近一年涨超120%！有色疯狂新高，有色ETF华宝（159876）连续17个交易日大额吸金

Group 1 - The core viewpoint is that the non-ferrous metal sector is experiencing a significant bull market, with the Huabao Non-Ferrous ETF (159876) reaching a historical high and a one-year increase of over 120% [1][2] - The Huabao Non-Ferrous ETF has seen a net inflow of approximately 490 million units recently, with a total net inflow of nearly 800 million yuan over the past 17 trading days [1] - Analysts suggest that the current non-ferrous metal super cycle is driven by the "AI leap" and "century change," indicating a strong macro narrative similar to historical phases like post-war reconstruction and China's opening up [1] Group 2 - Historical data indicates that commodity cycles are long, typically lasting 25-30 years, with upward trends lasting 8-10 years and downward trends lasting 15-20 years [2] - There is a consensus among institutions that the non-ferrous metal sector is likely to continue its bullish trend, with expectations of a bull market driven by monetary, demand, and supply factors by 2026 [2] - The Huabao Non-Ferrous ETF and its linked fund comprehensively cover various metals, including copper, aluminum, gold, rare earths, and lithium, allowing for better exposure to different economic cycles [2]