金融工程专题研究：与机器人共舞，华夏中证机器人ETF投资价值分析

• The "CSI Robotics Index" (H30590.CSI) is a quantitative model that selects core listed companies in the robotics industry chain as samples to reflect the overall performance of the robotics theme. The index was launched on February 10, 2015, with a base point of 1,000 and a base date of December 31, 2010. The sample selection process includes filtering securities based on daily average trading volume, selecting companies providing robotics-related software and hardware, and ranking by market capitalization to include the top 100 securities. The index is weighted by adjusted market capitalization, with a single sample weight not exceeding 10%, and is adjusted semi-annually[23][22][68] - The "CSI Robotics Index" has demonstrated strong performance metrics. Since its inception, the annualized return is 4.76%, with a Sharpe ratio of 0.30. The index's annualized volatility is 30.62%, and its maximum drawdown is 67.24%. These metrics outperform the CSI 500 and CSI 1000 indices in terms of risk-return characteristics[41][42][68] - The "CSI Robotics Index" is concentrated in specific industries, with 46.48% weight in machinery, 18.49% in computers, and 16.17% in power equipment and new energy. The average market capitalization of the index as of December 19, 2025, is 206.43 billion RMB, with a diverse distribution across large, medium, and small-cap stocks[30][37][68] - The "CSI Robotics Index" is expected to see accelerated earnings growth, with projected net profit growth rates of 57.35% and 31.56% for 2025 and 2026, respectively. The index's EPS growth rates for 2025 and 2026 are forecasted at 52.63% and 67.78%, respectively, while ROE is expected to improve to 8.23% in 2025 and 11.33% in 2026[28][29][68] - The "CSI Robotics Index" has been widely adopted by passive investment products. As of Q3 2025, there are 13 passive funds tracking the index, with a combined scale exceeding 400 billion RMB, reflecting strong market demand[46][68] - The "China Asset CSI Robotics ETF" (562500.SH) is a passive index fund tracking the CSI Robotics Index. It was launched on December 29, 2021, and is managed by Hua Long since June 29, 2023. The fund has achieved an annualized tracking error of 0.36% and a rolling quarterly average daily tracking deviation of less than 0.02%, with an annualized excess return of 0.65% over the benchmark during the full sample period[47][50][69] - The "China Asset CSI Robotics ETF" has shown consistent performance, with annualized tracking errors below 0.42% each year under Hua Long's management. The fund's scale has grown significantly, from 5.07 billion RMB in mid-2023 to 248.58 billion RMB by December 19, 2025, accounting for 57% of the total market scale of funds tracking the CSI Robotics Index[55][56][69]