市场情绪回暖，同类规模最大的自由现金流ETF（159201）震荡上行，规模同类第一

Core Viewpoint - Market sentiment improved on June 24, with over 4,600 stocks rising, particularly in the insurance, gaming, and automotive parts sectors [1] Group 1: Market Performance - The National Free Cash Flow Index experienced fluctuations but ultimately rose by over 1%, with leading stocks including Longi Machinery, Aishide, and Taiji Industry [1] - The largest free cash flow ETF (159201) followed the index's upward trend, with trading volume exceeding 180 million yuan, indicating active trading and frequent premium transactions [1] Group 2: Investment Recommendations - Galaxy Securities suggests that investors should manage their positions cautiously due to risk-averse sentiment. It is recommended to focus on stocks that have shown higher performance growth in the past two years during June to July [1] - There are indications of funds positioning themselves in advance, suggesting a short-term focus on sectors showing unusual activity or those with expected year-on-year performance improvements based on high-frequency data [1] Group 3: ETF Overview - The Free Cash Flow ETF (159201) closely tracks the National Free Cash Flow Index, covering two main categories: undervalued cyclical assets like oil and non-ferrous metals, and high-quality assets primarily in home appliances and automotive sectors [1] - The index prioritizes companies with robust fundamentals, stable business models, and favorable competitive landscapes [1] - The management and custody fees for the Free Cash Flow ETF are at the lowest market rates [1]