Equity and derivatives venue Korea Exchange (KRX) has launched 12 exchange-traded funds (ETFs) on its platform so far this month, including an instrument that tracks US dollar fluctuations.
The KOSEF USD Futures Inverse ETF, which launched at the beginning of April, is designed to inversely peg net asset value moves with the daily return of the underlying US dollar futures asset.
The net asset value of the KOSEF USD Futures Inverse ETF increases when the value of Korean won appreciates against US dollar, meaning the product can help to protect traders against the risk of exchange rate volatility.
From today, the KRX listed eight new sector-based ETFs, which track each of the sub-sector indices of the KOSPI 200, Korea's main stock index, including an ETF based on the stocks of the construction equipment industry.
Furthermore, on 8 April, KRX will launch the Bluechip 30 ETF – based on the MKF Bluechip30 index – the Industrial Metal Futures ETF, which is based on the S&P GSCI Industrial Metals Select Index, and the Precious Metals Futures ETF, which uses the S&P GSCI Precious Metals Index as its underlying.
The new additions take the number of ETFs offered by the KRX to 86 in total, with 22 new ETFs listed this year.