Mirae Asset's US S&P 500 ETF Surpasses 100 Billion KRW in Net Assets

Breakthrough in Just 3 Months After Listing

[Asia Economy Reporter Minwoo Lee] Mirae Asset Global Investments' exchange-traded fund (ETF) product tracking the U.S. S&P 500 index has surpassed 100 billion KRW in net assets.

Mirae Asset Global Investments announced on the 24th that the net assets of the 'TIGER U.S. S&P 500 ETF' exceeded 100 billion KRW about three months after its listing in August.

The underlying index, the S&P 500, consists of the top 500 companies by market capitalization traded on the U.S. stock market. It is considered a representative U.S. index and includes large-cap stocks accounting for approximately 80% of the total market capitalization. The TIGER U.S. S&P 500 ETF is managed using a full replication strategy to closely track the fluctuations of the underlying index and does not implement separate currency hedging. Previously, Mirae Asset Global Investments lowered the total expense ratio of the TIGER U.S. S&P 500 ETF from 0.30% per annum to 0.07%, the lowest level among ETFs tracking the same index listed domestically.

Meanwhile, TIGER ETFs have established the largest lineup in the domestic market with 128 products. The company is also strengthening its ETF business overseas, supplying over 380 ETFs across nine countries including the U.S., Canada, Australia, and Hong Kong as of the end of September. The assets under management exceed 53 trillion KRW. According to global ETF research firm ETFGI, Mirae Asset ranks 16th worldwide in terms of net assets among ETF managers.

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