Amid volatility in global equity markets, artificial intelligence (AI) value chains, defense, and income products are worth watching, according to advice offered in an interview. With AI advances keeping investment demand high across the related value chain, the war between the United States and Iran has renewed the importance of defense technologies and companies such as drones. Income products in particular are seen as a way to prepare for market uncertainty, as they can offer expectations of steady income.
Ryan O'Connor, CEO of Global X, said this in an interview with The Seoul Economic Daily at Mirae Asset Global Investments' headquarters in Grand Seoul in Jongno, Seoul, on Thursday. "The increased market volatility this year is due to closely interconnected geopolitical factors, and thanks to ongoing structural tailwinds such as AI advancement, the fundamentals outlook remains very positive, so there is no reason to pull out of the stock market," he said. It is the first CEO interview since Mirae Asset Group acquired Global X in 2018.
From this perspective, he laid out a plan to roll out AI value chain, defense, and income exchange-traded funds (ETFs) as "killer products" this year. AI in particular was a key topic at the "Mirae Asset Rally 2026" event held this month. "The market's attention is shifting to 'which stage of the AI value chain to allocate capital to,'" he said. "The AI ecosystem encompasses defense, infrastructure, power, robotics, semiconductors, data centers, and even raw materials such as uranium, and we will expand our product lineup by focusing on related products and themes."
The AI-theme ETF "Global X AIQ," launched in 2018, has grown into a representative "AI mega fund" with assets under management (AUM) reaching $10.3 billion (about 16 trillion won), reflecting the firm's intent to lead the related investment market. The recently launched AI semiconductor and quantum computing-theme ETF "Global X CHPX" has seen its AUM swell to $200 million (308.2 billion won) within six months of launch.
The firm is also preparing a second "SHLD" product to surpass its flagship defense-theme ETF "Global X SHLD." "SHLD recorded high returns by expanding its weighting in European defense companies," O'Connor said. "When we launch an ETF, we get ideas from major investors, and we are considering a defense ETF mainly holding defense companies in Asia, linked to the region."
To diversify income ETFs, the firm is preparing additional products of the same type as "Global X EDGQ," which tracks the Nasdaq 100 Index and aims to pay weekly dividends for stable returns, or "Global X EDGX," which tracks the Solactive GBS United States 500 Index. He also said U.S. infrastructure-related theme products, which have high growth potential thanks to continued investment, are worth watching. "In the case of 'Global X PAVE,' which invests in U.S. infrastructure, its AUM reached $13 billion (20 trillion won), our first to do so," he explained.
He noted that inquiries related to SpaceX, which is scheduled to list on the 12th of this month, have recently increased. Park Hyeon-joo, chairman and global strategy officer (GSO) of Mirae Asset Group, was also reported to have mentioned at this Rally that "the vision for SpaceX is expected to completely change daily life." "When SpaceX lists, it is expected to be incorporated into the Global X space tech ETF (ORBX)," O'Connor said. "Recently, ORBX has received the most interest and inquiries from our sales team."
Global X, the U.S. subsidiary of Mirae Asset Global Investments, had AUM of $8.1 billion (12 trillion won) at the time of acquisition in 2018, but it grew more than 12-fold to $100.6 billion (154 trillion won) as of June 2 this year, showing a distinctive presence among leading U.S. competitors. This is why "TIGER" in Korea and "Global X" overseas are credited with driving Mirae Asset Global Investments' global ETF AUM past 400 trillion won.
Behind the steep growth lie the "customer-first" strategy emphasized by Chairman Park Hyeon-joo and a differentiation strategy centered on "killer products." "We will release innovative products so that ETFs can serve as a 'window to the future' for investors," O'Connor stressed. Asked about differences from other firms, he said, "Competitors pour out an average of four products a day, and companies that just briefly dip their feet into the ETF market like a fad are merely 'tourists.'" He added, "Global X holds 115 ETFs based on thematic strategies, and 20 of them each have AUM exceeding $1 billion (1.5 trillion won)."
This year in particular, the firm is focusing on expanding touchpoints with individual investors. Improving its website is a representative example. Since last year, it has also held events for wealth management experts who help individual investors with asset management. "More than 200 wealth management advisors who move $7 billion of our AUM gathered in one place, and we plan to hold two more events by the end of this year," he explained.
Asked about his future AUM target, O'Connor expressed strong confidence, saying, "Many forecasts suggest the U.S. ETF market will grow to $40 trillion in 10 years, and if we develop products for investors, our AUM will naturally expand as well."
