“牛市旗手”20日吸金逾34亿元！补涨逻辑凸显，顶流券商ETF（512000）规模快速逼近400亿元

Group 1 - The core viewpoint of the news highlights the strong performance of the brokerage sector, with a significant increase in net profits and a positive outlook for the industry despite recent market adjustments [1][2] - The brokerage ETF (512000) experienced a net inflow of 4.87 billion yuan on the latest trading day, with cumulative net inflows exceeding 34 billion yuan over the past 20 days, indicating robust trading activity [1] - The total net profit of 49 listed brokerages reached 182.55 billion yuan in the third quarter, representing a year-on-year growth of 61.87%, with 14 firms reporting profit increases exceeding 100% [1] Group 2 - Despite the strong earnings, the brokerage sector has shown signs of lagging in market performance, with the securities company index only increasing by 7.21% year-to-date, underperforming the Shanghai Composite Index and CSI 300 by over 10 percentage points [2] - The current price-to-book ratio of the brokerage sector stands at 1.62 times, placing it at the 50.31% percentile over the past decade, indicating a mismatch between high growth and low valuation [2] - The brokerage ETF (512000) and its linked fund (006098) track the performance of the securities company index, with nearly 60% of the portfolio concentrated in the top ten leading brokerages, while also including mid and small brokerages for high growth potential [2]