Semiconductor ETFs Surge on First US CHIPS Act Grant

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Semiconductor ETFs Surge on First US CHIPS Act Grant

zacks2023-12-12

The U.S. semiconductor space rallied following the announcement of the initial grant under the CHIPS and Science Act of 2022 by the White House, signaling a potential growth opportunity for investors....

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foold
·01-19
I'll I'll jto my LG ok TT kki we 6my l isjg k
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BAE Systems is set to receive $35 million for upgrading its New Hampshire factory, underscoring the government's focus on chips pivotal for national security, including those in F-35 jets.The PHLX Semiconductor Sector Index jumped 3.4% in the Dec 11 trading session to hit the 2023 high. The smooth trading was also felt in the ETF space. First Trust NASDAQ Semiconductor ETF (FTXL Quick QuoteFTXL  -  Free Report)    , Invesco PHLX Semiconductor ETF (SOXQ Quick QuoteSOXQ  -  Free Report)    , iShares Semiconductor ETF (SOXX Quick QuoteSOXX  -  Free Report)    , Strive U.S. Semiconductor ETF (SHOC Quick QuoteSHOC  -  Free Report)     and Invesco Dynamic Semiconductors ETF (PSI Quick QuotePSI  -  Free Report)     gained more than 3% each (read: Semiconductors Lead Decade's Top Gainers: 3 ETFs Up At Least 550%).The White House's move to grant BAE Systems (BAESY) $35 million for modernizing its Nashua factory marks a significant step in revitalizing U.S. semiconductor manufacturing. This grant, aimed at quadrupling chip production for national security needs, reflects a broader government strategy to bolster domestic semiconductor capacity.BAE CEO Tom Arseneault plans to use the funds to upgrade the Microelectronics Center. This move aligns with the goals of the CHIPS and Science Act, aimed at increasing capacity for national defense programs, expanding the technical workforce and enhancing the domestic supply chain.The United States has experienced a decline in semiconductor production, dropping from nearly 40% of global output to 10%, highlighting the strategic necessity and potential profitability of investing in this sector. The government's substantial investment, evidenced by the CHIPS and Science Act's provision of $52 billion for semiconductor research and manufacturing, signals strong support for the industry's growth.Additionally, the Department of Commerce's plan to distribute additional billions for domestic chip production further strengthens the investment case for the semiconductor sector. The anticipated increase in domestic manufacturing capacity could lead to greater stability and reduced reliance on international supply chains, potentially enhancing the profitability and resilience of U.S. semiconductor firms.Investors should note that semiconductor ETFs are experiencing a strong rally this year. SOXX and SOXL have gained more than 50%, while FTXL, SHOC and PSI are up 39.1%, 45.2% and 32.8%, respectively.  First Trust Nasdaq Semiconductor ETF (FTXL Quick QuoteFTXL  -  Free Report)    First Trust Nasdaq Semiconductor ETF offers exposure to U.S. companies within the semiconductor industry by tracking the Nasdaq US Smart Semiconductor Index. It holds 32 stocks in its basket, with a moderate concentration on the top five firms (read: Missed the Rally? Buy 5 Top-Ranked ETFs).First Trust Nasdaq Semiconductor ETF has accumulated $1.1 billion in AUM and trades in average trading volume of 65,000 shares. It charges 60 bps in annual fees and has a Zacks ETF Rank #1 (Strong Buy).Invesco PHLX Semiconductor ETF (SOXQ Quick QuoteSOXQ  -  Free Report)    Invesco PHLX Semiconductor ETF tracks the PHLX Semiconductor Sector Index. It provides exposure to the 30 largest U.S.-listed securities of companies engaged in the semiconductor business and has a moderate concentration on the top five firms.Invesco PHLX Semiconductor ETF has accumulated $162 million in its asset base. It charges 19 bps in annual fees and trades in an average daily volume of 60,000 shares. SOXQ has a Zacks ETF Rank #1.iShares Semiconductor ETF (SOXX Quick QuoteSOXX  -  Free Report)    iShares Semiconductor ETF follows the NYSE Semiconductor Index and offers exposure to U.S. companies that design, manufacture and distribute semiconductors. It holds 30 securities in its basket, with a moderate concentration on the top five firms.iShares Semiconductor ETF has amassed $9.3 billion in its asset base and trades in a volume of about 824,000 shares a day. The product charges a fee of 35 bps a year from investors and has a Zacks ETF Rank #1 (read: Inside the Recent Surge in Semiconductor ETFs).Strive U.S. Semiconductor ETF (SHOC Quick QuoteSHOC  -  Free Report)    Strive U.S. Semiconductor ETF seeks broad market exposure to the U.S. semiconductor sector. It follows the Solactive United States Semiconductors 30 Capped Index and holds 31 stocks in its basket with moderate concentration on the top five firms.Strive U.S. Semiconductor ETF has AUM of $39.1 million and charges 40 bps in annual fees. It trades in a volume of 7,000 shares per day on average and has a Zacks ETF Rank #2 (Buy).Invesco Dynamic Semiconductors ETF (PSI Quick QuotePSI  -  Free Report)    Invesco Dynamic Semiconductors ETF tracks the Dynamic Semiconductor Intellidex Index, holding a well-diversified portfolio of 32 securities.Invesco Dynamic Semiconductors ETF has AUM of $610 million and sees a moderate average daily volume of 48,000 shares. Expense ratio is 0.57%. PSI has a Zacks ETF Rank #1.Disclaimer: This article has been written with the assistance of Generative AI. 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