This exchange-traded fund (ETF) is designed to track the performance of the Korea Floating Rate Bond Index (KOFR), providing investors with exposure to the South Korean short-term floating rate bond market. The fund achieves this by synthetically replicating the index, using a strategy involving swap agreements and other derivative instruments. Unlike directly owning the underlying bonds, this synthetic approach allows the ETF to closely mirror the index's movements while managing operational costs and accessing the market efficiently. The KOFR index, the ETF's benchmark, reflects the daily average rate of overnight call transactions among financial institutions in Korea, making it a key indicator of short-term interest rates in the country. As a result, this ETF's price and returns are heavily influenced by these short-term interest rate fluctuations. Because it holds short-term debt obligations, the ETF is generally considered a lower volatility investment, and acts as a tool for investors who wish to capitalize on changes to Korea’s base interest rate. Its role is also strategic: it can be used to preserve capital, adjust a portfolio’s duration, or to act as an alternative to cash holdings, especially when short-term rates are rising. Given its structure, the ETF offers a relatively low credit risk exposure (tied to swap counterparties) and liquidity for trading within the stock market, while giving investors a simple way to participate in the short-term Korean money market. The overall objective is to deliver returns that are highly correlated with the benchmark KOFR index, after deducting the fund's management fees and operational costs, allowing an efficient and cost-effective way for investors to access the Korean interest rate market.