KODEX KOSDAQ150 ETFs See Sharp Surge in Individual Inflows in December

496.4 Billion Won Inflows from Individuals into KODEX KOSDAQ150 and Leverage ETFs
Expectations Rise for Revaluation of Undervalued KOSDAQ

On January 2, the first trading day of the new year, the KOSPI surpassed the 4,300 mark, setting an all-time high. As a result, market attention is shifting toward the KOSDAQ, which is considered relatively undervalued. This is due to an increasing number of investors expecting a "catch-up" rally with the KOSPI, fueled by the government's policies to revitalize the KOSDAQ market.

On January 5, Samsung Asset Management announced that the combined net purchases by individual investors in December for two ETFs tracking the KOSDAQ market's benchmark index-the "KODEX KOSDAQ150" ETF and the "KODEX KOSDAQ150 Leverage" ETF, which tracks twice the daily return of the index-reached 496.4 billion won.

By product, individual net purchases amounted to 149.2 billion won for the KODEX KOSDAQ150 and 347.2 billion won for the KODEX KOSDAQ150 Leverage. The KODEX KOSDAQ150 ETF surpassed 1.6 trillion won in net assets, marking a record high since its listing.

The decisive trigger for the capital inflow was the "Measures to Enhance Trust and Innovation in the KOSDAQ Market" announced by the Financial Services Commission on December 19. As the government moved aggressively to support the KOSDAQ, investors seeking to benefit from the policy acted swiftly.

In fact, since late November last year, when rumors of the policy announcement began to circulate, individual investors' buying momentum grew significantly. For the KODEX KOSDAQ150, the net purchases by individuals in December alone totaled 149.2 billion won, exceeding half of the 259 billion won annual net purchases by individuals in 2025. Banks and insurance companies also made net purchases of 56.1 billion won and 35.1 billion won, respectively, further supporting the potential rebound of the KOSDAQ market.

Confidence in a bull market was even more pronounced in leveraged products. The KODEX KOSDAQ150 Leverage ETF recorded net purchases of 347.2 billion won in December, ranking third among all ETFs after two U.S. S&P500 products, and first among domestic ETFs.

The rush to the KOSDAQ is driven by its relative undervaluation. Last year, while the KOSPI200 index soared by 90.7% to open the 4,000 era, the KOSDAQ150 index rose only 37.0%. In addition, the recent "Measures to Enhance Trust and Innovation in the KOSDAQ Market" include the introduction of a "customized technology exception listing system" for national core technology companies in fields such as AI, space industry, and energy, raising expectations for structural improvement and further growth in the KOSDAQ market, which has a high proportion of new growth industries.

Beyond policy issues, leading KOSDAQ companies in semiconductors, robotics, and bio-healthcare are also expected to maintain their export momentum and growth outlook this year, increasing their investment appeal.

Lee Daehwan, a manager at Samsung Asset Management, said, "While the KOSDAQ was relatively neglected compared to the record-breaking rise of the KOSPI last year, its undervaluation became more apparent, and the government's revitalization policies have spread investment sentiment. As policy momentum is expected to strengthen this year, investors can consider an active investment strategy through the 'KODEX KOSDAQ150 Series,' which allows them to invest in the overall market direction rather than individual stocks."