海外创新产品周报：个人投资者相关股票产品发行-20260126

1. Report Industry Investment Rating - No industry investment rating information is provided in the report. 2. Core View of the Report - Last week, 19 new products were issued in the US, with multiple ETFs related to stocks of personal investors' concern. The capital of international stock products in US ETFs flowed in significantly, while domestic stock ETFs had outflows. Precious metal ETFs rose significantly. In terms of US ordinary public - offering funds, the redemption pressure of domestic stock - type products eased in November 2025, and the outflows of domestic and international stock funds narrowed from January 7th to 14th, while the inflow of bond products decreased [2]. 3. Summary by Relevant Catalogs 3.1 US ETF Innovation Products: Issuance of Stock Products Related to Personal Investors - Last week, 19 new products were issued in the US, including 5 single - stock leveraged products, 1 digital currency leveraged product, and multiple composite - strategy products. The comprehensiveness of strategies is increasing, and ETF strategies are getting closer to hedge funds. Tuttle Capital issued a "Meme Stock" strategy product investing in 15 - 30 stocks concerned by personal investors on social media and using a put - option spread strategy to increase returns. Defiance issued the "Retail Kings" ETF, actively managed and investing in stocks with high personal - investor participation, covering AI, semiconductors, and aerospace, holding 30 - 50 stocks and rebalancing quarterly [7][8]. 3.2 US ETF Dynamics 3.2.1 US ETF Capital: Obvious Inflow of International Stock Products - In the past week, US domestic stock ETFs had outflows, while international stock products had an inflow of over $15 billion. Many emerging - market products had top - ranked inflows, with a relatively dispersed inflow level. State Street's S&P 500 ETF had large outflows. Among the products, Vanguard's S&P 500 ETF had the highest inflow, and the US total - market stock ETF also had an obvious inflow. In bond products, composite bonds had inflows, while credit - bond sub - products had outflows, and gold maintained an inflow [11][14]. 3.2.2 US ETF Performance: Obvious Rise of Precious Metal ETFs - Since this year, the precious - metal sector has continued to rise rapidly. The year - to - date increase of gold ETFs is about 14%, that of silver ETFs exceeds 35%, and other precious - metal varieties such as platinum also had prominent increases [16]. 3.3 Recent Capital Flow of US Ordinary Public - Offering Funds - In November 2025, the total amount of non - money public - offering funds in the US was $23.72 trillion, an increase of $0.03 trillion compared to October. In November, the S&P 500 rose 0.13%, and the scale of US domestic stock - type products decreased by 0.15%, with the redemption pressure easing. From January 7th to 14th, the outflow of US domestic stock funds narrowed again to $14.9 billion, the outflow of international stock products also slowed down, and the inflow of bond products decreased to $1.4 billion [18].