2025上半年ETF收益榜揭晓：医药黄金主题包揽前20

Core Insights - The global capital markets in the first half of 2025 present significant structural opportunities, with exchange-traded funds (ETFs) becoming the core tool for capital allocation due to their efficiency [1][5] - The pharmaceutical and gold-themed ETFs dominated the performance rankings, with the Huatai-PineBridge Hong Kong Innovation Drug ETF (159570) leading with a return of 58.77% [1][2] ETF Performance - All top 20 ETFs in terms of returns for the first half of 2025 were from the pharmaceutical and gold themes, with a minimum return threshold of 38% [1][2] - The top three performing ETFs were all pharmaceutical-themed: - Huatai-PineBridge Hong Kong Innovation Drug ETF (159570) at 58.77% - Silver华港股创新药ETF (159567) at 58.01% - 万家港股创新药ETF (520700) at 57.13% [2] - The gold-themed ETFs ranked 18th to 20th, with returns of 38.66%, 38.57%, and 38.26% respectively, benefiting from rising gold prices and increased risk aversion [1][2] Market Trends - The strong performance of innovation drug ETFs is attributed to breakthroughs in global biopharmaceutical technology and a favorable policy environment [1][3] - The trading volume for domestic innovative drug overseas licensing reached $40.4 billion in 2024, a 54% year-on-year increase, indicating a shift towards "global innovation" in the industry [1][3] ETF Classification - Despite the overall high performance of innovation drug ETFs, there was significant internal differentiation, with the top 17 pharmaceutical ETFs underperforming their benchmarks by an average of about 3 percentage points [3] - The gold ETFs' value is supported by multiple factors, including an 18.2% increase in COMEX gold prices and a record high of 1,136 tons in gold purchases by global central banks in 2024 [3][4] New Fund Performance - Among the top 10 ETFs that exceeded benchmark returns, half were newly established products in 2025, showcasing their ability to quickly capture market opportunities [3][4] - The 永赢港股医疗ETF (159366) achieved a 17.26% excess return, reflecting its timely entry into the market [4] Market Overview - As of mid-2025, the total scale of domestic ETFs surpassed 4.3 trillion yuan, indicating the growing strategic importance of passive investment tools in asset allocation [5]