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1 Asia Pacific ETFs (2016 년 2 월 I) 변동성확대와자산감소 단기 Panic 상태 : 2016 년 1 분기글로벌금융시장은중국발외환불안정과유가급락 (1 월 ), 유럽은행권신용위험우려와선진국외환변동성급등 (2 월 ) 으로인해 Panic 상태에진입하였음. MSCI Asia 주가지수는전년말대비 2 월현재 -10.9% 의하락세를기록하였으며, 같은기간 MSCI DM(-9.4%) 보다약세를보였음. 역내개별국가에서도주가약세가큰폭으로나타났음. 지난연말대비 2 월 15 일까지중국상해종합은 - 22%, 일본 NIKKEI225 는 -16%, 홍콩항셍지수는 -13% 의하락세를기록하였음. 상대적으로한국 KOSPI 는 -5% 의하락에그쳤으며, 태국 SET 는보합권을유지하였음. 전균 Analyst gyun.jun@samsung.com 김수명 Research Associate soomyung.kim@samsung.com 자산규모감소 : 주식시장의급락으로아시아태평양지역 ETF 의자산가치가전반적으로감소하였음. 역내 ETF 자산규모는 1 월말 2,485 억달러에서 2 월현재 2,339 억달러로 146 억달러의감소를기록하였음. 가장큰규모의자산감소를기록한시장은일본으로 133 억달러가감소하였음. 주로시장대표지수 ETF 에서자산가치하락이크게발생하였으며, 주가하락에따른현상으로추정됨. 홍콩시장에서는 10 억달러의감소가관찰되었음. 한편자산별로는주식형 ETF 가 1 월말대비 2 월현재 -147 억달러의감소를기록한반면채권형 ETF 는같은기간 +1 억달러의소폭증가를하였음. 주요국의마이너스정책금리시행으로채권시장의강세가시현되었기때문으로해석됨. 레버리지 ETF 의거래폭발 : 주식시장의약세로인한변동성국면에도불구하고레버리지 ETF 의거래량이폭발적으로증가하였음. 아시아태평양지역에서거래대금기준 1 위는일본의 NEXT NKY225 Leveraged ETF(1570 JP) 으로 3 개월일평균거래대금이 179 억달러에달함. 일본자산규모상위 30 개종목의거래대금을모두합하더라도해당레버리지 ETF 거래대금의 30% 에불과함. 한국역시 KODEX Leverage ETF( KS) 가가장많은거래대금을기록하였음. 변동성확대와급등락상황이연출되는과정에서투기적인거래수요가레버리지 ETF 에집중되었기때문임. 변동성 ETF 수익률강세 : 아시아태평양지역 ETF 중연초이후수익률최고 3 종목이모두일본에상장된변동성 ETF 임. 일본변동성지수 VNKY ETN 은연초대비 70% 가넘는상승률을기록하였음. 기타수익률상위종목은대부분 Inverse ETF 와 Gold ETF 임. 반대로수익률하위종목은레버리지 ETF 와은행섹터 ETF 가차지하였음. 포연이가라앉은이후에는 : 연초이후글로벌금융시장의변동성이폭등하는등불안정한상황이지속되었음. 2 월이후주요국중앙은행의정책대응에대한기대감과단기 Panic 상태에서벗어난투자자들의위험자산선호가맞물려글로벌금융시장은안정을되찾을것임. 다만구조적인문제 ( 중국경기둔화및미국금리인상, 유가약세등 ) 가해소되지않는상황에서반등세는제한적일것임. 이에따라반등과정에서기존포트폴리오를고배당 / 가치주 / 안전자산위주로재조정하는과정이필요할것임.

2 아시아태평양지역 ETF 개괄 ETF 신규상장종목추이 (No. of products) H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 2H12 1H13 2H13 1H14 2H14 1H15 2H15 1H16 참고 : 2016 년 2 월 15 일기준, 현존 ETF 대상자료 : Bloomberg, 삼성증권 거래소별 ETF 상장현황 Exchange Australia Bangkok Hong Kong Indonesia Korea Bursa Malaysia Ho Chi Min 1 Mumbai Nagoya 1 N.S. India New Zealand 2 Osaka Philippine 1 Shanghai Shenzhen Singapore Taiwan Tokyo Total 참고 : 2016 년 2 월 15 일기준, 현존 ETF 대상 ( 상장폐지종목은반영되지않음 ) 자료 : Bloomberg, 삼성증권 삼성증권 2

3 ETF 대상자산별상장현황 (2016 년현재 ) Asset Class Focus 자산규모 (mil USD) 종목수 Equity 212, Fixed Income 11, Commodity 5, Money Market 3,140 6 Specialty 1, N.A Mixed Allocation Total 233,919 1,013 참고 : 2016 년 2 월 15 일기준, Specialty- 변동성 & 통화, Mixed Allocation- 다중자산상품자료 : Bloomberg, 삼성증권 거래소별자산별 ETF 자산규모현황 (mil USD) Commodity Equity Fixed Income Specialty Mixed Allocation Money Market Total ASE 428 6,868 1, ,071 Bangkok BSE India Hanoi 4 4 Ho Chi Minh Hong Kong ,781 3, ,514 Indonesia Korea ,191 3, ,127 Malaysia N.S. India 896 1, ,565 Nagoya New Zealand Philippines Shanghai ,372 1,151 2,510 25,151 Shenzhen 235 7, ,450 Singapore 1,001 11, ,036 Taiwan 221 6, ,497 Tokyo 1, , ,936 총합계 5, ,661 11,054 1, , ,919 삼성증권 3

4 거래소별 ETF 자산규모 Primary Exchange 합계 (mil USD) 평균 (mil USD) 직전월말 (mil USD) Tokyo 117, ,303 Hong Kong 31, ,611 Shanghai 25, ,836 Korea 18, ,512 Singapore 13, ,415 Australia 9, ,265 Shenzhen 8, ,355 Taiwan 6, ,250 N.S. India 2, ,439 New Zealand Bursa Malaysia BSE India Indonesia Bangkok Nagoya Philippines Ho Chi Minh Hanoi Total 233, ,527 거래소별 ETF 거래대금현황 (3 개월평균거래대금기준 ) Primary Exchange 전체합계 ( 천달러 ) 종목당평균 ( 천달러 ) Tokyo 2,605,085 14,718 Shanghai 701,887 9,485 Taiwan 234,853 6,022 Shenzhen 243,887 5,420 Hong Kong 474,170 4,234 Korea 741,750 2,630 Australia 54, N.S. India 18, Singapore 5, New Zealand 2, Philippines Ho Chi Minh Bangkok Bursa Malaysia 37 9 Nagoya 56 7 BSE India 5 5 Indonesia 1 0 참고 : 2016 년 2 월 15 일기준, 종목당평균은전체거래대금 / 상장 ETFs 로산출함자료 : Bloomberg, 삼성증권 삼성증권 4

5 개별 ETF 자산규모 자산규모상위 30 종목 (sort by AUM) ETF Exchange Benchmark Total Asset Value (mil USD) 직전월말 (mil USD) NOMURA ETF - NIKKEI 225 Tokyo NKY 23,514 25,715 NOMURA ETF - TOPIX Tokyo TPX 20,132 22,827 NIKKO ETF - NKY 225 Tokyo NKY 11,435 12,340 DAIWA ETF - NIKKEI 225 Tokyo NKY 10,705 11,809 DAIWA ETF - TOPIX Tokyo TPX 9,651 10,883 NIKKO ETF - TOPIX Tokyo TPX 9,477 10,616 TRACKER FUND OF HONG KONG Hong Kong HSI 8,237 8,744 NEXT FUNDS NKY225 LVRGED ETF Tokyo NKYLEV 5,672 7,538 MAXIS NIKKEI 225 ETF Tokyo NKY 5,513 6,038 HANG SENG H-SHARE IND ETF-HK Hong Kong HSI21N 5,147 5,395 CHINA 50 ETF Shanghai SSE50 4,789 4,729 HANG SENG INDEX ETF-HKD Hong Kong HSI1N 4,516 4,846 ISHARES FTSE A50 CHINA INDEX Hong Kong TX9HKNRH 4,103 4,254 SAMSUNG KODEX 200 ETF Korea KOSPI2 3,737 3,755 HUATAI-PB CSI 300 ETF Shanghai SHSZ300 3,387 3,344 CHINA CSI 500 ETF Shanghai N.A. 3,173 3,133 HARVEST CSI 300 INDEX ETF Shenzhen SHSZ300 3,167 3,127 ABF PAN ASIA BOND INDEX FUND Hong Kong ABTRPAUH 3,006 2,958 SHANGHAI SSE180 ETF Shanghai SSE180 2,963 2,926 MAXIS TOPIX ETF Tokyo TPX 2,918 3,282 CHINA AMC CSI 300 INDEX ETF Shanghai SHSZ300 2,768 2,733 YUANTA/P-SHRS TW TOP 50 ETF Taiwan TW50 2,477 2,408 CSOP FTSE CHINA A50 ETF-RMB Hong Kong XINA50NC 2,295 2,222 SAMSUNG KODEX LEVERAGE ETF Korea KOSPI2LG 2,125 2,395 ISHARES NIKKEI 225 ETF Tokyo NKY 2,101 2,498 CN-SOUTHERN CASH MGT MMF ETF Shanghai N.A. 1,957 1,932 SPDR S&P/ASX 200 FUND ASE ASA51 1,905 2,042 DB X-TRACKERS MSCI WORLD TRN Singapore NDDUWI 1,897 1,959 NOMURA NEXT F JPX NIKKEI 400 Tokyo JPNK400 1,890 2,111 LYXOR ETF MSCI EUROPE-B Singapore M7EU 1,857 1,878 참고 : 2016 년 2 월 15 일기준자료 : Bloomberg, 삼성증권 거래소별 ETF 자산규모 ( 상위 30 위대상 ) 거래소별 ETF 자산규모증감 ( 상위 30 위대상 ) Hong Kong 16% Korea 4% Taiwan 2% Tokyo 62% (USDm) 2,000 0 (2,000) (4,000) (6,000) (8,000) (10,000) (12,000) (14,000) (12,649) Tokyo (288) (137) (83) (1,117) Hong Kong Korea ASE Singapore Shenzhen Taiwan Shanghai 참고 : 2016 년 2 월 15 일기준자료 : Bloomberg, 삼성증권 참고 : 직전월말대비 2 월 15 일증감자료 : Bloomberg, 삼성증권 삼성증권 5

