Beneficiaries Hit New High for 3rd Straight Week
Taiwan stocks recently saw intensified volatility, while investor enthusiasm for ETFs remained unabated. According to Taiwan Depository & Clearing Corporation statistics as of last as of last Friday 10月30日, Taiwan stock ETF beneficiaries set a new high for the 3rd straight week, latest reaching 1975萬7703 person-times, up about 17.7萬 person-times in a single week, only about 24.2萬 person-times short of the 2000萬 mark, with a cumulative increase of 758萬4213 person-times this year. Including Yuanta Taiwan 50 (0050), Yuanta High Dividend (0056), Actively Managed CTBC Taiwan Income (00406A) and Capital Semiconductor Income (00927) and 24 other Taiwan stock ETFs, beneficiaries hit new highs together, showing market funds continue to focus on market-cap, actively managed and semiconductor technology products.
0050 Remains Most Popular
Looking at individual ETF beneficiary counts, 0050 remained the most popular, with the latest beneficiary count reaching 374萬1565, up 2萬1151 from the previous week. 0056 ranked second with 175萬2954 beneficiaries, up 1萬1722 in a single week. Cathay Sustainable High Dividend (00878) reached 171萬1530 beneficiaries, up 4716, showing large market-cap and high-dividend ETFs remain attractive. Fubon Taiwan 50 (006208) added 8778, latest reaching 72萬7518. KGI Taiwan TOP 50 (009816) reached 99萬2649 beneficiaries, just one step away from the million mark.
Actively Managed and Semiconductor ETFs Attract Funds
Actively managed ETFs grew prominently. Benefiting from ex-dividend trading, Actively Managed CTBC Taiwan Income (00406A) surged by 5萬5039 in a single week, with the latest beneficiary count climbing to 45萬5610. Actively Managed Uni-President Taiwan Growth (00981A) added 1萬6464, bringing total to 97萬337, gradually approaching the million mark. Actively Managed Capital Core 50 (00415A), newly listed in mid-10月, also added 5522, latest reaching 5萬4666. On the semiconductor theme, Capital Semiconductor Income (00927) added 3062 in a week, reaching 23萬9918 beneficiaries. However, popularity of high-dividend ETFs did not rise across the board, as Capital Taiwan Select High Dividend (00919) latest beneficiary count was 149萬8736, down 1814 from the previous week.
Institutions See Stock-Picking Market
The Capital Investment Trust Taiwan ETF research team said Taiwan stocks are still in a bullish consolidation phase, with AI supply chain fundamentals unchanged, but as stock prices have accumulated gains, the market is gradually entering a phase of fund rotation and chip digestion. For general investors, stock picking has become more difficult, and ETFs can be used to diversify single-stock risk and capture medium- to long-term growth opportunities in Taiwan stocks. Actively Managed Capital Core 50 (00415A) manager Hsu Yu-chih noted large cloud service providers continue to expand AI infrastructure investment, but there is a time lag between capital expenditure and revenue recovery, pressuring free cash flow, and a stock-picking rather than market-picking pattern is expected ahead. Capital Semiconductor Income (00927) manager Hsieh Ming-chih believes the market focus has shifted from computing power expansion to revenue realization and cash recovery capability, with 3奈米 wafer capacity, ABF substrates and CoWoS advanced packaging remaining key links. Notably, an increase in ETF beneficiary counts does not necessarily mean net fund inflows, and investment strategy, industry concentration and market volatility risks must still be assessed when deploying.