基金双周报：ETF市场跟踪报告-20250908

ETF Market Review - The overall performance of ETF products has been good in the past two weeks, with the ChiNext Index showing the largest increase among major broad-based ETFs, while the New Energy sector ETF recorded the highest growth among industry and thematic products [3][10] - In the past two weeks, there has been a significant acceleration in net outflows from broad-based ETFs, particularly from the SSE 50, CSI 500, and CSI 1000/CSI 2000 series ETFs, while net inflows were observed in technology, dividend, and military ETFs [3][10] Fund Flow Overview - As of September 5, 2025, the newly established ETFs totaled 14, with a total issuance of 8.77 billion shares, all of which are stock ETFs. Compared to the end of 2024, the scale of various ETFs has increased significantly, with bond ETFs up by 220.36%, commodity ETFs by 105.73%, industry + dividend ETFs by 78.94%, QDII ETFs by 34.31%, and broad-based ETFs by 10.40% [20][21] Thematic ETF Tracking - In the technology sector, ETFs tracking communication equipment-related indices performed well in the past two weeks, with significant net inflows observed in products tracking the Hang Seng Technology Index, while those tracking the CSI All-Share Semiconductor Index experienced net outflows [25][28] - For dividend-themed ETFs, those tracking the CSI Dividend Quality Index saw the largest increase in returns, with net inflows in products tracking dividend indices, while those tracking low-volatility dividends experienced net outflows [3][15] - In the consumer sector, ETFs tracking the CSI Tourism Index showed strong performance, while those tracking the China Education Index had a high premium rate [3][15] Bond ETF Trends - Since the beginning of 2025, credit bond and government bond ETFs have seen significant net inflows. In the past two weeks, there was a substantial inflow into short-term bonds, convertible bonds, and government bond ETFs, with short-term and local government bond ETFs reversing from net outflows to net inflows [15][19]