The largest Semiconductor focused ETF, SOXX (iShares PHLX SOX Semiconductor Sector, Expense Ratio 0.47%) has fallen on hard times recently as momentum through mid-July has all but evaporated.
On the whole, earnings season has not been kind to Semis and particularly SOXX, with names with substantial weightings such as TXN (7.67%), QCOM (7.42%), and AMAT (6.30%) for example sinking like stones.
The top two holdings of SOXX, INTC (8.52%) and MU (8.10%) have held their own recently and one wonders where this sector ETF would be if either stock decided to fold into the recent post earnings selling pressure here.
SOXX has seen about $60 million leave the fund via redemption activity in recent days, leaving an asset base of about $495 million.
We also watch SMH (Market Vectors Semiconductor ETF, Expense Ratio 0.35%) and XSD (SPDR S&P Semiconductor ETF, Expense Ratio 0.35%) in the space as potential barometers, yet neither fund is gigantic in terms of asset size ($343 million and $164 million in AUM respectively).
The Bull/Bear leveraged trading alternatives in the Semi space can be useful tools as well, particularly when navigating around recent volatility in the sector, so we typically monitor SOXL (Direxion Daily Semiconductor Bull 3X, Expense Ratio 0.95%), USD (ProShares Ultra Semiconductors, Expense Ratio 0.95%), SOXS (Direxion Daily Semiconductor Bear 3X, Expense Ratio 0.95%), and SSG (ProShares UltraShort Semiconductors, Expense
Ratio 0.95%) very closely as well.