KODEX Samsung Electronics Single Stock Leverage (0193W0) 🔎 In-depth

Its benchmark is the KRX Samsung Electronics Index, which represents the share-price path of the single stock Samsung Electronics. This ETF aims to track about 2x the "daily" return of that index. For example, if Samsung Electronics rises +3% on a day, the ETF aims for roughly +6%; if it falls -3%, roughly -6%. The most important thing here is that the multiple is strictly on a "daily" basis. The benchmark index closing value is 4,765.92.

When Samsung Electronics's share price rises, it rises about 2x more; when it falls, it falls about 2x more. Because it is linked at 2x to just one stock, its daily swings are far larger even than ordinary leverage that tracks a broad market index. As of the July 13, 2026 close, its price was ₩13,240, down 22.12% on the day, a result of Samsung Electronics's roughly -10.7% decline that day being reflected at about 2x (that day, large-cap chip stocks plunged and the market as a whole was so shaken that a circuit breaker was triggered on the KOSPI). Because it is based on a domestic stock, it is not affected by exchange rates.

This is a product with very high risk and volatility, in which two risks overlap. The first is the single-stock risk of being concentrated in the one stock Samsung Electronics rather than spread across many companies; the second is the leverage risk of magnifying its moves by "2x." Also, because the multiple is on a "daily" basis, holding it for more than a few days makes the result diverge from "2x times the cumulative return over that period." This is due to the daily rebalancing that resets the multiple each day; in particular, if the share price repeatedly rises and falls and effectively goes nowhere (sideways), a "volatility loss" that chips away at value bit by bit can accumulate. For example, even if the price rises +10% one day and falls -9.1% the next, returning to its starting point in two days, the 2x product can end up below its principal over that stretch. Conversely, when the price moves in one direction for several days in a row, compounding can work favorably. It can be used to make a strong short-term bet on Samsung Electronics's direction or to briefly hedge shares you hold, but its structure is generally unsuitable for long-term holding.

Samsung Electronics is Korea's largest company by market capitalization and the world's largest maker of memory chips, a flagship semiconductor name spanning a broad range of businesses including DRAM and NAND, high-bandwidth memory (HBM) for AI servers, foundry, smartphones and home appliances. In the first half of 2026, memory market conditions improved sharply on AI-server demand and the share price surged, before undergoing a large correction in July as earnings expectations were reset and profit-taking swept across large-cap chip stocks. With SK Hynix ahead in HBM and Samsung Electronics in a chaser position trying to close the gap with next-generation HBM4, expectations and concerns about industry conditions are concentrated on this single stock, so the share price itself tends to be quite volatile. It must be viewed together with the fact that adding a 2x multiple makes the daily swings very large.

In a word, it is a product that rides Samsung Electronics alone at about 2x its daily move. It is twice as exciting when it rises but twice as painful when it falls, and holding it for a long time can make it diverge from "2x times cumulative," so it is the kind of ETF used for taking a short-term view on direction.