Woofun AI data shows that Southern’s two-fold long Hynix ETF has declined to 0.7978, representing a loss exceeding 20%, despite the underlying SK Hynix stock remaining at 1.65 million won. This discrepancy illustrates volatility decay, where daily rebalancing required for leveraged returns amplifies losses during price fluctuations. The ETF’s value has retreated to levels seen on April 30, when Hynix traded at 1.3 million won, even though the current stock price is significantly higher. South Korean regulators have emphasized the necessity of de-leveraging in this context.