사진 확대
In the U.S. stock market, the Korean semiconductor value chain is also attracting attention as an investment theme. Following the launch of an exchange-traded fund (ETF) that includes not only Samsung Electronics and SK Hynix but also domestic materials, parts, and equipment (small manager) companies, the “top 10” ETF is set to be listed one after another.
According to the financial investment industry on the 20th, the first K-semiconductor themed ETF in the United States, “xETFs Korea AI Semiconductor ETF” (KSMH), was listed on Nasdaq on the 19th (local time). It is an active ETF that invests in more than 20 domestic memory, equipment, materials, parts, and packaging companies.
Defiance, a U.S. company, is also reportedly preparing to launch two ETFs themed with Korean semiconductors. The “Defiance Korea AI Semiconductor Top 10 ETF” and “Defiance Korea Semiconductor Top 10 ETF” completed filing securities reports in May and are about to be listed.
XETFs Korea’s AI Semiconductor ETF includes Samsung Electronics and SK Hynix at 19 percent and 18 percent, respectively, with the rest distributed to domestic small-cap companies. On the day of listing, Hanmi Semiconductor (8.1%), ISU Petasis (5.1%), Jusung Engineering (4.5%), Reno Industrial (4.5%), and Samsung Electro-Mechanics (4.1%) were included as components.
Interest in Samsung Electronics and SK Hynix has been steadily growing in the U.S. ETF market, but this is the first ETF to include small-cap stocks in Korea. ETF launches that have only taken away specific industries in certain countries are drawing attention because they are rare.
Regarding the background of the ETF’s listing, Johnny Woo, co-founder and CEO of xETFs, explained, “This is because it was difficult for U.S. investors to access Korean AI semiconductors other than Samsung Electronics and SK Hynix.”
Defiance’s two “Korea’s Top 10 Semiconductor” ETFs, which are latecomers, are also expected to incorporate a large number of small-cap stocks in Korea. Both products focused on the top 10 semiconductor market capitalization in Korea, but showed differences in the proportion of Samsung Electronics and SK Hynix and investment strategies for small managers. According to the submitted securities report, the upper limit of the proportion of single stocks of Defiance Korea’s AI semiconductor top 10 is 20%, and Defiance Korea’s top 10 semiconductor is 30%. In the latter, the combined proportion of Samsung Electronics and SK Hynix is higher at up to 60%. In addition, the AI type focuses on memory, all-process equipment, and semiconductor parts stocks, while the general type can be incorporated into foundry, post-process, and test equipment stocks.
Experts believe that demand for investment in Korean semiconductors has begun to commercialize in earnest as the U.S. first memory-intensive ETF, “Roundhill Memory ETF” (DRAM), attracts funds in a short period of time. As a result, domestic small manager companies are expected to increase accessibility to foreign investors. The Roundhill Memory ETF, listed in April, broke its net worth of $9.8 billion in 43 days, setting a record for the shortest period ever.
[Reporter Choo Kyung Ah]