主题ETF关注度提升：海外创新产品周报20251103-20251103

Report Summary 1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints - The attention on thematic ETFs in the US has increased, with new products in sectors such as electricity, natural gas, and unmanned driving [7][8]. - US ETFs have seen continuous inflows into equity products, while gold ETFs have continued to experience outflows [10]. - Bond products among US ETFs have performed well this year, with broad - based composite bond products and 20 - year - plus Treasury bond ETFs achieving notable returns [14]. - In September 2025, the total amount of non - money public funds in the US increased, but the redemption pressure on domestic equity products rose. Last week, domestic equity funds saw outflows approaching $20 billion, while bond products returned to inflows [4][16]. 3. Summary by Catalog 3.1 US ETF Innovation Products: Thematic ETF Attention Grows - Last week, there were 20 new ETF products issued in the US. Franklin Templeton issued 5 different municipal bond products [7]. - Arin Risk Advisors issued a tail - risk ETF, which aims to avoid risks during market downturns through active management and has a flexible portfolio structure [8]. - VistaShares issued an electricity ETF, Global X issued a natural gas ETF, and REX Shares issued an unmanned driving ETF, indicating increased attention to relevant themes [8]. - Roundhill expanded leveraged + option weekly dividend products, and Rex Shares issued an option product [9]. 3.2 US ETF Dynamics 3.2.1 US ETF Funds: Equity Products See Continuous Inflows - In the past week, US ETFs had inflows of over $30 billion, with significant inflows into equity products and continuous outflows from gold ETFs. The SPDR S&P 500 ETF had inflows of over $15 billion, leading other products. Growth ETFs had inflows, while leveraged ETFs continued to experience outflows [10][12]. 3.2.2 US ETF Performance: Bond Products Perform Well - This year, US stocks have performed well, and bonds have also delivered good returns. Broad - based composite bond products have yields of over 6%, and 20 - year - plus Treasury bond ETFs have yields of over 7%. Short - term bonds and municipal bonds have relatively weaker performance [14]. 3.3 Recent Fund Flows of US Ordinary Public Funds - In September 2025, the total amount of non - money public funds in the US was $23.47 trillion, an increase of $0.49 trillion compared to August. The scale of domestic equity products increased by 2.13%, but the redemption pressure increased. Last week, domestic equity funds saw outflows approaching $20 billion, while bond products returned to inflows [4][16].