$SMH

Shares of Lattice Semiconductor, Amkor, Himax, Teradyne, and Kulicke and Soffa fell 1.9% to 3.3% due to concerns about Chinese chip advancements and potential labor strikes in Taiwan. According to TipRanks, CXMT announced progress on a next-gen DRAM design, while Reuters reported potential strikes at Micron's Taiwan sites. The iShares Semiconductor ETF (SMH) declined 1% in premarket trading.

Michael Burry has shifted his bearish bets to Nasdaq-100 and VanEck Semiconductor ETF (SMH) puts, expecting a market top within 9 months. His Nasdaq-100 puts expire in April 2027, while SMH puts expire in June 2027. Burry also holds puts on Oracle (ORCL) and Palantir (PLTR). SMH has surged 67% year to date, with retail sentiment remaining bearish on the ETF.

The VanEck Semiconductor ETF (SMH) rose 69% in 2026, outperforming Nvidia (NVDA), its top holding, which gained 23%. Micron (MU), Intel (INTC), and AMD (AMD) contributed significantly to the fund's gains. The fund's performance reflects broader semiconductor industry trends, with Nvidia's growth already priced into its valuation.

VanEck Semiconductor ETF (SMH) returned 113.17% over the 12 months through July 10, 2026, versus Nvidia (NVDA) up 28.72%. YTD through the same date, SMH gained 69.67% and NVDA rose 13.25%. SMH rose from $360.13 to $611.03; NVDA from $186.28 to $210.96, amid AI infrastructure demand. SMH expense ratio is 0.35%.

For the week ending May 22, US-listed ETFs saw $25.2 billion of inflows, lifting year-to-date inflows to about $760 billion. Fixed income led with $13.2 billion, followed by US equity ETFs at $7.9 billion. VOO added $4.0 billion, SGOV $2.3 billion, and QQQ $2.1 billion. ARKK led outflows with $5.7 billion; IBIT lost $1.1 billion.