ETF周报：本周科技ETF领涨，其中AIETF涨幅中位数近7%-20250720

1. Report Industry Investment Rating No information provided in the given content. 2. Core Viewpoints of the Report - Last week (from July 14 to July 18, 2025), the median weekly return of equity ETFs was 1.37%. Among broad - based ETFs, the median return of ChiNext - related ETFs was 3.17%, the highest. By sector, the median return of technology ETFs was 2.39%, the highest. By theme, the median return of AI ETFs was 6.87%, the highest [1]. - Last week, equity ETFs had a net redemption of 15.756 billion yuan, but the overall scale increased by 27.982 billion yuan. Among broad - based ETFs, Science and Technology Innovation Board ETFs had the most net subscriptions at 325 million yuan; by sector, large - financial ETFs had the most net subscriptions at 4.104 billion yuan; by hot - theme, chip ETFs had the most net subscriptions at 4.32 billion yuan [2]. - As of last Friday, China Asset Management, E Fund Management, and Huatai - Peregrine Fund Management ranked top three in the total scale of listed non - monetary ETFs. Five ETFs are to be issued this week, including China AMC CSI A500 Enhanced Strategy ETF, Penghua SZSE Robotics Industry ETF, etc. [5]. 3. Summaries by Relevant Catalogs ETF Performance - The median weekly return of equity ETFs last week was 1.37%. Among broad - based ETFs, ChiNext - related, Science and Technology Innovation Board, A500, CSI 1000, CSI 300, CSI 500, and SSE 50 ETFs had median returns of 3.17%, 3.02%, 1.64%, 1.45%, 1.37%, 1.24%, and 0.66% respectively. Among other types, cross - border, commodity, bond, and money - market ETFs had median returns of 2.79%, 0.39%, 0.06%, and 0.02% respectively [13]. - By sector, the median returns of technology, consumption, cyclical, and large - financial sector ETFs were 2.39%, 2.00%, 1.37%, and - 0.81% respectively. By theme, AI, robotics, and pharmaceutical ETFs had relatively strong performance with median returns of 6.87%, 4.25%, and 3.33% respectively, while photovoltaic, securities, and bank ETFs had relatively weak performance with median returns of - 1.09%, - 0.96%, and - 0.46% respectively [16]. ETF Scale Change and Net Subscription/Redeem - As of last Friday, the scales of equity, cross - border, and bond ETFs were 3.0774 trillion yuan, 635 billion yuan, and 494.6 billion yuan respectively, while money - market and commodity ETFs had relatively smaller scales of 160.8 billion yuan and 159.4 billion yuan respectively. Among broad - based ETFs, CSI 300 and Science and Technology Innovation Board ETFs had larger scales [18][21]. - By sector, the scale of technology sector ETFs was 263.8 billion yuan, followed by consumption sector ETFs at 148.6 billion yuan. By theme, chip, pharmaceutical, and securities ETFs had the highest scales [23]. - Last week, equity ETFs had a net redemption of 15.756 billion yuan but an overall scale increase of 27.982 billion yuan; money - market ETFs had a net redemption of 4.885 billion yuan and an overall scale decrease of 4.871 billion yuan. Among broad - based ETFs, Science and Technology Innovation Board ETFs had the most net subscriptions at 325 million yuan, and A500 ETFs had the most net redemptions at 9.823 billion yuan. By sector, large - financial ETFs had the most net subscriptions at 4.104 billion yuan, and consumption ETFs had the most net redemptions at 2.006 billion yuan. By theme, chip ETFs had the most net subscriptions at 4.32 billion yuan, and AI ETFs had the most net redemptions at 3.284 billion yuan [29][32]. ETF Benchmark Index Valuation - As of last Friday, in broad - based ETFs, ChiNext - related ETFs had relatively low valuation quantiles; by sector, consumption ETFs had relatively moderate valuation quantiles; by sub - theme, wine and photovoltaic ETFs had relatively low valuation quantiles. Compared with the previous week, the valuation quantiles of technology and AI ETFs increased significantly [3][40]. ETF Margin Trading and Short Selling - From last Monday to Thursday, the margin trading balance of equity ETFs decreased from 41.333 billion yuan in the previous week to 41.275 billion yuan, and the short - selling volume decreased from 2.215 billion shares in the previous week to 2.186 billion shares. Among the top 10 ETFs with the highest average daily margin trading purchases and short - selling volumes, Science and Technology Innovation Board ETFs and chip ETFs had higher average daily margin trading purchases, while CSI 1000 ETFs and CSI 300 ETFs had higher average daily short - selling volumes [4][50]. ETF Managers - As of last Friday, China Asset Management, E Fund Management, and Huatai - Peregrine Fund Management ranked top three in the total scale of listed non - monetary ETFs. China Asset Management had high management scales in multiple segments such as scale - index, industry - index, and theme - style - strategy - index ETFs; E Fund Management had high management scales in scale - index and cross - border ETFs; Huatai - Peregrine Fund Management had high management scales in scale - index and theme - style - strategy - index ETFs [51]. - Ten new ETFs were established last week, and five ETFs are to be issued this week [54].