iShares Semiconductor ETF(SOXX)
AI Look-Through Summary
AI GeneratedThe iShares Semiconductor ETF maintains a highly concentrated exposure within the technology sector, with holdings representing 72.9% of its total assets under management. This structural tilt is driven by significant weightings in major semiconductor manufacturers and equipment providers, where the top ten positions collectively command substantial influence over the fund's performance trajectory. Notably, the portfolio exhibits extreme concentration among its largest constituents; NVIDIA alone accounts for 8.3%, followed closely by AMD at 7.7% and Micron Technology at 7.0%. This clustering suggests that a material portion of the ETF's daily returns will be directly correlated with the operational successes or regulatory headwinds facing these specific market leaders rather than being broadly diversified across the wider semiconductor value chain.
Geographically, while the provided data does not explicitly detail regional breakdowns for each holding, the composition implies a heavy reliance on U.S.-based entities given that nine of the top ten holdings are domestic technology firms headquartered in America. The inclusion of an international ticker among the top ten positions introduces a minor non-domestic element, but the overwhelming presence of American giants like Broadcom and Applied Materials reinforces a distinct geographic bias toward the United States market. With assets under management exceeding $20 billion, this ETF functions as a leveraged proxy for the performance of a specific subset of the global chip industry rather than a broad-based semiconductor index. The data indicates that investors seeking exposure to this fund are effectively gaining concentrated equity positions in a narrow group of high-cap technology firms whose individual stock movements will disproportionately dictate the overall behavior of the basket.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-19 04:59:40.661583+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 95/100The investment profile of the iShares Semiconductor ETF demonstrates a highly coherent alignment with its stated theme, as nearly all top holdings are identified within the Technology sector. The portfolio is dominated by major players in semiconductor design and manufacturing equipment, such as NVIDIA, AMD, and Applied Materials, which directly reflect the fund's focus on this specific industry vertical. While there are minor entries listed without explicit sector classifications, their presence does not appear to dilute the thematic integrity of the fund given the overwhelming concentration of recognized semiconductor equities. The top ten holdings alone account for over half of the portfolio value, indicating a strategy that leverages market leaders within the defined niche rather than diversifying into unrelated sectors to obscure performance drivers.
Sector coherence is further reinforced by the fact that Technology comprises approximately seventy-three percent of the total asset allocation, leaving minimal room for drift into non-aligned industries. This heavy weighting ensures that the fund's performance remains tightly coupled with the broader semiconductor cycle and technological advancements specific to chip production and design. The structure suggests a genuine differentiation from broad market indices like the S&P 500, which typically feature significant exposure to healthcare, financials, and consumer staples alongside technology. By maintaining such a focused sector breakdown and excluding unrelated industries entirely, the fund adheres strictly to its thematic mandate without relying on obscure naming conventions or broad-market proxies to stabilize returns.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-24 10:55:00.827831+00
⚠️ Systemic Risk Synthesis
AI GeneratedThe newly disclosed risk factors from the top holdings of the iShares Semiconductor ETF highlight a convergence of regulatory and operational pressures centered on environmental compliance, cybersecurity mandates, and artificial intelligence governance. Multiple companies within this sector are explicitly flagging that adherence to evolving climate change regulations could materially adversely impact their financial conditions, while simultaneously noting that stricter data privacy requirements may drive up operational costs. Furthermore, the emergence of specific risks regarding responsible AI usage suggests a growing macro-level threat where regulatory frameworks aimed at governing generative and advanced computing technologies could constrain competitive positioning across the board. These disclosures indicate that the semiconductor industry is facing a synchronized shift toward heightened external compliance burdens that extend beyond traditional manufacturing or supply chain concerns into digital governance and sustainability reporting.
The concentration of these specific risk categories among the fund's largest constituents signals a significant potential for correlated downside exposure. With multiple top-weighted entities identifying similar threats related to regulatory costs, operational friction, and market access limitations due to new rules, the portfolio faces systemic vulnerability rather than isolated idiosyncratic events. The fact that leading firms like NVDA are simultaneously reporting risks in environmental compliance, cybersecurity, and AI regulation underscores a sector-wide trend where macroeconomic policy changes could uniformly compress margins or alter business models across the entire semiconductor complex held by this fund. This clustering of risk factors suggests that adverse developments in any single regulatory domain—such as stricter climate laws or expanded data privacy statutes—could trigger synchronized financial stress rather than diversified outcomes.