6 거래소별자산규모증가 / 감소상위 5 개 ETF 현황 ( 직전월말대비 ) Ticker Name Asset (USD mil) Ticker Name Asset (USD mil) Korea Stock Exchange KS SAMSUNG KODEX INVERSE ETF JP NEXT FUNDS NK22 D-INVRS ETF KS SAMSUNG KODEX KRW CASH ETF JP NEXT FUNDS NKY225 INVERS ETF KS KIWOOM KOSEF 200 ETF JP JAPAN PHYSICAL GOLD ETF/MUFG KS KITM KINDEX200 ETF JP SMPLX-NIKKEI AVR BR DBL ETF KS TIGER SYNTH-CHINA A LVG ETF JP NOMURA NN NK TCM INV OIL ETN KS HANWHA-ARIRANG KOSPI200 ETF (37.2) 1308 JP NIKKO ETF - TOPIX (1,139.5) KS KB KSTAR 200 ETF (49.0) 1305 JP DAIWA ETF - TOPIX (1,232.3) KS MIRAE TIGER 200 ETF (49.2) 1570 JP NEXT FUNDS NKY225 LVRGED ETF (1,866.1) KS HANWHA ARIRANG S&P K DVD ETF (57.1) 1321 JP NOMURA ETF - NIKKEI 225 (2,200.3) KS SAMSUNG KODEX LEVERAGE ETF (270.4) 1306 JP NOMURA ETF - TOPIX (2,695.1) Hong Kong Taiwan Stock Exchange HK CSOP FTSE CHINA A50 ETF-RMB L TT YUANTA/P-SHRS CSI 300 2X ETF HK ABF PAN ASIA BOND INDEX FUND TT YUANTA/P-SHRS TW TOP 50 ETF HK CHINAAMC CSI 300 IDX ETF-CNY L TT FUBON SSE180 LEV 2X IN ETF HK DBX CSI TT FUBON SSE 180 INDEX ETF HK VALUEGOLD ETF TT W.I.S.E. YUANTA/P SHS C300 E HK ISHARES MSCI CHINA INDEX ETF (12.0) TT FUH HWA HANG SENG ETF (1.7) 2823 HK ISHARES FTSE A50 CHINA INDEX (151.6) 00638R TT YUANTA/P-SHRS CSI 300 1X ETF (3.7) 2828 HK HANG SENG H-SHARE IND ETF-HK (248.9) 00631L TT YUANTA/P-SHRS TW T50 2X ETF (5.7) 2833 HK HANG SENG INDEX ETF-HKD (330.2) 00642U TT YUANTA S&P GSCI OIL ER ETF (5.8) 2800 HK TRACKER FUND OF HONG KONG (507.3) 00634R TT FUBON SSE180 INV INDEX ETF (5.9) Shanghai Shenzhen CH CHINA 50 ETF CH HARVEST CSI 300 INDEX ETF CH HUATAI-PB CSI 300 ETF CH E FUND SZSE100 INDEX FUND CH CHINA CSI 500 ETF CH E FUND CHINEXT PRICE INDEX CH SHANGHAI SSE180 ETF CH CHINA MERCHANTS SEC DEP MM-A CH CHINA AMC CSI 300 INDEX ETF CH CHINA SME ETF CH BANK OF CHINA SSE EN 100 ETF CH PENGHUA CSI 300 INDEX ETF CH HARVEST CSI PRI CONSU ETF FD CH LION SZSE SME EQUAL WEIGHT CH E FUND CSI 500 ETF CH GF NASDAQ-100 ETF CH CIFM SSE 180 HIGH BETA ETF CH CHINA UNIVERS CSI ENERGY ETF CH HUAAN CSI REAL ESTA INX ETF CH HARVEST CSI 500 ETF 0.0 ASE Tokyo Singapore GOLD AU ETFS PHYSICAL GOLD 36.3 DJI SP LYXOR ETF DOW JONES IND AV-B 13.1 UBA AU UBS IQ MSCI AUSTRALIA ETF 23.9 XCSI SP DBX CSI VAF AU VANGUARD AUST FI INTERST ETF 11.6 SBIF SP ABF SINGAPORE BOND INDX FUND 6.9 VAP AU VANGUARD AU PROP SEC IDX ETF 9.6 LTM SP LYXOR ETF MSCI EM LAT AMER-E 4.7 QAU AU BETASHARES GOLD BULLION ETF 8.6 INDO SP LYXOR ETF MSCI INDONESIA 1.8 IOZ AU ISHARES S&P/ASX 200 ETF (10.8) XMEM SP DB X-TRACKERS EMERG MARKET (30.4) SFY AU SPDR S&P/ASX 50 FUND (11.7) JPN SP LYXOR ETF JAPAN TOPIX (46.4) VHY AU VANGUARD AUS HIGH YIELD (25.5) ASI SP LYXOR UCITS ETF CHINA ENTER (52.6) ETF AU UBS IQ MORNINGSTAR AUSTRALIA (30.1) XMWO SP DB X-TRACKERS MSCI WORLD TRN (62.1) STW AU SPDR S&P/ASX 200 FUND (137.5) WLD SP LYXOR ETF MSCI WORLD-E (71.2) 참고 : 직전월말대비 2 월 15 일자산규모증감표시, 중국 ETF 시장의데이타가일부누락되었을가능성이존재함자료 : Bloomberg, 삼성증권 삼성증권 6

