黄金ETF基金(159937)盘中飘红，成交1.39亿元，机构：黄金维持标配或适度超配状态仍可能为最优选择

Core Viewpoint - The demand for gold as a safe-haven asset is being driven by geopolitical risks, leading to significant contributions to multi-asset strategy returns in 2023 [2] Group 1: Gold ETF Performance - As of June 25, the Gold ETF fund has seen a net value increase of 88.93% over the past five years, ranking it among the top two comparable funds [3] - The fund's highest single-month return since inception was 10.62%, with the longest consecutive monthly gains lasting six months and a maximum increase of 16.53% [3] - The fund has a historical three-year holding profitability rate of 100% and an average monthly return of 3.27% during up months [3] Group 2: Risk and Return Metrics - The Gold ETF fund has a Sharpe ratio of 2.59 over the past year, indicating strong risk-adjusted returns [3] - Year-to-date, the fund has experienced a relative drawdown of 0.38% compared to its benchmark [3] - The management fee for the Gold ETF fund is 0.50%, and the custody fee is 0.10% [3] Group 3: Market Activity - Leveraged funds are increasingly positioning themselves in the gold market, with the latest financing buy-in amounting to 18.17 million yuan and a financing balance of 3.686 billion yuan [2]