Mirae Asset Securities Launches Two Leveraged ETNs on VIX Futures and Gold Spot

Mirae Asset Securities announced on May 22 that it will list Exchange Traded Notes (ETNs) based on VIX futures and gold spot indices on the Korea Exchange.

The newly launched products are: ▲ Mirae Asset S&P500 VIX S·T Futures ETN(H), which has a management fee of 0%, and ▲ Mirae Asset Leverage KRX Gold Spot ETN, which has an annual management fee of 0.8%. Both products can be traded like ordinary stocks after the listing date.

The Mirae Asset S&P500 VIX S·T Futures ETN(H) uses the VIX Short-Term Futures Index of the Chicago Board Options Exchange (CBOE) as its underlying asset and tracks the daily return at a 1x rate. The VIX index reflects the market's expectations for the volatility of the S&P500 index over the next 30 days and is commonly called the "fear index" because it tends to rise during periods of stock price decline. Therefore, this product allows investors to expect returns in situations where market volatility increases. The management fee is set at 0%, and currency hedging is applied to reduce foreign exchange risk.

In addition, Mirae Asset Securities already operates the Mirae Asset -0.5X S&P500 VIX S·T Futures ETN(H)B. This product tracks the same index at -0.5x in the opposite direction, allowing investors to expect returns when market volatility decreases. The management fee for this product is also 0%.

Also listed on the same day, the Mirae Asset Leverage KRX Gold Spot ETN tracks twice the return of the KRX Gold Spot Index calculated by the Korea Exchange. It is the only gold spot 2x leveraged product among Exchange Traded Products (ETPs) listed on the Korea Exchange. The underlying index is based on the KRX Gold Spot 1kg product listed on the Korea Exchange, and the net return is calculated by deducting the custody fee of the Korea Securities Depository from the price return.

A representative from Mirae Asset Securities said, "The VIX ETN product is offered with a 0% management fee, providing strong competitiveness for investors," adding, "We plan to continue offering a variety of products that meet our clients' investment needs going forward."