ETF投资月报丨4月行情探底回升，黄金ETF成“避风港”，光伏ETF则回调

Market Overview - The A-share market experienced a decline in April, with the Shanghai Composite Index dropping over 7% on April 7, reaching a low of around 3040 points. However, it rebounded strongly due to robust fundamentals and supportive policies, closing at 3279.03 points, resulting in a monthly decline of only 1.7% [1]. ETF Performance - Approximately 1100 ETF products in the market showed overall poor performance in April, with a median return of -3%, and less than 200 products achieving positive returns [2]. - Gold-related ETFs, including Gold ETF and Shanghai Gold ETF, saw monthly gains exceeding 6%, driven by continuously rising international gold prices, which reached a peak of over $3500 per ounce before adjusting to around $3327 per ounce by the end of April, marking a cumulative increase of over 5% for the month [5][7]. Top Performers - The top-performing ETFs in April were primarily gold-related, with over 10 products achieving monthly gains of more than 6% [5]. - Other notable performers included the German ETF, which rose by 6.18%, and the Nikkei 225 ETF and Southeast Asia Technology ETF, both gaining over 4% [7]. Underperformers - The solar energy sector faced significant declines, with solar-related ETFs experiencing widespread pullbacks, many dropping over 10% [8][13]. - The New Economy ETF recorded the largest drop, with a monthly decline of 25%, following a 27% increase in March. Other ETFs, including those tracking oil and gas, also saw declines exceeding 12% [10][13]. - The solar sector's poor performance is attributed to a lack of recovery after a significant drop on April 7, with key stocks like Longi Green Energy and Tongwei Co. continuing to struggle [15].