指数化投资周报：黄金ETF涨幅领先，科创板块逆市净申购-20251117

1. Report Industry Investment Rating No information provided in the content. 2. Core View of the Report - In the recent week, gold ETFs led the gains, and the science and technology sector mostly declined. Funds were deployed in the science and technology innovation sector against the trend, with SGE Gold 9999 having the highest net inflow [1][2][11]. 3. Summary According to the Table of Contents 3.1 Index Product Establishment, Fund - raising, and Application - Product Establishment and Listing: Five products were listed, with a concentration of Hong Kong Stock Connect products. Eight products, including Chang Sheng CSI A500 Index Enhancement A, were established, and index - enhancement products such as Zhong Jia Beizheng 50 Component Index Enhancement A were established intensively [1][5]. - Product Issuance Information: Two index products ended their fund - raising in the coming week, and no index products were to start fund - raising. The products were Chuang Jin He Xin CSI A500 Index Enhancement A and Hua Tai Bao Xing CSI All - Index Enhancement A [1][7]. - Product Application Information: A total of 28 index products were applied for in the recent week, maintaining the diversified characteristics of industry themes. There were 18 theme funds focusing on different content tracks and 6 linked funds [1][9]. 3.2 ETF Market Review - Overall ETF Performance: In the recent week (2025/11/10 - 2025/11/14), most A - share ETFs declined. Among them, the declines of Kechuang 50ETF, ChiNext 50ETF, and CSI 500ETF were - 3.83%, - 3.67%, and - 1.24% respectively. Among Hong Kong - stock ETFs, only the Hang Seng ETF rose by 1.30%. Among US - stock ETFs, the S&P 500ETF rose by 2.68%. In terms of commodity ETFs, the non - ferrous ETF rose by 1.26%, and gold strongly rebounded by 3.26%, attracting risk - averse funds [2][11]. - A - share ETF Performance by Industry: Medical - related ETFs rose significantly, with the Chinese medicine ETF having the highest increase of 3.61%, followed by the innovative drug ETF and medical device ETF with increases of 2.82% and 1.94% respectively. The chemical ETF also had a relatively high increase of 3.38%. The science and technology sector declined significantly, with the communication ETF, electronic ETF, and chip ETF declining by - 6.99%, - 5.62%, and - 4.81% respectively [2][15]. - Cross - border ETF Performance: In the recent week, the major broad - based indices of cross - border markets rose and fell differently. The French CAC40 had the highest increase of 2.77%. Among the corresponding ETFs, Boshi Hang Seng Healthcare ETF and Hua An French CAC40ETF rose significantly, with increases of 5.90% and 3.22% respectively, while Huatai Baorui CSI KRX Korea Semiconductor ETF declined by 4.20% [19]. 3.3 ETF Fund Flow - Overall Scale and Change: As of November 14, 2025, there were 1,304 ETFs in the entire market, with a latest total scale of 5,633.719 billion yuan, a decrease of 39.14 billion yuan from the previous week. The scale of A - share ETFs decreased by 36.404 billion yuan in the recent week [2][25]. - Net Inflow and Outflow of Funds: Among non - currency ETFs, the ETFs targeting SGE Gold 9999 had the largest net inflow of funds, reaching 5.567 billion yuan, while the ETFs of CSI A500 had the largest net outflow of funds, with a total outflow of 4.04 billion yuan. Huaxia Shanghai Stock Exchange Science and Technology Innovation Board 50ETF and Southern ChiNext Artificial Intelligence ETF had relatively high fund inflows, with 2.495 billion yuan and 2.028 billion yuan respectively [2][28][31]. - Liquidity: Haifu Tong CSI Short - Term Financing ETF led in liquidity in the recent week, with an average daily trading volume of 28.769 billion yuan. E Fund CSI Hong Kong Securities Investment Theme ETF also had relatively high liquidity, with an average daily trading volume of 9.648 billion yuan [31].