KIWOOM 200 TR (294400) 🔎 In-depth

The benchmark is the 'KOSPI 200 TR.' The KOSPI 200 is an index of 200 leading stocks selected from the securities market (KOSPI) for their large market cap and active trading, built by market-cap weighting and calculated by the Korea Exchange (KRX). When 'TR (Total Return)' is added, the calculation assumes that the cash dividends paid by the constituents are reinvested directly into the index. In other words, whereas the plain KOSPI 200 index reflects 'price only,' the TR index reflects 'price + dividend reinvestment.' This ETF tracks it using 'physical replication,' actually buying and holding those 200 stocks.

Being a plain (1x) product rather than leverage or inverse, if the KOSPI 200 rises 1% in a day this ETF also rises around 1%, and falls in the same direction. However, because it uses the TR method, dividends are not paid out in cash but reinvested inside the index, so over time it tends to outperform a plain KOSPI 200 product that 'tracks price only' by the amount of the dividends. On the other hand, it does not suit investors who want to receive dividends in cash. As a domestic asset it is not affected by exchange-rate movements.

This product combines a 'market-representative (core)' character that holds the entire Korean stock market at once with a TR type that pursues long-term compounding through dividend reinvestment. Its fees (management costs) are very low, so the cost burden is small the longer you hold it, and with the added dividend-reinvestment effect it is well suited to long-term holding. That said, even though it is called 'diversified,' the weighting in big semiconductor stocks is high, so if the semiconductor cycle turns the whole index can be shaken along with it — the same as other KOSPI 200 products. The fact that dividends are not received in cash can also be a drawback depending on preference.

On July 13, 2026 the closing price was ₩142,310 and the NAV was ₩142,199, so the closing price and NAV were nearly aligned, meaning the market price closely matched the actual asset value. The one-day change that day was -10.0%, falling sharply along with the KOSPI 200's correction. AUM (net assets) and market cap were each around ₩1.82 trillion.

In a word, it is a 'low-cost, long-term-holding basket that holds the KOSPI 200 while automatically rolling over the dividends it produces.' Since it tracks the whole market while reinvesting dividends to build compounding, it suits investors who want to park money for a long time rather than receive dividends in cash. As for what's actually inside, just remember that big semiconductor stocks such as Samsung Electronics and SK Hynix carry a high weighting.