511030：心泊公司债，财享更稳健

Group 1: Treasury Auctions - The U.S. Treasury auctioned $44 billion in seven-year bonds with a winning yield of 3.790%, marking a new low since September 2024, and a bid-to-cover ratio of 2.46 [1] - The auction of six-month bonds had a winning yield of 3.445% with a bid-to-cover ratio of 3.21 [1] - The auction of 52-week bonds yielded 3.880% with a bid-to-cover ratio of 2.87 [1] Group 2: Credit Bond ETF Performance - The total scale of credit bond ETFs reached 486.2 billion yuan, increasing by 4.4 billion yuan in a single day, with the benchmark market-making ETF rising by 120 million yuan and the Sci-Tech bond ETF increasing by 401 million yuan [4] - The median weighted duration of these ETFs is 3.2 years, with an average transaction amount of 5.01 million yuan and a median turnover rate of 50.6% [4] - The median yield is 1.87%, with a median discount rate of -13.8 basis points [4] Group 3: Company Bond ETF Insights - The company bond ETF (511030) saw a counter-trend growth of 102 million yuan, attributed to its short duration (1.94 years), static high yield (currently 1.95%), and minimal discount [4] - As of October 28, 2025, the company bond ETF has increased by 0.06%, achieving four consecutive days of gains, with a year-to-date increase of 1.26% [4] - The latest scale of the company bond ETF reached 23.346 billion yuan, a new high in nearly a year, with a total of 2.19 billion shares, also a six-month high [6] Group 4: Fund Flows and Leverage - The company bond ETF experienced continuous net inflows over the past four days, with a maximum single-day net inflow of 14.6 million yuan, totaling 26.8 million yuan and an average daily net inflow of 6.7 million yuan [7] - Leverage funds are actively positioning in the company bond ETF, with a net financing purchase of 1.4457 million yuan on the previous trading day and a latest financing balance of 4.2489 million yuan [8] Group 5: Performance Metrics - Over the past five years, the net value of the company bond ETF has increased by 13.23%, with a maximum monthly return of 1.22% and the longest consecutive monthly gain of 9 months [8] - The maximum drawdown in the last six months was 0.28%, with a relative benchmark drawdown of 0.06% [9] - The management fee for the company bond ETF is 0.15%, and the custody fee is 0.05%, with a tracking error of 0.013% over the past year [10]