GET DAILY SIGNALSGlobal X AI Semiconductor & Quantum ETF (CHPX) Falls -28.6% in 30 Days on Sector Rotation
Key Takeaways
- CHPX declined roughly 28.6% over the trailing 30 days, marking a sharp reversal from its stronger performance earlier in 2026.
- The fund remains down about 20% over the most recent quarter, even after solid gains earlier in the year.
- Heavy concentration in cyclical memory and AI semiconductor names—led by MU (Micron Technology)—amplified the drawdown.
- As a non-diversified thematic ETF holding roughly 40 securities, a small number of stocks drive a large share of returns and volatility.
- The fund's 0.50% expense ratio and index-tracking structure offer no cushion against sector-level price swings.
- Explore detailed Price Targets and Forecast pages for additional technical and predictive insights on this ETF.
- Discover actionable trading ideas and AI-driven strategies through Trending AI Robots.
CHPX ETF Overview and Portfolio Exposure
The Global X AI Semiconductor & Quantum ETF (CHPX) is a passively managed, index-tracking fund that seeks investment results generally corresponding to the Global X AI Semiconductor & Quantum Index. The fund invests in companies positioned to benefit from the growth of the artificial intelligence (AI) semiconductor and quantum computing ecosystems, spanning advanced chips, memory, networking and systems enablers, and quantum computing developers. It is classified as non-diversified, meaning it may concentrate a larger share of assets in fewer issuers than a diversified fund.
The portfolio holds roughly 40 securities and is heavily weighted toward the semiconductor industry. Its largest positions include MU (Micron Technology) at about 13% of assets, TSM (Taiwan Semiconductor Manufacturing) near 10.5%, NVDA (NVIDIA) near 10%, AVGO (Broadcom) near 8%, and AMD (Advanced Micro Devices) near 5.5%. Other notable names include ASML, MRVL (Marvell Technology), INTC (Intel), and QCOM (Qualcomm), alongside non-US-listed memory and foundry leaders such as SK hynix and MediaTek. The fund carries a 0.50% net expense ratio. I also checked this using Tickeron’s AI Screener to see how the holdings compare to peers.
This structure is central to the ETF's recent behavior. Because the top ten holdings account for a majority of assets and memory-chip names feature prominently, the fund is highly sensitive to swings in the AI semiconductor complex and to the pricing cycles of the memory industry.
CHPX Price Performance: Last 30 Days vs. Quarter
Over the trailing 30 days, CHPX fell from a closing level near $104.51 to approximately $74.61, a decline of roughly 28.6%. The move was not gradual: the fund carved out a peak near $105 in early October before retreating, with the steepest single-session losses concentrated in the most recent trading days. This pattern indicates elevated volatility rather than a steady, range-bound drift.
The quarterly picture is somewhat less severe but still negative. From a closing level near $93.63 about three months earlier, the fund declined roughly 20%. That three-month slide came after a period in which the ETF had posted strong year-to-date appreciation, reflecting the rapid repricing of AI and memory-related semiconductor stocks.
What Drove CHPX Price in the Last 30 Days
The recent drawdown was driven primarily by a broad pullback in AI semiconductor equities, with particular pressure on cyclical memory names. MU (Micron Technology), the fund's largest holding at roughly 13% of assets, has outsized influence on returns, and memory-chip manufacturers such as Micron and SK hynix are closely tied to volatile DRAM and high-bandwidth memory (HBM) pricing cycles. When those cyclical names correct, the impact on a concentrated fund like CHPX is magnified. From what I see, this concentration leaves little room for offsetting moves elsewhere.
Other mega-cap AI semiconductor positions, including NVDA (NVIDIA), AVGO (Broadcom), and AMD (Advanced Micro Devices), also contributed to the decline as investor sentiment cooled following a prolonged period of gains. The fund's non-diversified structure and heavy sector concentration meant there was little offset from defensive or unrelated industries to absorb the selling. The result was a series of sharp down sessions rather than an orderly, incremental adjustment.
What Drove CHPX Performance Over the Last Quarter
Over the most recent quarter, the fund's roughly 20% decline reflects a broader de-risking within the semiconductor sector after an extended advance. Earlier in 2026, CHPX benefited from strong demand for AI accelerators and memory, which lifted its largest holdings and pushed the fund's year-to-date return sharply higher. As valuations became stretched, the same cyclical forces that powered the rally began to work in reverse. One thing that stands out is how quickly sentiment can shift in this space.
The longer three-month trend is best understood as sector rotation and profit-taking within technology, rather than a change in the fund's structure or mandate. Memory pricing expectations, hyperscaler capital-expenditure outlooks, and broader risk appetite across growth-oriented equities all shaped the quarter. Because the portfolio is dominated by a handful of semiconductor names, its performance closely tracked the direction of those companies rather than broad-market indices.
CHPX ETF Outlook: What Investors Should Watch Next
Going forward, the primary factors likely to influence CHPX are the trajectory of AI semiconductor demand, memory pricing cycles, and the capital-expenditure plans of major cloud and data-center operators. Because memory names such as MU (Micron Technology) and SK hynix carry significant weight, developments in DRAM and HBM supply and pricing will remain key swing factors for fund performance. I'm watching this closely as earnings season approaches.
Investors should also monitor the earnings cycles of the fund's largest holdings, interest-rate expectations and their effect on high-multiple growth stocks, and any shifts in semiconductor industry supply chains or trade policy. The fund's concentration and non-diversified structure mean that individual company results can move the entire portfolio meaningfully. Elevated volatility is likely to persist, and capital flows into thematic technology ETFs may amplify moves in both directions. These structural dynamics, rather than any single news event, are expected to shape the ETF's risk profile in the months ahead.
AI Screener for Targeted Research
Tickeron's AI Screener helps me quickly scan thousands of securities with technical indicators, fundamentals, volatility metrics, and AI-generated signals. I find it useful for comparing concentrated thematic funds like this one against broader industry peers without manually reviewing each chart. The platform highlights securities matching specific criteria, which supports a more disciplined approach to identifying opportunities in volatile sectors.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
Contributor
Financial analyst and market blogger with expertise in equity research, fundamental analysis, and macroeconomic trends. I regularly publish coverage on individual stocks, ETFs, and sector developments — combining rigorous financial analysis with clear, engaging writing for a broad investment audience.
CHPX's RSI Indicator is remaining in oversold zone for 1 day
It is expected that a price bounce should occur soon.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +5.85% 3-day Advance, the price is estimated to grow further. Considering data from situations where CHPX advanced for three days, in 83 of 88 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
CHPX may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 29, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on CHPX as a result. In 14 of 14 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 90%.
The Moving Average Convergence Divergence Histogram (MACD) for CHPX turned negative on October 09, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 9 similar instances when the indicator turned negative. In 8 of the 9 cases the stock turned lower in the days that followed. This puts the odds of success at 89%.
CHPX moved below its 50-day moving average on October 14, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for CHPX crossed bearishly below the 50-day moving average on October 20, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 2 of 3 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 67%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CHPX declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 85%.
The Aroon Indicator for CHPX entered a downward trend on November 06, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Advertisement
General Information
Category Technology
Advertisement