"It Was Neither Gold nor Bitcoin"—the KOSPI 200 Had the Highest Investment Return This Year

[Financial News] Among major investment vehicles this year, ETFs tracking the KOSPI 200 Index posted the highest returns. The KODEX 200 ETF has gained more than 80% since the start of the year, while the five major banks' fixed-term deposits returned less than 2%.
According to an analysis of investment returns by asset class released by Daishin Securities on the 27th, the price of the KODEX 200 ETF, which tracks the KOSPI 200 Index, rose from 60,460 won on January 2 to 109,285 won on the 20th. Its return since the start of the year was 80.76%.
The KODEX 200 ETF tracks the performance of the KOSPI 200 Index, which consists of 200 leading large-cap domestic stocks. Although the KOSPI 200 Index fell more than 20% from its peak in July, the ETF's cumulative return since the start of the year was the highest among the assets surveyed.
The gap in returns compared with bank deposits was also substantial. During the same period, one-year fixed-term deposits at the five major banks—Nonghyup Bank, KB Kookmin Bank, Shinhan Bank, Hana Bank and Woori Bank—returned 1.99%. Compared with the KODEX 200 ETF, that was a difference of approximately 40.6 times.
The fixed-term deposit return was calculated on a prorated daily basis for the interest that could be earned over 262 days from January 1 through the 20th, using the five banks' average annual base interest rate of 2.77% as of the reference date. Returns for all assets were calculated before management fees and taxes.
Crude oil also posted a strong return. The price of West Texas Intermediate crude oil (WTI) for the front-month contract rose from $57.41 to $96.08 per barrel during the same period, gaining 67.36%.
The average return of 272 domestic actively managed equity funds with at least 10 billion won in assets under management was 58.07%.
By contrast, the State Street SPDR S&P 500 ETF Trust (SPY), which tracks the Standard & Poor's 500 Index (S&P 500), posted a return of 11.08% over the same period, lower than domestic equity-related products.
Gold, Bitcoin and bonds were priced below, or had lower index levels than, at the start of the year.
The domestic retail price of gold fell from 883,000 won per 3.75 grams (one don) in early January to 860,000 won on the 20th, down 2.60%. Bitcoin also fell from approximately $89,953 to $80,793 during the same period, recording a return of -10.18%.
Bonds also declined from the start of the year. The Korea Investors Service (KIS) composite bond index, which reflects both interest income and gains or losses from changes in bond prices, fell from 279.70 to 269.15, down 3.77% since the beginning of the year.
The won strengthened against the dollar and the yen. The won-dollar exchange rate fell from 1,466.70 won per dollar to 1,380.30 won, a decline of 4.59%, while the won-yen exchange rate fell from 922.70 won per 100 yen to 884.33 won, down 4.16%.
Meanwhile, securities market analysts say that if pressure from interest rates and international oil prices eases, domestic stocks could attempt further gains, led by semiconductor and artificial intelligence (AI)-related shares.
[email protected] Han Seung-gon Reporter