KODEX Aggregate Bond (AA- and Above) Active (273130) 🔎 In-depth
Samsung Asset Management · Bonds · Korea · Bonds · Price 2026-08-06 · Analysis 2026-07-14
A Korean bond ETF managed by Samsung Asset Management (KODEX) that uses the 'Korea Aggregate Bond Index,' which represents Korea's bond market as a whole, as its reference, but holds only high-grade bonds rated AA- or above. It invests broadly across thousands of names, including government bonds, MSBs, special bonds, bank bonds, and high-grade corporate bonds, aiming for stable interest income. It listed on June 29, 2017, and rather than simply following the index it uses an 'active' approach in which the portfolio manager makes small adjustments.
This page organises public pricing and fund data for information purposes. It is not a recommendation to buy or sell, nor investment advice. Fees and distributions follow the manager's official disclosures and may change. Please verify with the fund manager's own materials and decide at your own responsibility.
Price as of 2026-08-06 close
USD values (market cap, AUM, turnover) are converted from KRW at ₩1,423.5 per US$ (2026-08-07); won figures are as reported. Market cap is listed units × market price, while AUM is the fund's net asset value — the two are close but not identical.
Returns & tracking as of 2026-08-06
| Period | ETF (NAV) | Index | Excess |
|---|---|---|---|
| 1M | +0.18% | +0.20% | -0.02% |
| 3M | -1.94% | -1.77% | -0.17% |
| 6M | -2.42% | -2.01% | -0.41% |
| 1Y | -7.53% | -5.60% | -1.93% |
| 3Y | +5.16% | +7.04% | -1.88% |
Returns are NAV-based (distributions not reinvested); the index is the provider's price index, and tracking error is the annualized standard deviation of daily NAV-minus-index return differences. Source: data.go.kr securities market-price API.
Fees & distributions
Fees prior fiscal year · Samsung Asset Mgmt official disclosure
Distributions Source: Samsung Asset Mgmt distribution notice·KRX
Distributions vary with fund performance; paying out more than income can reduce principal.
Understanding this ETF
The reference index is the 'KAP Korea Aggregate Bond Index (Total Return),' calculated by Korea Asset Pricing (KAP). This index broadly covers most bonds issued in Korea; government bonds make up the largest weight at nearly half (about 49% of outstanding issuance), to which are added special bonds, bank bonds, MSBs, high-grade corporate bonds, and the like. This ETF narrows its investment universe to high-grade bonds rated AA- or above, that is, with low default risk. As the 'Total Return (TR)' in the name implies, it reflects performance with the interest from bonds reinvested.
The price of a bond ETF moves mainly with market rates. When market rates fall, the value of already-issued bonds rises and the ETF price rises too; conversely, when rates rise, bond values fall and the ETF price is depressed. How sensitively it reacts is called 'duration' (a concept of average remaining maturity), and because this product holds aggregate bonds with a duration of several years, it reacts more strongly to rate swings than an ultra-short parking product. Added to this is the interest income that accrues each day, which over the long term acts as a cushion. As it holds only domestic bonds, it is unaffected by FX.
Its day-to-day fluctuations are smaller than an equity ETF, but it is different from a deposit with 'guaranteed principal.' In a phase of rapidly rising rates, bond values fall and it can go negative in the short term; conversely, in a rate-cutting phase, price gains can be expected on top of interest. Because it holds only high-grade names to reduce credit risk and is broadly diversified, it is used as the 'bond leg' of an asset allocation that values stability relative to risk. Unlike ultra-short parking products, you should also keep in mind that its value rises and falls with the direction of rates.
On the most recent reference date (2026-07-13), the close was ₩109,825, down a slight -0.15% on the day. AUM (net assets) was about ₩3.4 trillion, large among domestic bond ETFs, and NAV (net asset value per unit) was about ₩110,126 moving almost in line with the market price. Given the nature of a bond product, its daily swings themselves were not large.
In a word, it is a domestic high-grade bond aggregate set that holds a wide range of sturdy bonds issued by the nation and by high-grade companies and institutions to accumulate interest. It does not swing as much as stocks and acts as a stabilizer for a portfolio, but just remember that its value can dip briefly when market rates rise and that it is not a product with a fixed principal like a deposit.
Composition
Government bonds form the largest pillar, backed by MSBs, special bonds (such as public-corporation bonds), bank bonds, and high-grade corporate bonds. Rather than piling into any single company, it is spread finely across thousands of names so that the whole does not wobble much even if a particular issuer wavers. Because it limits credit ratings to AA- or above, it has lower credit risk (the risk that an issuer cannot repay) than products that add risky low-grade bonds to capture more yield. Because bond remaining maturities are mixed across several years, on average it has an intermediate-term character.
Classification
Notes & cautions
- It is a product that invests in bonds, not a deposit, so in a phase of rising market rates bond prices fall and it can incur losses in the short term.
- With a duration of several years, it reacts more strongly to rate swings than an ultra-short parking ETF that accrues only interest on a daily basis.
- 'Active' means the portfolio manager makes small adjustments to the bond composition while referring to the index, so its performance may not exactly match the index.
ETF terms explained
Korea FSC securities market-price API (data.go.kr) · ETF classification & tagging: our own descriptive categorization
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