TIGER KoreaTOP10 ETF Outpaces Kospi, Attracts U.S.-Focused Investors

The TIGER KoreaTOP10 ETF, run by Mirae Asset Global Investments, has drawn attention as a high-conviction, large-cap focused vehicle amid rising geopolitical and global growth uncertainty. Investors have increasingly favored domestic champions with solid earnings power and global competitiveness.

Launched in 2018 as Korea’s first TOP10 ETF, the fund tracks 10 core companies by free float market capitalization listed on the Korea Exchange’s KOSPI and KOSDAQ boards. It concentrates on the top players across semiconductors, finance, defense, autos, and AI, rather than broad market exposure. In December last year the product was renamed from TIGER TOP10 to TIGER KoreaTOP10 to emphasize its Korea-centric mandate.

As of the latest trading day, the ETF’s three-, six-, and 12-month returns stood at 53.2%, 110.4%, and 181.3%, respectively. Since inception, the fund has delivered a cumulative gain of about 257.1%, outpacing the Kospi-based ETF average by a wide margin over similar periods (the Kospi ETF averages were 34.0%, 64.4%, and 116.8%).

Asset growth has reflected strong inflows from individual investors. Year to date, net purchases by individual investors totaled about 337.1 billion won. The fund’s assets under management reached 2.2891 trillion won as of yesterday, roughly up by 1 trillion won from the start of the year, highlighting rapid scale among large domestic ETFs.

Industry dynamics behind the performance include improving semiconductor demand and resilient earnings in defense and financials. Notable holdings such as Hanwha Aerospace have benefited from growing global demand for defense products, while KB Financial Group has drawn attention for shareholder-friendly policies and potential earnings support.

For U.S. readers, the ETF matters beyond Korea because the fund’s holdings include Korea’s prominent exporters and tech leaders that are integral to global supply chains. Semiconductors, AI-related software and services, and defense-related manufacturing are areas where U.S. tech and defense ecosystems intersect with Korean firms, influencing global capital flows, pricing, and technology collaboration.

In a volatile geopolitical and macro environment, market participants view a concentrated strategy on large, fundamentally sound Korean firms as a way to balance defensiveness with growth. Jung Dae-hyun, head of ETF operations at Mirae Asset Asset Management, says that in uncertain markets, a strategy focused on domestic blue chips with strong earnings and global competitiveness can be effective.