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VanEck has launched the VanEck Fabless Semiconductor ETF (SMHX), targeting companies that design chips but outsource manufacturing. This ETF complements VanEck's existing $23 billion Semiconductor ETF (SMH). SMHX focuses on fabless semiconductor companies that allocate more resources to innovation and R&D, avoiding high manufacturing costs.
SMHX tracks the MarketVector™ US Listed Fabless Semiconductor Index (MVSMHX), including companies with at least 50% of revenues from fabless semiconductor business. The fund aims to capitalize on the CHIPS Act and increasing demand for semiconductors in AI and other technologies. VanEck positions SMHX as an opportunity for investors focused on innovation and R&D in the semiconductor industry.
VanEck announces a 2-for-1 forward stock split for the VanEck Semiconductor ETF (NASDAQ: SMH), effective at market open on May 4, 2023. Investors holding shares as of the close on May 3, 2023 will have their shares split accordingly. The ETF will maintain the same CUSIP and ticker symbol, with new shares trading at a split-adjusted price. This action is part of VanEck's strategy to enhance investor benefits based on factors like market price and trading volume. Importantly, forward stock splits do not affect the market value of an investor's holdings, nor do they incur tax consequences. VanEck manages approximately $76.4 billion in assets across various investment vehicles, focusing on both active and passive strategies.
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