Kiwoom’s US AI tech high-beta ETF adds Micron, SpaceX in rebalancing
In short
Kiwoom Asset Management replaced six of the 30 holdings in its KIWOOM US AI Tech High Beta ETF in a regular quarterly rebalancing. Micron Technology entered at a 10% weight, the fund’s largest position, followed by SpaceX at 7.70%. The company said USA Rare Earth, INNIO and MaxLinear are held by no other Korea-listed ETF.
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Kiwoom Asset Management replaced six of the 30 constituent stocks in its KIWOOM US AI Tech High Beta exchange-traded fund in a regular rebalancing, the company said. Micron Technology was newly added at a 10% weight, making it the largest position in the portfolio, and SpaceX entered at 7.70%, the second-largest. Asia Economy and Seoul Economic Daily reported that the changed portfolio applied from 6 October. [ 1 , 2 , 3 ]
The other additions were semiconductor test equipment and robot automation company Teradyne at 3.36%, rare-earth materials and permanent magnet supply chain company USA Rare Earth at 2.60%, data-centre gas engine power equipment company INNIO at 2.31% and high-speed optical communications semiconductor company MaxLinear at 2.23%. Six existing holdings were removed: Semtech, Fabrinet, Lumentum Technologies, ACM Research, Joby Aviation and Ultra Clean Holdings. [ 1 , 2 , 3 ]
According to the company, USA Rare Earth, INNIO and MaxLinear are held by no other ETF listed in Korea. Kiwoom said it identified companies supporting the expansion of AI infrastructure — rare-earth materials and permanent magnets, on-site power generation for data centres and high-speed optical communications — using analysis based on large language models. [ 1 , 2 , 3 ]
The fund is a passive ETF that invests in the top 30 US-listed AI and frontier technology companies ranked by beta, a measure of market sensitivity. Individual weights are calculated as 50% market capitalisation and 50% beta, and are capped at 10% at each regular rebalancing, with holdings and weights adjusted quarterly. Newly listed companies can be included if they meet the criteria. Kiwoom said the fund remains diversified across AI cloud, quantum computing and power, but that price swings can be large in a falling market because it holds high market-sensitivity stocks. [ 1 , 2 ]
Lee Kyung-jun, head of Kiwoom Asset Management’s ETF management division, said the high-beta strategy is a high-risk, high-return approach that seeks strong upside by concentrating on stocks with high market sensitivity. He said the rebalancing added memory, space and AI power companies and invested in a rare-earth company for the first time, reflecting new market trends, and that the fund re-selects its holdings each quarter under set criteria rather than staying with a single theme. [ 1 , 2 , 3 ]
The outlets differed on timing: Asia Economy and Seoul Economic Daily said the new portfolio took effect on 6 October, while Yonhap, published the following morning, reported that Kiwoom announced the six new holdings on the 7th. The documents give no performance or fund flow figures. [ 1 , 2 , 3 ]
Why it matters
The rebalancing is a routine portfolio adjustment for a single Korea-listed ETF tracking US high-beta AI and frontier technology stocks, so its direct effect is limited to the fund’s investors. It does show how a domestic asset manager is positioning around memory, space and AI power-supply themes, and the company repeated its warning that high-beta holdings can swing sharply in a falling market.
Key facts
- Kiwoom Asset Management replaced 6 of the 30 constituent stocks in the KIWOOM US AI Tech High Beta ETF during a regular rebalancing. [ 1 , 2 , 3 ]
- Micron Technology was newly added at a 10% weight, the largest position in the portfolio, and SpaceX entered at 7.70%. [ 1 , 2 , 3 ]
- Other additions were Teradyne at 3.36%, USA Rare Earth at 2.60%, INNIO at 2.31% and MaxLinear at 2.23%. [ 1 , 2 , 3 ]
- Semtech, Fabrinet, Lumentum Technologies, ACM Research, Joby Aviation and Ultra Clean Holdings were removed. [ 1 , 2 , 3 ]
- According to the company, USA Rare Earth, INNIO and MaxLinear are held by no other ETF listed in Korea. [ 1 , 2 , 3 ]
- The ETF invests in the top 30 US-listed AI and frontier technology stocks by beta and caps any single holding at 10% at rebalancing. [ 1 , 2 , 3 ]
- Position weights are calculated as 50% market capitalisation and 50% beta, with holdings and weights adjusted quarterly. [ 1 , 2 ]
- Kiwoom said the ETF can see large price moves in a market downturn because it holds high market-sensitivity stocks. [ 1 , 2 ]
Confirmed by several sources
- Six of the fund’s 30 holdings were swapped in the rebalancing, with Micron at 10% and SpaceX at 7.70%. [ 1 , 2 , 3 ]
- USA Rare Earth, INNIO and MaxLinear are, according to the company, held only by this ETF among Korea-listed products. [ 1 , 2 , 3 ]
- The fund is a passive ETF tracking 30 US-listed AI and frontier tech stocks, with individual weights capped at 10%. [ 1 , 2 , 3 ]
- Lee Kyung-jun, head of Kiwoom’s ETF management division, said the rebalancing added memory, space and AI power companies and invested in rare-earth firms for the first time. [ 1 , 2 , 3 ]
Still unclear
- When the changed portfolio took effect and when the company announced it. Asia Economy and Seoul Economic Daily reported the new portfolio applied from 6 October, while Yonhap, published 7 October, said the company announced the change on the 7th. The documents do not reconcile the two.
- How the rebalancing affects the fund’s returns or flows. No document gives performance, asset size or investor flow figures.