全市场规模最大空天国防类ETF，航空航天ETF（159227）触底回升，成交额同类第一

Core Viewpoint - The A-share market experienced a collective decline on September 23, with the aerospace and defense sector showing volatility. The Aerospace ETF (159227) demonstrated resilience, indicating strong investor interest in military-related stocks amid broader market fluctuations [1]. Group 1: Market Performance - The three major A-share indices fell collectively, with the aerospace and defense sector opening high but closing lower. The Aerospace ETF (159227) saw a decline of 1.77% at one point, with a trading volume of 65.32 million yuan, maintaining its position as the largest ETF in the aerospace and defense category [1]. - The Aerospace ETF has reached a total scale of 1.35 billion yuan, making it the largest aerospace and defense ETF in the market [1]. Group 2: Industry Developments - Recent military exercises involving China's naval aircraft, including the J-15T, J-35, and KJ-600, highlight the increasing importance of air power in modern warfare. This trend emphasizes the need for advanced aerospace equipment, which is a core focus of military development [1]. - According to Dongfang Securities, the demand for military equipment is expected to grow over the long term. The implementation of the "14th Five-Year Plan" is anticipated to provide new development opportunities for China's military industry, driving advancements in technology, equipment upgrades, and optimization of the industrial structure [1]. - China's military trade has been expanding, with competitive pricing for weaponry expected to create new growth points in the industry [1]. Group 3: ETF Composition - The Aerospace ETF (159227) closely tracks the Guozheng Aerospace Index, with a high concentration of 97.96% in the first-level military industry, making it the highest purity military index in the market. It covers key sectors such as aerospace equipment, satellite navigation, and new materials [2]. - The ETF includes leading companies in the military sector, focusing on emerging fields such as large aircraft manufacturing, low-altitude economy, and commercial aerospace [2].