ACE KRX Physical Gold (411060) 🔎 In-depth
Korea Investment Management · Commodities · Korea · Commodities · Price 2026-08-06 · Analysis 2026-07-14
This is an ETF that invests in actual physical gold so as to track the movement of the gold price directly. Based on physical gold listed on Korea's exchange (KRX) gold market, it is linked not to equities but to the price of the commodity, gold itself.
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 | -3.81% | -3.79% | -0.02% |
| 3M | -11.93% | -11.88% | -0.05% |
| 6M | -17.59% | -17.48% | -0.10% |
| 1Y | +28.00% | +28.67% | -0.67% |
| 3Y | +133.22% | +138.29% | -5.07% |
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 · Korea Investment Mgmt official disclosure
Distributions
Distributions vary with fund performance; paying out more than income can reduce principal.
Understanding this ETF
It follows the KRX Physical Gold Index. This index represents the price of one gram of 99.99% pure gold traded on Korea's domestic KRX gold market. You can think of it as a 'won-denominated domestic gold price' that reflects both the international gold price (in dollars) and the won-dollar exchange rate together.
The price moves along two axes. One is the international gold price (in dollars), and the other is the won-dollar exchange rate. Because the structure tracks the domestic gold price, the exchange rate is baked in, so if the dollar strengthens, the won-based gold price can rise even when the international gold price is unchanged. The gold price itself moves with factors such as the real interest rate (the rate minus inflation), dollar strength or weakness, geopolitical unease, and expanding gold holdings by central banks around the world.
Because it often moves differently from stocks and bonds, it is commonly used to diversify assets and cushion risk. It draws attention as a 'safe asset,' especially when uncertainty rises. That said, one should clearly understand that gold pays no interest or dividends and that its price swings are by no means small. Contrary to the perception that 'gold is always safe,' it is an asset that can rise and fall sharply over the short term.
The international gold price climbed to the $5,500-per-ounce range in January 2026, marking an all-time high, before falling back to the low-$4,000 range by mid-July. It has undergone a considerable correction from its peak, but compared with a year earlier it remains at a high level. Reflecting this trend, the price of this ETF also came under downward pressure in July 2026.
In a word, instead of buying gold directly and keeping it in a safe, this product lets you buy and sell it like a stock. Its worth depends solely on the gold price (and the exchange rate).
Composition
This is not a product that holds individual company shares; it is a commodity ETF based on physical gold. Accordingly, there is no table of top holdings or sectors, and its value is tied to just one thing: the gold price. Because gold is an asset that pays no interest or dividends, returns come solely from the price rising or falling.
Classification
Notes & cautions
- Because it tracks the domestic gold price, performance reflects not only the international gold price but also won-dollar exchange-rate movements.
- Gold pays no interest or dividends, so if the price does not rise, no return is generated.
- Although it is called a 'safe asset,' its short-term price swings are not small.
- On days when the price moves sharply, a temporary gap (premium/discount to NAV) can open up between the market price and the NAV.
ETF terms explained
Korea FSC securities market-price API (data.go.kr) · ETF classification & tagging: our own descriptive categorization
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