22 Funds Hit Record Beneficiaries, Passive ETFs Lead
According to 集保 statistics, as of October 16, among 86 Taiwan active and passive ETFs, a total of 22 hit record beneficiaries, including 4 active and 18 passive funds, showing passive ETFs have been popular recently, with momentum to overtake active ETFs. Institutional investors point out that entering the U.S. tech earnings week, tech stocks still have bullish catalysts, and the medium- to long-term structure of technology industries such as artificial intelligence and semiconductors has not weakened. The broader market is expected to have a chance to bottom near the quarterly moving average, with index performance first dipping then rebounding. Investors are advised to deploy into Taiwan AI, semiconductor, and technology passive ETFs on market pullbacks, to continue capturing next year's AI infrastructure dividends built by Taiwan stocks on key technologies such as computing chips and servers.
6 Funds Double in 1-Year Total Return
In terms of 1-year performance, as many as 6 ETFs have doubled in recent performance, showing that for Taiwan equity ETFs, whether active or passive, standout performance directly drives buying interest. Compared with beneficiary growth since October and 1-year performance, semiconductor ETFs stood out, including 台新臺灣IC設計00947, 中信關鍵半導體00891, 群益半導體收益00927, which not only each gained over 10,000 beneficiaries since October, but also doubled in 1-year total return including dividends, making them the most eye-catching. As for 台新臺灣半導體30 00904 and 兆豐台灣晶圓製造00913, beneficiaries since October increased by 7261 and 5520 respectively, with 1-year returns also exceeding 100%, both delivering outstanding performance.
Institutions: Balancing Capital Gains and High Dividends
台新00947 and 00904 ETF manager 黃鈺民 said that in October multiple semiconductor ETFs hit record beneficiaries. In addition to attractive high dividend policies launched by investment trust firms, over the past few years semiconductor passive ETF performance has been strong, with medium- to long-term total returns clearly exceeding the broader market and market-cap ETFs, offering the dual advantages of capital gains and high dividends, which is also the main reason investors have flocked to them this year. He noted that U.S. Treasury yields remaining high will create headwinds for high-valuation semiconductor stocks, market confidence is easily affected by noise, and short-term consolidation is likely. However, with U.S. and Taiwan股市 linked, and under a liquidity-driven rally, rotation among Taiwan semiconductor subsectors is fast. Even when strong semiconductor stocks encounter short-term negative events, pullbacks have mostly attracted bargain-hunting support, showing positive semiconductor market sentiment, mostly from long-term investors optimistic on semiconductors.
AI Capex Continues to Grow, Peak-Season Rally Expected
Looking ahead to the fourth quarter and even 2027, from the earnings reports and latest company outlooks of the four major U.S. cloud service providers, 黃鈺民 emphasized that global AI capital expenditure continues to increase, model improvements and application iterations are accelerating positive impacts across industries, while Taiwan's semiconductor industry remains the core of value in the global semiconductor supply chain, with the bull market lasting at least through 2027. A semiconductor peak-season rally is still expected from year-end to early next year. In addition, Tesla recently unveiled the next-generation Roadster flying sports car, combining SpaceX propulsion technology to hover, flip and land, targeting mass production in 2028, involving new business opportunities for Taiwan ASIC and IC design supply chains, plus future expansion into self-driving cars, robots and AI computing. Demand for related advanced-process chips and ASIC chips is expected to be strong, also driving performance of Taiwan suppliers including 台積電 and 創意, with optimistic medium- to long-term outlook. Investments always involve risks, funds have gains and losses, investors should read the prospectus carefully before subscribing, prudently assess risks and bear investment results.