5 Best Performing Technology ETFs in 2023

In this article, we discuss 5 best performing technology ETFs in 2023. If you want to read our discussion on the current technology landscape, head over to 10 Best Performing Technology ETFs in 2023. 

5. iShares Semiconductor ETF (NASDAQ:SOXX)

YTD Share Price Performance as of August 24: 45.35%

iShares Semiconductor ETF (NASDAQ:SOXX)’s primary objective is to replicate the investment outcomes of the ICE Semiconductor Index, which comprises American equities within the semiconductor industry. The fund’s inception date was July 10, 2001. As of August 23, 2023, iShares Semiconductor ETF (NASDAQ:SOXX)’s portfolio contains 30 stocks and features an expense ratio of 0.35%. It is one of the best performing technology ETFs to invest in. 

Broadcom Inc. (NASDAQ:AVGO), a California-based semiconductor company, is one of the top holdings of the iShares Semiconductor ETF (NASDAQ:SOXX). On June 1, Broadcom Inc. (NASDAQ:AVGO) reported a Q2 non-GAAP EPS of $10.32 and a revenue of $8.73 billion, outperforming Wall Street estimates by $0.18 and $20 million, respectively. The company also repurchased 5.6 million common shares valued at $3,420 million. 

According to Insider Monkey’s second quarter database, 72 hedge funds were bullish on Broadcom Inc. (NASDAQ:AVGO), with Rajiv Jain’s GQG Partners holding a prominent stake in the company, comprising 1.10 million shares worth $955.7 million. 

Here is what Aristotle Atlantic Partners has to say about Broadcom Inc. (NASDAQ:AVGO) in its Q2 2023 investor letter:

“Broadcom contributed to outperformance, as the company is seen as a key beneficiary of the investment in generative Artificial Intelligence (AI) and Large Language Models (LLM). The company’s Application-Specific Integrated Circuit (ASIC) chips are being custom-built for customers to use in their data centers for accelerated computing. Broadcom’s networking chipsets are also expected to see increased levels of demand, as customers increase investments to enable the high-speed data transfer required by advanced AI training and inference. The company also announced a new multi-year supplier relationship with Apple, the company’s largest customer.”