Straddle rule between similar but no identical ETFs like SMH and SOXX

Could someone with experience on taxes and investing clarify if one owns shares in an ETF like SMH, and hedges them with puts from another index like SOXX is that considered a straddle? I'm getting mix answers depending where you look and the IRS doesn not have a defined matrix or database and seems like a grey area. Brokerages won't flag the trade as those etfs track different indexes, but basically both are semiconductor indexes. thanks! submitted by /u/miguellan [link] [comments]