同类规模最大的自由现金流ETF（159201）连续6日合计“吸金”超4.36亿元，配置价值凸显

Core Viewpoint - The market is experiencing a mixed performance with the National Free Cash Flow Index showing signs of recovery, driven by strong performances from specific stocks and a favorable funding inflow trend [1] Group 1: Market Performance - Major indices opened lower but showed divergence in performance, with the National Free Cash Flow Index rebounding after an initial drop [1] - Notable stocks such as Yaxiang Integration and Jiejia Weichuang have seen consecutive trading limit increases, indicating strong investor interest [1] Group 2: Fund Flows - The largest free cash flow ETF (159201) experienced a slight decline, presenting a low-positioning opportunity for investors [1] - Over the past six days, the ETF has attracted a total net inflow of 436 million yuan, bringing its latest scale to 4.385 billion yuan [1] Group 3: Economic Indicators - The improvement in the fundamental economic outlook is becoming more tangible, with July's high-frequency economic data showing some weakness due to various factors [1] - From January to June, the year-on-year growth rate of general fiscal expenditure in China recorded an increase of 8.9%, a significant improvement compared to the -2.8% from the previous year [1] Group 4: Sector Analysis - The "anti-involution" trend is providing a strong mid-term logic for the A-share market, with expectations of improved supply-demand dynamics in the midstream materials and manufacturing sectors [1] - The free cash flow ETF focuses on industry leaders with abundant free cash flow across diverse sectors such as home appliances, automotive, non-ferrous metals, power equipment, and petrochemicals, effectively mitigating risks from single industry volatility [1]