AI Infrastructure ETFs: What You Should Buy Now Is Something Else. Comparison of 8 Domestically Listed ETFs (2026)

Among power, cooling, data centers, and SMR, we selected only the AI infrastructure layers that will survive even after the bubble.

In the previous post, we separated AI infrastructure into four layers—power supply, cooling, data center REITs, and SMR—and analyzed which ones would withstand a bubble shock. This time, we provide the answer to the question, "So, how should I invest?" To start with the conclusion, all four layers can be covered by domestically listed ETFs. We have carefully selected the top two products from each layer, totaling eight items, and have summarized everything from investment logic to account utilization strategies.

1Why You Don't Need to Buy Overseas ETFs Directly — Start with this

The reason we focus exclusively on domestically listed ETFs is not simply because "the domestic market is better." It is because four factors—taxes, account structure, exchange rates, and trading hours—are structurally more advantageous than direct investment in overseas ETFs.

2 4 Layers × 2 ETFs — Full Map

The table below summarizes the eight ETFs covered in this article by layer at a glance. Since the investment characteristics of each layer differ, the key is to allocate portfolio weights differentially according to the characteristics of each layer.

3L1 — Power Supply: Long-term PPA Contracts Prevent Bubbles

The core logic of the power supply layer is that long-term PPAs lock in cash flows . Long-term contracts entered into directly by Big Tech companies with power companies, such as the Vistra–Meta 20-year 2,609MW deal and the Constellation–CyrusOne 380MW deal, protect the power companies' profits even if the AI financing bubble bursts. Among the four layers, it is the most defensive against bubble shocks.

KODEX (487230) focuses on 10 U.S. power companies that are direct beneficiaries of PPA contracts. TIGER (491010) has broader coverage with an active structure where the Mirae Asset Research Team selects stocks. If you need flexible short-term response, choose TIGER; if you want the predictability of index tracking, choose KODEX.

4L2 — Cooling & Power Management: 30 Trillion Won Order Backlog as a Shield

The core logic of the cooling and power management layer is that existing order backlogs protect earnings from bubble shocks . The combined order backlog for North American data center transformers from the three companies—LS Electric, HD Hyundai Electric, and Hyosung Heavy Industries—is reportedly over 30 trillion won. Even if the bubble bursts and new orders halt, already contracted volumes are recognized as earnings until delivery. The supplier advantage of having delivery times more than six months faster than other countries is an additional competitive edge for this layer.

Since the top holdings of the two ETFs are virtually identical, holding both does not constitute true diversification. Choosing one is sufficient. The selection criteria are KODEX (487240) if stability is the priority, and TIGER (0117V0) if return is the priority.

5L3 — Data Center REITs: The layer that receives the bubble shock last

The data center REIT layer is the last of the four layers to be impacted by the financing bubble, and the least so . Data center REITs such as Equinix (EQIX) and Digital Realty (DLR) operate physical server infrastructure through long-term lease agreements with tenants. Even if the AI investment bubble bursts, servers already in operation cannot be vacated immediately. Market share exceeding 95% and the entry into an interest rate cut cycle constitute the current favorable environment for this layer.

RISE (375270) is a product that focuses purely on data center REITs, while TIGER REITs Real Estate Infrastructure is a product for investors seeking monthly dividends while diversifying across domestic and international REITs. From the perspective of the AI infrastructure layer, RISE (375270) is a more direct choice. However, it should be noted that trading liquidity is relatively low due to its net assets of 10.2 billion KRW. For large-scale fund management, TIGER REITs Real Estate Infrastructure is a realistic alternative.

6L4 — SMR: A long-term, small-scale bet targeting commercialization in 2028–2030

The SMR layer is a layer where we are planting seeds now, looking ahead to the post-commercialization period of 2028–2030 rather than current performance . While SMR contracts for data center power independence are materializing, such as the Terrestrial Energy–Riot platform MoU (May 2026), actual power production will take time. This layer is suitable for a long-term satellite position, managed at less than 5% of the portfolio.

TIGER Korea Nuclear Power is recording overwhelming performance, ranking first (+138%) in overall ETF returns for 2026. However, given that significant expectations are already reflected in the price, a dollar-cost averaging approach is recommended for new entries. Since both ETFs share the same directional focus on nuclear power and SMRs, selecting just one within this category is sufficient.

7Which Account to Buy From — Tax-Saving Order and Account Utilization by Layer

All eight ETFs can be traded in ISA, pension savings, and IRP accounts. Which account you buy them from determines your actual after-tax return just as much as which ETF you choose.

8Frequently Asked Questions

Conclusion — Understanding the layers makes selecting ETFs easier

The key to investing in AI infrastructure is to first decide which layer to bet on, and then select an ETF . If the order is reversed, confusion arises among ETFs that look similar.

L1 represents defense, L2 represents growth, L3 represents stability and dividends, and L4 represents long-term options. Since these four play distinct roles, they can work together in a portfolio. On the other hand, because two ETFs within the same layer tend to move in similar directions, selecting one per layer is sufficient.

Furthermore, regardless of which layer you choose, maintaining the account order (ISA → Pension Savings → IRP) has a greater impact on long-term returns than selecting ETFs. Even if you choose good assets, ignoring the tax structure will result in a different amount of money actually being received.

Date: 2026.05.13 · Davar · Global Market Analysis & Investment Strategy 🌍
⚠ This article is for informational purposes only and is not an investment recommendation; investment decisions and responsibilities lie solely with the individual.
References: Samsung Asset Management KODEX Official Website · Mirae Asset Management TIGER ETF · KB Asset Management RISE ETF · Shinhan Asset Management SOL ETF · ETF return and price data as of May 2026 (disclosures by each asset management company)