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Mirae Asset Launches World's First ASOX Tracking ETF
Mirae Asset Management is set to list the 'TIGER U.S. Philadelphia AI Semiconductor Nasdaq ETF' on the Korea Exchange on the 26th, targeting the AI semiconductor market. This ETF, co-developed with Nasdaq, is the world's first to track the 'U.S. AI Philadelphia Semiconductor Index (ASOX)', with a key focus on AI-related semiconductor companies like Nvidia, TSMC, and Broadcom. As part of its investment strategy, it emphasizes the significance of AI investment by centering around AI semiconductors and companies related to IP design and EDA.
The ASOX index is formulated to prioritize the AI value chain over traditional comprehensive semiconductor firms, comprising primarily fabless and foundry companies. The investment weight for Nvidia is the highest at 22.2%, while 53% is allocated to fabless companies and 19% to related equipment foundries. This aligns with the strategic response to the development in the AI industry.
In light of Samsung Electronics falling from the top in market capitalization and Nvidia rising to the number one spot, this strategy reflects evolving market trends. Backtests by Nasdaq indicate the ASOX index surged by 580% over five years, underscoring the importance of AI technology to semiconductors. This trend suggests continued growth potential in the AI semiconductor industry.
Notably, around 58% of domestically listed semiconductor and AI ETFs are currently under TIGER ETF's purview. Mirae Asset is planning to leverage this position to expand interest in AI semiconductors in the global market.
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