VanEck Vectors Semiconductor ETF (SMH US) – Investment PropositionVanEck Vectors Semiconductor ETF (SMH) delivers focused exposure to U.S.-listed semiconductor leaders across design, manufacturing, foundries and equipment. The strategy concentrates in established, highly liquid names to capture the industry’s long-term growth drivers in computing, autos, cloud, mobile and AI, while acknowledging the group’s cyclical sensitivity to inventories, capital spending and end-market demand. Portfolio characteristic ...