银行大跌，是机会吗？

Core Viewpoint - The banking sector is experiencing a significant inflow of funds, particularly into the Bank AH Preferred ETF (517900), indicating a strong long-term value reassessment despite short-term volatility [2][4][6]. Fund Inflows and Performance - The Bank AH Preferred ETF has seen continuous net inflows for 18 days, accumulating nearly 400 million in 20 trading days [4]. - The ETF's scale has increased by over 550% this year, reaching a historical high and ranking first among banking ETFs [4]. Investment Trends and Strategies - The phenomenon of "buying the dip" reflects a broader trend in the banking sector, where short-term fluctuations do not undermine the long-term value [6][7]. - Institutional investors, such as insurance funds and social security, are increasingly favoring the banking sector due to its high dividend yields and stable fundamentals, with the Bank AH Index yielding 6.51% as of May [6]. Market Dynamics and Risk Factors - The current geopolitical uncertainties, including tensions in the Middle East and Russia-Ukraine, may drive investors towards banking stocks as a safe haven [6]. - The Bank AH Preferred ETF employs a rotation strategy to dynamically allocate to banks with lower valuations, enhancing potential excess returns [7]. Comparative Performance - Year-to-date, the Bank AH Index has outperformed the CSI Bank Index, with a gain of 18.70% compared to 12.61% for the latter, validating the effectiveness of the investment strategy [8].