While systemic risks dominate the current disclosure landscape, specific high-weight exposures remain notable for their potential disproportionate impact on portfolio performance. NVDA, holding an 8.3% weight, uniquely reports all three identified risk categories among its top disclosures, creating a focal point where environmental, cyber, and AI regulatory costs could accumulate most rapidly within this fund. The sheer magnitude of this single position means that any material adverse event stemming from these specific compliance challenges carries amplified significance for the ETF's overall trajectory compared to holdings with lower individual weights or fewer overlapping risk flags.
Synthesized from constituent 10-K risk factor disclosures. Not investment advice. Updated: 2026-05-23 11:25:44.575717+00
🏢 Sector Analysis
AI GeneratedThe iShares Semiconductor ETF demonstrates an overwhelming concentration within the Technology sector, which accounts for nearly 73% of its total assets through just sixteen holdings. This heavy weighting indicates a distinct investment thesis centered exclusively on semiconductor manufacturers and related equipment providers rather than seeking diversification across broader technology sub-sectors like software or hardware services. The fund's structure suggests that performance will be almost entirely driven by the cyclical fortunes, regulatory environment, and capital expenditure trends specific to the chip industry, leaving little room for offsetting gains from other technological innovations not directly tied to semiconductor production.
Concentration risk is a defining characteristic of this vehicle, evidenced by the top ten holdings comprising over 56% of the portfolio's value. The dominance of individual equities such as NVIDIA and AMD within these rankings amplifies idiosyncratic risks associated with any single company facing supply chain disruptions, margin compression, or competitive pressures. Because all major constituents fall under the same sector classification, traditional diversification benefits are significantly muted; a downturn affecting the semiconductor cycle would likely impact the vast majority of positions simultaneously rather than isolating losses to specific sectors.
Furthermore, the allocation profile reveals a pronounced tilt toward growth factors and high market capitalization names, as evidenced by the substantial weightings assigned to industry leaders in design, manufacturing, and equipment. This factor exposure implies that the fund is positioned to capture upside potential from rapid innovation cycles but may also experience heightened volatility during periods of macroeconomic tightening or reduced demand for advanced computing infrastructure. The absence of significant holdings outside this narrow technological niche underscores a specialized approach designed purely for investors seeking direct exposure to the semiconductor value chain without broader sector hedging mechanisms.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-24 13:52:16.800984+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share SOXX's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of SOXX's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| ITOTiShares Core S&P Total U.S. Stock Market ETF | $80B | — | 25 | 91.0% |
| SMHVanEck Semiconductor ETF | $41B | — | 21 | 89.1% |
| ACWIiShares MSCI ACWI ETF | $28B | — | 23 | 88.9% |
| URTHiShares MSCI World ETF | $7B | — | 23 | 88.9% |
| SCHBSchwab U.S. Broad Market ETF | $37B | — | 23 | 88.8% |
91% of SOXX's portfolio by weight is also held by ITOT, which commands 4× more assets under management. When ITOT receives inflows, it mechanically buys these shared stocks — dragging SOXX's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofSOXX's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 79% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 84% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside SOXX collectively pay out 43% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 68% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietarySOXX is up 184.9% over the last 12 months. The underlying weighted earnings growth of its constituents is +56.4%. The remaining +128.4% of performance is driven by multiple expansion (P/E inflation) — prices rose faster than earnings grew.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 77% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of SOXX's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of SOXX's analyzed weight, 55% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 45% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 81% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
ELEVATEDSOXX's top holding NVDA at 8.3% is above the 8% elevated-concentration threshold. The effective number of stocks is 21 vs. the actual count of 32.
