Mirae Asset Changes Names of 9 TIGER Covered Call ETFs

Mirae Asset Global Investments announced on the 25th that it will change the names of nine TIGER Covered Call ETFs.

Mirae Asset Global Investments will change the names of nine TIGER Covered Call ETFs to reduce the possibility of investor misunderstanding caused by the target distribution yield and income structure in the existing ETF names, thereby strengthening investor protection.

In the names of TIGER Covered Call ETFs, ‘+% Premium’ will be replaced with ‘Target Covered Call.’ Unlike general covered call ETFs that sell 100% of call options, ‘+% Premium’ refers to a strategy that adjusts the proportion of option sales to maintain a target premium, reflecting the product characteristics of ‘Target Covered Call’ ETFs.

‘TIGER US Dividend +3% Premium Dow Jones’ will be renamed ‘TIGER US Dividend Dow Jones Target Covered Call 1,’ and ‘TIGER US Dividend +7% Premium Dow Jones’ will be renamed ‘TIGER US Dividend Dow Jones Target Covered Call 2.’ ‘TIGER US Tech TOP10 +10% Premium’ will also be reorganized as ‘TIGER US Tech TOP10 Target Covered Call.’ For ‘TIGER US 30-Year Treasury Premium Active (H),’ ‘Premium’ will be replaced with ‘Covered Call,’ changing the name to ‘TIGER US 30-Year Treasury Covered Call Active (H).’

For two TIGER ETFs utilizing ultra-short-term options that sell options with 24 hours to maturity daily, ‘ultra-short-term’ will be replaced with ‘daily.’ ‘TIGER US S&P 500 +10% Premium Ultra-Short-Term’ and ‘TIGER US Nasdaq 100 +15% Premium Ultra-Short-Term’ will be renamed ‘TIGER US S&P 500 Target Daily Covered Call’ and ‘TIGER US Nasdaq 100 Target Daily Covered Call,’ respectively.

The names of three other ETFs will also be changed: ‘TIGER 200 Covered Call 5% OTM’ to ‘TIGER 200 Covered Call OTM,’ ‘TIGER 200 Covered Call ATM’ to ‘TIGER 200 Covered Call,’ and ‘TIGER Dividend Premium Active’ to ‘TIGER Dividend Covered Call Active.’

Aside from the name changes, the operational strategies, target distribution yields, and income structures of these nine ETFs will remain unchanged. Detailed information can be found on the Korea Exchange and the official TIGER ETF website under investor guidance.

Kim Su-myeong, Senior Manager of the Strategic ETF Management Division at Mirae Asset Global Investments, explained, "To protect investors, we have actively complied with the Financial Supervisory Service’s guidelines on covered call ETFs and have collectively changed the names of nine TIGER Covered Call ETFs." He added, "Detailed information on each ETF’s strategy and distribution policy can be found on the TIGER ETF website, and we will continue to strive to enhance investors’ understanding of TIGER Covered Call ETFs."

Mirae Asset Global Investments is conducting a name change event for the ‘TIGER Monthly Dividend Covered Call ETF.’ Until October 8, among the nine ETFs with changed names, participants who answer the quiz correctly for the monthly dividend ETFs will be entered into a draw to receive gifticons. Detailed event information is available on the TIGER ETF website.