机构：把握沪深基准做市信用债ETF扩容机遇，信用债ETF博时(159396)成交额超47亿元，交投活跃

Core Viewpoint - The credit bond ETF from Bosera is experiencing a tight market with active trading and significant liquidity, presenting investment opportunities in the medium to long-term credit bond market as the ETF expands [3][4]. Group 1: Market Performance - As of June 9, 2025, the Bosera credit bond ETF is priced at 100.8 yuan, with a turnover rate of 59.89% and a trading volume of 4.782 billion yuan, indicating active market participation [3]. - The ETF has achieved a record high in size at 8.681 billion yuan and a recent high in shares at 86.1831 million, ranking in the top quarter among comparable funds [4]. - Over the past six days, the ETF has seen continuous net inflows, totaling 1.105 billion yuan, with a peak single-day inflow of 702 million yuan [4]. Group 2: Investment Strategy - West Securities suggests that the expansion of the Shanghai and Shenzhen benchmark market-making credit bond ETF creates investment opportunities, particularly in the medium to long-term credit bond segment [3]. - The ETF's expansion may lead to valuation volatility risks, especially during market downturns, which could increase yield fluctuations [3]. - The recommendation is to focus on coupon opportunities and consider increasing allocations to medium to long-term credit bonds after seasonal disturbances subside [3]. Group 3: Performance Metrics - Since its inception, the Bosera credit bond ETF has recorded a maximum drawdown of 0.89%, with a recovery period of 26 days [5]. - The ETF has a management fee of 0.15% and a custody fee of 0.05%, which are among the lowest in its category [5]. - As of June 6, 2025, the ETF has the highest tracking accuracy among comparable funds, with a tracking error of 0.009% [5].