平安基金旗下国债ETF5至10年降费！低成本的长久期债券ETF更具吸引力

Core Viewpoint - The bond ETF market is experiencing significant growth, surpassing 400 billion yuan, driven by the need for efficient bond asset allocation in a low-interest-rate environment [1] Group 1: Product Features - The Ping An 5-10 Year Government Bond Active ETF (code: 511020) has reduced its management fee from 0.25% to 0.15% to better meet investor needs [1] - This ETF tracks the "CSI 5-10 Year Government Bond Active Index," focusing on liquid government bonds with a maturity of 5-10 years, positioning itself as a tool for medium to long-term trading [1] - The product allows for pledging, with a pledge rate of 0.95 of net value, catering to various investor needs and enhancing returns through pledging [1] Group 2: Liquidity and Performance - The underlying bonds of the ETF are highly liquid, with the index regularly selecting actively traded government bonds [2] - The ETF operates on a T+0 trading mechanism, allowing investors to sell their shares on the same day, thus enhancing liquidity management [2] - The average daily trading volume since 2025 is approximately 400 million yuan, with 2024's average exceeding 350 million yuan [2] - The ETF has shown strong performance, with a 2024 yield of 8.61%, outperforming the average yields of long-term pure bond funds (4.74%) and bond ETFs (7.04%) [2] Group 3: Transparency and Cost - Investors can access daily announcements to view the product's subscription and redemption list, ensuring transparency in holdings [2] - The ETF charges low management and custody fees, contributing to reduced holding costs for investors [2] Group 4: Market Outlook - The company anticipates continued equity market performance influenced by recent U.S.-China relations, real estate stimulus policies, and stock market trends, while the bond market may experience fluctuations [3] - Investors are encouraged to focus on switching between new and old active bonds with maturities of 5, 7, and 10 years, awaiting policy direction from the upcoming Politburo meeting at the end of July [3]