Active strategy combines chip sector upside with monthly income as AI-driven demand accelerates
Headquarters of Mirae Asset Global Investments
Mirae Asset Global Investments has introduced a new exchange-traded fund (ETF) targeting Korea’s semiconductor sector, adding an income-focused strategy to its existing lineup of chip-related products.
The newly listed ETF applies a covered call approach using options on individual stocks—marking a departure from traditional domestic covered call funds that typically rely on index-based options such as the KOSPI 200. By writing call options directly on major semiconductor stocks, the fund aims to capture higher option premiums while maintaining exposure to the sector’s growth potential.
The structure reflects a broader shift in ETF strategies toward balancing capital appreciation with stable cash flow. The fund distributes income on a monthly basis, positioning itself as an option for investors seeking regular payouts alongside participation in Korea’s semiconductor rally.
Unlike passive covered call strategies, the ETF adopts an active approach, adjusting its option-selling ratio depending on market conditions. During periods of expected sector strength, the fund may reduce option exposure or adjust strike prices to retain upside potential. Conversely, in more volatile markets, it can increase option selling to enhance premium income.
The launch comes as Korea’s semiconductor industry continues to benefit from structural tailwinds driven by artificial intelligence. Industry data suggests that semiconductors account for a significant portion of projected earnings growth in the KOSPI, while exports have remained near record levels. Rising demand for large-scale data processing—particularly from AI applications—is further reinforcing the importance of memory chips in global supply chains.
With this addition, Mirae Asset completes a more diversified semiconductor ETF lineup that now spans growth-oriented, leveraged, and income-focused strategies. Market participants note that such segmentation reflects increasing demand for tailored investment products aligned with specific objectives, including yield generation.
The ETF’s design also incorporates tax-related considerations. In Korea, certain option premium income from domestic equities is treated favorably compared to traditional dividend income, potentially enhancing after-tax returns for investors.
Industry observers say the product highlights how asset managers are adapting to changing investor preferences in a high-volatility, high-growth environment. As interest rates and market uncertainty persist, hybrid strategies that combine income generation with sector exposure are gaining traction.
Mirae Asset is also rolling out promotional events tied to the launch, although the broader significance lies in how actively managed covered call strategies are evolving within Korea’s ETF market.
Kim Min-jee
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