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海外创新产品周报20251110：商品多空策略产品发行-20251110
Shenwan Hongyuan Securities·2025-11-10 11:57

Group 1: Report Summary - The report focuses on the latest developments in US ETFs and public mutual funds, including new product launches, capital flows, and performance [2] Group 2: New US ETF Products - Last week, 19 new products were launched in the US, with more than half being single - stock products. These included 2x leveraged products, leveraged + option strategy products, and other types [5] - Stoneport Advisors issued a commodity long - short strategy product, which uses a quantitative method to construct a long - short strategy for US - listed commodity futures [6] - First Trust launched a "critical metals" ETF, investing in 50 stocks related to new - energy and technology metals [6] - iShares issued a large - cap core index enhancement product and a European corporate bond product [7] - KraneShares launched an options strategy product using a Delta - neutral spread strategy [7] Group 3: US ETF Dynamics 3.1 US ETF Capital Flows - In the past week, US ETF inflows exceeded $30 billion, with significant inflows into stock products and outflows from Bitcoin ETFs [8] - BlackRock's S&P 500 ETF ranked first in inflows, short - term bond ETFs had obvious inflows, while technology - related products and Bitcoin ETFs had outflows [11] 3.2 US ETF Performance - Korean - related products led the gains among US - listed stock ETFs this year. Two passive products had gains of over 80%, and a 3x leveraged product had a gain of over 300%. However, except for the largest product with a scale close to $7 billion, the other products had small scales [14] Group 4: Recent Capital Flows of US Public Mutual Funds - In September 2025, the total amount of non - money public mutual funds in the US was $23.47 trillion, an increase of $0.49 trillion from August 2025. The S&P 500 rose 3.53% in September, and the scale of US domestic equity products increased by 2.13%, but the redemption pressure increased [15] - Last week, the outflows of US domestic equity funds expanded to $37 billion, and bond products also had small outflows [16]