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Hello, this is 1 Gam. The love Koreans have for semiconductors is truly immense. Just looking at domestic stocks, the number of people investing in Samsung Electronics is enormous. However, as I mentioned, this love for semiconductor investment among Koreans applies only to domestic stocks. It applies equally to the US stock market.
You can see just how great this love for semiconductors is through the investments of Korean investors. Based on total net stock purchases from April 6 to the 10th, among the concerns, there are global semiconductor-related stocks. Specifically, regarding the semiconductor industry of 1, 2, and 3, we could see that domestic investors are investing heavily in semiconductor companies to the extent of Nvidia.
However, as you all know, the current stock price trends of semiconductor companies are not very good. This is because the entire market is declining. This decline is particularly strong in semiconductor companies. Because of this, the average reference point probability for semiconductor companies currently reaches a whopping 35%.
So, then, why are US semiconductor investors falling like this? There seem to be four main reasons why semiconductor companies are showing weakness. The first is demand. The concern regarding the decline is increasing. Recently, there have been concerns that demand in the global PC market is increasingly shrinking.
In fact, looking at the second-quarter PC market, demand is showing signs of gradually decreasing compared to previous periods. As worries grow that this could have a negative impact on the semiconductor market, the stock prices of semiconductor companies are falling in advance. Furthermore, over the past month, the supply of goods from China has been disrupted.
Due to this, a significant portion of global logistics in China has been halted, and consequently, products manufactured in China and various raw materials could not be supplied globally. This has accelerated global logistics disruptions, and supply chain issues are one of the main reasons for the ongoing semiconductor market.
Next is the rise in raw material prices following the war between Russia and Ukraine. As these high raw material prices persist, semiconductors require a vast amount of raw materials. As the prices of these raw materials rise, semiconductor manufacturing costs are also rising. Consequently, concerns are growing that the profitability of each company could deteriorate, which is currently driving the decline in stock prices.
Finally, the point is that the U.S. tightening is accelerating. Right now, from May 3rd to 4th, there is a fixed price for FMC Gain. During this period, the government aims to raise interest rates above 0.5%. Furthermore, the market is practically predominantly predicting that a "Giant Step 2" could occur in June and July, with interest rates dropping by as much as 0.75%.
The fact that interest rates are rising and the tightening process is accelerating means that growth stocks—specifically semiconductor companies—which saw a sharp rise during the low-interest rate era, are having a positive impact on their stock prices. Therefore, this tightening trend is having a significant effect on the current weakness in semiconductor stock prices.
However, I mentioned earlier that Koreans bought a huge amount of semiconductor ETFs and stocks in April. Despite this, why are semiconductor companies still so popular and why are people buying semiconductor stocks? It is precisely because the semiconductor industry has delivered the best performance over the past six years.
From 2013 to 2022, the stock prices... Looking at the trends, let's compare the returns of representative semiconductor ETFs such as AT, FNT, SOX, and TIF 102, TIF 102, Q, and finally, BEST MP5 and Deep SPY. Starting from 2016, as the stock price returns of the semi-debt ETF NFIX 5 PAC SEX gradually increased, we could see that these returns followed, becoming overwhelmingly higher compared to tapes.
This indicates that the semiconductor industry has shown much greater strength over the past six years than other industries. People are buying a lot of semiconductor stocks because they believe this strength will continue once the current stock market correction ends. As everyone knows, the next 10 years are the era of the Fourth Industrial Revolution.
It is expected that technological revolutions, such as autonomous driving, artificial intelligence, the metaverse, and the advanced bio industry, will increasingly come closer to us. What is essential for this technological revolution is the semiconductor. That is why the saying that semiconductors are the future's second generation is frequently heard.
As such, because semiconductors are truly an essential presence for us over the next 10 years, Ando Chik The dominant market view is that these sectors will continue to show strength over the next 10 years of the Fourth Industrial Revolution. Therefore, the semiconductor industry is bound to see significant growth, and this is the reason why people continue to invest heavily in semiconductor companies.
Now, let's move on to today's main topic: comparing the leading semiconductor companies in the United States. While there are many representative semiconductor companies in the U.S., if we were to pinpoint the most famous ones, they would be SXX, SM, Hex, and PSD. SXX stands for Semiconductor Semiconductor ETF, SMH stands for Ship and Gold Converter ETF, and finally, PSD stands for SP, DR, SMP, and Semiconductor ATP.
