Semiconductor Holders (SMH)

Description:

SMH is an ETF that tracks the major companies in the semiconductor industry. As of October 2, 2007, it was up 15.78% YTD. SMH is managed by Merrill Lynch and contains 20 stocks, which will not change unless there is a "reconstitution event".

I'm assembling this portfolio that tracks SMH as well as its component stocks. The question is - in the long run, is it better to buy SMH or one or more of the companies SMH tracks?

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