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Which ETFs have the highest NVIDIA weighting?

AlphaOS investment intelligence · Research and education only — not investment advice · Updated Jul 5, 2026

The ETFs with the highest NVIDIA weighting are primarily those focused on semiconductor, technology, and artificial intelligence sectors, with the VanEck Semiconductor ETF (SMH) and the iShares Semiconductor ETF (SOXX) consistently featuring NVIDIA as a top holding, often exceeding 15% of their respective portfolios. Other specialized technology and AI-focused ETFs also exhibit significant NVIDIA allocations due to the company's dominant position in GPU technology essential for AI and data centers.

Key Takeaways

  • VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX) are among the ETFs with the highest NVIDIA weightings.
  • NVIDIA's weighting in these ETFs frequently surpasses 15% due to its market capitalization and sector dominance.
  • Specialized technology and artificial intelligence ETFs also allocate substantial portions of their portfolios to NVIDIA.
  • NVIDIA's strong performance and critical role in AI infrastructure contribute to its high weighting in relevant ETFs.
  • ETFs with high NVIDIA exposure offer concentrated bets on the semiconductor and AI growth trends.
  • The concentration in NVIDIA can lead to higher volatility for these specific ETFs.
  • Active management and thematic ETFs may have even higher, albeit more dynamic, NVIDIA allocations.

Evidence & Analysis

  • As of early 2024, NVIDIA constituted approximately 18-20% of the VanEck Semiconductor ETF (SMH).
  • The iShares Semiconductor ETF (SOXX) has consistently held NVIDIA as one of its top two positions, often above 10-12%.
  • NVIDIA's market capitalization growth has naturally increased its weighting in market-cap-weighted semiconductor and technology ETFs.
  • The company's dominant position in AI accelerators makes it a core holding for AI-themed investment vehicles.

Key Companies

NVDA

NVIDIA Corporation

Primary beneficiary — GPU market leader with ~80% data center share

SMH

VanEck Semiconductor ETF

ETF with consistently high NVIDIA weighting

SOXX

iShares Semiconductor ETF

ETF with consistently high NVIDIA weighting

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