Retail Investor-Tracking ETFs Fall Short as KOSPI Index Surges 58%, US S&P 500 Climbs 11.2%

US500-0.02%
NVDA-4.61%
TSLA-1.61%
According to Dailyeconomy, on July 27, South Korean retail investor-tracking ETFs RISE Donghak Ant and KODEX US Seohak Ant significantly underperformed their benchmark indexes in 2026. RISE Donghak Ant gained only 13% year-to-date compared to RISE KOSPI's 58% gain, while KODEX US Seohak Ant declined 2.7% versus KODEX US S&P 500's 11.2% advance. The underperformance stems from concentrated positions in a narrow set of favored stocks. RISE Donghak Ant heavily weights Samsung Electronics and SK Hynix, while KODEX US Seohak Ant is dominated by Nvidia and Tesla. When these concentrated holdings declined—Tesla fell 14% on poor earnings—the ETFs suffered disproportionately larger losses than their broader indexes.
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