{ "confirmed": true, "frontmatter": { "title": "美股 ETF 开箱｜SMH：25 只股票，为什么看起来还是像重仓 NVIDIA？", "slug": "etf-smh", "date": "2026-08-20", "summary": "美股 ETF 开箱：SMH，把 25 家大型半导体公司装进一个篮子，但真正决定走势的还是少数龙头。它买到了整条产业链，也把集中度和周期性一起买了回来。", "tier": "free", "price": 0, "category": "finance", "tags": [ "ETF" ], "cover": "https://imgs.innomad.io/blog/smh-cover-v2.webp", "draft": false, "pinned": false, "series": null, "seriesOrder": null } }