KODEX CD 1Y Rate Plus Active (Synthetic) (481050) 🔎 In-depth

The reference index is the 'KAP 1-Year Bank CD + Additional Rate Index (Total Return),' calculated by Korea Asset Pricing (KAP). This index accrues the daily rate of the 1-year bank CD (certificate of deposit) each day on a compound basis (where interest earns further interest). On top of that, there is a rule that adds an extra daily return equal to 0.5% per year on any day the KOSPI 200 rises by 1% or more (on the day before a holiday, the number of consecutive holiday days is also reflected). So the base tracks the 1-year CD rate, with a small 'plus alpha' layered on days when the stock market rises sharply.

As a parking product rather than a leveraged or inverse one, it does not swing sharply like a stock; instead its value builds up a little each day by the 1-year CD rate. As a result, the chart generally traces a gentle upward drift with very small fluctuations. On days the KOSPI 200 rises by 1% or more, the extra return described above is layered on in a small amount, but even on other days it keeps accruing at least the CD rate. The higher the rate, the faster the accrual; when rates fall, the accrual slows. One way it differs from a plain bond ETF is that, being synthetic, it carries counterparty risk.

This is a 'parking' (short-term cash storage) ETF for setting spare cash aside safely for a while. Return equivalent to interest accrues even on a daily basis, so it is often used to buy and sell as needed and pocket about one day's worth of interest. It is not a principal-guaranteed deposit, but its volatility is very low so the risk of a large loss is relatively small; in return, its expected return is also limited to around the CD rate. As a synthetic product it carries counterparty risk, and just keep in mind that the accrual slows when rates fall.

As of July 13, 2026, the closing price was ₩1,022,620, the NAV (the actual asset value of one ETF share) was ₩1,022,527, and the daily change was +0.01%, very stable. AUM was about ₩2.68 trillion and market capitalization was about ₩2.78 trillion. As is typical of a parking product, its price barely wobbles and continues to rise gently at the CD rate.

In a nutshell, it is 'a product where spare cash you set aside briefly rises a little each day, as if interest were being added at the 1-year CD rate.' Instead of big gains or big losses, a very small extra return is added on days the stock market rises sharply, and just remember it is not a principal-guaranteed deposit.