{"id":3039,"date":"2026-01-24T10:08:02","date_gmt":"2026-01-24T09:08:02","guid":{"rendered":"https:\/\/mueckinvest.de\/?page_id=3039"},"modified":"2026-02-26T06:00:00","modified_gmt":"2026-02-26T05:00:00","slug":"ihracci-riski-2","status":"publish","type":"page","link":"https:\/\/mueckinvest.com\/tr\/emittentenrisiko\/","title":{"rendered":"\u0130hra\u00e7\u00e7\u0131 riski"},"content":{"rendered":"<h2 class=\"wp-block-heading\">\ud83e\udde9 <strong>\u0130hra\u00e7\u00e7\u0131 riski ne anlama gelir?<\/strong><\/h2>\n\n\n\n<p>\u0130hra\u00e7\u00e7\u0131 riski, bir finansal \u00fcr\u00fcn\u00fcn ihra\u00e7\u00e7\u0131s\u0131n\u0131n (ihra\u00e7\u00e7\u0131) \u00f6deme y\u00fck\u00fcml\u00fcl\u00fcklerini art\u0131k yerine getirememesi tehlikesini tan\u0131mlar; \u00f6rne\u011fin, iflas veya mali zorluklar nedeniyle. Sertifikalar s\u00f6z konusu oldu\u011funda bu \u015fu anlama gelir: \ud83d\udc49 <strong>Yat\u0131r\u0131mc\u0131, ihra\u00e7\u00e7\u0131n\u0131n alacakl\u0131s\u0131d\u0131r.<\/strong> E\u011fer ihra\u00e7\u00e7\u0131 \u00f6deme yapamazsa, k\u0131smi kay\u0131plar veya tam temerr\u00fct s\u00f6z konusu olabilir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\ud83c\udfe6 <strong>\u0130hra\u00e7\u00e7\u0131 riski nerede ortaya \u00e7\u0131kar ve nerede ortaya \u00e7\u0131kmaz?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u0130lgili yat\u0131r\u0131m se\u00e7enekleri (ihra\u00e7\u00e7\u0131 riskiyle birlikte):<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Sertifikalar (\u00f6rne\u011fin Wikifolio sertifikalar\u0131)<\/li>\n\n\n\n<li>Yap\u0131land\u0131r\u0131lm\u0131\u015f \u00dcr\u00fcnler<\/li>\n\n\n\n<li>Kurumsal tahviller<\/li>\n\n\n\n<li>Devlet tahvilleri (devletin kredi riski)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Klasik anlamda hi\u00e7bir ihra\u00e7\u00e7\u0131 riski yok:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ETF&#039;ler \u2192 <strong>\u00d6zel varl\u0131klar<\/strong><\/li>\n\n\n\n<li>Kamu fonlar\u0131 \u2192 <strong>\u00d6zel varl\u0131klar<\/strong><\/li>\n\n\n\n<li>Do\u011frudan sahip olunan hisseler \u2192 \u015firket riski, ancak arac\u0131 kurulu\u015f arac\u0131l\u0131\u011f\u0131yla sahip olunan hisseler \u00fczerinden ihra\u00e7\u00e7\u0131 riski yok.<\/li>\n<\/ul>\n\n\n\n<p>\ud83d\udc49 Wikifolio sertifikalar\u0131 a\u00e7\u0131k\u00e7a ilk kategoriye giriyor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\ud83d\udee1\ufe0f <strong>Wikifolio sertifikalar\u0131 i\u00e7in ihra\u00e7\u00e7\u0131 riski (Lang &amp; Schwarz)<\/strong><\/h2>\n\n\n\n<p>Wikifolio sertifikalar\u0131 \u015funlar taraf\u0131ndan verilir: <strong>Lang &amp; Schwarz (L&amp;S)<\/strong> sal\u0131n\u0131rlar. Yasal olarak, bunlar <strong>Tahviller<\/strong> \u2013 bir fon de\u011fil, \u00f6zel bir varl\u0131k da de\u011fil.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u00d6zel \u00f6zellik: Teminat \u00e7\u00f6z\u00fcm\u00fc<\/strong><\/h3>\n\n\n\n<p>Wikifolio \u015funu kullan\u0131yor: <a href=\"https:\/\/help.wikifolio.com\/article\/86-wie-sicher-sind-investitionen-in-wikifolio-zertifikate\" title=\"\">G\u00fcvenlik yap\u0131s\u0131<\/a>, Bu da riski art\u0131r\u0131r. <strong>azalt\u0131lm\u0131\u015f<\/strong>, Ancak tamamen ortadan kalkmad\u0131:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>L&amp;S teminat (riskten korunma pozisyonlar\u0131) sa\u011flar.