ETF周报（20250915-20250919）-20250922

Report Industry Investment Rating - Not provided in the report. Core Viewpoints - The report analyzes the secondary market trends, ETF product profiles (including market performance, fund flows, trading volumes, margin trading, and new issuance/listing) in the period from September 15 to September 19, 2025 [1][22]. Summary by Relevant Catalogs 1. Secondary Market Overview - In the sample period, the GEM Index, STAR 50, and S&P 500 had the top weekly returns, at 2.34%, 1.84%, and 1.22% respectively. The S&P 500 had the highest PE valuation quantile at 100.00%, and the Nikkei 225 had the lowest at 85.25% [1][10]. - Among Shenwan primary industries, Coal, Power Equipment, and Electronics had the top returns at 3.51%, 3.07%, and 2.96% respectively, while Banking, Non - ferrous Metals, and Non - bank Finance had the lowest returns at - 4.21%, - 4.02%, and - 3.66% respectively. The industries with the highest valuation quantiles were Social Services, Coal, and Real Estate at 100.00%, 100.00%, and 99.18% respectively, and those with lower quantiles were Non - bank Finance, Agriculture, Forestry, Animal Husbandry and Fishery, and Household Appliances at 22.95%, 40.16%, and 50.61% respectively [17]. 2. ETF Product Profile 2.1 ETF Market Performance - Among different types of ETFs, QDII ETFs had the best average performance with a weighted average return of 2.45%, while Style ETFs had the worst with - 1.38%. Among ETFs classified by listing sectors, those related to the GEM and STAR - GEM 50 performed well with weighted average returns of 2.30% and 2.07% respectively, while CSI 300 and CSI 2000 ETFs performed poorly with - 0.38% and - 0.25% respectively [22]. - Among industry - themed ETFs, Technology sector ETFs had the best average performance with 2.34%, and Financial Real Estate sector ETFs had the worst with - 3.73%. In terms of themes, Chip Semiconductor and Consumer Electronics ETFs performed well with 3.50% and 2.98% respectively, while Non - bank and Banking ETFs performed poorly with - 3.91% and - 3.87% respectively [27]. 2.2 ETF Fund Inflows and Outflows - From the perspective of different types of ETFs, Industry - themed ETFs had the largest net inflow of 372.55 billion yuan, and Broad - based ETFs had the smallest at - 173.39 billion yuan. From the perspective of listing sectors, Hong Kong Stock ETFs had the largest net inflow of 198.26 billion yuan, and STAR - Market - related ETFs had the smallest at - 73.54 billion yuan [2][29]. - From the industry sector perspective, Financial Real Estate sector ETFs had the largest net inflow of 143.03 billion yuan, and Biomedical sector ETFs had the smallest at 10.99 billion yuan. From the theme perspective, Non - bank and Robot ETFs had the largest net inflows of 136.28 billion yuan and 49.27 billion yuan respectively, while Artificial Intelligence and Chip Semiconductor ETFs had the smallest at - 16.07 billion yuan and - 10.24 billion yuan respectively [2][31]. 2.3 ETF Trading Volume - From the perspective of different types of ETFs, QDII ETFs had the largest increase in average daily trading volume change rate at 13.72%, and Broad - based ETFs had the largest decrease at - 10.54%. From the perspective of listing sectors, US Stock ETFs had the largest increase at 5.27%, and STAR - GEM 50 had the largest decrease at - 31.65% [36][39]. - From the industry sector perspective, Traditional Manufacturing sector ETFs had the largest increase in average daily trading volume change rate at 2.49%, and Biomedical sector ETFs had the largest decrease at - 13.47%. From the theme perspective, Non - bank and Chip Semiconductor ETFs had the largest average daily trading volumes in the past 5 days at 245.85 billion yuan and 127.16 billion yuan respectively. Robot and Central - State - owned - enterprise ETFs had the largest increases in average daily trading volume change rate at 36.40% and 11.19% respectively, while Consumer Electronics and Military - industry ETFs had the largest decreases at - 40.28% and - 29.46% respectively [42][45]. 2.4 ETF Margin Trading - In the sample period, the net margin purchase of all equity ETFs was - 13.29 billion yuan, and the net short - selling was - 0.25 billion yuan. The Cathay CSI All - Index Securities Company ETF had the largest net margin purchase, and the Huatai - Peregrine CSI 300 ETF had the largest net short - selling [2][51]. 2.5 ETF New Issuance and Listing - During the sample period, 19 funds were established and 8 funds were listed [3][53].