7 거래소별거래대금상위 ETF 현황 ( 최근 3 개월평균기준 ) Ticker Name ( 천달러 ) Ticker Name ( 천달러 ) Korea Stock Exchange KS SAMSUNG KODEX LEVERAGE ETF 200, JP NEXT FUNDS NKY225 LVRGED ETF 1,797, KS SAMSUNG KODEX 200 ETF 160, JP NEXT FUNDS NK22 D-INVRS ETF 135, KS SAMSUNG KODEX INVERSE ETF 113, JP SIMPLEX NKY225 BULL 2X ETF 133, KS MIRAE TIGER 200 ETF 28, JP NOMURA ETF - NIKKEI , KS KIWOOM KOSEF ENHANCED CASH E 20, JP NOMURA ETF - TOPIX 58, KS KODEX KOSDAQ150 LEVERAGE ETF 18, JP SMPLX-NIKKEI AVR BR DBL ETF 56, KS TIGER KOSDAQ150 LEVERAGE ETF 17, JP SIMPLEX TOPIX BULL 2X ETF 45, KS KB KSTAR 200 ETF 16, JP DAIWA ETF-NK225 LVRGD INDX 25, KS TIGER SYNTH-CHINA A LVG ETF 12, JP NOMURA NEXT TCM LEVE OIL ETN 24, KS KITM KINDEX200 ETF 11, JP NIKKO ETF - NKY ,412 Hong Kong Taiwan Stock Exchange 2828 HK HANG SENG H-SHARE IND ETF-HK 157, L TT FUBON SSE180 LEV 2X IN ETF 88, HK ISHARES FTSE A50 CHINA INDEX 149, L TT YUANTA/P-SHRS CSI 300 2X ETF 42, HK TRACKER FUND OF HONG KONG 145, TT YUANTA/P-SHRS TW TOP 50 ETF 20, HK CSOP FTSE CHINA A50 ETF-RMB 7, R TT YUANTA/P-SHRS TW T50 1X ETF 19, HK WISE - CSI 300 CHINA TRACKER 4, L TT YUANTA/P-SHRS TW T50 2X ETF 7, HK CHINAAMC CSI 300 IDX ETF-CNY 3, TT FUBON SSE 180 INDEX ETF 6, HK ISHARES MSCI CHINA INDEX ETF U TT YUANTA S&P GSCI OIL ER ETF 6, HK XIE SHARES FTSE CHIM ETF TT W.I.S.E. YUANTA/P SHS C300 E 5, HK HANG SENG INDEX ETF-HKD R TT FUBON SSE180 INV INDEX ETF 3, HK CSOP CHINA ULTRA ST BON F-RM L TT FUBON TOPIX LEV 2X INDEX ETF 3,456 Shanghai Shenzhen CH CN-SOUTHERN CASH MGT MMF ETF 269, CH E FUND CHINEXT PRICE INDEX 105, CH CHINA 50 ETF 128, CH CHINA MERCHANTS SEC DEP MM-A 66, CH HUATAI-PB CSI 300 ETF 112, CH CHINA SME ETF 24, CH E FUND CHINA ENTERPRISES ETF 45, CH E FUND SWIFT CASH MONEY MK-A 19, CH INVESCO GREAT WALL TRAD MM 33, CH HARVEST CSI 300 INDEX ETF 10, CH HUATAI-PB TRADED MONEY MKT F 31, CH E FUND SZSE100 INDEX FUND 6, CH CHINA CSI 500 ETF 28, CH CHINA AMC HANG SENG ETF 3, CH GUOTAI SSE 5-YR CHINA TREAS 21, CH E FUND GOLD TRADE OP END ETF 1, CH HUAAN YIFU GOLD ETF 10, CH GF CSI ALL SH INFOR TECH ETF 1, CH SHANGHAI SSE180 ETF 5, CH SZSE COMPONENT INDEX FUND ET 824 ASE Tokyo Singapore STW AU SPDR S&P/ASX 200 FUND 12,616 INDIA SP ISHARES MSCI INDIA INDEX ETF 1,505 VAS AU VANGUARD AUST SHARES IDX ETF 4,893 STTF SP SPDR STRAITS TIMES INDEX ETF 1,274 AAA AU BETASHARES AUS HIGH INTEREST 3,046 AJAC SP ISHARES JPM USD ASIA BOND 532 USD AU BETASHARES US DOLLAR ETF 2,267 AHYG SP ISHARES ASIA HIGH YIELD BD 333 BBOZ AU BETASHARES AUS EQ STR BR HDG 2,165 XCSI SP DBX CSI RARI AU RUSSELL AUS RESPONSIBLE INVS 1,612 DBSSTI SP NIKKO AM SINGAPORE STI ETF 175 GEAR AU BETASHARES GEARED AUS EQTY F 1,595 ASI SP LYXOR UCITS ETF CHINA ENTER 160 MGE AU MAGELLAN GLOBAL EQUITIES FND 1,325 XMRC SP DBX MSCI RUSSIA CAPPED 149 IAF AU ISHARES COMPOSITE BOND ETF 1,245 INDO SP LYXOR ETF MSCI INDONESIA 103 VHY AU VANGUARD AUS HIGH YIELD 1,202 AEJ SP LYXOR UCITS ETF ASIA EX JP 82 N.S. India Bangkok LBEES IN GOLDMAN LIQUID ETF BEES 14,871 TDEX TB THAIDEX SET50 ETF 78 BBEES IN GS BANKING EXCH-GS BANK BEES 1,093 CHINA TB WISE KTAM CSI 300 CHINA 50 NBEES IN GS NIFTY EXCH-GS NIFTY BEES 953 GLD TB KTAM GOLD ETF TRACKER 21 GBEES IN GOLDMAN GOLD ETF-GOLD BEES 675 MUS TB MAYBANK US ETF 14 SGETS IN SBI-ETF GOLD 164 TGOLDETF TB THANACHART GOLD ETF 11 KOTBANK IN KOTAK BANKING ETF 155 MJP TB MAYBANK JAPAN ETF 7 UTIGOL IN UTI GOLD EXCHANGE TRADED FND 109 MEU TB MAYBANK EURO ETF 5 RBETF IN R*SHARES BANKING ETF 98 1DIV TB THAIDEX SET HIGH DVD ETF 4 CPSEBE IN GS CPSE ID EXCH-GS CPSE BEES 86 MEM TB MAYBANK EMERGING ETF 4 KONIFTY IN KOTAK NIFTY EICT TB KTAM SET ICT ETF TRACKER 4 자료 : Bloomberg, 삼성증권 삼성증권 7

8 신규상장 ETF Asia-Pacific 신규상장 ETF (2016 년 2 월 ) Ticker Name Asset Class Exchange Inception date Management Company KS KIS TRUE KOREA PREMIER ETN 9 Equity South Korea 2/5/2016 Korea Investment & Securities KS KSTAR V&S SELECT VALUE ETF Equity South Korea 2/2/2016 KB Asset Management 참고 : Ticker 는 Bloomberg 용자료 : Bloomberg, 삼성증권 USA 신규상장 ETF (2016 년 2 월 ) Ticker Name Asset Class Inceptiondate Management Company MLPZ US ETRACS 2XMTHLY LEV S&P MLP B Equity 2/8/2016 ETRACS ETNs OIIL US X-LINKS WTI CRUDE OIL ETN Commodity 2/8/2016 Credit Suisse AG MLPQ US ETRACS 2X LEV LG ALER MLP-B Equity 2/8/2016 ETRACS ETNs GTO US GUGGENHEIM TOTAL RETURN BOND Fixed Income 2/10/2016 Guggenheim ETFs 참고 : Ticker 는 Bloomberg 용자료 : Bloomberg, 삼성증권 삼성증권 8

9 수익률상 / 하위 ETF 수익률상위 30 ETF 현황 Code ETF Exchange 자산 YTD (%) 2035 JP NOMURA NEXT NOTES NKY VI ETN Tokyo Specialty JP KOKUSAI S&P500 VIX SHORT ETF Tokyo Specialty JP IPATH S&P 500 VIX S/T FU JDR Tokyo Specialty JP DAIWA ETF-TOPIX DB INVR2X IN Tokyo Equity JP SIMPLEX TOPIX BEAR -2X ETF Tokyo Equity JP SIMPLEX JPX 400 BEAR -2X DI Tokyo Equity JP SMPLX-NIKKEI AVR BR DBL ETF Tokyo Equity JP NEXT FUNDS JPX400 DBL INVRS Tokyo Equity JP DAIWA ETF JPX 400 DUL INVRS Tokyo Equity JP DAIWA ETF-NK225 DBL INVRS ID Tokyo Equity JP RAKUTEN NIKKEI DBL INVRS IDX Tokyo Equity JP NEXT FUNDS NK22 D-INVRS ETF Tokyo Equity KS KINDEX SYN-GOLD FT LV H ETF Korea Specialty BBUS AU BETASHARES US EQ STR BEAR-CH ASE Equity KS SHINHAN INVERSE WTI F ETN H3 Korea Specialty BBOZ AU BETASHARES AUS EQ STR BR HDG ASE Equity KS TIGER SYNTH-CHINA A INVERSE Korea Mixed Allocation KS KI TRUE INVS CHINA H ETN H 6 Korea Equity KS MIRAE TIGER WTI INVERSE ETFH Korea Specialty AXGOLD IN AXIS GOLD ETF N.S. India Commodity GOLD AU ETFS PHYSICAL GOLD ASE Commodity ZGOL AU ANZ ETFS PHYSICAL GOLD ETF ASE Commodity KS KIS TRUE IV EUROSTOXX50 ETN4 Korea Equity JP SIMPLEX TOPIX BEAR -1X ETF Tokyo Equity R TT YUANTA/P-SHRS CSI 300 1X ETF Taiwan Equity R TT FUBON SSE180 INV INDEX ETF Taiwan Mixed Allocation KS KIM KINDEX SYNTH ETF EQ DERV Korea Equity REGGOLD IN RELIGARE INVESCO GOLD ETF N.S. India Commodity JP DAIWA ETF-JPN TOPIX INVERSE Tokyo Equity JP DAIWA ETF JPX 400 INVRS -1X Tokyo Equity 참고 : 2016 년 2 월 15 일기준자료 : Bloomberg, 삼성증권 YTD 수익률상위 30 개 ETF 거래소별분포 YTD 수익률상위 30 개 ETF 자산별분포 ( 개수 ) ( 개수 ) Tokyo 7 Korea 4 ASE 2 2 N.S. India Taiwan Equity 18 Mixed Allocation 2 Specialty 6 Commodity 4 자료 : Bloomberg, 삼성증권 자료 : Bloomberg, 삼성증권 삼성증권 9

