ETF及指数产品网格策略周报-20260114

Group 1: Grid Trading Strategy Overview - The essence of "grid trading" is a high buy low sell strategy, which does not predict market trends but utilizes natural price fluctuations within a certain range to generate profits, suitable for frequently fluctuating markets [4][13] - Characteristics of suitable grid trading targets include: selecting on-market targets, stable long-term trends, low trading costs, good liquidity, and high volatility. Equity ETFs are considered relatively suitable for grid trading [4][13] Group 2: ETF Grid Strategy Target Analysis - Hang Seng Medicine ETF (159892.SZ): Benefiting from the Federal Reserve's interest rate cut cycle, which improves the financing environment for innovative drugs. China's innovative drugs are accelerating their globalization, becoming a core driver for commercialization. As of January 4, 2026, China's new drug pipeline accounts for about 30% of the global total, ranking second worldwide. In 2025, 76 innovative drugs were approved for marketing in China, with domestic innovative drugs accounting for 80.85% of chemical drugs and 91.30% of biological products [4][14] - Brokerage ETF (159842.SZ): High market activity catalyzes the release of brokerage performance, with capital market reforms opening up long-term growth space for leading brokerages. The Shanghai Composite Index rose from a low of 3040 points to break through 4000 points, with an annual increase of 18.41%. The total A-share trading volume reached 420.21 trillion yuan, a year-on-year increase of 62.64% [5][17] - New Economy ETF (159822.SZ): A one-stop layout for high-quality new economy leading enterprises in China, capturing the key to economic transformation. The ETF indirectly tracks the S&P China New Economy Industry Index, holding leading companies in artificial intelligence, internet, biotechnology, and innovative drugs, which are high-growth sectors [6][19] - Coal ETF (515220.SH): Benefiting from the "anti-involution" policy and dividend investment logic. The central economic work conference in December 2025 identified "deepening the rectification of 'involutionary' competition" as a key task for 2026, which is expected to control new capacity and improve the coal industry's supply-demand fundamentals. As of January 13, 2026, the coal sector's dividend yield reached 5.52%, significantly higher than the market average and the yield on ten-year government bonds [7][22]