The AI Build-Out: Four Strategies for Investors
August 12, 2026
11:00 AM US ET
AI is not just a software story; it requires physical infrastructure, advanced chips, autonomous systems, and next-generation networks to function at scale. Join Nick Frasse and Tyler Schweickert as they discuss four targeted strategies designed to give investors exposure to the companies building that foundation, from the chip level up, across semiconductors, robotics, cloud infrastructure, and space technology.
- Why the AI opportunity extends far beyond software and mega-cap technology names
- How semiconductors, robotics, cloud infrastructure, and space technology each capture a distinct layer of the AI build-out
- How to use targeted, stack-based strategies to build a more complete expression of the AI theme
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Important Disclosures
This content is intended for educational purposes only. Please note that the availability of the products mentioned may vary by country, and it is recommended to check with your local stock exchange.
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third party data. The information herein represents the opinion of the speaker(s), but not necessarily those of VanEck or its other employees.
VanEck Semiconductor ETF (SMH) Performance
| Quarter End As of 06/30/2026 | 1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE (12/20/11) |
| SMH (NAV) | 9.66 | 71.30 | 82.30 | 136.07 | 63.45 | 38.86 | 38.12 | 31.17 |
| SMH (Market Price) | 9.51 | 71.07 | 82.13 | 135.90 | 63.44 | 38.81 | 38.10 | 31.14 |
| MVIS US Listed Semiconductor 25 Index | 9.69 | 71.48 | 82.59 | 136.75 | 63.81 | 39.11 | 38.25 | 31.22 |
*Returns less than one year are not annualized.
The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.
SMH Gross Expense Ratio – 0.35%
Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Certain indices may take into account withholding taxes. Investors cannot invest directly in the Index. Returns for actual Fund investors may differ from what is shown because of differences in timing, the amount invested and fees and expenses. Index returns assume that dividends have been reinvested.
MarketVector US Listed Semiconductor 25 Index: An index intended to track the overall performance of companies involved in semiconductor production and equipment.
Nasdaq-100 Index (NDX): An index designed to measure the performance of 100 of the largest Nasdaq-listed non-financial companies. The Index uses a modified market-capitalization weighting methodology.
Digital asset investments are subject to significant risk and may not be suitable for all investors. Digital asset prices are highly volatile, and the value of digital assets, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss of your entire principal investment.
Bitcoin (BTC) is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries.
There are inherent risks with equity investing. These risks include, but are not limited to stock market, manager, or investment style. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices.
Fund holdings will vary and are subject to change. For a complete list of fund holdings, please visit vaneck.com.
ETFs Risk Disclosures
An investment in the VanEck Onchain Economy ETF (NODE) may be subject to risks which include, among others, risks related to investing in digital transformation companies, digital asset instruments, commodities and commodity-linked instruments, subsidiary investment, commodity regulatory (with respect to investments in the subsidiary), tax (with respect to investments in the subsidiary), gap, liquidity, derivatives, regulatory, non-diversified, small- and medium-capitalization companies, depositary receipts, foreign securities, emerging market issuers, high portfolio turnover, market, operational, active management, authorized participant concentration, no guarantee of active trading market, trading issues, fund shares trading, premium/discount risk and liquidity of fund shares, industry concentration, cash transactions, underlying investment vehicle, and affiliated investment vehicle risks, all of which may adversely affect the fund. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks. Small- and medium-capitalization companies may be subject to elevated risks
An investment in the VanEck Semiconductor ETF (SMH) and VanEck Fabless Semiconductor ETF (SMHX) may be subject to risks which include, among others, risks related to investing in the semiconductor industry, special risk considerations of investing in Taiwanese issuers, equity securities, small-, medium and large-capitalization companies, foreign securities, emerging market issuers, foreign currency, depositary receipts, issuer-specific changes, market, operational, index tracking, authorized participant concentration, new fund, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount and liquidity of fund shares, non-diversified, and index-related concentration risks, all of which may adversely affect the Fund. Small, medium and large-capitalization companies may be subject to elevated risks. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks.