10 수익률하위 30 ETF 현황 Code ETF Exchange 자산 YTD (%) ETPNRG AU ETFS ENERGY ASE Commodity (53.74) 1572 JP SIMPLEX CHINA H-SH BULX2 ETF Tokyo Equity (40.30) 2049 JP NEXT NOTES SP500 VIX STF INV Tokyo N.A. (40.00) KS KINDEX CHINA LEV ETF SYNTH Korea Equity (37.65) KS TIGER SYNTH-CHINA A LVG ETF Korea Equity (37.14) KS ARIRANG SYNTH-CHINA H LV ETF Korea Equity (37.11) KS KODEX CHINA H LEVERAGE ETF Korea Equity (36.40) KS KIM KINDEX JP LEVERAGE ETF H Korea Equity (34.60) KS KB KSTAR JAPAN LVRG ETF H Korea Equity (34.56) 00640L TT FUBON TOPIX LEV 2X INDEX ETF Taiwan Equity (33.75) CH DACHENG CSI 500 SZE STK IDX Shenzhen Equity (33.60) 1367 JP DAIWA ETF-TOPIX LVRG 2X IND Tokyo Equity (33.17) 1568 JP SIMPLEX TOPIX BULL 2X ETF Tokyo Equity (32.55) 1648 JP DAIWA ETF TOPIX-17 BANKS Tokyo Equity (32.12) 1470 JP NEXT FUNDS JPX 400 LVRG Tokyo Equity (32.01) 1467 JP SIMPLEX JPX 400 2X LVRG ETF Tokyo Equity (32.00) 1464 JP DAIWA ETF JPX 400 LVRG 2X Tokyo Equity (31.90) 1615 JP NOMURA BANKS INDEX ETF Tokyo Equity (31.78) 1365 JP DAIWA ETF-NK225 LVRGD INDX Tokyo Equity (31.37) KS KODEX SYNTH-US BIOTECH ETF Korea Equity (31.28) 1631 JP NOMURA NF TOPIX-17 BANKS ETF Tokyo Equity (31.18) 1570 JP NEXT FUNDS NKY225 LVRGED ETF Tokyo Equity (31.13) 2038 JP NOMURA NEXT TCM LEVE OIL ETN Tokyo Commodity (31.11) 1579 JP SIMPLEX NKY225 BULL 2X ETF Tokyo Equity (31.08) 2031 JP NOMURA NEXT NOTES HSI LE ETN Tokyo Equity (30.97) 1458 JP RAKUTEN NIKKEI LEVERAGED IDX Tokyo Equity (30.93) 1358 JP NIKKO-ETF NIKKEI LEVERAGED Tokyo Equity (30.86) HK HARVEST CSI S CAP 500 ETF-RM Hong Kong Equity (30.82) KS TIGER SYNTH-EU STOXX50 ETF H Korea Mixed Allocation (30.49) 1612 JP DAIWA ETF-TOPIX BANKS Tokyo Equity (30.30) 참고 : 2016 년 2 월 15 일기준자료 : Bloomberg, 삼성증권 수익률하위 30 개 ETF 거래소별분포수익률하위 30 개 ETF 자산별분포 ( 개수 ) ( 개수 ) Tokyo 8 Korea Shenzhen Taiwan Hong Kong ASE Commodity 2 N.A., 1 Mixed Allocation, 1 Equity, 26 자료 : Bloomberg, 삼성증권 자료 : Bloomberg, 삼성증권 삼성증권 10

11 거래소별수익률상위 ETF (sort by YTD) Ticker Name YTD (%) Ticker Name YTD (%) Korea Stock Exchange KS KINDEX SYN-GOLD FT LV H ETF JP NOMURA NEXT NOTES NKY VI ETN KS SHINHAN INVERSE WTI F ETN H JP KOKUSAI S&P500 VIX SHORT ETF KS TIGER SYNTH-CHINA A INVERSE JP IPATH S&P 500 VIX S/T FU JDR KS KI TRUE INVS CHINA H ETN H JP DAIWA ETF-TOPIX DB INVR2X IN KS MIRAE TIGER WTI INVERSE ETFH JP SIMPLEX TOPIX BEAR -2X ETF KS KIS TRUE IV EUROSTOXX50 ETN JP SIMPLEX JPX 400 BEAR -2X DI KS KIM KINDEX SYNTH ETF EQ DERV JP SMPLX-NIKKEI AVR BR DBL ETF KS SAMS SAMS INV CH A50 ETN H JP NEXT FUNDS JPX400 DBL INVRS KS SAMSUNG KODEX GOLD FUTURES JP DAIWA ETF JPX 400 DUL INVRS KS SHINHAN GOLD FUTURES ETN H JP DAIWA ETF-NK225 DBL INVRS ID Hong Kong Taiwan Stock Exchange 2830 HK ETFS PHYSICAL GOLD ETF R TT YUANTA/P-SHRS CSI 300 1X ETF HK HANG SENG RMB GOLD ETF R TT FUBON SSE180 INV INDEX ETF HK VALUEGOLD ETF R TT FUBON TOPIX INV 1X INDEX ETF HK ETFS PHYSICAL SILVER ETF U TT YUANTA S&P GSCI GOLD ER ETF HK DBX MSCI INDONESIA R TT YUANTA DAILY S&P 500 BEAR 1X HK XIE SHARES INDONESIA ETF R TT YUANTA/P-SHRS TW T50 1X ETF HK ETFS PHYSICAL PLATINUM ETF TT FUBON TAIWAN TECHNOLOGY ETF (0.26) 3029 HK XIE SHARES MALAYSIA ETF TT YUANTA/P-SHRS TW DVD PLUS ET (1.14) 3082 HK DBX MSCI MALAYSIA TT YUANTA/P-SHRS TW EL TECH ETF (1.31) 2821 HK ABF PAN ASIA BOND INDEX FUND TT FUBON MSCI TAIWAN ETF (2.22) Shanghai Shenzhen CH GUOTAI GOLD ETF CH BOSERA GOLD OPEN-END ETF CH HUAAN YIFU GOLD ETF CH E FUND GOLD TRADE OP END ETF CH SSE PLEDGE URBAN INVE BD ETF CH CHINA MERCHANTS SEC DEP MM-A (0.00) CH GUOTAI SSE 5-YR CHINA TREAS CH E FUND SWIFT CASH MONEY MK-A (0.01) CH CN-SOUTHERN CASH MGT MMF ETF (0.02) CH HARVEST CSI G-E MED TREA BD (0.43) CH HUATAI-PB TRADED MONEY MKT F (0.02) CH HARVEST SHENZHEN F120 ETF (3.07) CH INVESCO GREAT WALL TRAD MM (0.09) CH GF NASDAQ-100 ETF (11.43) CH BOSERA SSE CORP BOND 30 ETF (0.17) CH UBS SDIC CSI 300 FINL & PROP (13.42) CH SSE PERIODICAL INDUST 50 ETF (1.50) CH CHINA AMC HANG SENG ETF (14.65) CH BOSERA S&P 500 ETF (4.30) CH DACHENG CSI 100 ETF (15.07) ASE Tokyo Singapore BBUS AU BETASHARES US EQ STR BEAR-CH INDO SP LYXOR ETF MSCI INDONESIA 7.31 BBOZ AU BETASHARES AUS EQ STR BR HDG KV4 SP DBX II IBX ABF SINGAPORE GOV 2.77 GOLD AU ETFS PHYSICAL GOLD SBIF SP ABF SINGAPORE BOND INDX FUND 2.59 ZGOL AU ANZ ETFS PHYSICAL GOLD ETF AJAC SP ISHARES JPM USD ASIA BOND 1.17 QAU AU BETASHARES GOLD BULLION ETF ASEAN SP CIMB FTSE ASEAN 40 (0.75) ETPMAG AU ETFS PHYSICAL SILVER AHYG SP ISHARES ASIA HIGH YIELD BD (0.98) ETPMPT AU ETFS PHYSICAL PLATINUM L5F SP DBX CMDTY BOOSTER (2.62) ETPMPM AU ETFS PHYSICAL PM BASKET TWN SP LYXOR ETF MSCI TAIWAN (3.48) BEAR AU BETASHARES AUS EQ BEAR HF L5G SP DBX CMDTY BOOSTER LIGHT ENGY (4.10) EEU AU BETASHARES EURO ETF 4.49 LTM SP LYXOR ETF MSCI EM LAT AMER-E (4.43) 참고 : 2016 년연간수익률상위 ETF 자료 : Bloomberg, 삼성증권 삼성증권 11

