金工ETF点评：宽基ETF单日净流入18.64亿元，食饮、美护、商贸拥挤变幅较大

• The report constructs an industry congestion monitoring model to monitor the congestion of Shenwan first-level industry indices on a daily basis[3] - The ETF product screening signal model is built based on the premium rate Z-score model, which provides potential arbitrage opportunities through rolling calculations[4] - The industry congestion monitoring model indicates that the congestion levels of the power equipment, basic chemicals, and environmental protection industries were high, while the congestion levels of the computer, automotive, and machinery equipment industries were low[3] - The premium rate Z-score model is used to identify potential arbitrage opportunities in ETF products, while also warning of potential pullback risks[4]