最新规模创成立以来新高！信用债ETF博时(159396)连续4天净流入，内地债市未来数年有巨大增长机会

Core Viewpoint - The credit bond ETF from Bosera has shown strong performance and liquidity, with significant inflows and a positive outlook for the credit bond market in China [3][4]. Group 1: Performance Metrics - As of July 7, 2025, the Bosera credit bond ETF has accumulated a weekly increase of 0.26%, ranking in the top 25% among comparable funds [3]. - The ETF's latest scale reached 12.742 billion yuan, marking a new high since its inception and ranking second among comparable funds [3]. - The ETF has achieved a monthly profitability percentage of 80.00% since its inception, with a historical holding period of 3 months showing a 100.00% profitability probability [4]. Group 2: Liquidity and Trading Activity - The ETF recorded a turnover rate of 74.67% during trading, with a total transaction volume of 9.562 billion yuan, indicating active market participation [3]. - Over the past week, the ETF averaged daily transactions of 5.386 billion yuan, ranking first among comparable funds [3]. - The ETF has seen continuous net inflows over the past four days, totaling 430 million yuan, with a peak single-day inflow of 185 million yuan [4]. Group 3: Risk and Return Analysis - The ETF's maximum drawdown since inception is 0.89%, with a relative benchmark drawdown of 0.10%, indicating a relatively stable performance [4]. - The Sharpe ratio for the past month is 1.63, placing it in the top 50% among comparable funds, suggesting higher returns for the same level of risk [4]. - The ETF has a management fee of 0.15% and a custody fee of 0.05%, which are the lowest among comparable funds [4]. Group 4: Market Context - The CEO of the Hong Kong Stock Exchange highlighted the growing demand for connectivity between global and domestic markets, with the Bond Connect program being a preferred channel for international investors in China's interbank bond market [3]. - Guohai Securities maintains an optimistic outlook for the credit bond market, suggesting strategies to explore short-term yields and focus on high-valuation, liquid targets in the 3-5 year range [3].