12 Commodity ETF 현황 Commodity ETF (1) Code Name Exchange Benchmark 수익률거래대금 AUM (YTD,%) (3M 평균, 천달러 ) (mil USD) CRB SP LYXOR ETF COMMODITIES THOMSO Singapore CRYTR (9.94) JP NOMURA NEXT TCM LEVE OIL ETN Tokyo NTCS11LV (31.11) 24, JP JAPAN PHYSICAL GOLD ETF/MUFG Tokyo MUTFGOLD , JP SIMPLEX WTI CRUDE OIL ID ETF Tokyo N.A. (24.45) 10, GOLD AU ETFS PHYSICAL GOLD ASE GOLDLNPM JP NEXT FUNDS NOMURA CRUDE OIL Tokyo NMLSCOIL (26.63) 8, GBEES IN GOLDMAN GOLD ETF-GOLD BEES N.S. India N.A CH BOSERA GOLD OPEN-END ETF Shenzhen N.A CRN SP LYXOR ETF COMMODITIES THOMSO Singapore CRYNETR (4.69) KS MIRAE TIGER WTI FUT ETF Korea SPGSCLP (10.07) 4, U TT YUANTA S&P GSCI OIL ER ETF Taiwan N.A. (7.73) 6, REGOLD IN R* SHARES GOLD ETF N.S. India N.A SGETS IN SBI-ETF GOLD N.S. India N.A CH HUAAN YIFU GOLD ETF Shanghai SHGF , HK VALUEGOLD ETF Hong Kong GOLDLNAM JP JAPAN PHYSICAL PLAT ETF/MUFG Tokyo MUTFPLAT (0.90) 1, HDFGOLD IN HDFC GOLD ETF N.S. India N.A KOGOLD IN KOTAK GOLD ETF N.S. India N.A UTIGOL IN UTI GOLD EXCHANGE TRADED FND N.S. India N.A L5F SP DBX CMDTY BOOSTER Singapore DBCMDCTU (2.62) JP NOMURA NN NK TCM INV OIL ETN Tokyo NTCS11IV , JP GOLD-PRICE-LINKED ETF Tokyo GOLDLNPM KS SAMSUNG KODEX GOLD FUTURES Korea SPGSGCTR JP JAPAN PHYSICAL SILV ETF/MUFG Tokyo MUTFSILV KS MIRAE TIGER AGRI FUTURES ETF Korea SGECASP (2.30) ETPMAG AU ETFS PHYSICAL SILVER ASE SLVRLN AXGOLD IN AXIS GOLD ETF N.S. India N.A U TT YUANTA S&P GSCI GOLD ER ETF Taiwan SPGSGCP OOO AU BETASHARES CRUDE OIL ASE SPGCCLP (23.18) QAU AU BETASHARES GOLD BULLION ETF ASE GOLDLNAM JP NOMURA NEXT GOLD DBL BUL ETN Tokyo NTCCS4LV KS KODEX SILVER FUTURES ETF Korea SPGSSITR ICPGOLD IN ICICI PRUDENTIAL GOLD ETF N.S. India N.A CH E FUND GOLD TRADE OP END ETF Shenzhen SHGF , IDBIGLD IN IDBI GOLD ETF N.S. India N.A CRGETF IN CANARA ROBECO GOLD ETF N.S. India N.A BSLGOLD IN BIRLA SUN LIFE GOLD ETF N.S. India N.A GLD TB KTAM GOLD ETF TRACKER Bangkok GOLDLNAM L5G SP DBX CMDTY BOOSTER LIGHT ENGY Singapore DBCMBUTN (4.10) BCHAY TB BUALUANG CHAY GOLD ETF Bangkok THGOBRBY (1.25) HK ETFS PHYSICAL SILVER ETF Hong Kong SLVRLN QTGOLD IN QUANTUM GOLD FUND N.S. India N.A HK HANG SENG RMB GOLD ETF Hong Kong GOLDLNAM KG965 TB K GOLD ETF Bangkok GOLDLNAM (1.27) TGOLDETF TB THANACHART GOLD ETF Bangkok GOLDLNAM 참고 : Ticker 는 Bloomberg 용, 2016 년 2 월 15 일종가기준자료 : Bloomberg, 삼성증권 삼성증권 12

13 Commodity ETF (2) Code Name Exchange Benchmark 수익률거래대금 AUM (YTD,%) (3M 평균, 천달러 ) (mil USD) REGGOLD IN RELIGARE INVESCO GOLD ETF N.S. India N.A CH GUOTAI GOLD ETF Shanghai SHGF JP JAPAN PHYSICAL PALL ETF/MUFG Tokyo MUTFPALL (11.68) QCB AU BETASHARES COMMODITY ASE SPGCLEP (6.06) KS MIRAE TIGER PHYSICAL COPPER Korea SPGSCO (0.91) JP IPATH S&P GSCI PREC META JDR Tokyo SPGCPMTR JP NOMURA NEXT INVERSE GOLD ETN Tokyo NTCCS4IV (7.39) JP IPATH S&P GSCI LIVESTOCK JDR Tokyo SPGCLVTR (16.31) KS SAMSUNG KODEX SOYBEANS ETF Korea SPGCSOTR JP IPATH S&P GSCI GRAINS TR JDR Tokyo SPGCGRTR (5.93) JP IPATH S&P GSCI AGRI TR JDR Tokyo SPGCAGTR (16.30) ETPMPM AU ETFS PHYSICAL PM BASKET ASE N.A JP IPATH S&P GSCI SOFTS T R JDR Tokyo SPGCSFTR (15.01) KS SAMSUNG KODEX COPPER ETF Korea SPGCHGTR (2.42) JP NEXT FUNDS PLATINUM NOMU ETF Tokyo TMECSUB6 (4.64) JP IPATH GSCI INDUSTRI META JDR Tokyo SPGCINTR (26.88) GOLD99 TB THAIDEX GOLD ETF Bangkok GOLDLNAM (3.63) HK ETFS PHYSICAL GOLD ETF Hong Kong GOLDLNPM ETPMPT AU ETFS PHYSICAL PLATINUM ASE PLTMLNPM JP IPATH S&P GSCI TR INDEX JDR Tokyo SPGCCITR (15.95) HK ETFS PHYSICAL PLATINUM ETF Hong Kong PLTMLNPM QAG AU BETASHARES AGRICULTURE ASE SGECASP (4.64) JP IPATH S&P GSCI ENERGY TR JDR Tokyo SPGCENTR (10.46) ZGOL AU ANZ ETFS PHYSICAL GOLD ETF ASE GOLDLNAM ETPMPD AU ETFS PHYSICAL PALLADIUM ASE PLDMLNPM (11.22) ETPOIL AU ETFS BRENT CRUDE OIL ASE BCOMCO (13.98) JP MIZUHO GOLD ETF Tokyo TMECSUB ETPGRN AU ETFS GRAINS ASE BCOMGRTR ETPCOP AU ETFS COPPER ASE BCOMHGTR ETPAGR AU ETFS AGRICULTURE ASE BCOMAGTR (6.61) ETPGAS AU ETFS NATURAL GAS ASE BCOMNGTR (5.00) ETPWHT AU ETFS WHEAT ASE BCOMWHTR ETPCMD AU ETFS ALL COMMODITIES ASE BCOMTR (7.75) N.A ETPNRG AU ETFS ENERGY ASE BCOMENTR (53.74) ETPIND AU ETFS INDUSTRIAL METALS ASE BCOMINTR 2.69 N.A ETPCRN AU ETFS CORN ASE BCOMCNTR (14.58) N.A 참고 : Ticker 는 Bloomberg 용, 2016 년 2 월 15 일종가기준자료 : Bloomberg, 삼성증권 삼성증권 13

