KODEX CD Rate Active (Synthetic) (459580) 🔎 In-depth
Samsung Asset Management · Rates · Parking · Korea · Rates · Parking · Price 2026.07.13 · Updated 2026-07-14
A 'parking' ETF for setting short-term cash aside for a while. It is designed to track the rate on certificates of deposit (CDs), which banks use to raise funds, so its value builds up a little each day by roughly one day's short-term interest. It is managed by Samsung Asset Management, and rather than holding physical bonds directly, it uses a synthetic approach that receives the CD-rate return through a swap contract with a securities firm.
Price as of 2026.07.13 close
Understanding this ETF
The benchmark index is the 'KAP Certificate of Deposit (CD) Rate Index (Total Return Index).' A CD is a short-term deposit-type certificate issued by banks, and its rate is one of the representative very-short-term market rates. The index is calculated by continually adding one day's interest equal to that day's CD rate (a total return index), which is why the index value drifts gently upward over time.
The price shows a pattern of rising just a tiny bit each day, by roughly one day's interest equal to the CD rate, without big swings. Instead of paying that interest out separately as a distribution, the interest is folded into the price so it drifts upward, which means the daily change often shows close to 0%. As a domestic asset, there is no currency effect. However, because it is synthetic, there is a theoretical risk that the swap counterparty (the securities firm) fails to honor the contract (counterparty risk), which is typically reduced substantially through collateral.
Its price moves extremely little compared with stocks, making it stable, and because it has no maturity, even a single day of holding reflects that day's interest, which is an advantage. It is commonly used to park idle funds or run short-term cash for a while. On the other hand, if the CD rate itself falls, the interest that accrues falls with it, and you should be clear that this is not a product to expect large gains from like a stock. In addition, trading costs such as brokerage fees and bid-ask spreads can feel relatively large against the interest earned, so it is not suited to frequent buying and selling.
How much interest accrues each day depends on the level of short-term market rates. When rates are high, its appeal as a parking vehicle grows, and when rates fall, the expected interest declines accordingly.
In a nutshell, it is an ETF that works like a 'very-short-term interest account' you can trade like a stock. Rather than chasing big gains, it is used to add a little interest each day to money you have parked briefly.
Holdings & weights
Unlike a typical stock or bond ETF, it does not hold individual securities. Instead, it enters a swap contract with a counterparty securities firm, agreeing to receive the 'CD rate index return.' Its holdings are therefore made up mainly of the swap contract and the collateral-type assets that back it. It has essentially no exposure to any particular company or sector; by nature, it is linked only to interest rates.
This fund mainly holds bonds, cash-equivalents or similar instruments rather than individual stocks. The description above explains what it holds; the full line-item breakdown is on the Korean page.
Classification
Notes & cautions
- Because it is synthetic (swap-based), counterparty risk from the securities firm exists in theory and is mitigated by collateral.
- Since interest is reflected in the price as it rises, there may be no separate distribution or only a very small one.
- If the CD rate falls, the return that accrues falls with it.
ETF terms explained
Korea FSC securities market-price API (data.go.kr) · ETF classification & tagging: our own descriptive categorization
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