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股票ETF赎回加大，创年内次新高，卖宽基ETF买行业ETF新势头起
Feng Huang Wang·2025-08-05 02:29

Group 1 - The overall scale of ETFs is growing, but domestic stock ETFs are experiencing significant redemptions, with the total fund share falling to 1.96 trillion shares by the end of July [1][4] - As of the end of July, the total scale of stock ETFs reached 3.1 trillion yuan, an increase of over 70.3 billion yuan compared to the previous month [1][2] - The trend of increased net redemptions in stock ETFs has been notable, with July marking the second-highest net redemption of the year, following February [4][5] Group 2 - The broad-based ETFs, which account for the largest share, are key to the redemption situation of stock ETFs, with a total fund share of 1 trillion shares as of the end of July, a decrease of 79.04 billion shares from June [5][6] - The A500 index-linked broad-based ETFs have seen the most significant redemptions, with 21 ETFs linked to the index experiencing net redemptions of over 1 billion shares in July [5][7] - The scale of A500-linked ETFs dropped from over 210 billion yuan in June to 178 billion yuan by the end of July, a decrease of 38.1 billion yuan [5][6] Group 3 - Despite the redemptions in broad-based ETFs, industry-themed ETFs continued to see net subscriptions in July, particularly in dividend themes and undervalued sectors [1][8] - The banking sector ETF was the most subscribed stock ETF in July, with an increase of 9.99 billion shares, bringing its scale to 14.577 billion yuan [8][11] - Other industry-themed ETFs, such as those related to financial technology and liquor, also saw significant net subscriptions, indicating a diverse interest from investors [9][10][12] Group 4 - Looking ahead, institutional analysts remain optimistic about continued inflows into ETFs, with expectations that industry ETFs will remain active as tools for investors to participate in structural market trends [3][12] - The anticipated market volatility in August, coupled with the current earnings disclosure period, is expected to favor technology sectors and small-cap styles [12]