An investment in the VanEck China Semiconductor ETF (SMHC) may be subject to risks which include, among others, risks related to investing in the semiconductor industry, information technology sector, equity securities, depositary receipts, foreign securities, foreign currency, special risk considerations of investing in China issuers, special risk considerations of investing in Chinese-issued A-Shares, Stock Connect, emerging market issuers, PRC tax, medium- and large capitalization companies, cash transactions, market, operational, index tracking, authorized participant concentration, new fund, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount, liquidity of fund shares, non-diversified, index-related concentration, and issuer-specific changes risks, all of which may adversely affect the Fund. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks. Medium- and large-capitalization companies may be subject to elevated risks. Investments in Chinese issuers may entail additional risks that include, among others, lack of liquidity and price volatility, currency devaluations and exchange rate fluctuations, intervention by the Chinese government, nationalization or expropriation, limitations on the use of brokers, and trade limitations.
An investment in the VanEck Data Center Supply Chain ETF (RACK) may be subject to risks which include, but are not limited to, risks related to investments in Data Center Supply Chain Companies, communication services sector, industrials sector, information technology sector, equity securities, depositary receipts, REITs, small-, medium-, and large-capitalization companies, market, operational, index tracking, authorized participant concentration, new fund, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount, liquidity of fund shares, non-diversified, index-related concentration and issuer-specific changes risks, all of which may adversely affect the Fund. Small-, medium-, and large-capitalization companies may be subject to elevated risks.
An investment in the VanEck Robotics ETF (IBOT) may be subject to risks which include, among others, risks related to investing in robotics companies, information technology sector, industrials sector, equity securities, medium-capitalization companies, special risk considerations of investing in Japanese and European issuers, foreign securities, semiconductor industry, depositary receipts, market, operational, index tracking, authorized participant concentration, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount and liquidity of fund shares, non-diversified and index-related concentration risks, all of which may adversely affect the Fund. Medium-capitalization companies may be subject to elevated risks.
An investment in the VanEck Space ETF (WARP) may be subject to risks which include, but are not limited to, risks related to investments in Space Companies, foreign securities, foreign currency, depositary receipts, communication services sector, industrials sector, small-, medium-, and large-capitalization companies, equity securities, market, operational, index tracking, authorized participant concentration, new fund, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount risk and liquidity of fund shares, non-diversified and index-related concentration risks, all of which may adversely affect the Fund. Foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks. Small- and medium-capitalization companies may be subject to elevated risks.
For other important disclosures please read more.
Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and expenses of a Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
© Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.
Important Disclosures
This content is intended for educational purposes only. Please note that the availability of the products mentioned may vary by country, and it is recommended to check with your local stock exchange.
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third party data. The information herein represents the opinion of the speaker(s), but not necessarily those of VanEck or its other employees.
VanEck Semiconductor ETF (SMH) Performance
| Quarter End As of 06/30/2026 | 1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE (12/20/11) |
| SMH (NAV) | 9.66 | 71.30 | 82.30 | 136.07 | 63.45 | 38.86 | 38.12 | 31.17 |
| SMH (Market Price) | 9.51 | 71.07 | 82.13 | 135.90 | 63.44 | 38.81 | 38.10 | 31.14 |
| MVIS US Listed Semiconductor 25 Index | 9.69 | 71.48 | 82.59 | 136.75 | 63.81 | 39.11 | 38.25 | 31.22 |
*Returns less than one year are not annualized.
The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.
SMH Gross Expense Ratio – 0.35%
Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Certain indices may take into account withholding taxes. Investors cannot invest directly in the Index. Returns for actual Fund investors may differ from what is shown because of differences in timing, the amount invested and fees and expenses. Index returns assume that dividends have been reinvested.
MarketVector US Listed Semiconductor 25 Index: An index intended to track the overall performance of companies involved in semiconductor production and equipment.
Nasdaq-100 Index (NDX): An index designed to measure the performance of 100 of the largest Nasdaq-listed non-financial companies. The Index uses a modified market-capitalization weighting methodology.
Digital asset investments are subject to significant risk and may not be suitable for all investors. Digital asset prices are highly volatile, and the value of digital assets, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss of your entire principal investment.
Bitcoin (BTC) is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries.
