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Sun, Apr. 27, 3:25 AM
- South Korean markets are set to be on watch tomorrow following the resignation of Prime Minister Chung Hong-won in the wake of his government's much criticized response to the ferry disaster. President Park Geun-hye has accepted Chung's resignation.
- Over 300 people have died or are missing and presumed dead after the ship sunk on a routine trip on April 16, with most of them being high-school students and teachers. Initially, it was announced that all the pupils had been rescued.
- ETFs: EWY, FKO, KORU, DXKW, KORZ, HKOR, DBKO
Mon, Mar. 3, 3:02 PM
- After launching 2 S&P 500 centric ETFs within the last 9 months, Horizons is expanding its reach and bringing the the Horizons Korea KOSPI 200 ETF (HKOR) to market on March 4th.
- The ETF will track the KOSPI 200 Index, a free-float-adjusted, market-capitalization-weighted index comprising 200 blue chip companies listed on the Korea Stock Market.
- With an expense ratio of 0.38% HKOR will be the least expensive South Korean investment vehicle in the ETF universe.
- Other ETFs with pure exposure to South Korea: EWY, FKO, KORU, DXKW, KORZ, DBKO
Mon, Feb. 24, 11:03 AM
- Hardest hit of late among regional currencies by the tumble in China's yuan is South Korea's won, reflecting the growing trade between the two countries. Correlations between the yuan and won have grown increasingly tighter over the past year, says Credit Agricole global currency chief Mitul Kotecha, and other Asian currencies have even become negatively correlated with the Chinese unit.
- Morgan Stanley data shows export exposure to China accounts for 13% of South Korean GDP - high, but not as much as Singapore (20%) and Taiwan (17%).
- South Korean ETFs: EWY, FKO, KORU, DXKW, KORZ, DBKO
Fri, Jan. 31, 6:59 PM
- The iShares Currency Hedged MSCI Japan ETF (HEWJ) and Germany ETF (HEWG) will hold a portfolio of large- and mid-cap Japanese and German equities (respectively), while mitigating exposure to fluctuations between the value of the Japanese yen and euro (respectively) against the U.S. dollar.
- The iShares Currency Hedged MSCI EAFE ETF (HEFA) represents a more global approach and will hold a portfolio of large- and mid-cap equities in Europe, Australasia, and the Far East, while mitigating exposure to fluctuations between the value of the component currencies and the U.S. dollar.
- This sector of the ETF universe is currently dominated by WisdomTree (WETF) and Deutsche Bank (DB) sponsored funds.
- Other currency hedged equity ETFs: DBJP, DXJ, HEDJ, DXJS, DXPS, DXGE, DXKW, DBJP, DBEF, DBAP, DBUK, DBEU, DBGR, DBEM, DBKO, DBMX, DBAW, DBBR
Wed, Jan. 22, 4:18 PM
- The db X-trackers MSCI All World ex U.S. Hedged Equity Fund (DBAW) is designed to provide exposure to the global ex U.S. equity markets, both developed and emerging, while mitigating exposure to the fluctuations between the U.S. dollar and a basket of global currencies.
- The db X-trackers MSCI South Korea Hedged Equity Fund (DBKO) is designed to provide exposure to the South Korean Equity markets, while mitigating exposure to the fluctuations between the U.S. dollar and South Korean won.
- The db X-trackers MSCI Mexico Hedged Equity Fund (DBMX) is designed to provide exposure to the Mexican Equity markets, while hedging exposure to the fluctuations between the U.S. dollar and Mexican peso.
- All 3 funds will begin trading on January 23rd.
- Other ex U.S. ETFs: VEU, VXUS, SCHF, IXUS, ACWX, CWI, GWL, AADR, RTR, ACIM, VIDI
- Other ETFs covering South Korea: EWY, FKO, KORU, KORZ, DXKW
- Other ETFs covering Mexico: EWW, UMX, SMK
Thu, Jan. 2, 10:40 AM
- The Korean won's strong performance over the last six months is leading a growing number of analysts to worry Samsung's (SSNLF, SSNGY) Q4 results will miss estimates.
- The company's chip business is especially vulnerable to forex swings, since it relies on dollars for order settlement. BNP Paribas estimates every 1% change in the won/dollar exchange rate hurts the op. profit of Samsung's chip division by 4%.
- Citing exchange rates and (to a lesser extent) margin pressure for Samsung's OLED display business, IBK Investment is now expecting the electronics/display/chip giant to post a Q4 op. profit of KWT9.5T ($9.04B), below a KWT10.3T Thomson Reuters consensus.
- Korean automakers Hyundai (HYMLF -5.1%) and Kia (KIMTF -6.1%) also fell hard in Seoul overnight. South Korea's benchmark KOSPI index fell 2.2%.
- Korean ETFs: EWY, FKO, KORU, KORZ, DXKW
Nov. 5, 2013, 2:57 PM
- Ready to open for trade on Thursday is WisdomTree's (WETF +0.8%) Korea Hedged Equity Fund (DXKW), which is set up to offer exposure to Korean stocks without being subject to the won's fluctuations.
- The DKXW joins currency-hedged European (HEDJ) and German (DXGE) ETFs launched by WisdomTree this year as the company looks to build on the wildly successful Japan Hedged Equity Fund (DXJ).
- With $4.4B in AUM, iShares' MSCI South Korea Capped ETF (EWY) is currently the most popular way for U.S. investors to get South Korean exposure through ETFs. It does not hedge against currency swings.
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DXKW vs. ETF Alternatives
WisdomTree Korea Hedged Equity Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Korea Hedged Equity Index. The Fund employs an investment approach designed to track the performance of the WisdomTree Korea Hedged Equity Index. The Index and the Fund are designed to provide exposure to equity securities in Korea, while at the same time hedging exposure to fluctuations between the value of the U.S. dollar and the Korean Won. The Index and the Fund seek to track the performance of equity securities in Korea that is attributable solely to stock prices without the effect of currency fluctuations.
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