债券ETF周度跟踪（10.27-10.31）：市场回暖，债券ETF量价齐升-20251102

1. Report Industry Investment Rating No information provided in the given text. 2. Core View of the Report The bond ETF market is experiencing a recovery, with both trading volume and prices rising. The net inflow of funds into bond - type ETFs has accelerated, and the capital situation of local bond ETFs has significantly improved. The share inflows of interest - rate bond and credit - bond ETFs have marginally improved, while the share of local bond ETFs has shown a steep increase. The net values of major representative bond ETFs have continued to grow [2]. 3. Summary According to the Directory 3.1 1.1 各类债券 ETF 资金净流入情况 - The net inflow of funds into bond - type ETFs has accelerated. Last week, the net inflows of interest - rate bond ETFs, credit - bond ETFs, and convertible - bond ETFs were 4.489 billion yuan, 9.919 billion yuan, and - 1.692 billion yuan respectively, with a total net inflow of 12.717 billion yuan in the bond ETF market. The capital situation of local bond ETFs has significantly improved, with the net inflow scale increasing substantially last week. Specifically, the top three in terms of net inflow amount were Science and Technology Innovation Bond ETF (+6.323 billion yuan), local bond - type ETFs (+3.087 billion yuan), and Short - term Financing Bond ETF (+2.003 billion yuan), and only the convertible - bond ETF had a negative net inflow of funds [2][5]. 3.2 1.2 各类债券 ETF 份额走势 - The share inflows of interest - rate bond and credit - bond ETFs have marginally improved, and the share of local bond ETFs has shown a steep increase. As of the close on October 31, 2025, the shares of treasury - bond, policy - financial - bond, local - bond, credit - bond, and convertible - bond ETFs changed by 8.38 million shares, 3.31 million shares, 26.99 million shares, 207.60 million shares, and - 124.20 million shares respectively compared to the previous week's close, with a total change of 122.08 million shares in bond - type ETFs [2][16]. 3.3 1.3 主要债券 ETF 份额及净值走势 - The share inflow of the Urban Investment Bond ETF has increased significantly. As of the close on October 31, 2025, the shares of the 30 - year Treasury Bond ETF, Policy Financial Bond ETF, 5 - year Local Bond ETF, Urban Investment Bond ETF, and Convertible Bond ETF changed by 6.24 million shares, 1.49 million shares, no change, 123.50 million shares, and - 146.80 million shares respectively compared to the previous week's close. - The net values of all representative targets have continued to grow. As of the close on October 31, 2025, the net values of the 30 - year Treasury Bond ETF, Policy Financial Bond ETF, 5 - year Local Bond ETF, Urban Investment Bond ETF, and Convertible Bond ETF changed by 1.21%, 0.46%, 0.22%, 0.19%, and 0.74% respectively compared to the previous week's close [2][21][24]. 3.4 1.4 基准做市信用债 ETF 份额及净值走势 - There was no significant change in the share, with only a small inflow. As of the close on October 31, 2025, the shares of the existing 8 credit - bond ETFs changed by no change, no change, 0.20 million shares, no change, no change, 0.20 million shares, 0.25 million shares, and 0.20 million shares respectively compared to the close on October 24, 2025. - The net values continued the upward trend. As of the close on October 31, 2025, the net values of the 8 credit - bond ETFs changed by 0.26%, 0.27%, 0.28%, 0.24%, 0.33%, 0.34%, 0.35%, and 0.34% respectively compared to the close on October 24, 2025 [2][28]. 3.5 1.5 科创债 ETF 份额及净值走势 - The shares of Science and Technology Innovation Bond ETF Tianhong and Science and Technology Innovation Bond ETF Taikang led the increase significantly. Among the existing 24 Science and Technology Innovation Bond ETFs, the top three products in terms of net share inflow last week were Science and Technology Innovation Bond ETF Tianhong, Science and Technology Innovation Bond ETF Taikang, and Science and Technology Innovation Bond ETF Invesco, with changes of 43.62 million shares, 22.14 million shares, and 1.70 million shares respectively compared to the close on October 24, 2025. - The net values have increased for multiple consecutive weeks. The top three Science and Technology Innovation Bond ETFs in terms of net - value increase last week were Science and Technology Innovation Bond ETF Tianhong, Science and Technology Innovation Bond ETF Boshi, and Science and Technology Innovation Bond ETF Fuguo, with increases of 0.33%, 0.32%, and 0.32% respectively [2][32][35]. 3.6 1.6 单只债券 ETF 市场表现情况 - The net - value increase of ultra - long - term Treasury Bond ETF led again, and the scales of 0 - 4 Local Bond ETF and Science and Technology Innovation Bond ETF Tianhong led the growth significantly. Last week, the net - value increases of 30 - year Treasury Bond ETF Boshi and 30 - year Treasury Bond ETF continued to lead, at 1.38% and 1.27% respectively. - In terms of premium/discount rates, 30 - year Treasury Bond ETF, 30 - year Treasury Bond ETF Boshi, and Urban Investment Bond ETF led in terms of premium rates. In terms of scale change, the top three in terms of net inflow amount were Science and Technology Innovation Bond ETF Tianhong (+4.463 billion yuan), 0 - 4 Local Bond ETF (+3.029 billion yuan), and Science and Technology Innovation Bond ETF Taikang (+2.199 billion yuan). The convertible - bond ETF had a significantly higher net outflow amount than other products last week, at - 1.979 billion yuan, indicating that funds were still withdrawing [2][37].