There are inherent risks with equity investing. These risks include, but are not limited to stock market, manager, or investment style. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices.
Fund holdings will vary and are subject to change. For a complete list of fund holdings, please visit vaneck.com.
ETFs Risk Disclosures
An investment in the VanEck Onchain Economy ETF (NODE) may be subject to risks which include, among others, risks related to investing in digital transformation companies, digital asset instruments, commodities and commodity-linked instruments, subsidiary investment, commodity regulatory (with respect to investments in the subsidiary), tax (with respect to investments in the subsidiary), gap, liquidity, derivatives, regulatory, non-diversified, small- and medium-capitalization companies, depositary receipts, foreign securities, emerging market issuers, high portfolio turnover, market, operational, active management, authorized participant concentration, no guarantee of active trading market, trading issues, fund shares trading, premium/discount risk and liquidity of fund shares, industry concentration, cash transactions, underlying investment vehicle, and affiliated investment vehicle risks, all of which may adversely affect the fund. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks. Small- and medium-capitalization companies may be subject to elevated risks
An investment in the VanEck Semiconductor ETF (SMH) and VanEck Fabless Semiconductor ETF (SMHX) may be subject to risks which include, among others, risks related to investing in the semiconductor industry, special risk considerations of investing in Taiwanese issuers, equity securities, small-, medium and large-capitalization companies, foreign securities, emerging market issuers, foreign currency, depositary receipts, issuer-specific changes, market, operational, index tracking, authorized participant concentration, new fund, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount and liquidity of fund shares, non-diversified, and index-related concentration risks, all of which may adversely affect the Fund. Small, medium and large-capitalization companies may be subject to elevated risks. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks.
An investment in the VanEck China Semiconductor ETF (SMHC) may be subject to risks which include, among others, risks related to investing in the semiconductor industry, information technology sector, equity securities, depositary receipts, foreign securities, foreign currency, special risk considerations of investing in China issuers, special risk considerations of investing in Chinese-issued A-Shares, Stock Connect, emerging market issuers, PRC tax, medium- and large capitalization companies, cash transactions, market, operational, index tracking, authorized participant concentration, new fund, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount, liquidity of fund shares, non-diversified, index-related concentration, and issuer-specific changes risks, all of which may adversely affect the Fund. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks. Medium- and large-capitalization companies may be subject to elevated risks. Investments in Chinese issuers may entail additional risks that include, among others, lack of liquidity and price volatility, currency devaluations and exchange rate fluctuations, intervention by the Chinese government, nationalization or expropriation, limitations on the use of brokers, and trade limitations.
An investment in the VanEck Data Center Supply Chain ETF (RACK) may be subject to risks which include, but are not limited to, risks related to investments in Data Center Supply Chain Companies, communication services sector, industrials sector, information technology sector, equity securities, depositary receipts, REITs, small-, medium-, and large-capitalization companies, market, operational, index tracking, authorized participant concentration, new fund, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount, liquidity of fund shares, non-diversified, index-related concentration and issuer-specific changes risks, all of which may adversely affect the Fund. Small-, medium-, and large-capitalization companies may be subject to elevated risks.
An investment in the VanEck Robotics ETF (IBOT) may be subject to risks which include, among others, risks related to investing in robotics companies, information technology sector, industrials sector, equity securities, medium-capitalization companies, special risk considerations of investing in Japanese and European issuers, foreign securities, semiconductor industry, depositary receipts, market, operational, index tracking, authorized participant concentration, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount and liquidity of fund shares, non-diversified and index-related concentration risks, all of which may adversely affect the Fund. Medium-capitalization companies may be subject to elevated risks.
An investment in the VanEck Space ETF (WARP) may be subject to risks which include, but are not limited to, risks related to investments in Space Companies, foreign securities, foreign currency, depositary receipts, communication services sector, industrials sector, small-, medium-, and large-capitalization companies, equity securities, market, operational, index tracking, authorized participant concentration, new fund, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount risk and liquidity of fund shares, non-diversified and index-related concentration risks, all of which may adversely affect the Fund. Foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks. Small- and medium-capitalization companies may be subject to elevated risks.
For other important disclosures please read more.
Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and expenses of a Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
© Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.