Now, let's take a closer look at these ETFs one by one. First is SOXX. SOX is an ETF listed in July 2011 that is currently one of the most popular in the U.S. and is also one of the most well-known ETFs among Koreans. It is operated by BlackRock, one of the top three auto-industrial stocks, and is currently somewhat managed in ADF.
The asset size is 7.3 *, reaching a level of approximately 9.3 in Korean Won. Furthermore, the ESO XX is characterized by estimating the representative semiconductor index, the NICE Semiconductor Index. To explain this in more detail, it is most widely known as the one formerly known as the Philadelphia Semiconductor Index, which is a modified version of the semiconductor index.
To elaborate on the features of the SOS XX, first, it invests in 30 listed semiconductor fundamental companies. As a modified market capitalization-weighted index tracking system, the portfolio weight of each company is adjusted according to the etching phase. The next feature is that there is a portfolio weight limit of a maximum of 8% for the top 5 companies and a maximum of 4% for other companies.
Additionally, it has the characteristic of investing only in companies with a market capitalization exceeding at least 1 trillion KRW. Finally, it invests in 7 ADR-listed companies, including overseas companies listed on the US market. The operating rate of the SOS XX is 0.43%. Also, the PEN 33 ETF roughly represents the average level of semiconductor companies.
The dividend yield is 0.62%, and it pays quarterly dividends. Looking at the returns, the 5-year return is 219 percent, which is the highest long-term return among the semiconductor ETFs we will examine today. It recorded high returns by showing tremendous strength from 2016 to 2021. Considering that this return accounts for the recent correction in US stocks, we can see that it recorded much higher returns from 2016 to 2021.
Next, let's look at the detailed portfolio of SOX. Currently, SOX invests in a total of 32 companies. However, the top 15 companies account for 76% of the weighting; in fact, the stock price movements of these 15 companies can be seen as determining the value of the SOXS ETF. Looking at the portfolio in more detail, Broadcom, Gambit, and IAN have the highest weighting.
It is high, and next, we could see major semiconductor companies such as AMD, Qualcomm, Texas Instruments, and Analog Devices continuing to perform well. Generally, the stock allocation is fairly even, and one of the biggest features of SXX is that it invests primarily in US companies. Then, let's move on to the next ETF, NS and MHL.
SMH is a well-known ETF listed in May 2000 and is currently the largest semiconductor ETF listed in the US. It is operated by 6 EFE, NET, and ISA, and the current operator prize money is 8.2 billion, which is approximately 10.4 trillion. In the case of this one, it estimates the MV, IS, ESSEX, TE, and Conductors 25, but it can also be seen as estimating the top 15 semiconductor companies listed on the US stock market.
Looking at its features in more detail, it invests in only 5 companies, as there are no semiconductor companies listed in the US, and it has the characteristic that more than 50% of a company's revenue must be related to semiconductors to be included in the ETF. And there is portfolio adjustment based on the 3-month average trading volume of the general affairs department and anti-manipulation measures.
Finally, there is a feature that allows investment in overseas companies listed on the US stock market. In the case of SMH, the operating margin is 0.35%. The 2 DF Epi level is at 28, and regarding 32, in B, regarding some so xx, it can be said that the well-structured Billionaire is slightly higher.
As for the dividend yield, it is 0.5%, and this one has the feature of paying a dividend only once a year per losing streak. In the case of Sil, the return over the past 5 years reaches 210%. It is a return almost similar to some xxx, at 219 percent; if we do not account for the recent correction in the US stock market, the return would have been much higher, and since the beginning of the year, the return is -22%, which is relatively low.
So now, finally, we need to look at the detailed portfolio. In the case of SMH, it invests in a total of 26 companies, and among them, the weight of the top 15 companies is 79%. Essay MH To discuss the second most significant feature, it is the relatively massive weighting of foundry companies and semiconductor equipment stocks.
First, TSMC of Taiwan, the most famous foundry company, had the largest weighting at 10.31%. Additionally, we observed relatively high weightings for ASM, Lam Research, and Applied Materials—often referred to as the "Big Three" in semiconductor equipment. Furthermore, the portfolio is composed of components, with a significant portion of companies like Texas Instruments and Nvidia.
We could also see that the portfolio manager has a distinctly different direction compared to the xxx we examined earlier. Finally, let's look at the XSD TF. XD is a semiconductor ETF that is relatively less known to us, having been listed in January 2006. It is managed by State Stress, one of the top three asset management firms, and its current assets under management are approximately 1.1 billion (roughly 1.4 billion), indicating that its operational scale is significantly smaller than the two TFs we looked at earlier.
