOXX (iShares Semiconductor): ~$46B AUM (+360% since Jan 2024)
- $IGV (iShares Expanded Tech-Software Sector ETF): $13.5B AUM (+91% over the same timeframe)
The massive concentration of liquidity reflects continued investor positioning in foundational compute infrastructure, as AI capex spending across data center buildouts, custom silicon, and wafer fabrication continues to outpace software monetization multiples.