HANARO Fn K-Semiconductor (395270) 🔎 In-depth

The benchmark index is the 'FnGuide K-Semiconductor Index,' calculated by FnGuide. It selects and holds companies classified in the semiconductor industry among domestically listed companies, chosen by market value and liquidity, spanning the industry overall from memory and non-memory to semiconductor equipment, materials and parts. The ETF follows the index directly through full physical replication, actually buying and holding the index constituents.

Because it is gathered in the single semiconductor sector, this ETF moves with the semiconductor industry cycle and large-cap share prices. When memory prices rise and demand grows for AI semiconductors such as HBM (high-bandwidth memory), the related companies' shares rise and the ETF rises with them; conversely, when the industry cycle turns down, the drawdown can also be larger. Because it holds only domestic names it has no direct exchange-rate effect, but as semiconductors are an export industry, it is sensitive to global demand and the industry cycle. It is not a leverage product that magnifies the multiple; it tracks the index at 1x.

This is a growth and thematic product that 'rises sharply along with semiconductors when they do well.' When the industry enters an upcycle, returns above the market average can be expected, but because it is concentrated in a few large-caps and a single sector, its volatility is large and its drawdown can be deep when the industry cycle worsens. It has the effect of spreading investment across the whole industry, relieving the burden of picking a single semiconductor name, but it should be viewed together with the fact that its risk is not diversified across many sectors the way a broad market index is.

As of the most recent date (2026-07-13) the closing price was ₩49,200 down sharply -14.44% on the day. Assets under management (AUM) were about ₩3.1 trillion, and NAV (net asset value per share) was about ₩49,311. Around this time the semiconductor industry was in a phase where strong, memory-centered rise expectations continued against a backdrop of expanding AI infrastructure and growing HBM demand, and a product concentrated in a single sector like semiconductors can show large daily swings when such expectations and pullbacks come and go.

In short, it is a product that holds all of 'K-Semiconductor,' from Samsung Electronics and SK Hynix to semiconductor equipment and materials companies. It can rise sharply along with a good semiconductor industry cycle, but keep in mind that because it is concentrated in a single industry and a few large-caps, its swings tend to be large.