SOL Miguk Baedang Dow Jones TR ETF Renamed to 'SOL Miguk Baedang Dow Jones No.2'

Shinhan Asset Management announced on May 22 that it will change the name of the SOL Miguk Baedang Dow Jones TR Exchange-Traded Fund (ETF) to 'SOL Miguk Baedang Dow Jones No.2.' The name change accompanies a switch from an automatic reinvestment of distributions to a monthly distribution method.

Starting with the first distribution on June 16, distributions will be paid out in the middle of each month. The total expense ratio will also be reduced from the previous annual rate of 0.05% to 0.01%. These changes will take effect from May 30.

According to the tax law amendment announced by the Ministry of Economy and Finance in January, the retention range for distributions of overseas equity-type TR (Total Return) ETFs will be reduced, and interest and dividend income must be settled and distributed at least once a year.

A Shinhan Asset Management representative stated, "The SOL Miguk Baedang Dow Jones No.2 ETF will be managed in the same way as the SOL Miguk Baedang Dow Jones, which distributes at the beginning of each month. By investing in both products, investors can receive distributions twice a month." The representative added, "In consideration of investor protection and tax fairness, the total expense ratio has also been adjusted from 0.05% to 0.01%."

SOL Miguk Baedang Dow Jones, a leading domestic dividend growth ETF, has been paying distributions in line with SCHD (Schwab US Dividend Equity ETF) since its listing in 2022. Last year, its annual dividend yield was 3.65%, identical to that of SCHD.

Shinhan Asset Management is working to diversify the options available to investors in U.S. dividend growth stocks through its four-product 'SOL Miguk Baedang Dow Jones ETF Series.'