Hanwha Asset Management's PLUS Solar & ESS ETF Surpasses 200 Billion Won in Net Assets

The "PLUS Solar & ESS" exchange-traded fund (ETF) managed by Hanwha Asset Management has surpassed 200 billion won in total net assets, continuing its rapid growth trajectory.

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According to Hanwha Asset Management on April 29, the ETF, which exceeded 100 billion won in net assets at the end of last month, has reached the 200 billion won milestone in roughly one month. Based on FN Guide's financial data as of April 28, the total net assets stood at 212.8 billion won.

Record-breaking returns are driving capital inflows. The ETF posted a three-month return of 112%, ranking first among all domestically listed ETFs and domestic investment funds excluding leveraged and inverse products. By period, its performance was 138.1% year-to-date, 125.3% over the past six months, and 341.4% over one year, achieving high returns both in the short and medium-to-long term.

This strong performance is attributed to investor expectations that domestic companies will benefit from the U.S. policy to restructure its supply chain away from China. The United States is using policy measures such as imposing anti-dumping and countervailing duties (AD/CVD) on Chinese solar products and excluding them from the Advanced Manufacturing Production Credit (AMPC) to reduce dependence on China. As a result, domestic value chain companies, spanning from solar power generation and energy storage systems (ESS) to power grid expansion, are being highlighted for their competitiveness.

The ETF broadly includes key solar and electric infrastructure stocks such as OCI Holdings (24.80%), LS ELECTRIC (22.52%), Hanwha Solutions (15.96%), Samsung SDI (9.04%), and HD Hyundai Energy Solutions (7.62%).

OCI Holdings is competitive in the production of non-China-origin polysilicon. Hanwha Solutions possesses a solar value chain in the U.S. market covering ingots, wafers, cells, and modules. HD Hyundai Energy Solutions specializes in solar modules; LS ELECTRIC and HD Hyundai Electric are strong in power equipment and electric infrastructure; and Samsung SDI and LG Energy Solution are competitive in ESS and battery sectors. Together, they build a portfolio that responds to the entire energy transition, from solar power generation to energy storage and grid expansion.

Recently, the potential expansion into the space industry has emerged as a new investment attraction. News that SpaceX, led by Elon Musk, is pursuing a polysilicon supply contract with OCI Holdings has heightened expectations that solar materials could be linked to the space industry. In addition, Hanwha Solutions is developing perovskite-suitable as a solar material for space applications-together with HD Hyundai Energy Solutions, raising prospects for further technological expansion of the portfolio.

Jeongseop Keum, Head of the ETF Division at Hanwha Asset Management, stated, "With Elon Musk announcing plans for SpaceX and Tesla to each build 100 GW of solar production capacity within three years, the market size is expected to grow significantly over the long term," adding, "The potential inclusion in the space data center value chain could serve as a catalyst for valuation re-rating."

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