SRP coverage continues to highlight the increasing role played by ETFs in the structured product space.
South Korea is set to tighten deviation-rate management for all exchange-traded funds (ETFs) and exchange-traded notes (ETNs), while introducing mandatory simulated trading for new investors in single-stock leveraged and inverse products from 19 August.
Under the revised rules, securities firms’ obligations to manage deviation rates, measured at closing prices, will be tightened for all ETFs and ETNs. The permitted deviation will fall from three percent to two percent for domestic products, while the threshold for overseas products will decline from six percent to five percent. The new guidelines will also clarify how deviation rates are calculated, including the treatment of negative deviation rates.
Meanwhile, in the US, US-listed ETFs attracted a record US$1.23 trillion in net inflows during the first seven months of 2026, with July alone bringing in more than US$193 billion, according to ETFGI.
The US ETF industry recorded year-to-date net inflows of US$1.23 trillion at the end of July, the highest level on record, according to ETFGI's latest industry landscape report.
July contributed US$193.42 billion in net inflows, extending the industry's run of consecutive monthly inflows to 51 months. Assets invested in US ETFs stood at US$15.74 trillion at the end of July, slightly below the record US$15.78 trillion reached in June. Total assets have increased 17.3% since the end of 2025, when they stood at US$13.43 trillion.
Chicago-based Amplify ETFs has further expanded its ETF product suite with the filing of the Amplify S&P 500 Buffered Autocallable Yield Opportunity ETF (YO). The fund seeks to generate high monthly income while limiting downside market risk through exposure to the S&P 500 Buffered Autocallable Yield Opportunity Index.
The S&P 500 Buffered Autocallable Yield Opportunity Index reflects the total return performance of a theoretical portfolio of synthetic autocallable notes linked to the US Volatility Target Index.
The ETF will gain exposure to the underlying index through swap agreements.
Furthermore, the autocallables will provide monthly coupon payments based on an annualised coupon rate of the secured overnight financing rate (SOFR) plus eight percent, with a buffer embedded within each autocallable note against the first 25% of losses in the US Volatility Target Index at maturity.
SRP also looked at some of the most traded actively managed certificates (AMCs) on the SIX Swiss Exchange during July as well as a selection of private placements linked to non-tradable underlyings.
The Whisky, Fine Wine & Spirits AMC is issued through Swiss AMC. The certificate deploys capital into physical whisky casks, bottled rare spirits, and fine wine across a five-year term – March 2026 to March 2031 – targeting a contractual 7.0% annual coupon plus a 20% performance participation above that hurdle.
Swissquote’s tracker was the most traded investment product on SIX in July, achieving CHF13.9m (US$17.1m) in turnover from 61 transactions – up from CHF11.4m (from 50 trades) in June. The underlying Swissquote Ambitious Portfolio Index is a dynamic index which is discretionarily managed by Swissquote Bank (index sponsor) and calculated by Leonteq Securities. As of 12 August 2026, the index universe included, among others, the State Street SPDR S&P 500 Ucits ETF (31.1%), UBS Core SPI ETF (25.9% weight), iShares MSCI World ex-USA Ucits ETF (14.8%) and Invesco Bloomberg Commodity Ucits ETF (5.0%).
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