非银行金融行业ETF市场周报：股票ETF逆势增长，市场降费步伐加速

Investment Rating - The report maintains a "Recommended" investment rating for the ETF market, expecting the industry index to outperform the benchmark index by over 5% in the next 3-6 months [6][40]. Core Insights - The ETF market is experiencing a counter-cyclical growth in share volume despite a market pullback, with significant inflows into A500 ETFs [6][8]. - The total scale of the ETF market reached 3.63 trillion yuan as of November 15, 2024, reflecting a year-to-date increase of 76.9% [6][8]. - The report highlights a rapid reduction in management and custody fees across multiple ETFs, with 29 ETFs reducing management fees since the second half of 2024 [6][8]. Summary by Sections Market Overview - Major indices experienced a decline this week, with the CSI 300 down by 3.29% and the ChiNext Index down by 3.36% [6]. - The total scale of stock ETFs is 2.85 trillion yuan, with a year-to-date increase of 96.2% [6]. ETF Fee Reduction - A total of 29 ETFs have reduced management fees, with 23 stock ETFs lowering fees to 0.15%, the lowest in the market [6][8]. - The report notes that the reduction in fees is a strategic move to enhance competitiveness among fund managers [6][8]. Fund Performance - The report indicates that the A500 ETF series has seen significant interest, with the first batch of A500 ETFs exceeding 100 billion yuan in scale [6][8]. - The report also mentions that the South Fund has lifted restrictions on large purchases for non-individual investors in its CSI 300 ETF [6][8]. Future Outlook - The report anticipates continued growth in the ETF market, driven by increased competition and fee reductions, while cautioning that fund managers must carefully evaluate the cost-effectiveness of fee reductions [6][8].