光伏反内卷再度催化，碳中和ETF(159790)翻红

Core Viewpoint - The Carbon Neutrality ETF (159790) has shown significant growth in both value and liquidity, indicating strong investor interest and confidence in the low-carbon economy theme [3][4]. Group 1: Performance Metrics - As of October 13, 2025, the Carbon Neutrality ETF has increased by 45.69% over the past six months, ranking in the top 2 among comparable funds [4]. - The ETF's highest monthly return since inception was 20.96%, with a maximum consecutive monthly gain of 48.28% [4]. - The average monthly return during rising months is 6.82% [4]. - The ETF has outperformed its benchmark with an annualized excess return of 6.03% over the past three months [4]. Group 2: Risk and Volatility - The ETF's maximum drawdown over the past six months is 5.12%, which is lower than the benchmark's drawdown of 0.13%, indicating lower risk compared to comparable funds [4]. - The Sharpe ratio for the past year is 1.06, suggesting higher returns for the same level of risk [4]. Group 3: Liquidity and Fund Flows - The Carbon Neutrality ETF has seen a turnover rate of 2.13% with a trading volume of 46.50 million yuan [3]. - Over the past six days, the ETF has experienced continuous net inflows, totaling 67.86 million yuan, with a peak single-day inflow of 26.37 million yuan [3]. - The ETF has recorded a significant increase in shares, with a growth of 59 million shares over the past two weeks, ranking in the top 1/5 among comparable funds [3]. Group 4: Fund Management and Fees - The management fee for the Carbon Neutrality ETF is 0.50%, and the custody fee is 0.10% [4]. - The tracking error over the past month is 0.012%, which is the highest precision among comparable funds [4]. Group 5: Index Tracking - The ETF closely tracks the CSI Mainland Low-Carbon Economy Theme Index, which includes companies involved in clean energy generation, energy conversion and storage, clean production and consumption, and waste management [4].