After a strong debut, the single-stock leverage ETFs for Samsung Electronics and SK Hynix showed diverging trends. While the SK Hynix leverage ETF continued to gain, the Samsung Electronics leverage ETF experienced a decline.
According to the Korea Exchange, Samsung Electronics closed at 299,500 won, down 7,500 won (2.44%) from the previous trading day, while SK Hynix rose by 46,000 won (2.05%) to finish at 2,289,000 won. Consequently, the performance of the leverage ETFs tracking these stocks varied significantly.
As reported by Yonhap Infomax, the total trading volume for 16 domestic single-stock leverage and inverse ETFs reached 9.6177 trillion won. Although this was a slight decrease from the previous day's 10.4043 trillion won, trading remained robust for two consecutive days around the 10 trillion won mark, indicating signs of overheating. The overall market capitalization increased slightly to 5.0248 trillion won compared to the previous day.
The most actively traded product was Samsung Asset Management's 'KODEX SK Hynix Single Stock Leverage ETF,' which recorded a trading volume of 3.7712 trillion won and a gain of 4.3%. Mirae Asset Management's 'TIGER SK Hynix Single Stock Leverage ETF' also saw a trading volume of 1.9065 trillion won with a rise of 4.39%.
In contrast, the Samsung Electronics leverage ETF showed weakness. Samsung Asset Management's 'KODEX Samsung Electronics Single Stock Leverage ETF' recorded a trading volume of 1.4671 trillion won but ended with a return of -4.95%. Similarly, Mirae Asset Management's 'TIGER Samsung Electronics Single Stock Leverage ETF' closed down 5.19% with a trading volume of 988.9 billion won. Given that these ETFs are based on the same stocks, their performance was closely aligned.
Inverse products betting against Samsung Electronics performed well. Hanwha Asset Management's 'PLUS Samsung Electronics Futures Single Stock Inverse 2X ETF' rose by 5.32%, with a trading volume of 107.8 billion won. Conversely, Shinhan Asset Management's 'SOL SK Hynix Futures Single Stock Inverse 2X ETF,' which had plummeted the previous day, fell by 4.3% due to the strong performance of SK Hynix shares.
Market analysts suggest that single-stock leverage ETFs are rapidly absorbing short-term investment demand. As volatility in major semiconductor stocks, which are currently leading the domestic market, increases, funds with a high-risk, high-reward profile are also flowing into the ETF market, intensifying the concentration trend.
Han Ji-young, a researcher at Kiwoom Securities, noted, "The market is currently experiencing short-term fatigue from the dominance of AI and semiconductor stocks, leading to a 'supply-demand black hole' phenomenon created by single-stock leverage. She added, "The previous day's domestic market saw an unprecedented level of return concentration, and it is necessary to prepare for the possibility that this concentration burden could lead to short-term profit-taking and increased volatility."
* This article has been translated by AI.
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