Among ETFs launched this year, the most popular product is "SOL AI Semiconductor TOP2 Plus." Since its launch on March 17, a total of 6.4903 trillion won has flowed in as of the 14th. This marks the first among all ETFs launched this year and the second-highest inflow amount among all ETFs overall.
In an interview with Money Today, Kim Jeong-hyun, Head of the ETF Business Division at Shinhan Asset Management, cited the product's design that enhances investment utility as the secret to its popularity.
SOL AI Semiconductor TOP2 Plus has included not only Samsung Electronics and SK Hynix from the time of its listing but also SK Square and Samsung Electro-Mechanics in its portfolio. By investing alongside SK Square, the holding company of SK Hynix, it increased exposure to SK Hynix, while adding Samsung Electro-Mechanics, a manufacturer of MLCCs (multilayer ceramic capacitors), to improve investment efficiency across the semiconductor value chain. As of June 30, the ETF's return rate reached 166.3%.
Head Kim stated, "To maximize investors' economic benefits, we believed it was necessary to provide a portfolio that allows them to fully benefit when specific asset groups rise." He added, "As a result, SOL AI Semiconductor TOP2 Plus has performed well and attracted significant capital inflows."
Although the ETF's return rate dipped last month due to a sharp decline in semiconductor stocks, Head Kim forecasts that semiconductor stocks will once again lead the market.
Head Kim explained, "Semiconductor stocks have both strong investment narratives and solid performance, but they faced corrections due to concerns that AI capital expenditures (CAPEX) by big tech companies might shrink." He continued, "However, looking at the earnings reports and guidance released by major tech companies since late last month, it is clear that AI CAPEX investments have not decreased."
He further noted, "As these messages emerge one by one, we are confirming that growth trends for Samsung Electronics and SK Hynix remain intact. In the future, semiconductors will once again lead the market. Additionally, we expect positive shareholder return messages from both Samsung Electronics and SK Hynix."
While semiconductors continue to drive the market, it is forecast that concentration in the sector will ease in the second half of this year compared to the first half. Therefore, investors should pay attention to industries with strong narratives and solid performance beyond semiconductors.
Head Kim stated, "As the stock market experiences volatility, we expect a trend where certain concentrations will gradually ease." He explained, "When volatility increases, the market repeatedly selects stocks that are ultimately supported by strong performance."
He added, "In this regard, capital is likely to flow into shipbuilding, cosmetics, financial stocks that can defend against volatility, and dividend stocks with robust cash flows. A barbell strategy that combines growth stocks with value and defensive stocks should be implemented."
Head Kim also believes it is time to gradually turn attention to bond investments in addition to stocks. He said, "Interest rate levels are gradually entering an attractive range." He noted, "Investing in one-year corporate bonds rated AA- or higher currently yields returns (interest rates) exceeding 4%." He further explained, "After the central bank raises interest rates once more in the second half of this year, the attractiveness of interest rates will increase. There is also a possibility that interest rates will reach a short-term peak and then begin to decline."
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