机构：信用债短期内发生调整的可能性较低，信用债ETF博时(159396)盘中飘红，成交额超10亿元

Core Viewpoint - The credit bond ETF from Bosera has shown strong performance with significant inflows and trading volume, indicating a favorable market environment for credit bonds [3][4] Group 1: Performance Metrics - As of June 24, 2025, the Bosera credit bond ETF has increased by 0.03%, marking its 11th consecutive rise, with the latest price at 101.16 yuan [3] - The ETF has achieved a record high in scale, reaching 11.398 billion yuan, ranking 2nd among comparable funds [3] - The ETF's share count has reached 11.3 million, also a 3-month high, ranking 2nd among comparable funds [3] Group 2: Trading Activity - The ETF has seen a trading turnover of 9.28% during the day, with total transactions amounting to 1.059 billion yuan [3] - Over the past week, the ETF has averaged daily transactions of 5.633 billion yuan, leading among comparable funds [3] - The ETF has experienced continuous net inflows over the past 17 days, with a peak single-day inflow of 737 million yuan, totaling 3.793 billion yuan in net inflows [3] Group 3: Risk and Return Analysis - Since its inception, the ETF has recorded a maximum drawdown of 0.89%, with a recovery period of 26 days [4] - The ETF has a Sharpe ratio of 1.40 for the past month, ranking in the top 50% among comparable funds, indicating higher returns for the same level of risk [4] - The management fee is 0.15% and the custody fee is 0.05%, the lowest among comparable funds [4] Group 4: Investment Strategy - The ETF closely tracks the Shenzhen benchmark market-making credit bond index, reflecting the operational characteristics of the credit bond market in Shenzhen [4] - The company suggests focusing on medium to long-term credit bonds with maturities of 3-5 years while advising to control positions to mitigate interest rate fluctuations [3]