ACE US 30-Year Treasury Bond Active (H) (453850) 🔎 In-depth

The benchmark index is the 'Bloomberg U.S Treasury 20+ Year TR Index,' created by the US index provider Bloomberg. This index gathers only ultra-long-term issues with remaining maturities exceeding 20 years among Treasuries issued by the US government, and 'TR (Total Return)' indicates that interest (coupon) income is also included in the calculation. US Treasuries are bonds on which the US government repays principal and interest, so they are classified as assets with very low credit risk in themselves. This ETF uses 'physical replication,' actually holding those ultra-long-term Treasuries, while adding an active element in which the manager adjusts to suit market conditions.

This ETF's movement is driven mainly by 'US long-term interest rates.' Because bond prices and interest rates move in opposite directions, when US long-term Treasury yields fall, this ETF's value rises, and when yields rise, its value falls. In particular, because the maturity is very long, its duration is large, so even a small change in rates produces a large price swing (it can fluctuate as much as stocks). Meanwhile, because it applies FX hedging (H), the effect of the won-dollar rate rising or falling is largely offset; instead, costs or gains from the Korea-US interest-rate gap that arise in the hedging process can be reflected in returns. In short, the 'direction of US long-term rates' rather than the exchange rate is the key variable for this ETF.

This is a bond-type ETF used for 'asset allocation and stability,' as it often moves in a different direction from stocks. In a phase of falling rates, its long duration can make for a large price rise, which is attractive, but conversely, in a phase of rising rates, the losses can be correspondingly large. Rather than 'Treasuries equal unconditional safety,' it is more accurate to understand it as a product with low default risk but large interest-rate risk. As an FX-hedged type, it is used when one wants to focus on US long-term rates without worrying about the exchange rate, but one should also be aware that, if the rate direction turns unfavorable, it can fluctuate greatly even though it is a bond.

The closing price on July 13, 2026 was ₩7,335, down 0.61% that day; the NAV was ₩7,359, and AUM (net assets) was about ₩1.56 trillion. The benchmark index closed at 581.21. In 2026 US long-term rates continued a trend of staying at high levels amid inflation and fiscal-burden concerns; if long-term rates stay high or rise further, it weighs on ultra-long-term Treasury prices, whereas if rates fall, there is room for prices to rebound sharply thanks to the long duration. In this way, this ETF's ups and downs are closely linked to the direction of US long-term rates.

In a word, it is 'a basket that invests in very long-maturity bonds issued by the US, with less worry about the exchange rate.' When US long-term rates fall its value rises, and when rates rise its value falls, and the key point is that its long maturity makes it swing greatly with rate changes.