Hello, this is JSCC2020.
Yesterday, we faced a “Currency Shock” as the exchange rate plummeted by -1.5%. However, today (January 27th), the tide has turned. As we continue Day 2 of our Real-World Test, we are seeing a significant recovery in account value thanks to the Won/Dollar exchange rate bouncing back to 1,451.60 KRW (+0.53%). While the market indices are still in a “wait-and-see” mode, the rising exchange rate has acted like a protective shield for our portfolio.
1. Top 3 Market Issues for Today
- The Rebound of USD/KRW (+0.53%): After dropping to the 1,440 range yesterday, the exchange rate rose by 7.70 KRW, closing at 1,451.60. For KRW-listed US ETFs (currency-unhedged), this rebound directly translates into a recovery in valuation.
- FOMC Jitters: With the Fed’s interest rate decision looming this week, trading remains cautious. Most indices are moving sideways as investors await clarity on inflation and potential rate cuts.
- Big Tech Earnings Tension: We are currently on the doorstep of earnings reports from giants like Tesla and Apple. This has caused a slight dip in the Nasdaq, but the currency gain is offsetting the loss.
Here is today result.
2. [Group 1] Nasdaq 100 & Covered Call Comparison
The Winner for Group 1: KODEX U.S. Nasdaq 100 (-0.28%)
This group focuses on Nasdaq growth. Today, KRW-listed ETFs outperformed US-listed ones due to the currency factor.
| Strategy | Ticker | Current Return | Analysis & Rank |
| KR Index | KODEX U.S. Nasdaq 100 | -0.28% | 🏆 1st Place! Best recovery as the KRW-rise neutralized the index dip. |
| KR Covered | KODEX Nasdaq 100 Daily | -0.39% | 🥈 2nd Place. Solid defense via daily option premiums. |
| KR 2x Lev | TIGER Nasdaq 100 Lev | -0.40% | 🥉 3rd Place. Strongest rebound momentum from yesterday’s low. |
| US 2x Lev | ProShares QLD | -0.60% | Slight dip as it tracks the US index without the KRW-rise benefit in its base price. |
| US Covered | JEPQ / GPIQ | -1.2% range | Waiting for the US market open to recover price levels. |
3. [Group 2] SCHD, Dividend Covered Call, & Treasuries
The Winner for Group 2: SOL U.S. 30Y Treasury Covered Call (-0.90%)
This group provides stability. Today’s rebound helped bridge the gap from yesterday’s losses.
| Strategy | Ticker | Current Return | Analysis & Rank |
| KR Treasury | SOL U.S. 30Y Treasury CC | -0.90% | 🏆 1st Place! High stability with currency-driven gains. |
| KR Dividend | RISE U.S. Dividend 100 Daily | -1.67% | 🥈 2nd Place. Recovering fast after yesterday’s currency hit. |
| KR Seohak | KODEX U.S. Seohak Ant | -1.78% | Benefited from the exchange rate despite individual stock volatility. |
| US Dividend | Schwab SCHD | -1.98% | Currently lagging due to a temporary correction in value stocks. |
4. Day 2 Insights: “The Power of Currency-Unhedged Assets”
During this Day 2 of our Real-World Test, we’ve clearly seen that when the index stays flat but the exchange rate rises, our KRW-listed ETFs (like KODEX Nasdaq 100) act as the primary engines of recovery.
- Currency as a Buffer: Yesterday’s “poison” became today’s “medicine.” This is the beauty of holding dollar-denominated assets.
- The Infinite Income Strategy: Even when the total return is slightly negative, the JEPQ and Daily Covered Call premiums continue to accumulate. These “sale periods” allow us to reinvest those dividends to buy more shares at a lower cost.
Closing Thoughts
My account balance is higher today than it was yesterday, and that is what matters. We have successfully survived the currency volatility of the last 48 hours. Now that the exchange rate has stabilized our floor, we just need the Nasdaq to provide the “spark” during this earnings week.
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