14 Bond ETF 현황 Code Name Exchange Benchmark 수익률 거래대금 AUM (YTD,%) (3M평균, 천달러 ) (mil USD) 2821 HK ABF PAN ASIA BOND INDEX FUND Hong Kong ABTRPAUH , KS SAMSUNG KODEX KRW CASH ETF Korea FNGDKRWC , , CH SSE PLEDGE URBAN INVE BD ETF Shanghai N.A KS MIRAE TIGER MONEY MARKET ETF Korea KISMTP AAA AU BETASHARES AUS HIGH INTEREST ASE N.A , KS SAMSUNG KODEX KRW CASH ETF Korea KBPMKRC SBIF SP ABF SINGAPORE BOND INDX FUND Singapore ABTRSG HK ABF HONG KONG BOND INDEX FD Hong Kong ABTRHK (0.06) MBIF MK ABF MALAYSIA BOND INDEX FUND Bursa Malaysia ABTRMALA KS ARIRANG SHORT-TERM BOND ETF Korea KBPMMMIF KS KB KSTAR SHORT TERM MSB ETF Korea N.A VAF AU VANGUARD AUST FI INTERST ETF ASE BACM IAF AU ISHARES COMPOSITE BOND ETF ASE BACM , CH GUOTAI SSE 5-YR CHINA TREAS Shanghai N.A , KS KY AXA POWER SHORT TERM ETF Korea KBPMSTBI LBEES IN GOLDMAN LIQUID ETF BEES N.S. India N.A , KS KIM KINDEX SHRT TRM MMM ETF Korea KISKMB1Y KS KB KSTAR KTB ETF Korea KTBDP KS KIWOOM KOSEF ENHANCED CASH E Korea MKMMITR , KS KIWOOM KOSEF KTB ETF - FIXED Korea KTBDP RGB AU RUSSELL AUS GOVT BOND ETF ASE DBLNAUSO , HK CSOP CHINA 5Y TRE BD ETF RMB Hong Kong CWTBTRID (0.82) RSM AU RUSSELL AUS SEMI-GOVT BOND ASE DBLNAUSS AJAC SP ISHARES JPM USD ASIA BOND Singapore JPEIJACC HK BMO ASIA USD INVEST GR ETF Hong Kong BAIGTRUU KS KYOBOAXA POWER KTB ETF BOND Korea N.A CH HARVEST CSI G-E MED TREA BD Shenzhen CSIH1017 (0.43) AHYG SP ISHARES ASIA HIGH YIELD BD Singapore BAHDTRUU (0.98) JP NIKKO ETF INL BOND CITI WGBI Tokyo SBWJNJYU (3.62) RCB AU RUSSELL AUS SEL CORP BOND ASE DBLNAUCO KS ARIRANG BARBELL BOND ETF Korea KBPMBBIF VGB AU VANGUARD AUS GOVT BD ETF ASE BAGV KS KB-KSTAR CREDIT BOND ETF Korea KBICTR KS KIWOOM KOSEF MSB ETF - FIXED Korea KISKMSB , ILB AU ISHARES GOVERNMENT INFLATI E ASE BAIG0 (0.13) KS SAMSUNG KODEX TBOND ETF Korea MKFTR KS MIRAE ASSET TIGER KTB3 ETF Korea KTBDP KV4 SP DBX II IBX ABF SINGAPORE GOV Singapore ABTRSGGO KS WOORI KOSEF 10Y KTB ETF Korea KISKK10Y BOND AU SPDR S&P/ASX AUSTRALIAN BOND ASE SPBDASXT KS WOORI KOSEF 10Y KTB LEVG ETF Korea KISKK10Y CH BOSERA SSE CORP BOND 30 ETF Shanghai SH (0.17) IGB AU ISHARES TREASURY ETF ASE BATY HK ISHARES RMB BOND INX ETF-CNY Hong Kong CFIIRCIL HK CSOP CHINA ULTRA ST BON F-RM Hong Kong CFIIGPSL (0.20) LICGSLT IN LIC NOMURA G-SEC LONG T ETF N.S. India N.A KS SAMSUNG KODEX 10Y F-LKTB ETF Korea FLKTB (1.85) KS MIR TIGER SYNTH-IBOXX HY ETF Korea IBXXSHY1 (3.45) HK E FUND CITI CHI GOV 5-10 RMB Hong Kong SBCN50L (2.26) KS SAMSUNG-KODEX 10Y F-LKTB ETF Korea FLKTB KS KITM KINDEX TB ETF Korea KTBDP GOVT AU SPDR S&P/ASK AUS GOVT BOND ASE SPBDAGVT IHHY AU ISHARES GLB HIGH YLD BD A HG ASE IBXXGH50 (3.80) 8.7 N.A. 참고 : Ticker 는 Bloomberg 용, 2016 년 2 월 15 일종가기준자료 : Bloomberg, 삼성증권 삼성증권 14

15 Currency ETF 현황 Code Name Exchange Benchmark 수익률거래대금 AUM (YTD,%) (3M 평균, 천달러 ) (mil USD) USD AU BETASHARES US DOLLAR ETF ASE N.A , KS WOORI KOSEF USD FUTURES ETF Korea F-USDKRW , HK DBX II AUSTR DOLLAR CASH Hong Kong DBMMAUDO (1.20) KS KW KOSEF SYNTH-USD F LV ETF Korea F-USDKRW , KS KW KOSEF STH-US F INV 2X ETF Korea FUSDKIN2 (5.92) POU AU BETASHARES BRITISH POUND ETF ASE N.A KS WOORI KOSEF USD INVERSE ETF Korea F-USDKRW (2.63) ZUSD AU ANZ ETFS PHYSICAL USD ETF ASE N.A EEU AU BETASHARES EURO ETF ASE N.A ZCNH AU ANZ ETFS PHYSICAL RMB ETF ASE N.A KS SHINHAN DOLLAR INX F ETN H11 Korea SPUSDTR N.A KS SHINHAN INVS DR IND ETN H 10 Korea SPUSDT1I N.A. 참고 : Ticker 는 Bloomberg 용, 2016 년 2 월 15 일종가기준자료 : Bloomberg, 삼성증권 삼성증권 15

16 KOREA Exchange ETF 자산규모상위 30 종목대상 (sort by AUM) Ticker Name 운용사 Asset B.M 수익률 거래대금 AUM (YTD,%) (3M평균, 천달러 ) (US$ M) KS SAMSUNG KODEX 200 ETF Samsung Asset Management Equity KOSPI2 (4.54) 160,791 3, KS SAMSUNG KODEX LEVERAGE ETF Samsung Asset Management Equity KOSPI2LG (9.93) 200,651 2, KS MIRAE TIGER 200 ETF Mirae Asset Global Investments Equity KOSPI2 (4.77) 28,166 1, KS SAMSUNG KODEX KRW CASH ETF Samsung Asset Management Fixed Income FNGDKRWC ,964 1, KS KITM KINDEX200 ETF Korea Investment Management Equity KOSPI2 (4.89) 11, KS KB KSTAR 200 ETF KB Asset Management Equity KOSPI2 (4.72) 16, KS MIRAE TIGER MONEY MARKET ETF Mirae Asset Global Investments Fixed Income KISMTP KS SAMSUNG KODEX SAMSUNG GR ETF Samsung Asset Management Specialty FNGDSSGR (5.45) KS SAMSUNG KODEX KRW CASH ETF Samsung Asset Management Fixed Income KBPMKRC KS KYOBO AXA-POWER K200 ETF Kyobo AXA Investment Management Equity KOSPI2 (5.23) 1, KS HANWHA-ARIRANG KOSPI200 ETF Hanwha Asset Management Equity KOSPI2 (5.23) 3, KS MIRAE TIGER CONSUMER ETF Mirae Asset Global Investments Equity KSP2CS (4.33) 3, KS SAMSUNG KODEX INVERSE ETF Samsung Asset Management Equity FKOSPI , KS MIRAE TIGER CH CONSMER ETF Mirae Asset Global Investments Equity FNGDCDTI (8.38) 1, KS ARIRANG SHORT-TERM BOND ETF Hanwha Asset Management Fixed Income KBPMMMIF KS KB KSTAR SHORT TERM MSB ETF KB Asset Management Fixed Income N.A KS KIWOOM KOSEF 200 ETF Kiwoom Asset Management Equity KOSPI2 (5.09) 1, KS MIRAE TIGER WTI FUT ETF Mirae Asset Global Investments Commodity SPGSCLP (10.07) 4, KS TIGER SYNTH-CHINA A LVG ETF Mirae Asset Global Investments Equity SHSZ300 (37.14) 12, KS KY AXA POWER SHORT TERM ETF Kyobo AXA Investment Management Fixed Income KBPMSTBI KS KIM KINDEX SHRT TRM MMM ETF Korea Investment Management Fixed Income KISKMB1Y KS KB KSTAR KTB ETF KB Asset Management Fixed Income KTBDP KS KIWOOM KOSEF ENHANCED CASH E Kiwoom Asset Management Fixed Income MKMMITR , KS KIWOOM KOSEF KTB ETF - FIXED Kiwoom Asset Management Fixed Income KTBDP KS KINDEX CHINA A CSI300 ETF Samsung Asset Management Equity SHSZ300 (18.53) 4, KS MIRAE TIGER 200 2X ETF Mirae Asset Global Investments Equity KOSPI2LG (10.04) 4, KS KYOBO AXA POWER K100 ETF Kyobo AXA Investment Management Equity KOSPI100 (5.12) KS MIRAE ASSET TIGER CH A300ETF Mirae Asset Global Investments Equity SHSZ300 (18.82) 1, KS SAMSUNG KODEX KOSPI ETF Samsung Asset Management Equity KOSPI (5.03) 3, KS HANWHA ARIRANG HIGH DIVIDEND Hanwha Asset Management Equity FNGDADIV (0.33) 참고 : Ticker, BM 은 Bloomberg 용, 2016 년 2 월 15 일기준자료 : Bloomberg, 삼성증권 삼성증권 16

