ETFs with heavy weightings in Taiwan Semi catch a ride higher
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Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) have soared on Thursday morning after the world’s largest contract chipmaker delivered strong earnings, which in turn pushed many exchange-traded funds higher as TSM is popular among ETFs.
Of the 83 ETFs that hold TSM, nine of the names have portfolio allocations towards TSM of 10% or greater. All nine funds find themselves higher on the day thanks in part to TSM. Outlined below are the nine funds along with each of their allocations towards TSM. The list is ranked by weighting percentages.
No. 9: Global X Emerging Markets Great Consumer ETF (EMC), 10.00% weighting.
No. 8: Wahed Dow Jones Islamic World ETF (UMMA), 10.79% weighting.
No. 7: Freedom 100 Emerging Markets ETF (FRDM), 11.43% weighting.
No. 6: Matthews Pacific Tiger Active ETF (ASIA), 11.60% weighting.
No. 5: National Security Emerging Markets Index ETF (NSI), 12.50% weighting.
No. 4: VanEck Semiconductor ETF (SMH), 12.88% weighting.
No. 3: Matthews Emerging Markets Ex China Active ETF (MEMX), 14.37% weighting.
No. 2: SP Funds S&P Global Technology ETF (SPTE), 15.54% weighting.
No. 1: SP Funds S&P World ETF (SPWO), 16.43% weighting.
For reference, shares of TSM are higher by 11.1% after the global foundry reported third-quarter results and guidance that surpassed expectations, amid increased demand for artificial intelligence chips.
“Our business in the third quarter was supported by strong smartphone and AI-related demand for our industry-leading 3nm and 5nm technologies,” said TSM’s Senior VP and CFO Wendell Huang.