<\/li>\n\n\n\n<li>Bunlar <strong>ayr\u0131 olarak saklan\u0131yor<\/strong><\/li>\n\n\n\n<li>A <strong>m\u00fctevelli heyeti<\/strong> g\u00fcvenli\u011fi izler<\/li>\n\n\n\n<li>Bir hak talebi durumunda, varl\u0131klar yat\u0131r\u0131mc\u0131lar\u0131n menfaatine olacak \u015fekilde tasfiye edilecektir.<\/li>\n<\/ul>\n\n\n\n<p>\ud83d\udc49 Bu, riski azalt\u0131r ancak \u00f6zel fonlar\u0131n yerini tutmaz.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u26a0\ufe0f <strong>Acil bir durumda ne olur?<\/strong><\/h2>\n\n\n\n<p>Bor\u00e7 veren kurulu\u015fun temerr\u00fcde d\u00fc\u015fmesi durumunda a\u015fa\u011f\u0131daki senaryolar ortaya \u00e7\u0131kabilir:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gecikmi\u015f geri \u00f6deme<\/strong><\/li>\n\n\n\n<li><strong>K\u0131smi geri \u00f6deme<\/strong> (\u00d6rne\u011fin, 100 % yerine 90\u201395 %)<\/li>\n\n\n\n<li><strong>Tamamen ba\u015far\u0131s\u0131z<\/strong>, teminat yetersizse<\/li>\n<\/ul>\n\n\n\n<p>Wikifolio sertifikalar\u0131 i\u00e7in izlenecek prosed\u00fcr:<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li>Vasi, teminat\u0131n de\u011ferini anlar.<\/li>\n\n\n\n<li>Elde edilen gelirler sertifika sahiplerine \u00f6denir.<\/li>\n\n\n\n<li>A\u00e7\u0131klar iflas davalar\u0131na d\u00f6n\u00fc\u015f\u00fcyor.<\/li>\n\n\n\n<li>Bunlar yaln\u0131zca k\u0131smen servis edilebilir.<\/li>\n<\/ol>\n\n\n\n<p>\ud83d\udc49 Risk azalm\u0131\u015ft\u0131r, ancak tamamen ortadan kalkmam\u0131\u015ft\u0131r.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\ud83d\udcca <strong>\u0130hra\u00e7\u00e7\u0131 riski nas\u0131l de\u011ferlendirilebilir?<\/strong><\/h2>\n\n\n\n<p>\u00d6nemli fakt\u00f6rler:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u0130hra\u00e7\u00e7\u0131n\u0131n kredi notu<\/strong><\/li>\n\n\n\n<li><strong>G\u00fcvenlik yap\u0131s\u0131n\u0131n \u015feffafl\u0131\u011f\u0131<\/strong><\/li>\n\n\n\n<li><strong>D\u00fczenleyici ortam<\/strong><\/li>\n\n\n\n<li><strong>Piyasa ortam\u0131 ve likidite<\/strong><\/li>\n\n\n\n<li><strong>konsantrasyon<\/strong>Bir kredi kurulu\u015funa ne kadar ba\u011f\u0131ml\u0131y\u0131m?<\/li>\n<\/ul>\n\n\n\n<p>\ud83d\udc49 \u0130hra\u00e7\u00e7\u0131 riski nihayetinde bir <strong>Kredi riski<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\ud83d\udd27 <strong>\u0130hra\u00e7\u00e7\u0131 riski nas\u0131l azalt\u0131labilir?<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u0130hra\u00e7\u00e7\u0131 kurulu\u015flar aras\u0131nda \u00e7e\u015fitlendirme<\/strong><\/li>\n\n\n\n<li><strong>Sertifika kotas\u0131n\u0131n s\u0131n\u0131rland\u0131r\u0131lmas\u0131<\/strong> genel portf\u00f6yde<\/li>\n\n\n\n<li><strong>\u015eeffaf yap\u0131lara y\u00f6nelik tercih<\/strong><\/li>\n\n\n\n<li><strong>D\u00fczenli inceleme<\/strong> ihra\u00e7\u00e7\u0131 ortam\u0131<\/li>\n\n\n\n<li><strong>Bireysel sertifikalar\u0131n a\u015f\u0131r\u0131 a\u011f\u0131rl\u0131kland\u0131r\u0131lmamas\u0131<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Mueckinvest i\u00e7in \u015fu mesaj\u0131 net bir \u015fekilde iletebilirsiniz: \ud83d\udc49 Strateji riski aktif olarak y\u00f6netiliyor \u2013 ihra\u00e7\u00e7\u0131 riski sistemik nedenlerden dolay\u0131 devam ediyor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\ud83e\udde0 <strong>\u0130hra\u00e7\u00e7\u0131 riski, Wikifolio&#039;nun genel analizine nas\u0131l dahil ediliyor?