• Knowledge Management Research
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• v.22 no.3
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• pp.17-29
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• 2021

The purpose of this study is to analyze investment performance by applying dynamic methodologies that reflect market expectations rather than traditional static methodologies in applying the glide path of target date fund. In calculating market expectations, the number of distributed shares in the ETF market was used, and the dynamic glide path model portfolio considering market expectations in the analysis period from late 2011 to October 2020 could show better results than the existing static glide path. According to the analysis, increasing the portion of risky assets at a time when the number of shares in the ETF's distribution increases, and in the opposite case, reducing the portion of risky assets is advantageous for profit. The results of this study are expected to provide useful theoretical and practical implications for researchers and asset management workers who are interested in knowledge management from a broad perspective beyond the boundary of pension asset management to the public fund market and ETF market.