The VanEck Semiconductor ETF (SMH), for instance, was up 24.6% YTD, while the iShares Semiconductor ETF (SOXX) was up 23.6% YTD. Overall, SMH has an average weighted market cap of $225 billion, and SOXX has an average weighted market cap of $164 billion. Within large-cap technology, semiconductor stocks have done particularly well as advances in ChatGPT and other artificial intelligence continue to be one of the only bright spots among a banking collapse, interest rate uncertainty, inflation, and large-scale layoffs.