公募基金量化遴选类策略指数跟踪周报（2025.08.31）：市场高位小幅回调整固，不改上行趋势-20250902

1. Report Industry Investment Rating No relevant information found in the given content. 2. Core Views of the Report - The A-share equity market showed high-level volatility this week. The Shanghai Composite Index rose by 0.84%. The domestic equity fund strategy index also recorded varying degrees of gains. The low-volatility strategy maintained its low-volatility attribute but lost excess returns, while the stock fund enhancement strategy achieved better returns [2]. - The allocation view of quantitative strategies is: stock fund enhancement strategy > overseas equity strategy > Evergreen low-volatility strategy. The A-share market is expected to maintain an upward trend, and the stock fund enhancement portfolio has more room. The Evergreen low-volatility strategy can be used as a base allocation, and defensive sectors such as banks still have high long-term allocation value [3]. - Overseas, the US stock market is expected to pick up its upward trend. In the long term, the US economy has not shown a significant recession, and the US stock market is expected to start a new round of market under the combined effect of rapid technological growth and the digestion of short-term risk events [4][8]. 3. Summary by Related Catalogs 3.1 Quantitative Strategy Allocation View - The stock fund enhancement strategy has more room in the current A-share market, and the Evergreen low-volatility strategy can be used as a base allocation. Defensive sectors such as banks have high long-term allocation value after adjustment [3]. - Overseas, the US stock market is expected to pick up its upward trend, and global investment still has strong diversification allocation value [4][8]. 3.2 Performance of Toolized Fund Combinations - Evergreen Low-Volatility Fund Combination: It maintained low volatility and small drawdowns, with a weekly return of 1.249% and an excess return of -1.841%. Since the strategy started on July 31, 2023, it has achieved significant excess returns and has both defensive and offensive characteristics [5][13][15]. - Stock Fund Enhancement Fund Combination: The strategy has been running for a short time. It is expected to have stronger elasticity after the market environment improves. It had a weekly return of 1.389% and an excess return of -1.701% [5][13][18]. - Cash Enhancement Fund Combination: It continuously outperformed the benchmark, with a weekly return of 0.027% and a cumulative excess return of over 0.41% since the strategy started in late July 2023 [6][13][19]. - Overseas Equity Allocation Fund Combination: It has accumulated a high level of excess returns since July 31, 2023. Global allocation can increase the returns of the equity investment portfolio. It had a weekly return of 0.329% and an excess return of -1.513% [6][13][22]. 3.3 Construction Ideas of Toolized Fund Combinations - Evergreen Low-Volatility Fund Combination: Select funds with long-term stable returns from high-equity position actively managed funds, and construct an actively managed equity fund combination with low volatility characteristics from the two dimensions of net value performance and position characteristics [27]. - Stock Fund Enhancement Fund Combination: Allocate funds managed by fund managers with stronger Alpha mining capabilities in actively managed equity funds, and construct a stock fund enhancement fund combination strategy based on the significant continuity of Alpha returns [28]. - Cash Enhancement Fund Combination: Construct a money fund selection system by comprehensively considering various money fund factors to help investors obtain higher returns and reduce return volatility risks [29]. - Overseas Equity Allocation Fund Combination: Select QDII equity funds corresponding to the equity market indexes of different countries or regions according to long-term and short-term technical indicators, and construct an overseas market selection combination to meet the needs of global asset allocation [30].