Retail Investors Favor Defensive ETFs Despite Semiconductor Rebound

Nine of the ten best-performing Korean-listed ETFs from 1–7 September were semiconductor products, with leveraged single-stock SK Hynix funds gaining roughly 11–12%. Retail investors nevertheless took profits from semiconductor ETFs and bought products tracking the S&P 500 and Nasdaq 100, as well as defensive covered-call and money-market funds. The flows were interpreted as caution over market volatility and rising rates, with individuals prioritizing cash parking and downside moderation over recent short-term returns.