by Ryu Hyunseok
Published 03 Nov.2025 14:31(KST)
FnGuide, a leading private index provider in Korea, announced on November 3 that the net asset value (NAV) of the 'SOL Shipbuilding TOP3 Plus' exchange-traded fund (ETF), managed by Shinhan Asset Management and based on its proprietary index, surpassed 2 trillion won as of October 31. This milestone was achieved in about two years since its listing in October 2023.
'SOL Shipbuilding TOP3 Plus' is the first among 156 ETFs tracking FnGuide indices to exceed 2 trillion won in net assets. As of October 31, it became the 27th ETF among all domestic ETFs to join the 2 trillion won club. It ranks seventh among domestic equity ETFs and is the largest among theme-based ETFs, excluding market benchmark indices.
The FnGuide Shipbuilding TOP3 Plus Index is designed to reflect the growth momentum of the shipbuilding industry by encompassing the top three domestic shipbuilding companies, as well as shipbuilding equipment and shipping, covering the entire value chain.
Recently, structural changes in the industry, such as strong global shipping rates, increased orders for LNG carriers, and supply constraints in shipbuilding, have coincided. In addition, the surge in investment demand for related themes, driven by the United States' MASGA policy stance, is cited as a key factor behind this achievement. The product lineup was further strengthened in July this year with the listing of a leveraged ETF based on the same index, following growing investor interest.
As of the end of October, the total net asset value of all ETFs based on FnGuide indices reached 31.3 trillion won, an increase of about 5 trillion won in just one month, demonstrating continued growth. There are also nine equity ETFs based on FnGuide indices that each exceed 1 trillion won in net assets. This highlights the expanding influence of FnGuide indices in the market.
A representative from FnGuide stated, "This achievement is the result of the high reliability of FnGuide indices and close collaboration with asset managers," adding, "We will continue to establish ourselves as an index provider that grows with the market by offering a variety of index solutions reflecting industry trends and investor needs."
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