Hanwha Asset Management said on the 29th that the PLUS solar & ESS exchange-traded fund (ETF) has surpassed 200 billion won in net worth aggregates.
According to financial data firm FnGuide, as of the 28th, the product's net worth aggregates stood at 212.8 billion won. It has been about a month since net worth topped 100 billion won at the end of the previous month.
The three-month return is 112%, ranking No. 1 among domestic investment funds and ETFs (excluding leveraged and inverse). By period, returns are 54.9% for the past month, 125.3% for six months, 341.4% for one year, and 138.1% year to date.
Hanwha Asset Management analyzed that expectations that domestic companies will benefit as the United States seeks to reshape supply chains excluding Chinese products have translated into results. The United States is reducing its dependence on China by deploying policy tools such as imposing anti-dumping (AD) and countervailing duties (CVD) on Chinese solar products and excluding them from advanced manufacturing production tax credit (AMPC) tax credit benefits.
The PLUS solar & ESS ETF broadly includes stocks representing the domestic solar power, electricity, and energy storage system (ESS) value chain. Major components are OCI Holdings (24.80%), LS Electric (22.52%), Hanwha Solutions (15.96%), Samsung SDI (9.04%), and HD Hyundai Energy Solutions (7.62%).
Geum Jeong-seop, head of the ETF Business Division at Hanwha Asset Management, said, "Elon Musk said that within three years SpaceX and Tesla will each build solar production capacity of 100 GW, and the market is expected to grow in the long term," adding, "The potential inclusion of a space data center value chain could be a factor for valuation re-rating."