We are an asset management company, standing out in a weak market with our proactive semiconductor ETF.

Our asset management’s WON Semiconductor Value Chain Active ETF achieved the highest returns among semiconductor active ETFs during the period of significant domestic stock market volatility caused by the aftermath of the Middle East war, demonstrating outstanding performance.

According to the content explained by our asset management on the 15th, based on the statistics from the fund evaluation company KG Zeroin, this product recorded a 7% return from March 3, when the Iranian war impact was officially reflected in the domestic stock market, to April 14. During the same period, considering the 4.42% decline in KOSPI and the drop in stock prices of SK Hynix and Samsung Electronics, which are regarded as representative semiconductor stocks, this indicates that it still demonstrated relatively strong defensive capabilities amid the overall market weakness.

Even when extending the time frame, the performance remains outstanding. The recent 1-month return is 16.8%, the highest among all 10 semiconductor value chain ETFs; the 6-month return is 112.4%, and the 1-year return reaches 292.6%. Active ETFs are not fully index-tracking products but are managed with flexible adjustments of the weights of various holdings by the management company. In market conditions like recent times, where the stock price trends of different industry segments have widened, this operational strategy may be a key factor in determining performance.

Our asset management explained that when large-cap memory semiconductor stocks undergo adjustments, a more detailed segmentation of the investment portfolio plays a major role. Specifically, the proportion of companies related to flip-chip ball grid array (FC-BGA) substrates, such as Samsung Electro-Mechanics, Gigabis, Daeduck Electronics, and Korea Circuit, was increased. FC-BGA is a core component that connects high-performance semiconductor chips to substrates. As demand for semiconductors used in artificial intelligence and high-performance servers grows, this area has also attracted attention. Some analysts believe that, compared to focusing solely on large memory stocks, this strategy benefits from identifying winners across the entire value chain of semiconductor manufacturing, packaging, and substrates, ultimately leading to success.

This performance has also attracted capital inflows. As the buying momentum from individual investors continues, the ETF’s net assets surpassed 200 billion Korean won the previous day. Recently, the market has shown a structure where geopolitical instability and industry prosperity expectations are acting simultaneously. Even within industries like semiconductors, which have long-term growth potential, the specific subfields covered have become a clear trend influencing returns. This trend indicates that in the future, during periods of high volatility, market attention on active ETFs that succeed through stock selection capabilities may continue.