KODEX KOSDAQ 150 Leverage (233740) 🔎 In-depth
Samsung Asset Management · Equity · Korea · Broad market · Price 2026.07.13 · Updated 2026-07-14
A leverage ETF that tracks the daily move of KOSDAQ 150, the headline index of the KOSDAQ market, at about 2x. Rather than holding the actual stocks in KOSDAQ 150, it creates the 2x effect using derivatives such as index futures and swaps.
Price as of 2026.07.13 close
Understanding this ETF
The benchmark index is KOSDAQ 150, made up of 150 names selected from KOSDAQ-listed stocks based on considerations such as market representativeness and liquidity. This ETF aims to follow the 'daily' return of that index at about 2x. If KOSDAQ 150 rises +2% in a day it aims for roughly +4%, and if it falls -2% it aims for roughly -4%; the most important point is that the ratio is on a 'daily' basis.
When KOSDAQ 150 rises, it rises about 2x more, and when it falls, it falls about 2x more. KOSDAQ is itself a more volatile market than KOSPI because of its large weight of growth stocks, and adding 2x on top makes the daily swings quite large. Because it follows a domestic stock index, there is no FX effect.
This is a high-volatility, high-risk product. On top of KOSDAQ, a highly volatile market, it layers 2x leverage, and because the ratio is on a 'daily' basis, holding it for more than a few days makes the result differ from '2x x the cumulative return over the period.' In particular, in a sideways market where the index repeatedly rises and falls and stays in place, a 'volatility loss' can occur in which value is gradually ground away in the process of re-setting the ratio each day. For example, even if the index returns to its starting point in two days after +5% one day and -4.76% the next, a 2x product can end below its original value. Conversely, when the market moves in one direction for several days, compounding can work favorably. It can be used to make a short bet on a KOSDAQ rebound or to briefly hedge KOSDAQ-related holdings, but it is generally unsuitable for long-term holding.
Into 2026, KOSDAQ showed institutional money flowing into growth stocks such as secondary batteries, bio, and robotics that had seen large past corrections, and the index composition broadened from a bio focus toward AI, ESS, space, and the like. However, because the weight of a small number of top names is large, the index can swing sharply on issues in specific sectors, and it should be noted that this swing is amplified twofold.
In a word, it is a product that moves at about 2x the daily move of KOSDAQ 150. It is twice as good when it rises but twice as painful when it falls, and holding it for a long time can make it diverge from '2x x cumulative,' so it is an ETF for taking a short-term directional view.
Holdings & weights
It is not an ordinary index ETF that splits its holdings across 150 physical stocks; it is a product that magnifies the movement of the KOSDAQ 150 index itself by 2x. As a result, no table of individual holdings is visible. Instead, it creates the ratio by buying KOSDAQ 150 index futures or entering swap contracts with brokerages to take a 'long (buy)' position betting on the index rising, sized at about 2x the assets. That said, because the KOSDAQ 150 index itself has high weights in bio/healthcare and IT and pronounced top-name concentration, these sector trends are also heavily reflected in this ETF's daily moves.
Detailed holdings and weights are filled in over time from reliable disclosures (KRX / the asset manager). The classification and benchmark above already give a good sense of what this ETF holds.
Classification
Notes & cautions
- The ratio (about 2x) is on a 'daily' basis; accumulated over several days, it will not be exactly 2x the index's return.
- With leverage layered onto KOSDAQ's large volatility, daily swings are large. The structure suits short-term directional or hedging purposes rather than long-term holding.
ETF terms explained
Korea FSC securities market-price API (data.go.kr) · ETF classification & tagging: our own descriptive categorization
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