Korea Investment & Securities Co., Ltd. has launched four new ETNs (Exchange Traded Notes) listed on the Korea Exchange (KRX) on 21 May 2026.
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Article created by the editorial staff of ETFWorld.co.uk
Sung-Hwan Kim, CEO of Korea Investment & Securities
The products track the performance of four Solactive leveraged indices: the Solactive Gold Total Return 1x Long Leverage Index, the Solactive Gold Total Return 1x Short Leverage Index, the Solactive Silver Total Return 1x Long Leverage Index and the Solactive Silver Total Return 1x Short Leverage Index.
The assigned trading codes are as follows:
| ETN Name | Ticker Code |
| KIS Gold Futures ETN | 570121.KS |
| KIS Inverse Gold Futures ETN | 570122.KS |
| KIS Silver Futures ETN | 570123.KS |
| KIS Inverse Silver Futures ETN | 570124.KS |
Technical structure of the indices
The underlying indices employ a rules-based and transparent methodology. The two gold indices are derived from the Solactive Future Series 5-Day Roll Gold Excess Return USD Index. The two silver indices are derived from the Solactive Future Series 5-Day Roll Silver Excess Return USD Index.
The construction involves the application of a defined leverage factor, the inclusion of interest rate effects and a daily financial adjustment. The indices are calculated in real time during the trading session, with an official closing level published for each calculation day. Rebalancing takes place daily, with the aim of maintaining the target leverage factor.
The Total Return component combines the performance of the underlying futures index with a short-term interest rate and the daily financial adjustment. This structure allows for the replication of hypothetical exposure to gold and silver futures strategies, with positive or inverse leverage.
Market context
Gold and silver remain assets closely monitored by market participants during periods of macroeconomic uncertainty, geopolitical developments and shifts in interest rate expectations. Against this backdrop, listed products linked to precious metals indices offer standardised exposure to defined futures strategies, with publicly available and verifiable construction rules.
The listing on the Korea Exchange expands the range of leveraged and inverse instruments available to the Korean market, in line with the growth in commodity-structured products observed in recent years in the local retail and professional segments.
Timo Pfeiffer, Chief Markets Officer at Solactive, said: “We are pleased to further expand our collaboration with Korea Investment & Securities through the launch of these new ETNs. Gold and silver remain closely followed asset classes among market participants, and the indices provide transparent and rules-based access to long and short precious metals exposure.”
Investor notes
ETNs are debt instruments issued by Korea Investment & Securities. Performance depends on the issuer’s creditworthiness as well as the performance of the underlying index. 1x leverage implies a daily multiplication of the benchmark index’s performance; the compounding effect over multi-day horizons may result in deviations from the leverage applied to the period. Daily rebalancing is a structural element of the methodology and affects the return profile in the event of volatility.
Source: ETFWorld.co.uk
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