Mirae Asset Securities said on the 9th it will newly list three exchange-traded notes (ETNs): a VIX futures ETN, and leveraged and inverse semiconductor ETNs.
The newly listed "Mirae Asset 1.5X S&P 500 VIX S/T Futures ETN" is a product for investors seeking revenue opportunities amid expanding market volatility. It features a leveraged strategy that tracks 1.5 times the VIX futures index's daily return.
Mirae Asset Securities said, "VIX futures often show a negative correlation with the S&P 500 index, so when the stock market falls, revenue can be expected relatively, making them usable as a risk-hedging tool."
On the same day, the "Mirae Asset Leveraged Semiconductor ETN" and the "Mirae Asset Inverse 2X Semiconductor ETN" will also be listed. The two products use the "KRX Semiconductor TR Index," calculated by the Korea Exchange (KRX), as their underlying index and track the index's daily return at 2 times (2X) and minus 2 times (-2X), respectively.
The KRX Semiconductor TR Index forms its universe from the semiconductor and semiconductor equipment sectors listed on the domestic KOSPI and KOSDAQ markets according to the Global Industry Classification Standard (GICS), and weights more than 20 constituents by free-float market capitalization.
A Mirae Asset Securities official said, "The semiconductor industry, which has recently been leading gains in the domestic stock market, is expected to show a positive trend in the mid to long term," adding, "We launched these products to provide customers with a variety of investment tools to respond to market volatility and direction."
These products can be traded the same as common stocks after listing, and details on ETN transactions and online trading methods can be checked through the Mirae Asset Securities customer center.