<\/strong><\/h2>\n\n\n\n<p>Bir yat\u0131r\u0131mc\u0131 Wikifolio sertifikalar\u0131na katk\u0131da bulunuyor. <strong>iki risk boyutu<\/strong>:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1\ufe0f\u20e3 <strong>Strateji riski<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Piyasa hareketleri<\/li>\n\n\n\n<li>Volatilite<\/li>\n\n\n\n<li>Yanl\u0131\u015f de\u011ferlendirmeler<\/li>\n\n\n\n<li>Zamanlama riskleri<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2\ufe0f\u20e3 <strong>\u0130hra\u00e7\u00e7\u0131 riski<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Lang &amp; Schwarz&#039;\u0131n temerr\u00fct riski<\/li>\n\n\n\n<li>Teminata ba\u011f\u0131ml\u0131l\u0131k<\/li>\n\n\n\n<li>iflas riski<\/li>\n<\/ul>\n\n\n\n<p>\ud83d\udc49 Her iki risk de etkilidir <strong>yan yana<\/strong> ve birlikte de\u011ferlendirilmelidir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\ud83d\udcd8 <strong>Yat\u0131r\u0131mc\u0131lar i\u00e7in k\u0131sa \u00f6zet<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Wikifolio sertifikalar\u0131 \u015funlard\u0131r: <strong>\u015feffaf<\/strong>, Ancak <strong>\u00f6zel varl\u0131k olarak korunmayan<\/strong><\/li>\n\n\n\n<li>Teminat riski azalt\u0131r, ancak ortadan kald\u0131rmaz.<\/li>\n\n\n\n<li>Yat\u0131r\u0131mc\u0131lar ihra\u00e7\u00e7\u0131 riskinin fark\u0131nda olmal\u0131d\u0131r. <strong>bilin\u00e7li olarak planlay\u0131n<\/strong><\/li>\n\n\n\n<li>Uzun vadeli stratejiler i\u00e7in bu bir <strong>genel de\u011ferlendirmenin \u00f6nemli bir bile\u015feni<\/strong><\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83d\udd0e <strong>Daha fazla de\u011ferlendirme ve piyasa yorumu<\/strong><\/h3>\n\n\n\n<p>Piyasa a\u015famalar\u0131, riskler, stratejiler ve g\u00fcncel de\u011ferlendirmeler <a href=\"https:\/\/mueckinvest.com\/tr\/yeniden-dengeleme-2\/\" title=\"Yeniden dengeleme\">Yeniden dengeleme<\/a>Kararlar her zaman haberler b\u00f6l\u00fcm\u00fcnde bulunabilir. Orada d\u00fczenli olarak, ihra\u00e7\u00e7\u0131 riskini de etkileyebilecek geli\u015fmeleri analiz ediyorum.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/mueckinvest.com\/tr\/wikifolio-sertifikalarinda-ihracci-riski\/\">\ud83d\udc49 De\u011ferlendirmelere<\/a><\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>\ud83e\udde9 Was bedeutet Emittentenrisiko? Das Emittentenrisiko beschreibt die Gefahr, dass der Herausgeber eines Finanzprodukts (der Emittent) seine Zahlungsverpflichtungen nicht mehr erf\u00fcllen kann \u2013 etwa durch Insolvenz oder finanzielle Schieflage. Bei Zertifikaten bedeutet das: \ud83d\udc49 Der Anleger ist Gl\u00e4ubiger des Emittenten. Kann der Emittent nicht zahlen, drohen Teilverluste oder ein Totalausfall. \ud83c\udfe6 Wo tritt Emittentenrisiko auf [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"pmpro_default_level":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-3039","page","type-page","status-publish","hentry","pmpro-has-access"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/mueckinvest.com\/tr\/wp-json\/wp\/v2\/pages\/3039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mueckinvest.com\/tr\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mueckinvest.com\/tr\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mueckinvest.com\/tr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mueckinvest.com\/tr\/wp-json\/wp\/v2\/comments?post=3039"}],"version-history":[{"count":5,"href":"https:\/\/mueckinvest.com\/tr\/wp-json\/wp\/v2\/pages\/3039\/revisions"}],"predecessor-version":[{"id":3889,"href":"https:\/\/mueckinvest.com\/tr\/wp-json\/wp\/v2\/pages\/3039\/revisions\/3889"}],"wp:attachment":[{"href":"https:\/\/mueckinvest.com\/tr\/wp-json\/wp\/v2\/media?parent=3039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}