I mean what is vanguard offer in place of semiconductor sector

Vanguard offers a range of ETFs as alternatives to the semiconductor sector:

1. **Vanguard Information Technology ETF (VGT)**: This ETF provides exposure to the information technology sector, which includes companies that serve the electronics and computer industries or that manufacture products based on the latest applied science. It is a broader-based alternative to SMH and offers exposure to a wider range of companies within the technology sector.
2. **Vanguard Total Stock Market ETF (VTI)**: This ETF provides exposure to the entire U.S. stock market, including a variety of sectors and industries. It is a more diversified option than SMH and can be considered for investors who are interested in the broader market rather than a specific sector.
3. **Vanguard Dividend Growth ETF (VDG)**: This ETF focuses on companies with a history of increasing dividends, which can be an attractive option for income-seeking investors. While it does not directly invest in the semiconductor sector, it offers a different perspective on the technology theme through the lens of dividend growth.

These ETFs are designed to provide investors with diversified exposure to the technology sector or the broader market, depending on their investment objectives. They are managed by Vanguard, a reputable fund manager known for its low-cost approach and diversified product offerings.