17 Tokyo Stock Exchange ETF 자산규모상위 30 종목대상 (sort by AUM) Ticker Name 운용사 Asset B.M 수익률 거래대금 AUM (YTD,%) (3M평균, 천달러 ) (US$ M) 1321 JP NOMURA ETF - NIKKEI 225 Nomura Asset Management Equity NKY (15.83) 117,086 23, JP NOMURA ETF - TOPIX Nomura Asset Management Equity TPX (16.43) 58,896 20, JP NIKKO ETF - NKY 225 Nikko Asset Management Equity NKY (15.75) 22,412 11, JP DAIWA ETF - NIKKEI 225 Daiwa Asset Management Equity NKY (15.83) 19,507 10, JP DAIWA ETF - TOPIX Daiwa Asset Management Equity TPX (16.41) 4,079 9, JP NIKKO ETF - TOPIX Nikko Asset Management Equity TPX (16.54) 5,779 9, JP NEXT FUNDS NKY225 LVRGED ETF Nomura Asset Management Equity NKYLEV (31.13) 1,797,294 5, JP MAXIS NIKKEI 225 ETF Mitsubishi UFJ Kokusai Asset Management Equity NKY (15.83) 9,265 5, JP MAXIS TOPIX ETF Mitsubishi UFJ Kokusai Asset Management Equity TPX (16.62) 2,177 2, JP ISHARES NIKKEI 225 ETF BlackRock Japan Equity NKY (15.86) 1,663 2, JP NOMURA NEXT F JPX NIKKEI 400 Nomura Asset Management Equity JPNK400 (16.39) 6,395 1, JP NEXT FUNDS REIT NOMURA ETF Nomura Asset Management Equity TSEREIT ,776 1, JP DIAM ETF NIKKEI 225 DIAM Equity NKY (15.52) JP LISTED J-REIT BI MONTHLY DVD Nikko Asset Management Equity TSEREIT JP MAXIS JPX-NIKKEI INDEX 400 Mitsubishi UFJ Kokusai Asset Management Equity JPNK400 (16.19) 1, JP DAIWA ETF-JPX NIKKEI 400 Daiwa Asset Management Equity JPNK400 (16.30) JP NZAM ETF J-REIT INDEX Norinchukin Zenkyoren Asset Management Equity N.A JP NIKKO ETF JPX NIKKEI IDX 400 Nikko Asset Management Equity JPNK400 (16.07) JP NOMURA NEXT TCM LEVE OIL ETN Nomura Europe Finance NV Commodity NTCS11LV (31.11) 24, JP SIMPLEX NKY225 BULL 2X ETF Simplex Asset Management Equity NKYLEV (31.08) 133, JP JAPAN PHYSICAL GOLD ETF/MUFG Mitsubishi UFJ Trust & Banking Corp Commodity MUTFGOLD , JP NEXT FUNDS JPN EQT DVD70 ETF Nomura Asset Management Equity NMRIJOHD (14.18) JP ISHARES JPX NIKKEI 400 ETF BlackRock Japan Equity JPNK400 (16.35) 1, JP NEXT FUNDS NKY225 INVERS ETF Nomura Asset Management Equity NKYINV , JP ISHARES TOPIX ETF BlackRock Japan Equity TPX (15.17) 1, JP NEXT FUNDS NK22 D-INVRS ETF Nomura Asset Management Equity NKYDIN , JP SIMPLEX WTI CRUDE OIL ID ETF Simplex Asset Management Commodity N.A. (24.45) 10, JP MAXIS J-REIT ETF Mitsubishi UFJ Kokusai Asset Management Equity N.A JP DIAM ETF TOPIX DIAM Equity TPX (14.32) JP NEXT FUNDS NOMURA CRUDE OIL Nomura Asset Management Commodity NMLSCOIL (26.63) 8, 참고 : Ticker, BM 은 Bloomberg 용, 2016 년 2 월 15 일기준자료 : Bloomberg, 삼성증권 삼성증권 17

18 Hong Kong Stock Exchange ETF 자산규모상위 30 종목대상 (sort by AUM) Ticker Name 운용사 Asset B.M 수익률 거래대금 AUM (YTD,%) (3M평균, 천달러 ) (US$ M) 2800 HK TRACKER FUND OF HONG KONG State Street Global Advisors Asia Equity HSI (13.48) 145,501 8, HK HANG SENG H-SHARE IND ETF-HK Hang Seng Investment Management Equity HSI21N (18.31) 157,006 5, HK HANG SENG INDEX ETF-HKD Hang Seng Investment Management Equity HSI1N (13.38) 560 4, HK ISHARES FTSE A50 CHINA INDEX BlackRock Asset Management North Asia Equity TX9HKNRH (18.58) 149,690 4, HK ABF PAN ASIA BOND INDEX FUND State Street Global Advisors Singapore Fixed Income ABTRPAUH , HK CSOP FTSE CHINA A50 ETF-RMB CSOP Asset Management Equity XINA50NC (19.19) 7,506 2, HK CHINAAMC CSI 300 IDX ETF-CNY China Asset Management HK Equity SHSZ300 (21.52) 3,674 1, HK WISE - CSI 300 CHINA TRACKER BOCI-Prudential Asset Management Equity SHSZ300 (19.64) 4, HK ABF HONG KONG BOND INDEX FD HSBC Investment Funds HK Fixed Income ABTRHK (0.06) HK DBX CSI 300 Deutsche Asset & Wealth Management Equity SHSZ300 (21.34) HK ISHARES MSCI CHINA INDEX ETF BlackRock Asset Management North Asia Equity NDEUCHF (16.40) HK DBX MSCI CHINA Deutsche Asset & Wealth Management Equity NDEUCHF (16.43) HK DBX MSCI INDIA Deutsche Asset & Wealth Management Equity NDEUSIA (10.73) HK VALUEGOLD ETF Sensible Asset Management HK Commodity GOLDLNAM HK ISHARES S&P BSE SENSEX INDIA BlackRock Asset Management North Asia Equity SENSEX (10.95) HK CSOP CHINA 5Y TRE BD ETF RMB CSOP Asset Management Fixed Income CWTBTRID (0.82) HK DBX MSCI INDONESIA Deutsche Asset & Wealth Management Equity NDEUINF HK BMO ASIA USD INVEST GR ETF BMO Global Asset Management Asia Fixed Income BAIGTRUU HK HORIZONS MSCI CHINA ETF Mirae Asset Global Investments HK Equity NDELCHF (15.85) HK WISE - CSI HK100 TRACKER BOCI-Prudential Asset Management Equity CSIH1100 (14.35) HK BMO ASIA HIGH DIVIDEND ETF BMO Global Asset Management Asia Equity DAAXJPHN (9.10) HK HAITONG CSI 300 INDEX ETF-RB Hai Tong Asset Management HK Equity SHSZ300 (21.66) HK HORIZONS HANG SENG HI DVD YL Mirae Asset Global Investments HK Equity HSI52N (11.57) HK CSOP SZSE CHINEXT ETF-CNY CSOP Asset Management Equity SZ (24.11) HK HANG SENG CHINA A TOP ETF RB Hang Seng Investment Management Equity HSCAIT (19.39) HK SPDR FTSE GREATER CHINA ETF State Street Global Advisors Asia Equity GPSSG239 (12.28) HK ISHARES CSI 300 A-SHARES IN BlackRock Asset Management North Asia Equity CSICU007 (20.28) HK HARVEST MSCI CHINA A IDX-CNY Harvest Global Investments Equity MXCN1A (24.53) HK KODEX HSI FUTURES RMB FX ETF Samsung Asset Management HK Specialty HSFRFI (12.84) HK CHINAAMC HANG SENG SM-CP ETF China Asset Management HK Equity HSSI (16.70) 참고 : Ticker, BM 은 Bloomberg 용, 2016 년 2 월 15 일기준자료 : Bloomberg, 삼성증권 삼성증권 18

19 CHINA (Shanghai) Exchange ETF 자산규모상위 30 종목대상 (sort by AUM) Ticker Name 운용사 Asset B.M 수익률 거래대금 AUM (YTD,%) (3M평균, 천달러 ) (US$ M) CH CHINA 50 ETF China Asset Management Equity SSE50 (19.33) 128,881 4, CH HUATAI-PB CSI 300 ETF Huatai-PineBridge Fund Management Equity SHSZ300 (20.96) 112,086 3, CH CHINA CSI 500 ETF China Southern Fund Management Equity N.A. (25.08) 28,036 3, CH SHANGHAI SSE180 ETF HuaAn Fund Management Equity SSE180 (21.22) 5,902 2, CH CHINA AMC CSI 300 INDEX ETF China Asset Management Equity SHSZ300 (21.09) 1,837 2, CH CN-SOUTHERN CASH MGT MMF ETF China Southern Fund Management Money Market N.A. (0.02) 269,507 1, CH SSE PLEDGE URBAN INVE BD ETF HFT Investment Management Fixed Income N.A CH E FUND CHINA ENTERPRISES ETF E Fund Management Equity HSCEI (17.69) 45, CH E FUND CSI 300 ETF E Fund Management Equity SHSZ300 (20.66) 1, CH GUOTAI SHANGHAI 180 FIN ETF Guotai Asset Management Equity SH (19.19) CH HUATAI-PB TRADED MONEY MKT F Huatai-PineBridge Fund Management Money Market N.A. (0.02) 31, CH GUANGFA CSI 500 ETF GF Fund Management Equity SH (25.09) 2, CH E FUND CSI 300 FIN EX BA ETF E Fund Management Equity N.A. (26.32) 1, CH CHINA AMC CSI 500 ETF China Asset Management Equity SH (25.68) CH GUOTAI SSE 5-YR CHINA TREAS Guotai Asset Management Fixed Income N.A , CH CHINA SECURITY SOUTHERN ETF China Southern Fund Management Equity CSIR0901 (22.53) CH INVESCO CSI TMT 150 ETF INVESCO Great Wall Fund Management Equity N.A. (25.91) CH HUAAN YIFU GOLD ETF HuaAn Fund Management Commodity SHGF , CH BCOMM SCHRODER SSE180 ETF Bank of Communications Schroder Fund Management Equity SSE180 (21.41) CH HUATAI-PB SSE DIVIDEND ETF Huatai-PineBridge Fund Management Equity SSEDIV (20.81) CH MSCI CHINA-A SHARE ETF FUND China Asset Management Equity MXCN1A (21.18) CH CHINA LIFE AMP CSI 500 ETF China Life AMP Asset Management Equity N.A. (24.08) CH HUATAI-PB CSI 500 ETF Huatai-PineBridge Fund Management Equity N.A. (25.38) CH E FUND SSE MID-CAP ETF E Fund Management Equity SH (23.68) CH C-AMC SH-HK STOCK CN HSI ETF China Asset Management Equity HSI (14.09) CH CHINA SOUTHERN SSE 380 ETF China Southern Fund Management Equity SH (25.27) CH CHINAAMC CONSUMER STAPLES China Asset Management Equity SH (20.20) CH ICBC CRED SUISSE CENT 50 ETF ICBC Credit Suisse Asset Management Equity SH (22.42) CH BOSERA SSE LARGE CAP ETF Bosera Asset Management Equity SH (17.39) CH INVESCO GREAT WAL SSE 180 EW INVESCO Great Wall Fund Management Equity SH (23.47) 참고 : Ticker, BM 은 Bloomberg 용, 2016 년 2 월 15 일기준자료 : Bloomberg, 삼성증권 삼성증권 19

