参与ETF投资时可能面临的风险（上）

Group 1 - The main risks faced by investors in ETF investments include deviations between the returns of the underlying index and the average returns of the stock market [1] - The volatility of the underlying index can lead to fluctuations in the prices of constituent stocks, affecting the fund's price and net asset value [1] - Tracking error may not meet the agreed targets due to various factors, causing discrepancies between the fund's market performance and its benchmark [1] - Liquidity risks may arise in the secondary market due to insufficient trading volume, impacting the ability to buy or sell ETFs [1] - There is a risk of significant deviation between the trading price of ETF shares in the secondary market and the fund's unit net value, influenced by supply and demand dynamics [1]