大盘或在当前位置进行“换挡”，低费率的自由现金流ETF（159201）布局价值凸显

Core Insights - A-shares opened higher on October 15, with the Shanghai Composite Index up 0.06%, the Shenzhen Component Index up 0.19%, and the ChiNext Index up 0.29% [1] - The Guozheng Free Cash Flow Index experienced a slight increase of approximately 0.25%, with leading stocks including Qin'an Co., Shenhuo Co., and Jihong Co. [1] - The largest free cash flow ETF (159201) followed the index's upward trend, highlighting the value of strategic positioning [1] Industry Trends - According to a report from Zheshang Securities, there are clear signs of a resurgence in the financial and cyclical sectors, while the technology sector has weakened [1] - External news influences suggest that the market may be shifting focus towards large financials, cyclical stocks, and dividend-paying stocks [1] Investment Strategy - The free cash flow ETF (159201) focuses on industry leaders with abundant free cash flow, covering sectors such as non-ferrous metals, automotive, oil and petrochemicals, and power equipment, which are characterized by high barriers to entry [1] - The ETF's diversified industry coverage effectively mitigates risks associated with single industry volatility, making it a favorable choice for core portfolio allocation [1] - The fund management annual fee is 0.15%, and the custody annual fee is 0.05%, both of which are the lowest in the market [1]