This is a passive ETF that pursues a daily objective in the opposite direction of the performance of the Solactive US Artificial Intelligence & Big Data Index. The index is designed to reflect securities of US companies with business in artificial intelligence applications and big data, so it can react sensitively to moves in theme stocks.

It suits investors who have a clear purpose of responding to daily declines in the underlying index and who can keep managing the risks that come with the leveraged structure and daily rebalancing.

It is a passive (index-tracking) ETF managed by Direxion.

The product targets amplified exposure in the opposite direction of the underlying index's performance for the day, and the daily target is applied again on the next trading day. As a result, when it is held for more than a few days, cumulative performance can differ from a simple repetition of the daily target, and the market path and volatility have a large influence on results.

• Downside exposure to the artificial intelligence and big data theme
• An inverse structure that reapplies the daily target

Assets under management (AUM) stand at $8.3M, and the total expense ratio is 1.05% per year.

For inverse leveraged products, the daily tracking characteristics relative to the underlying index are central, so before buying it is worth checking the trading environment, the cost burden, and the holding period together.

The performance of this product can vary greatly depending on the direction of artificial intelligence and big data stocks and on market volatility. In declining phases, a response in the same direction as the target can be expected, but in sharp rebounds or choppy, back-and-forth phases, the daily rebalancing structure means results by holding period can differ from intuition.

Fund flows into thematic inverse leveraged products can be affected by short-term demand for risk avoidance and by volatility across technology stocks. Interest can grow when more participants expect the underlying index to fall, but if the market direction changes, fund flows and the trading environment can shift quickly as well.

Its strength is clear daily inverse exposure that responds to a theme's decline, but the core risk is that daily rebalancing and high volatility make long-term holding results hard to predict.

The SQQQ ETF shown in the table provides inverse leveraged exposure centered on the Nasdaq, while the SOXS ETF focuses more narrowly on the semiconductor sector. The SH ETF and the PSQ ETF provide inverse exposure to the broad US stock market and to the Nasdaq, respectively, so their leverage levels and tracked benchmarks differ. The SPXU ETF is an inverse leveraged option that responds to declines in US large-cap stocks, and when comparing it with the AIBD ETF, it is worth looking at theme concentration and product structure together.

When evaluating the AIBD ETF, you should check not only the direction of the underlying index but also the daily target, the holding period, and the trading environment together. For this product, a perspective that manages the gap between a short-term market thesis and the actual profit and loss path matters more than simply estimating long-term cumulative returns.

The core risk of the AIBD ETF stems from leverage and daily rebalancing. If the index rises or moves up and down repeatedly, cumulative results that differ from expectations can appear, and the volatility of theme-related stocks, liquidity conditions, and exchange rate movements can also affect the profit and loss felt by Korean investors.

The AIBD ETF is a product designed to respond to a short-term decline scenario in the artificial intelligence and big data theme. It is appropriate to understand the gap between the daily target and long-term cumulative results, check the fees, the trading environment, and the nature of quarterly distributions together, and then judge whether it fits your own strategy and risk management standards.