VanEck semiconductor ETF sees $25B in inflows despite 20% decline

Here’s a number that tells you everything about where investor conviction sits right now: semiconductor ETFs absorbed roughly $24.7 billion in net inflows in under a month, even as the funds themselves fell anywhere from 15% to 51%. That is not a typo. Investors were buying more as prices dropped, not less. The flood of capital came after a market peak on June 22, 2026, and spread across four major funds: the Roundhill Memory ETF (DRAM) pulled in $8.8 billion, the iShares Semiconductor ETF (SOXX) took in $8.5 billion, the Direxion Daily Semiconductor Bull 3X ETF (SOXL) attracted $5.1 billion, and the VanEck Semiconductor ETF (SMH) added $2.3 billion. For context, the full-year 2026 tally for semiconductor ETF inflows has now reached approximately $46 billion, which is both the largest annual haul on record and more than double the cumulative inflows recorded across the entire 2017 to 2025 period. The dip buyers showed up in force As of late July 2026, SOXX had fallen 18% from its peak, yet investors added $7.2 billion. DRAM dropped 30.8% and still drew $10.7 billion in fresh capital. SMH declined 15.3% and collected $2 billion. SOXL, a leveraged product that amplifies daily moves b...