Effective # of Stocks = 1 / HHI (Herfindahl-Hirschman Index). Variance share approximated as w² / Σw². Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
SOXX has a Passive Crowding Score of 36/100. On average, 10.8% of the market capitalization of SOXX's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 52 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA Corp. Technology | 8.26% | 32.4x | 4/9 |
| 2 | AMD | Advanced Micro Devices, Inc. Technology | 7.72% | 172.6x | 7/9 |
| 3 | MU | Micron Technology, Inc. Technology | 6.97% | 45.9x | 7/9 |
| 4 | AVGO | Broadcom, Inc. Technology | 6.74% | 86.9x | 8/9 |
| 5 | AMAT | Applied Materials, Inc. Technology | 5.88% | 42.4x | 6/9 |
| 6 | NL0009538784 | NXP Semiconductors NV | 4.37% | 30.7x | 5/9 |
| 7 | LRCX | Lam Research Corp. Technology | 4.30% | 60.3x | 7/9 |
| 8 | KLAC | KLA Corp. Technology | 4.05% | 54.3x | 8/9 |
| 9 | TXN | Texas Instruments, Inc. Technology | 4.04% | 52.3x | 7/9 |
| 10 | ADI | Analog Devices, Inc. Technology | 4.01% | 61.8x | 8/9 |
| 11 | QCOM | QUALCOMM, Inc. Technology | 3.99% | 27.0x | 6/9 |
| 12 | 874039100 | Taiwan Semiconductor Manufacturing Co. Ltd. | 3.84% | — | — |
| 13 | MPWR | Monolithic Power Systems, Inc. Technology | 3.83% | 112.4x | 5/9 |
| 14 | 573874104 | Marvell Technology, Inc. | 3.73% | — | — |
| 15 | USN070592100 | ASML Holding NV | 3.72% | 53.8x | 8/9 |
Historical Holdings Snapshots
Browse how SOXX’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 75.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 8.26% | 7,764,192 | $1.4B |
| 2 | AMD | 7.72% | 6,317,547 | $1.4B |
| 3 | MU | 6.97% | 4,279,371 | $1.2B |
| 4 | AVGO | 6.74% | 3,410,406 | $1.2B |
| 5 | AMAT | 5.88% | 4,011,861 | $1.0B |
| 6 | NL0009538784 | 4.37% | 3,524,835 | $765.1M |
| 7 | LRCX | 4.30% | 4,404,662 | $754.0M |
| 8 | KLAC | 4.05% | 584,558 | $710.3M |
| 9 | TXN | 4.04% | 4,083,488 | $708.4M |
| 10 | ADI | 4.01% | 2,589,636 | $702.3M |
| 11 | QCOM | 3.99% | 4,087,861 | $699.2M |
| 12 | 874039100 | 3.84% | 2,216,816 | $673.7M |
| 13 | MPWR | 3.83% | 740,303 | $671.0M |
| 14 | 573874104 | 3.73% | 7,685,997 | $653.2M |
| 15 | USN070592100 | 3.72% | 609,649 | $652.2M |
2026-05-23
15 holdings · 75.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 8.26% | 7,764,192 | $1.4B |
| 2 | AMD | 7.72% | 6,317,547 | $1.4B |
| 3 | MU | 6.97% | 4,279,371 | $1.2B |
| 4 | AVGO | 6.74% | 3,410,406 | $1.2B |
| 5 | AMAT | 5.88% | 4,011,861 | $1.0B |
| 6 | NL0009538784 | 4.37% | 3,524,835 | $765.1M |
| 7 | LRCX | 4.30% | 4,404,662 | $754.0M |
| 8 | KLAC | 4.05% | 584,558 | $710.3M |
| 9 | TXN | 4.04% | 4,083,488 | $708.4M |
| 10 | ADI | 4.01% | 2,589,636 | $702.3M |
| 11 | QCOM | 3.99% | 4,087,861 | $699.2M |
| 12 | 874039100 | 3.84% | 2,216,816 | $673.7M |
| 13 | MPWR | 3.83% | 740,303 | $671.0M |
| 14 | 573874104 | 3.73% | 7,685,997 | $653.2M |
| 15 | USN070592100 | 3.72% | 609,649 | $652.2M |
2026-05-22
15 holdings · 75.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 8.26% | 7,764,192 | $1.4B |
| 2 | AMD | 7.72% | 6,317,547 | $1.4B |
| 3 | MU | 6.97% | 4,279,371 | $1.2B |
| 4 | AVGO | 6.74% | 3,410,406 | $1.2B |
| 5 | AMAT | 5.88% | 4,011,861 | $1.0B |
| 6 | NL0009538784 | 4.37% | 3,524,835 | $765.1M |
| 7 | LRCX | 4.30% | 4,404,662 | $754.0M |
| 8 | KLAC | 4.05% | 584,558 | $710.3M |
| 9 | TXN | 4.04% | 4,083,488 | $708.4M |
| 10 | ADI | 4.01% | 2,589,636 | $702.3M |
| 11 | QCOM | 3.99% | 4,087,861 | $699.2M |
| 12 | 874039100 | 3.84% | 2,216,816 | $673.7M |
| 13 | MPWR | 3.83% | 740,303 | $671.0M |
