It is not. The Scofield Bible created that deception.

Here's how the lineage works:

Noah had three sons: Shem, Ham, and Japheth.

The descendants of Shem are the Shemites, also known as the Semites. Jacob (also known as Israel) is of this lineage. He is the father of the 12 tribes, the true Israelites. Israel's descendants are the ones that God blessed.

This is the lineage of Noah's son Japheth:

Noah → Japheth (son) → Gomer (grandson) → Ashkenaz (great-grandson)

Ashkenaz is the father of the Ashkenazis, who are most, if not all, of the current day Jews. They are all outside the lineage of Shem and Jacob/Israel.