ACE US Nasdaq 100 (367380) 🔎 In-depth

The benchmark index is the Nasdaq 100 (NASDAQ 100). It is made up of the 100 largest and most actively traded companies listed on the US Nasdaq market, excluding financial firms. Growth companies in technology, communications and consumer sectors dominate, which is why it is widely used as a benchmark for high-quality US growth stocks. The ETF follows the index using full physical replication, actually buying and holding those 100 constituents.

The ETF's price is driven mainly by two things. The first is the share prices of the US technology names in the Nasdaq 100, and the second is the won-dollar exchange rate. Because it is an FX-exposed product with no hedge, even when the index rises a stronger won (weaker dollar) can trim part of the gain, while a stronger dollar can add a currency gain even if the index is flat. In other words, when US stock prices and the exchange rate rise together the return grows, and when they diverge they can offset each other. It is not a leveraged product; it tracks the index at 1x.

It is often used as a core holding for participating in the long-term growth of US growth stocks, but it carries the two-sided nature of heavy concentration in a few mega-caps. When Big Tech is doing well it can outpace the broad market, yet when technology stocks wobble the drawdown can also be larger. On top of this comes the currency variable: even if the US market is strong, a sharp appreciation of the won can reduce the return measured in won. It is best approached with an understanding that its technology concentration is higher than an S&P 500-type fund that holds the entire US market.

As of the most recent date (2026-07-13) the closing price was ₩33,705, down a modest -0.40% on the day. Assets under management (AUM) were about ₩3.7776 trillion, and NAV (net asset value per share) was about ₩34,155. Around this time the Nasdaq 100 benchmark was trading in the upper part of its 52-week range amid expectations of expanding AI investment, and the attention that had been driving the index broadened from Nvidia alone to other Big Tech names such as Apple and Alphabet. Whether the large-scale AI investment actually translates into earnings, however, is cited as a variable that will shape the direction ahead.

In short, this product holds 100 US Big Tech names such as Apple, Nvidia and Microsoft all at once. It gives broad exposure to US growth stocks, but it is concentrated in a handful of mega-cap technology names, so it moves sharply along with them, and because there is no FX hedge, the won-dollar exchange rate also affects returns.