一文看懂十五五规划核心方向相关ETF！

Core Points - The A-share market is experiencing a historic moment, with the Shanghai Composite Index surpassing the 4000-point mark for the first time since August 2015, marking a significant recovery in the market [1][2] - This milestone is characterized as the "lowest valuation ever" for the 4000-point level, with current PE (TTM) at 16.96 and PB at 1.54, lower than previous peaks in 2007 and 2015 [13][14] Market Dynamics - The current market rally is driven by a "hard technology-driven" structural bull market, with the electronics sector contributing the most to the index's rise, accounting for 34.9% of the increase [2][9] - The shift towards passive investment strategies is notable, with passive funds now holding more A-share market value than active funds, indicating a significant change in market structure [9][16] Sector Contributions - Key sectors contributing to the index's rise include: - Electronics: 437.12 points, with a 58.87% increase - Banking: 111.64 points, with a 12.25% increase - Non-ferrous metals: 68.16 points, with a 63.97% increase - Power equipment: 65.65 points, with a 38.18% increase - Pharmaceutical and biological: 63.77 points, with an 11.72% increase [3][4] ETF Market Trends - The ETF market has seen significant inflows, with over 1.1 trillion yuan entering through ETFs since September 2023, highlighting the growing popularity of technology-focused ETFs [9][20] - Notable ETFs include: - 5G Communication ETF: 165.63% increase - Artificial Intelligence AI ETF: 151.19% increase - Chip ETF: 149.14% increase [6][7] Economic Policy Context - The "14th Five-Year Plan" emphasizes innovation-driven growth and self-reliance in technology, which is expected to further influence market dynamics and investment strategies [17][20] - Key areas of focus in the plan include new energy, aerospace, quantum technology, and biomanufacturing, aligning with current market trends [17][20] Valuation Metrics - Current valuation metrics indicate a favorable entry point for investors, with PE and PB ratios significantly lower than previous market peaks, suggesting potential for future growth [13][14][35]