Report Industry Investment Rating No information provided in the content. Core Viewpoints - Last week, the share of treasury bond ETFs significantly rebounded, while the growth momentum of credit bond and convertible bond ETFs continued. Convertible bond ETFs showed outstanding performance with an increase in share and net value, as well as the highest cumulative net inflow [2][5]. Summary by Directory 1.1 各类债券 ETF 份额走势 - As of August 15, 2025, the shares of treasury bond, policy - financial bond, local bond, credit bond, and convertible bond ETFs were 555.45 million, 491.75 million, 79.78 million, 3101.15 million, and 4675.35 million respectively, with a total of 8903.48 million for bond - type ETFs. Compared with August 8, 2025, the changes were 37.52 million, - 9.28 million, - 1.60 million, 40.77 million, and 241.90 million respectively, and the total change for bond - type ETFs was 309.32 million. Compared with the end of last month, the changes were 26.72 million, - 14.39 million, - 0.40 million, 194.64 million, and 490.20 million respectively, and the total change for bond - type ETFs was 696.78 million [2][5]. 1.2 主要债券 ETF 份额走势 - The share changes of major bond ETFs were consistent with those of various bond ETFs. As of August 15, 2025, the shares of selected major bond ETFs changed by 24.50 million, - 8.58 million, - 1.00 million, 25.20 million, and 236.30 million respectively compared with the previous week's closing [2][7]. - The share trend of credit bond ETFs was gentle. As of August 15, 2025, among the 8 existing credit bond ETFs, most showed no change compared with the previous week's closing, except for one with a 0.30 - million increase [2][10]. - The share performance of individual science - innovation bond ETFs was differentiated, but the overall growth was maintained. As of August 15, 2025, among the 10 existing science - innovation bond ETFs, the share changes compared with the previous week's closing were - 1.25 million, 0.44 million, 40.15 million, - 0.25 million, no change, no change, 0.10 million, 3.40 million, 0.05 million, and no change respectively [2][13]. 1.3 主要债券 ETF 净值走势 - Last week, the net values of major bond ETFs turned down, while convertible bond ETFs rose against the trend. As of August 15, 2025, the net values of selected major bond ETFs changed by - 1.75%, - 0.48%, - 0.12%, - 0.08%, and 1.56% respectively compared with the previous week's closing [2][15]. - The net values of credit bond ETFs declined across the board. As of August 15, 2025, the net values of 8 credit bond ETFs changed by - 0.14%, - 0.14%, - 0.13%, - 0.12%, - 0.18%, - 0.18%, - 0.19%, and - 0.18% respectively compared with the previous week's closing [2][17]. - The net values of science - innovation bond ETFs slightly declined. As of August 15, 2025, the net values of 10 science - innovation bond ETFs changed by - 0.16%, - 0.13%, - 0.16%, - 0.17%, - 0.15%, - 0.18%, - 0.17%, - 0.12%, - 0.16%, and - 0.15% respectively compared with the previous week's closing [2][21]. 1.4 部分债券 ETF 净流入情况 - Convertible bond ETFs had the highest cumulative net inflow last week and this month. Weekly, the top three bond ETFs with cumulative net inflows were convertible bond ETFs, urban investment bond ETFs, and 30 - year treasury bond ETFs, with net inflow amounts of 313.03 million yuan, 36.12 million yuan, and 31.13 million yuan respectively. Monthly, the top three were convertible bond ETFs, urban investment bond ETFs, and Shanghai Stock Exchange convertible bond ETFs, with net inflow amounts of 556.90 million yuan, 197.80 million yuan, and 86.56 million yuan respectively. In terms of cumulative trading days, the top three in the past 10 trading days were convertible bond ETFs (481.93 million yuan), urban investment bond ETFs (186.62 million yuan), and Shanghai Stock Exchange convertible bond ETFs (92.76 million yuan); and in the past 20 trading days, they were convertible bond ETFs (1096.32 million yuan), urban investment bond ETFs (242.94 million yuan), and Shanghai Stock Exchange convertible bond ETFs (152.66 million yuan) [2][24].
整体份额提升、净值回落,可转债ETF表现亮眼