信用债ETF博时(159396)震荡上涨，近2周规模、份额增长显著，机构研判信用债需求仍有一定支撑

Core Viewpoint - The credit bond ETF from Bosera has shown a slight increase in value and significant growth in scale and shares, indicating strong demand and positive supply-demand dynamics in the credit bond market [3][4]. Group 1: Performance Metrics - As of July 15, 2025, the Bosera credit bond ETF has increased by 0.12% this month, with a current price of 101.24 yuan [3]. - The ETF has experienced a significant increase in scale, growing by 6.02 billion yuan over the past two weeks, ranking second among comparable funds [3]. - The ETF's share count has increased by 583.40 million shares in the last two weeks, also ranking second among comparable funds [4]. Group 2: Liquidity and Trading Activity - The ETF recorded a turnover rate of 1.12% with a trading volume of 1.44 billion yuan on the latest trading day [3]. - Over the past month, the average daily trading volume has been 52.26 billion yuan, ranking first among comparable funds [3]. - In the last ten trading days, there have been net inflows on six days, totaling 613 million yuan, with an average daily net inflow of 61.33 million yuan [4]. Group 3: Risk and Return Analysis - The ETF has a historical monthly profit probability of 75.49% and a 100% probability of profit over a three-month holding period [4]. - The maximum drawdown since inception is 0.89%, with a recovery time of 26 days [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 People's Bank of China announced a 14 billion yuan reverse repurchase operation to maintain liquidity in the banking system, which may support the credit bond market [3]. - The demand for credit bonds remains strong, supported by the growth of wealth management products and the increasing popularity of credit bond ETFs [3].