Exploring Two Nuclear Energy ETFs in Korea:
HANARO Nuclear iSelect (Ticker: 434730:KRX) vs. ACE Nuclear Theme Deep Search (Ticker: 457540:KRX)
As global attention increasingly shifts toward sustainable and reliable energy sources, nuclear power is gaining traction as a key player in the transition to carbon neutrality. South Korea, with its advanced nuclear technology and government-backed initiatives, is well-positioned to benefit from this trend. For investors interested in gaining exposure to Korea’s nuclear energy sector, two ETFs stand out: HANARO Nuclear iSelect ETF (Ticker: 457310.KQ) and ACE Nuclear Theme Deep Search ETF (Ticker: 457540.KQ). In this post, I’ll compare these two ETFs in terms of their investment strategy, holdings, recent performance, dividend history, and key differences.
Overview: Strategy and Structure
Both ETFs are Korea-listed and focus on companies deeply involved in the nuclear power industry. However, their selection methodology and sector emphasis differ slightly.
· HANARO Nuclear iSelect ETF, managed by NH-Amundi Asset Management, tracks the iSelect Nuclear Index. This index uses a machine learning-based keyword analysis to identify companies associated with nuclear technology and energy. It selects the top 20 stocks by market capitalization and weights them accordingly.
· ACE Nuclear Theme Deep Search ETF, managed by Korea Investment Management, is based on the Deep Search Nuclear Theme Index. This ETF leverages thematic data analysis using DeepSearch's proprietary algorithms to identify and track nuclear-related companies. Like HANARO, it also holds 20 companies, weighted by market cap.
The HANARO ETF tends to include companies with a broader exposure to the energy infrastructure and heavy industry sectors, while the ACE ETF is more focused on companies directly involved in the nuclear supply chain, such as design, maintenance, and reactor components.
Performance Comparison: 12-Month Returns
Over the past year (as of May 2025), both ETFs have delivered strong returns, reflecting renewed optimism in the nuclear sector:
| Period |
HANARO Nuclear iSelect |
ACE Nuclear Theme Deep Search |
| 12-month |
+52.87% |
+40.10% |
| 6-month |
+62.75% |
+45.20% |
| 3-month |
+25.80% |
+18.50% |
The HANARO ETF has outperformed its counterpart over multiple time frames, largely due to higher exposure to large-cap industrial firms that have also benefited from Korea’s increased investment in energy infrastructure.
Top 10 Holdings & Portfolio Composition
HANARO Nuclear iSelect (Ticker: 457310.KQ)
| Rank |
Company Name |
Weight (%) |
| 1 |
Doosan Enerbility |
23.01% |
| 2 |
Korea Electric Power Corporation |
14.17% |
| 3 |
Hyundai Engineering & Construction |
12.82% |
| 4 |
LS ELECTRIC |
12.53% |
| 5 |
HD Hyundai Electric |
10.10% |
| 6 |
Hyosung Heavy Industries Corporation |
8.30% |
| 7 |
KEPCO Plant Service & Engineering |
3.14% |
| 8 |
KEPCO Engineering & Construction |
2.55% |
| 9 |
Sanil Electric |
2.54% |
| 10 |
Daewoo Engineering & Construction |
2.52% |
1. Doosan Enerbility Co., Ltd. (034020.KQ) – 23.01%
· A leading provider of nuclear reactors and related services, playing a pivotal role in Korea's nuclear infrastructure.
2. Korea Electric Power Corporation (015760.KQ) – 14.17%
· The primary electric utility in South Korea, operating nuclear, hydroelectric, and thermal power plants.
3. Hyundai Engineering & Construction Co., Ltd. (000720.KQ) – 12.82%
· Engaged in the construction of nuclear power plants and related infrastructure projects.
4. LS ELECTRIC Co., Ltd. (010120.KQ) – 12.53%
· Manufactures electrical equipment and automation systems, supplying critical components to nuclear facilities.
5. HD Hyundai Electric Co., Ltd. (267260.KQ) – 10.10%
· Specializes in electric power equipment, including transformers and switchgear, essential for nuclear power plants.
6. Hyosung Heavy Industries Corporation (298040.KQ) – 8.30%
· Produces high-voltage transformers and industrial machinery used in nuclear energy applications.
7. KEPCO Plant Service & Engineering Co., Ltd. (051600.KQ) – 3.14%
· Provides maintenance and engineering services for power plants, including nuclear facilities.
8. KEPCO Engineering & Construction Company, Inc. (052690.KQ) – 2.55%
· Offers engineering and design services for nuclear power plants.
9. Sanil Electric Co., Ltd. (062040.KQ) – 2.54%
· Manufactures electrical equipment, such as circuit breakers and switches, used in power generation.
10. Daewoo Engineering & Construction Co., Ltd. (047040.KQ) – 2.52%
· Involved in the construction of energy facilities, including nuclear power plants.
ACE Nuclear Theme Deep Search (Ticker: 457540.KQ)
(Exact weightings not fully disclosed as of this writing, but top components include):
· Doosan Enerbility
· KEPCO KPS
· KEPCO E&C
· Woori Technology
· BHI
· Iljin Power
· Daewoo E&C
· GS E&C
· Hyundai E&C
· Samsung C&T
1. Doosan Enerbility Co., Ltd. (034020.KQ)
· As previously mentioned, a key player in nuclear reactor manufacturing and services.
2. KEPCO Plant Service & Engineering Co., Ltd. (051600.KQ)
· Provides essential maintenance services for nuclear power plants.
3. KEPCO Engineering & Construction Company, Inc. (052690.KQ)
· Specializes in the design and engineering of nuclear facilities.
4. Woori Technology Inc. (032820.KQ)
· Develops safety systems and instrumentation for nuclear reactors.
5. BHI Co., Ltd. (083650.KQ)
· Supplies heat exchangers and other components for nuclear power plants.
7. Iljin Power Co., Ltd. (094820.KQ)
· Manufactures electrical equipment used in power generation, including nuclear.
8. Daewoo Engineering & Construction Co., Ltd. (047040.KQ)
· Engaged in constructing nuclear energy infrastructure.
9. GS Engineering & Construction Corp. (006360.KQ)
· Participates in large-scale energy projects, including nuclear facilities.
10. Hyundai Engineering & Construction Co., Ltd. (000720.KQ)
· As previously noted, involved in nuclear power plant construction.
11. Samsung C&T Corporation (028260.KQ)
· Engages in engineering and construction projects, including those related to nuclear energy.
Compared to HANARO, the ACE ETF leans more heavily into companies directly tied to nuclear reactor design, maintenance, and small modular reactor (SMR) technology.
Conclusion
For investors aiming to capitalize on Korea's burgeoning nuclear energy sector, both HANARO Nuclear iSelect and ACE Nuclear Theme Deep Search ETFs present viable options. HANARO offers broader exposure to industrial and infrastructure companies supporting nuclear energy, while ACE provides a more concentrated focus on firms directly involved in nuclear technology and services. Your choice between the two should align with your investment strategy and risk tolerance.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please conduct your own research or consult a financial advisor before making investment decisions.
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