About the Semiconductor Index

The Semiconductor Index tracks the performance of public semiconductor companies across the full value chain — from chip design to manufacturing, equipment, software, and materials. It is designed as a benchmark for investors, operators, and researchers to compare semi-industry performance against broad market indices.

Methodology

• Universe: Public companies primarily deriving revenue from the semiconductor value chain, listed on US exchanges (or ADRs), with market cap above $1B and adequate trading liquidity.
• Two index series: An equal-weighted series treats every constituent identically; a cap-weighted series weights by market capitalization.
• Rebalancing: Constituents and weights are reset semi-annually (mid-February and mid-August).
• Inception: Both series are normalized to a level of 100 on the first trading day of January 2020.
• Segments: Fabless · IDM · Foundry · Equipment · EDA / IP · OSAT · Materials & Subsystems.
• Benchmarks: S&P 500, NASDAQ Composite, Dow Jones Industrial Average, and the PHLX Semiconductor Index (SOX).

Data Sources & Freshness

Price and fundamentals data is sourced from Yahoo Finance via the open-source yfinance library. Free cash flow is calculated as Operating Cash Flow minus Capital Expenditures. R&D and CapEx as a percentage of revenue use the latest available annual figures from each company’s filings.

Prices refresh every 30 minutes during US market hours (Monday–Friday). Fundamentals refresh once per weekday after market close. Quote feed is delayed by at least 15 minutes — this is a limitation of Yahoo’s free-tier data feed and is not suitable for trading decisions.

Limitations (v1)

• The cap-weighted series uses current shares outstanding as a proxy for historical shares — a more accurate point-in-time market cap will be added in a future release.
• Sub-segment-level indices (e.g., Fabless Index, WFE Index) are planned for a future release.
• This is not an investable index. It is provided for informational and discussion purposes only.

Inspired by the BVP Nasdaq Emerging Cloud Index. Not affiliated with Bessemer Venture Partners or Nasdaq.