To discuss the most significant feature of this one, it is the SMP The key point is that it tracks semiconductor companies included in the SMP 500. In other words, we can say that it invests only in semiconductor companies within the SMP 500. Let's delve a little deeper into its characteristics. First, regarding XD, as I mentioned, it invests exclusively in semiconductor companies within the SMP 500.
Thanks to this, it has the characteristic of investing only in U.S.-based companies. Also, regarding the quarterly portfolio selection, lastly, you can see that the portfolio weighting of the companies included in the core investment side is actually quite similar. Now, in the case of XD, the annual yield is 0.35%.
The overall P&I of the ETF is at the 23 level, and you can see that the figure is slightly lower than the two ETFs we looked at earlier. Therefore, if you consider only valuation, it can be a more attractive situation. Lastly, the dividend yield is at the 0.22% level, so if you are actually considering dividends, it would be better not to invest in the 2D Pro N2.
Now, looking at its return rate, the 5-year return is 102%, compared to the three It is recording the lowest return among 2D ETFs. On the other hand, its year-to-date return is showing the largest negative figure at minus h%. Therefore, if we look solely at high returns, it can be said that the attractiveness of this ETF is relatively lower compared to the two DPLs examined earlier.
In the case of this one, it actually invests in a total of [number] companies, and the weighting of the top 15 companies is not [41%]. This means it invests relatively more evenly across all stocks. Looking at the characteristics of the portfolio, it invests heavily not only in blue-chip stocks but also in small and medium-sized companies.
It places a weighting of 42% on blue- chip stocks with a market capitalization of less than 23%, and a weighting of nearly 60% on small and medium-sized companies with lower market capitalization. In other words, we can infer that it invests with a similar weighting in all semiconductor companies belonging to the SMP 500.
Now, if we look closely at the SMP 500, we can see that there are so many semiconductor companies; among these, actually, what we [well] The companies you are familiar with would likely be Ham, BD, A, Broadcom, Intel, Qualcomm, AM, Didigo, Micron, and Texas Instruments. However, in the case of 100-Year SD, it invests in companies we are not well aware of, and continues to invest until it reaches the market cap.
In other words, it has an evenly diversified investment weighting across market capitalization, liquidity, assets, and pneumatics. Because of this, most companies hold a weighting in the 2% range. However, due to the nature of investing only in companies included in the SMP 500, not a single foreign company like TSMC or ASML is visible.
To summarize, it is an ETF that invests with almost equal weighting regardless of which specific company is included in the SMP 500A, even among my US portfolios. So, we have looked into the "Big Three" semiconductor ATFs, which are the most representative in the market. Now, I will conclude this video by discussing the main characteristics of these funds.
First, in the case of SOX, its assets under management are approximately 9.3 trillion, and its capitalization is 0.3%. It is slightly higher compared to other ETFs with a 0.35% return. However, in the case of Inseop, its main characteristics can be assessed as having the highest historical returns and a relatively high dividend yield.
Another characteristic is that it invests primarily in representative blue-chip stocks. SMH has the largest scale with 20.4% in assets under management, and Dangdanghae has the longest history, established in 2000. Additionally, it holds the largest number of stocks with 50, while Lee Hyun-seok places a significant weight on foundry and semiconductor equipment stocks.
Finally, XD was listed in 2006, giving it a relatively short history, and with an operating ratio of 1.4%, we could see that its asset size is significantly smaller than the two ADVs examined earlier. Furthermore, regarding dividend results and 5-year returns, it showed a somewhat worse performance compared to other ETFs.
In the case of Ira, it is part of the SMP 500A, investing only in US semiconductor companies, and in the future, it plans to invest evenly in small and medium-sized companies as well. There was the point that... When looking at this, I personally judged that investing in SXT and PATH MH2 is a better choice.
Since these two ETFs aim for different portfolios and directions, it doesn't really matter whether you want to place a higher weighting on semiconductor foundry and equipment stocks, or simply invest evenly in representative blue-chip semiconductor stocks and choose Kepler based on the 10-year timeframe.
The semiconductor ETF I mentioned at the very beginning is one of the US stock ETFs that people love the most. As such, regardless of your choice, I hope the returns on these TFs will continue to rise in the future and that many people will achieve significant profits through them. 5 eu eu u
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