20 CHINA (Shenzen) Exchange ETF 자산규모상위 30 종목대상 (sort by AUM) Ticker Name 운용사 Asset B.M 수익률 거래대금 AUM (YTD,%) (3M평균, 천달러 ) (US$ M) CH HARVEST CSI 300 INDEX ETF Harvest Fund Management Equity SHSZ300 (20.28) 10, CH E FUND SZSE100 INDEX FUND E Fund Management Equity SI100 (21.50) 6, CH HARVEST CSI 500 ETF Harvest Fund Management Equity SH (25.65) CH E FUND CHINEXT PRICE INDEX E Fund Management Equity SZ (20.56) 105, CH CHINA MERCHANTS SEC DEP MM-A China Merchants Fund Management Money Market N.A. (0.00) 66, CH CHINA SME ETF China Asset Management Equity SZ (23.57) 24, CH BOSERA GOLD OPEN-END ETF Bosera Asset Management Commodity N.A CH CHINA SOUTH KAIYUAN CSI300 China Southern Fund Management Equity SHSZ300 (20.48) CH CHINA UNIVERSAL CSI CONSUM China Universal Asset Management Equity CSIR0932 (18.65) CH E FUND SWIFT CASH MONEY MK-A E Fund Management Money Market N.A. (0.01) 19, CH GF CSI ALL SHARE MED&HLH ETF GF Fund Management Equity N.A. (22.37) CH DACHENG SZSE COMPONENT ETF Dacheng Fund Management Equity N.A. (23.69) CH CHINA AMC HANG SENG ETF China Asset Management Equity HSI (14.65) 3, CH SZSE COMPONENT INDEX FUND ET China Southern Fund Management Equity SICOM (23.71) CH GF CSI ALL SH INFOR TECH ETF GF Fund Management Equity N.A. (25.78) 1, CH GF CSI ALL SH CON DIS IX ETF GF Fund Management Equity SH (25.31) CH UBS SDIC CSI 300 FINL & PROP UBS SDIC Fund Management Equity SH (13.42) CH HARVEST CSI G-E MED TREA BD Harvest Fund Management Fixed Income CSIH1017 (0.43) CH GUANGFA SZSE SEM300 FUND ETF GF Fund Management Equity SZ (27.12) CH ICBC SHENZHEN DVD PRICE ETF ICBC Credit Suisse Asset Management Equity SZ (20.00) CH DACHENG SZSE GROWTH 40 INDEX Dacheng Fund Management Equity SZ (17.37) CH GF CSI ALL SHARE FINA IX ETF GF Fund Management Equity N.A. (20.61) CH HARVEST SME CHINEXT 400 ETF Harvest Fund Management Equity SZ (25.57) CH CHINA UNIVERS CSI HEALTH CAR China Universal Asset Management Equity CSIR0933 (21.57) CH HUARUN YUANDA SME-CN 100 ETF CR Yuanta Fund Management Equity N.A. (22.30) CH INVESCO GREAT WALL CSI500 EF INVESCO Great Wall Fund Management Equity SH (25.48) CH GF CSI ALL SH ENERGY ETF GF Fund Management Equity N.A. (18.94) CH GF CSI ALL SH MATERIALS ETF GF Fund Management Equity N.A. (23.61) CH E FUND GOLD TRADE OP END ETF E Fund Management Commodity SHGF , CH CCB SHENZHEN F60 INDEX ETF CCB Principal Asset Management Equity SZ (19.68) 참고 : Ticker, BM 은 Bloomberg 용, 2016 년 2 월 15 일기준자료 : Bloomberg, 삼성증권 삼성증권 20

21 ASE (Australia Stock Exchange) ETF 자산규모상위 30 종목대상 (sort by AUM) Ticker Name 운용사 Asset B.M 수익률 거래대금 AUM (YTD,%) (3M평균, 천달러 ) (US$ M) STW AU SPDR S&P/ASX 200 FUND State Street Global Advisors Equity ASA51 (8.38) 12, VAS AU VANGUARD AUST SHARES IDX ETF Vanguard Investments Equity AS52 (8.95) 4, AAA AU BETASHARES AUS HIGH INTEREST Betashares Capital Fixed Income N.A , SLF AU SPDR S&P/ASX 200 LISTED PROP State Street Global Advisors Equity AS51PROP VHY AU VANGUARD AUS HIGH YIELD Vanguard Investments Equity TGPVN13A (9.16) 1, VAP AU VANGUARD AU PROP SEC IDX ETF Vanguard Investments Equity AS52PROP USD AU BETASHARES US DOLLAR ETF Betashares Capital Specialty N.A , GOLD AU ETFS PHYSICAL GOLD ETFS Management Co Jersey Commodity GOLDLNPM SFY AU SPDR S&P/ASX 50 FUND State Street Global Advisors Equity ASA31 (9.15) 1, IOZ AU ISHARES S&P/ASX 200 ETF BlackRock Investment Management Equity ASA51 (8.33) 1, VAF AU VANGUARD AUST FI INTERST ETF Vanguard Investments Fixed Income BACM IAF AU ISHARES COMPOSITE BOND ETF BlackRock Investment Management Fixed Income BACM , YMAX AU BETASHARES AUS TOP 20 EQ YLD BetaShares Capital ETFs Equity ASA26 (8.66) ILC AU ISHARES S&P/ASX 20 ETF BlackRock Investment Management Equity ASA26 (10.97) 1, RDV AU RUSSELL HIGH DVD AUS SHARES Russell Investment Management Equity RURAHDIA (11.71) IHD AU ISHARES S&P/ASX DIVIDEND OPP BlackRock Investment Management Equity SPAXDIT (9.52) VGS AU VANGUARD MSCI IND INTL ETF Vanguard Investments Equity EANREXAN (8.10) RGB AU RUSSELL AUS GOVT BOND ETF Russell Investment Management Fixed Income DBLNAUSO , HVST AU BETASHARES AU DVD HARVESTER Betashares Capital Equity N.A. (1.39) SYI AU SPDR MSCI AUS SELECT DVD State Street Global Advisors Equity MSCTAYAG (10.72) WXOZ AU SPDR S&P WORLD EX AUSTRALIA State Street Global Advisors Equity SDAXAT (7.83) RSM AU RUSSELL AUS SEMI-GOVT BOND Russell Investment Management Fixed Income DBLNAUSS UBA AU UBS IQ MSCI AUSTRALIA ETF UBS Asset Management Equity M2CXUBSL (10.38) 1, QUAL AU MKT VECT MSCI WORLD QUALITY Market Vectors ETFs Equity M4CXMVIA (6.19) MVW AU MARKET VECTORS AU EQL WEIGHT Market Vectors ETFs Equity MVMVWTRG (7.30) RCB AU RUSSELL AUS SEL CORP BOND Russell Investment Management Fixed Income DBLNAUCO QOZ AU BETASHARES FTSE RAFI AU 200 Betashares Capital Equity TFRAU200 (8.34) IHOO AU ISHARES GLOBAL 100 AUD HEDGE BlackRock Investment Management Equity SP100AHN (9.67) VGAD AU VANGUARD MSCI IND INTL SH HG Vanguard Investments Equity WHANWHNR (10.41) DJRE AU SPDR DJ GLOBAL REAL ESTATE F State Street Global Advisors Equity DWGRSN (7.00) 참고 : Ticker, BM 은 Bloomberg 용, 2016 년 2 월 15 일기준자료 : Bloomberg, 삼성증권 삼성증권 21