Home > Business > Finance

Mirae Asset's Tiger dividend covered call ETF surpasses 100 billion won

Published: 13 Feb. 2025, 15:24 Updated: 13 Feb. 2025, 16:26

SHIN HA-NEE
[email protected]

Mirae Asset's logo is shown outside Mirae Asset Global Investments headquarters in central Seoul [MIRAE ASSET GLOBAL INVESTMENTS]

Mirae Asset Global Investments' newly listed Tiger exchange-traded fund (ETF) surpassed 100 billion won ($69 million) in net assets, the Seoul-based investment firm said Thursday.

Mirae Asset’s Tiger U.S. Dividend Dow Jones Target Daily Covered Call ETF registered net assets of 125.78 billion won on Wednesday, after surpassing the 100 billion won mark a day prior at 104.5 billion, according to data compiled by Korea Exchange.

The ETF hit the milestone about a month after it began trading on Jan. 21. As of Wednesday, it saw cumulative net buying of 77.3 billion won by retail investors, the highest figure among 36 covered-call ETFs listed in Korea.

The Tiger U.S. Dividend Dow Jones Target Daily Covered Call ETF is a monthly dividend ETF with an annual target yield of up to 12 percent. It is Korea’s first ETF to track the same underlying asset to the Schwab U.S. Dividend Equity ETF, one of the most popular dividend ETFs, while adopting a daily covered call strategy.

Mirae Asset will pay out distribution for the ETF on Feb. 18, with its first distribution payment since the listing set at 99 won per ETF share.

BY SHIN HA-NEE [[email protected]]