Hana Asset Management said on the 5th that 1Q U.S. Space and Aerospace Tech, Korea's first U.S. space and aerospace tech exchange-traded fund (ETF), surpassed 100 billion won in net worth just five weeks after listing.
Since its listing on Nov. 25 last year, the ETF has logged 26 consecutive trading days of net purchases by individual investors. The amount is about 62.4 billion won.
The 1Q U.S. Space and Aerospace Tech ETF is a product that concentrates on leading U.S. space and aviation tech companies. It holds Rocket Lab and Joby Aviation at a maximum weight of about 16% each, and invests the remaining roughly 68% in core names such as Palantir, GE Aerospace, AST SpaceMobile, and Archer Aviation. If Elon Musk's space company SpaceX goes public, it plans to add it immediately at the maximum weight.
Hana Asset Management said the 1Q U.S. Space and Aerospace Tech ETF delivered a return of about 27% in roughly five weeks after listing, ranking No. 1 in December among overseas equity ETFs by performance. It is seen as the result of heightened expectations for earnings growth on news that SpaceX is pushing an initial public offering (IPO) this year at around $1.5 trillion (about 2,200 trillion won).
Kim Tae-woo, CEO of Hana Asset Management, said, "With SpaceX moving toward an IPO, space and aerospace-related industries are expected to draw major attention and growth going forward," adding, "we plan to continue launching differentiated 1Q ETFs."