XSD tracks a popular benchmark of companies that produce semiconductors, a crucial part of modern computing. Semiconductor chips act as the brains to numerous devices that we rely on today, including smartphones, calculators, computers, and much more. As technology continues to improve and expand, these chips will invariably be in demand to help power new devices. The fund focuses on U.S. stocks entirely, offering investors concentrated exposure to America's semiconductor industry. Investors should note that this fund dedicates the majority of its assets to medium and small cap funds, meaning that it will be more volatile than a traditional large cap fund, but it also presents strong growth opportunities for those who believe in the semiconductor segment of our nation. Considering the focus of the fund, a decent level of diversification is present in this product as it holds close to 50 securities in total and has less than one-quarter of total assets in the top ten holdings. Furthermore, many of the top holdings are unlikely to be found in other products as well suggesting that this is probably a solid fund for those looking to tilt exposure to the semiconductor industry without doubling down on a host of other products that are also in the tech sector.