Mirae Asset Lists US's First Telemedicine ETF on Nasdaq

US Subsidiary Global X Launches ETFs Related to Telemedicine and Digital Health

Provided by Mirae Asset Global Investments

[Asia Economy Reporter Minwoo Lee] Mirae Asset Global Investments has listed the first telemedicine-related exchange-traded fund (ETF) in the United States on the Nasdaq market.

Mirae Asset Global Investments announced on the 31st that its subsidiary, the U.S. ETF management company Global X, listed the "Global X Telemedicine & Digital Health ETF (EDOC)," which invests in global telemedicine and digital health companies, on the Nasdaq market in the U.S. on the 30th (local time).

This ETF tracks the "Solactive Telemedicine & Digital Health Index," jointly developed by global index provider Solactive and Global X. It consists of a total of 40 stocks, with 82.48% from the U.S. as of the 21st, and Japan, China, and Hong Kong each accounting for 4%. It invests in companies whose sales from medical diagnosis through digital connections between doctors and patients, AI and cloud-based medical statistics analysis platforms, healthcare equipment utilizing connected technology, and medical management through digital technology exceed half of their total sales. EDOC is the first telemedicine-related ETF in the U.S., which accounts for about 70% of the global ETF market.

The fund aims to proactively respond to the rapidly expanding telemedicine and digital health market following the COVID-19 pandemic. According to the Global X research team, the digital health market size is expected to grow annually by 24.7% starting this year and exceed $657 billion (approximately 786 trillion KRW) by 2026.

This product can also be invested in domestically through securities firms such as Mirae Asset Daewoo that allow overseas stock trading. Luis Beruga, CEO of Global X, said, "Investors can easily invest in digital health companies worldwide that are expected to experience rapid growth through the EDOC ETF," adding, "We will continue to provide investment opportunities to investors worldwide, including Korea, through various innovative thematic products."

Meanwhile, as of the end of June, Mirae Asset Global Investments manages about 370 ETFs worth approximately 47 trillion KRW across eight countries including Korea, the U.S., Canada, Australia, and Hong Kong. According to global ETF research firm ETFGI, Mirae Asset’s global ETFs ranked 17th in net asset size among global asset managers. Recently, a Hong Kong-listed ETF that grew through China’s new growth theme ETFs surpassed 1 trillion KRW in net assets.

This content was produced with the assistance of AI translation services.