TIGER CD Rate Investment KIS (Synthetic) (357870) 🔎 In-depth
Mirae Asset · Rates · Parking · Korea · Rates · Parking · Price 2026-08-06 · Analysis 2026-07-14
This is an ultra-short-term rate (parking) ETF managed by Mirae Asset (TIGER) that tracks the 'CD (Certificate of Deposit) 91-day rate,' the banks' short-term funding rate. With a structure that accrues a little interest at that rate each day, it is widely used for 'parking' — briefly stashing a lump sum. It listed on July 7, 2020 and uses a 'synthetic' method that receives the index return through a swap contract with a securities firm rather than holding actual bonds.
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 |
|---|---|---|
| 1M | +0.25% | +0.24% |
| 3M | +0.72% | +0.72% |
| 6M | +1.42% | +1.43% |
| 1Y | +2.64% | +2.79% |
| 3Y | +9.61% | +9.93% |
This ETF pays regular distributions. The returns and max drawdown above are on a NAV (price) basis, distributions not reinvested, so actual total return is higher and the drawdown smaller than shown; excess return and tracking error are omitted for that reason. Source: data.go.kr securities market-price API.
Fees & distributions
Fees prior fiscal year · Mirae Asset official disclosure(prospectus)
Distributions Source: Mirae Asset distribution notice
Distributions vary with fund performance; paying out more than income can reduce principal.
Understanding this ETF
The benchmark is the 'KIS CD Index (Total Return),' calculated by Korea Investors Service (KIS), and is based on the CD 91-day rate that banks use when raising funds. The CD rate is a credible short-term rate posted daily by the Korea Financial Investment Association, usually formed a little above the base rate. This index accrues interest each business day by dividing that CD rate into a daily portion, and the ETF tracks that flow directly. As its 'Total Return' name suggests, it reflects performance in which the accrued interest is reinvested.
As an ultra-short-term product with a very short duration (rate sensitivity), its price does not swing much when market rates rise or fall, unlike a bond-type ETF. Instead, as interest accrues each business day by calculating the CD 91-day rate as a daily portion, the price drifts gently upward. When the base rate rises, the CD rate rises with it and more interest accrues; when the base rate falls, interest also decreases. It reflects only domestic rates, so there is no FX effect, and it is not leverage that amplifies the multiple. A point of nuance versus the KOFR type, which uses an overnight rate, is that it uses the 91-day rate.
This is a representative parking-type product with very small price movements and interest that accrues steadily on a daily basis. Unlike deposits and savings accounts, there is no maturity restriction on putting money in or taking it out, so it is convenient for briefly putting idle cash to work. That said, it differs from a deposit with a fixed principal, and being a synthetic method, there is in theory counterparty risk if the swap counterparty securities firm runs into trouble (this is managed with various safeguards). It should also be understood that, tracking an ultra-short-term rate, it is not an asset that grows greatly.
As of the latest reference date (2026-07-13) the closing price was ₩57,870 changing just +0.01% on the day. AUM (net assets) was around ₩3.6 trillion, a fairly large scale, and NAV (net asset value per unit) was around ₩57,859 moving nearly in line with the market price. True to its parking-type nature, it continued a stable trend with almost no daily change as interest accrued.
In a word, this is a 'parking-account-like ETF' that accrues the bank's short-term rate (CD 91-day) as a little interest each day. Because the price barely moves, it is good for briefly stashing money, but just keep in mind that it is not a product that grows greatly and it differs from a deposit with a fixed principal.
Composition
As a 'synthetic' product, it does not directly buy and hold stocks or individual bonds. Instead, it enters into a swap (over-the-counter derivative) contract with a securities firm (counterparty) to receive the CD-rate index return directly, and its assets under management are filled with collateral and cash-equivalent assets that back this up. So there is effectively no disclosed list of individual constituents, and the return comes not from any particular stock but from the CD 91-day rate itself. It is an easy-to-understand interest-accrual structure in which rate income is fixed each day and added to the investment.
Classification
Notes & cautions
- Being a 'synthetic' method, there is in theory counterparty risk tied to the credit of the swap counterparty (securities firm) (managed with collateral and the like).
- Unlike a deposit, it is not a product that promises fixed principal and interest, and if the CD rate falls the accruing interest decreases along with it.
- Unlike a KOFR-type parking product that uses an overnight rate, it is based on the CD 91-day rate, so there is a nuance in how the rate is reflected.
ETF terms explained
Korea FSC securities market-price API (data.go.kr) · ETF classification & tagging: our own descriptive categorization
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