多空双方博弈或加剧，但趋势性上涨行情的主基调不变，同类规模最大的自由现金流ETF（159201）配置价值凸显

Core Viewpoint - The A-share market experienced a slight decline at the opening, with the Shanghai Composite Index down by 0.21%, the Shenzhen Component down by 0.22%, and the ChiNext down by 0.32%. However, the National Free Cash Flow Index showed resilience, turning positive with a gain of approximately 0.15% during trading [1] Group 1: Market Performance - The largest free cash flow ETF (159201) has seen continuous net inflows over the past 12 days, totaling 605 million yuan, reaching a new high of 5.17 billion yuan since its inception, making it the top fund in its category [1] - The head of research at Debon Securities, Cheng Qiang, anticipates that after breaking the 4000-point mark, the market may face some adjustment pressure due to profit-taking, but the overall trend remains upward, with expectations for continued oscillation and upward movement of the index [1] Group 2: ETF Characteristics - The free cash flow ETF (159201) focuses on industry leaders with abundant free cash flow, covering sectors such as non-ferrous metals, automotive, 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 fluctuations, 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 representing the lowest fee levels in the market [1]