ETF总规模较年初增加近2万亿元
Zheng Quan Ri Bao·2025-11-21 16:15

Core Insights - The total scale of ETFs reached 5.69 trillion yuan as of November 21, with an increase of nearly 2 trillion yuan since the beginning of the year, indicating strong growth in the ETF market [1] - Stock ETFs have shown the highest growth in scale this year, reflecting a sustained demand for core asset allocation among investors, driven by improved market sentiment and expectations of economic recovery [1][2] - A total of 328 new ETFs were launched this year, raising a combined 253.3 billion units, with significant increases in the financial sector and specific indices like the Hang Seng Tech Index [1][3] ETF Market Dynamics - Stock ETFs dominate the market, accounting for 78.27% of the total number, 66.99% of the total units, and 64.23% of the total net asset value [2] - Among stock ETFs, scale index ETFs contribute the most to net asset value, making up 42.23% of the total, significantly higher than thematic and sector indices [2] - Cross-border ETFs also show strong demand, with a share of 26.21% in units and 16.02% in net asset value, indicating a robust interest in global asset allocation [2] Economic and Regulatory Factors - The improvement in China's macroeconomic environment has boosted investor confidence, alongside a growing preference for passive investment tools, leading to an increase in ETF supply [3] - The demand for low-cost, high-transparency ETFs has risen, supported by regulatory policies that streamline the fund registration process [3] - Commodity and money market ETFs have also seen growth, with asset net values increasing to 4.07% and 5.38% respectively, driven by specific liquidity needs and risk-hedging demands [3] Performance of Individual ETFs - A total of 68 ETFs have seen their scale grow by over 10 billion yuan this year, with 5 products exceeding 50 billion yuan in growth, predominantly among broad-based ETFs [3] - The significant growth in stock-based broad ETFs reflects an enhanced expectation of economic recovery, directing funds towards large-cap blue-chip indices [3]