当均衡宽基遇上进攻小盘，这个组合赢麻了！

Group 1 - The core viewpoint is that micro-cap stocks have shown strong performance since the beginning of 2025, outperforming broader indices due to their low price-to-book (PB) ratios and small market capitalization, indicating high elasticity [1][3] - The current high crowding in micro-cap stocks and their PB being higher than the overall A-share market presents significant risks, suggesting a balanced approach with broad-based assets to mitigate risks while capturing rebound opportunities through small-cap strategies [3][4] - The CSI A500 Index ETF (SH560610) and the 1000 ETF Enhanced (SZ159680) align well with the strategy of balancing risk and enhancing returns, as the CSI A500 offers a more representative industry weight distribution compared to traditional indices like the CSI 300 [3][4] Group 2 - The CSI A500 serves as a stable foundation, while the CSI 1000 Enhanced strategy acts as an offensive tool, capitalizing on the current favorable environment for small-cap stocks driven by liquidity and supportive policies [4][5] - The 1000 ETF Enhanced has delivered an excess return of over 4% relative to the CSI 1000 since the beginning of the year, with a historical excess return of 28%, making it suitable for aggressive positioning [5] - With the implementation of merger and acquisition policies and sustained liquidity, the micro-cap market is expected to remain volatile at high levels, while broad-based assets provide a long-term anchor for investment portfolios [7]