New York, July 7, 2026, 12:06 (EDT)
- Invesco Semiconductors ETF was the top performer among major chip ETFs in 2026 through July 6, gaining 103.6%. By late Tuesday morning, it was down roughly 7.8%.
- VanEck Semiconductor ETF NASDAQ:SMH took the smallest loss out of the group. The fund, which has the biggest Nvidia exposure, fell around 5.0%.
- Memory and equipment names took a bigger hit than Nvidia Corp NASDAQ:NVDA in the selloff, shifting the risk profile for ETF buyers.
Chip ETFs traded lower late Tuesday morning in New York, with the hardest fall coming from this year’s top performer, not the ETF with the most Nvidia. Invesco Semiconductors ETF slid roughly 7.8% to $147.08 near 11:50 a.m. EDT, according to latest pricing. VanEck Semiconductor ETF lost around 5.0%.
Cross-ETF numbers from Benzinga’s July 6 holdings check and Tuesday’s late-morning pricing showed the reversal: Benzinga
| ETF | 2026 return through July 6 | Nvidia weight | Top-10 weight | July 7 late-morning move |
|---|---|---|---|---|
| Invesco Semiconductors ETF NYSEARCA:PSI | up 103.6% | 4.29% | 49.93% | down 7.8% |
| iShares Semiconductor ETF NASDAQ:SOXX | up 91.7% | 7.50% | 60.69% | down 6.6% |
| Invesco PHLX Semiconductor ETF NASDAQ:SOXQ | up 80.45% | 10.89% | 60.88% | down 6.0% |
| SPDR S&P Semiconductor ETF (NYSEARCA:XSD) | up 78.33% | about 2% | 28.18% | down 6.8% |
| VanEck Semiconductor ETF NASDAQ:SMH | up 66.2% | 18.41% | 69.49% | down 5.0% |
The numbers go against the standard Nvidia story. Nvidia slipped less than 1% at 11:50 a.m. EDT. Micron Technology Inc. NASDAQ:MU dropped about 7.3%. Advanced Micro Devices Inc. NASDAQ:AMD was off 7.4%. Intel Corp. NASDAQ:INTC lost 10.9%.
The Philadelphia SE Semiconductor index slid 5.5% to its lowest in four weeks, Reuters said earlier. The Nasdaq Composite was off 1.02% at 09:58 a.m. ET. Samsung Electronics Co Ltd KRX:005930 dropped in Seoul trading, even though its second-quarter operating profit was up 19 times. Michael Field, chief equity market strategist at Morningstar Inc. NASDAQ:MORN, told Reuters that Samsung’s results were “fundamentally good,” but added that when sentiment turned against Samsung, “negativity extends across markets.” Reuters
ETF investors have a reason to watch here, since the 2026 leaders were heavy on memory and chip-equipment stocks. Benzinga reported Micron surged about 253% through July 6, while Applied Materials Inc. NASDAQ:AMAT gained around 135%, Lam Research Corp. NASDAQ:LRCX about 110%, and KLA Corp. NASDAQ:KLAC roughly 96%. Nvidia was up just about 5%.
Bank of America’s Vivek Arya pushed back on the recent selling in a note out July 6, according to Benzinga. Arya expects global cloud and AI infrastructure spending to hit $1.5 trillion by 2027. “History suggests periods of consolidation are often followed by renewed momentum,” he wrote. Arya called memory a “strategic AI enabler” and kept Micron as his top pick, sticking with his $1,550 price target, Benzinga reported. Benzinga
Micron put some numbers behind its bull story after announcing a contract with Ford Motor Co NYSE:F on Monday, locking in a long-term deal to supply memory and storage for future vehicles. It’s one of 16 customer agreements Micron highlighted in its fiscal Q3 call. CEO Sanjay Mehrotra said cars need more advanced memory as they get “more intelligent and data-intensive.” Micron Technology
Micron’s investor page took a similar approach after third-quarter numbers. CEO Sanjay Mehrotra said the quarter and its Q4 outlook pointed to what he called the “strategic value of memory in the AI era.” He said longer-term customer deals should make Micron’s financials steadier. Micron Technology
A July 1 comparison in The Motley Fool looked at iShares U.S. Technology ETF (NYSEARCA:IYW) and found the chip ETF trade comes with more risk than buying a broad tech fund. SOXX held 30 stocks, compared to IYW’s 148, and posted a five-year monthly beta of 2.26, while IYW’s was 1.43.
| Metric | iShares Semiconductor ETF NASDAQ:SOXX | iShares U.S. Technology ETF (NYSEARCA:IYW) |
|---|---|---|
| Holdings | 30 | 148 |
| Expense ratio | 0.34% | 0.38% |
| 1-year return as of June 30 | 158% | 44% |
| 5-year monthly beta | 2.26 | 1.43 |
| 5-year max drawdown | -45.8% | -39.4% |
| AUM as of June 30 | $38 billion | $25 billion |
Investors saw Tuesday that having less Nvidia exposure didn’t shield PSI when sellers hit the memory names, the equipment makers, and smaller chip stocks. SMH actually had the biggest Nvidia weight and a heavy top-10 focus, but dropped less than the top 2026 group.
Related articles: ETFs
