Mirae Asset's Nasdaq-listed chip ETF soars amid AI craze

Mirae Asset Global Investments Co., one of the largest asset managers in South Korea, said on Thursday that its exchange-traded fund (ETF) TIGER US PHLX Semiconductor Sector Nasdaq logged 1.76 trillion won ($1.3 billion) in net asset value based on its closing price on Feb. 7, surging by 125 times since listing in 2021.

The net asset value expanded by more than 300 billion won over the past three months, boasting the largest increase among the 29 semiconductor ETFs listed on the Korean market, Mirae Asset said.

The ETF tracks 30 global majors in the chip industry, such as NVIDIA Corp., Advanced Micro Devices Inc., Broadcom Inc., Qualcomm Inc., Intel Corp., ASML Holding N.V., Taiwan Semiconductor Manufacturing Co., Marvell Technology Inc., Lam Research Corp. and Applied Materials Inc.  

The fund achieved a 64.9% return last year amid the craze for OpenAI’s ChatCPT and has continued its uptrend since then.

“The momentum of the global artificial intelligence chip industry will continue for a while as generative AI and on-device AI, which helps smart devices gather and analyze data without a remote cloud server, garner attention,” said Mirae Asset’s ETF Senior Manager Kim Ji-yeon.

“The fund, which has a diversified portfolio in chip value chains, will be an efficient investment vehicle for investors looking for growth in the semiconductor industry,” she added.

Write to Han-Gyeon Seon at always@hankyung.com

Jihyun Kim edited this article.