公司债ETF（511030）：差异化定位反内卷式竞争

Group 1 - The credit bond market continues to show strong performance, with credit spreads narrowing, particularly in the case of high-rated bonds [1] - The yield on high-rated bonds has decreased across the board, with the long-end showing a more significant decline [1] - The trading volume of industrial bonds has slightly increased, while the trading volume of urban investment bonds and secondary perpetual bonds has decreased [1] Group 2 - In the current market environment, it is recommended to maintain a shorter duration in credit bonds, focusing on mid to short-term strategies [2] - The recent liquidity conditions favor short-term bonds, which have a higher degree of certainty and attractive yield spreads [2] - The Ping An Company Bond ETF has seen a contrary growth in scale, attributed to its short duration and stable returns compared to other credit bond ETFs [2]