xETFs Lists SMNG, a Single-Ticker Samsung Group ETF for U.S. Investors

Understanding the chaebol

South Korea’s economy has long been shaped by chaebol: large conglomerates controlled by a founding family and typically made up of many diversified affiliates.

The model relies on interlocking ownership. Through cross-shareholdings, a controlling family can steer an entire group while holding relatively small direct stakes, which has long drawn scrutiny over governance practices that may favor controlling shareholders over minority investors. The Korea Fair Trade Commission (KFTC) designates large business groups each year, and Samsung ranked first by assets in its 2025 designations.

Closing an access gap

For U.S. investors, the obstacle has been practical. Samsung Group’s listed companies trade primarily on the Korea Exchange, and as xETFs CEO Johnny Wu points out, “no Samsung Group companies have U.S. listings.” Exposure to the group beyond Samsung Electronics has typically required direct access to the Korean market or a position in a broader fund.

The gap stands out given the group’s weight in its home market. According to xETFs citing Bloomberg data, Samsung Group companies represent approximately 33% of the market capitalization of the Korean stock market, with a combined market value of about $1.5 trillion as of September 22, 2026.

Broad Korea-focused ETFs do hold Samsung companies, but in Wu’s view they “dilute the impact and scope of all that Samsung Group does and where it leads.” SMNG takes the opposite route, with a portfolio limited to Samsung Group companies. “While Samsung Electronics is at the center of Samsung Group, the broader investment opportunity extends beyond it,” said Kenneth Wong, CIO of xETFs, who points to the commercial relationships, technology, talent and supply chains shared across group companies.

Inside the portfolio

SMNG is an actively managed ETF seeking long-term capital appreciation. Eligible companies are those designated by the KFTC as Samsung Group members or otherwise identified as affiliates through public information. The fund holds 16 companies across technology, financials, consumer and services, industrials, and life sciences, and will not invest more than 20% of its assets in any single company at the time of investment.

At inception, the largest initial target weights are Samsung Electronics and Samsung Electro-Mechanics at 20% each, followed by Samsung SDI at 7.5%. Samsung Electronics is a global leader in smartphones, memory chips and televisions. Samsung Electro-Mechanics produces the advanced package substrates on which AI accelerators and high-performance server chips are built. Samsung SDI manufactures lithium-ion batteries and energy storage systems increasingly used to support data centers and power grids.

The portfolio also reaches into life sciences, construction, shipbuilding and insurance, with holdings such as Samsung Biologics, Samsung C&T, Samsung Heavy Industries and Samsung Life Insurance at initial target weights of around 4.5% each. Weights may change at the adviser’s discretion.

The fund has a gross expense ratio of 0.65%. Its adviser, Teucrium Investment Advisors, has contractually agreed to reduce the management fee to 0.49% until at least October 20, 2027.

Risks to weigh

SMNG is non-diversified and deliberately concentrated. Its performance will depend significantly on the Samsung Group, in particular Samsung Electronics, and the fund will not diversify away from the group even when it underperforms broader markets. Because affiliates are interconnected, adverse developments at one company may affect others. The chaebol structure itself adds governance risk, as group-level decisions may not align with minority shareholders’ interests.

Investors also take on semiconductor industry, currency and single-country risks tied to South Korea, as well as counterparty risk if the fund uses swap agreements. As a new fund, SMNG has no operating history.

A targeted exposure

For investors seeking exposure beyond a single stock while staying more focused than a broad Korea allocation, SMNG offers a new implementation route. Its concentrated design positions it as a targeted exposure rather than a substitute for broad international or emerging-market allocations.

The Fund is not sponsored, endorsed, sold or promoted by Samsung or any Samsung Group company.

This article is part of an advertising partnership between xETFs and Trackinsight. Trackinsight and its affiliates are compensated by xETFs to promote the Fund, which creates a potential conflict of interest. Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision.

For SMNG current holdings, visit www.xetfs.com/smng.  Holdings are subject to change and should not be considered investment advice.

Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s Prospectus and Summary Prospectus, which may be obtained by calling (877) 376-0082 or visiting www.xetfs.com/smng . Read the Prospectus and Summary Prospectus carefully before investing.

There is no guarantee the Fund will achieve its objective.

Samsung Group Risk. The Fund’s assets are concentrated in companies affiliated with a single South Korean business group. The Fund’s performance will depend significantly on the overall condition, performance, and reputation of the Samsung Group and, in particular, of Samsung Electronics Co., Ltd. and other large group affiliates that are expected to represent a substantial portion of the Fund’s assets. Samsung Group Companies are interconnected and adverse developments affecting one Samsung Group Company may negatively affect other members of the group and the value of the Fund’s portfolio as a whole, even where those members’ businesses are otherwise unrelated.

​Single Country Risk. Because the Fund may invest a significant portion of its assets in companies in a specific country and region, the Fund is subject to greater risks of adverse developments in that country, region and/or the surrounding regions than a fund that is more broadly diversified geographically. Political, social or economic disruptions in the country or region, even in countries in which the Fund is not invested, may adversely affect the value of investments held by the Fund.​

New Fund Risk. The Fund is a recently organized investment company with no operating history. As a result, prospective investors have no track record or history on which to base their investment decision.

Foreign Securities Risk. Investments in non-U.S. securities involve certain risks that may not be present with investments in U.S. securities. These risk factors can make investments in the Fund more volatile and potentially less liquid than other types of investments.

Teucrium Investment Advisors, LLC serves as the Funds’ investment adviser and WallStreetX ETFs, Inc. DBA xETFs serves as the Funds’ sub-adviser. The Funds are distributed by PINE Distributors LLC, which is not affiliated with Teucrium Investment Advisors, LLC, xETFs, Trackinsights or any of their respective affiliates.

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