Top 5 Performing Semiconductor ETFs Of The 1st Quarter Semiconductors remain one of the hottest areas of the market with several ETFs delivering double digit gains. Author: Apr 5, 2021 The first quarter of 2021 wrapped up last week and the U.S. equity markets show little sign that they're ready to slow down anytime soon. The S&P 500 (SPY) gained more than 6%, while the small-cap Russell 2000 (IWM) was up nearly 13%. The tech sector was actually an underperformer during the quarter having returned a mere 2%. Investors used a new stimulus package, optimism over vaccine distribution and the expectation for a broader rebound throughout the latter half of 2021 as a reason to rotate out of growth and into economically cyclical sectors, such as energy and industrials.