| 14 | 573874104 | 3.73% | 7,685,997 | $653.2M |
| 15 | USN070592100 | 3.72% | 609,649 | $652.2M |
2026-05-21
15 holdings · 75.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 8.26% | 7,764,192 | $1.4B |
| 2 | AMD | 7.72% | 6,317,547 | $1.4B |
| 3 | MU | 6.97% | 4,279,371 | $1.2B |
| 4 | AVGO | 6.74% | 3,410,406 | $1.2B |
| 5 | AMAT | 5.88% | 4,011,861 | $1.0B |
| 6 | NL0009538784 | 4.37% | 3,524,835 | $765.1M |
| 7 | LRCX | 4.30% | 4,404,662 | $754.0M |
| 8 | KLAC | 4.05% | 584,558 | $710.3M |
| 9 | TXN | 4.04% | 4,083,488 | $708.4M |
| 10 | ADI | 4.01% | 2,589,636 | $702.3M |
| 11 | QCOM | 3.99% | 4,087,861 | $699.2M |
| 12 | 874039100 | 3.84% | 2,216,816 | $673.7M |
| 13 | MPWR | 3.83% | 740,303 | $671.0M |
| 14 | 573874104 | 3.73% | 7,685,997 | $653.2M |
| 15 | USN070592100 | 3.72% | 609,649 | $652.2M |
2026-05-20
15 holdings · 75.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 8.26% | 7,764,192 | $1.4B |
| 2 | AMD | 7.72% | 6,317,547 | $1.4B |
| 3 | MU | 6.97% | 4,279,371 | $1.2B |
| 4 | AVGO | 6.74% | 3,410,406 | $1.2B |
| 5 | AMAT | 5.88% | 4,011,861 | $1.0B |
| 6 | NL0009538784 | 4.37% | 3,524,835 | $765.1M |
| 7 | LRCX | 4.30% | 4,404,662 | $754.0M |
| 8 | KLAC | 4.05% | 584,558 | $710.3M |
| 9 | TXN | 4.04% | 4,083,488 | $708.4M |
| 10 | ADI | 4.01% | 2,589,636 | $702.3M |
| 11 | QCOM | 3.99% | 4,087,861 | $699.2M |
| 12 | 874039100 | 3.84% | 2,216,816 | $673.7M |
| 13 | MPWR | 3.83% | 740,303 | $671.0M |
| 14 | 573874104 | 3.73% | 7,685,997 | $653.2M |
| 15 | USN070592100 | 3.72% | 609,649 | $652.2M |
2026-05-19
15 holdings · 75.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 8.26% | 7,764,192 | $1.4B |
| 2 | AMD | 7.72% | 6,317,547 | $1.4B |
| 3 | MU | 6.97% | 4,279,371 | $1.2B |
| 4 | AVGO | 6.74% | 3,410,406 | $1.2B |
| 5 | AMAT | 5.88% | 4,011,861 | $1.0B |
| 6 | NL0009538784 | 4.37% | 3,524,835 | $765.1M |
| 7 | LRCX | 4.30% | 4,404,662 | $754.0M |
| 8 | KLAC | 4.05% | 584,558 | $710.3M |
| 9 | TXN | 4.04% | 4,083,488 | $708.4M |
| 10 | ADI | 4.01% | 2,589,636 | $702.3M |
| 11 | QCOM | 3.99% | 4,087,861 | $699.2M |
| 12 | 874039100 | 3.84% | 2,216,816 | $673.7M |
| 13 | MPWR | 3.83% | 740,303 | $671.0M |
| 14 | 573874104 | 3.73% | 7,685,997 | $653.2M |
| 15 | USN070592100 | 3.72% | 609,649 | $652.2M |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Fama-French 5-Factor Exposure
Academic factor model decomposition — what's really driving this ETF's returns.
Fama-French 5-Factor Model. Data: Kenneth French Data Library. Regression over 3 years of daily returns.
Price Chart with Moving Averages
What Drove SOXX Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe current price of SOXX is below its 50-day moving average but above the 200-day moving average, suggesting a potential consolidation phase within an ongoing upward trend. With an RSI of 43.5, the security appears to be in a neutral territory, neither overbought nor oversold, indicating balanced near-term momentum.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How SOXX’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
AUM & Capital Flow Tracker
Estimated assets under management derived from SEC filings and daily price movements — tracks how the fund's value evolves over time.
Estimated AUM derived from the latest SEC N-PORT filing TNA ($17.89B) scaled by daily price changes. Filing snapshots update when new regulatory filings are published (quarterly for most funds, daily for ARK).
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.