60000亿ETF里程碑达成！展望2026年：ETF投资如何布局?

Core Insights - The Chinese capital market has shown a clear "slow bull" trajectory in 2025, with major indices such as the Shanghai Composite Index and Shenzhen Component Index rising by 18.26% and 30.62% respectively [1] - The domestic ETF market has accelerated, surpassing 6 trillion yuan in total scale, with a growth of over 2.29 trillion yuan in 2025 [1] - Key sectors driving growth include AI and non-ferrous metals, with the non-ferrous metals sector seeing a 71.30% increase, and AI-related ETFs experiencing over 100% growth [1][3] 2025 Market Review - The non-ferrous metals sector led the market with a 71.30% increase, followed by the communication sector at 64.87% [1] - Popular ETFs such as the Huabao Non-ferrous ETF (159876) and the Huabao AI ETF (159363) have reached new highs, reflecting strong investor interest [1] - The Huabao Core Advantage Fund has significantly outperformed its benchmark, with one-year and three-year returns of 95.65% and 144.70% respectively [1] 2026 Market Outlook - The 2026 investment outlook is optimistic, with expectations of stable economic growth and a potential "Davis Double" effect in A-shares, driven by earnings growth [3] - The influx of "long money" into the market is anticipated, supported by policies encouraging insurance funds to increase their A-share investments [3] - The report highlights a focus on technology growth, particularly in AI and its applications, as a key investment theme for the coming years [6] Sector Focus - The AI industry is identified as a critical investment area, with emphasis on domestic alternatives and application scenarios [6] - The defense sector is expected to see increased demand, with military spending projected to rise in 2026 [7] - The report outlines three main commodity market drivers for 2026: green inflation, anti-involution, and a potential interest rate cut cycle, with a focus on basic metals and precious metals [7]