量化基金月度跟踪（2026年2月）：1月市场上涨，跟踪沪深300的量化基金跑赢基准-20260203

• The report categorizes quantitative funds into three main types: active quantitative funds, enhanced index quantitative funds, and hedged quantitative funds, each with distinct characteristics and advantages suitable for different trading needs[10] - Active quantitative funds are further divided based on the indices they track, including CSI 300, CSI 500, other broad-based indices, industry theme indices, and smart beta indices[13] - Enhanced index quantitative funds are also categorized similarly, tracking indices such as CSI 300, CSI 500, other broad-based indices, industry theme indices, and smart beta indices[13] - In January 2026, the median return rates for active quantitative funds tracking CSI 500, other broad-based indices, and CSI 300 were 8.63%, 8.02%, and 6.54%, respectively[14][18] - The median excess returns for active quantitative funds tracking CSI 500, other broad-based indices, and CSI 300 in January 2026 were 10.33%, 8.63%, and 6.54%, respectively[18] - The median annualized volatility for active quantitative funds tracking CSI 300 in January 2026 was 13.55%, with a maximum drawdown of -1.97%[26][27] - The median annualized volatility for active quantitative funds tracking CSI 500 in January 2026 was 15.09%, with a maximum drawdown of -2.06%[28][33] - The top three active quantitative funds tracking other broad-based indices in January 2026 were those tracking the ChiNext Index and CSI 800[34][39] - The top three active quantitative funds tracking industry theme indices in January 2026 were those tracking the CSI Leading Enterprises, CSI High-end Equipment, and CICC Electronic Components indices[40][41] - The top smart beta active quantitative fund in January 2026 was the one tracking the CSI 800 Value Index[42][43] - Enhanced index funds tracking CSI 500 and CSI 300 had median excess returns of -2.0% and 1.1%, respectively, in January 2026[46][50] - The median annualized volatility for enhanced index funds tracking CSI 500 in January 2026 was 16.93%, with a maximum drawdown of -2.44%[46][47] - The median annualized volatility for enhanced index funds tracking CSI 300 in January 2026 was 12.0%, with a maximum drawdown of -2.44%[50][53] - The top three enhanced index funds tracking other broad-based indices in January 2026 were those tracking CSI 800, CSI A500, and CSI 800[57] - The top three enhanced index funds tracking industry theme indices in January 2026 were those tracking the photovoltaic industry, chip industry, and consumer leaders indices[58] - The top smart beta enhanced index fund in January 2026 was the one tracking the CSI State-owned Enterprise Dividend Index[59][61] - Hedged quantitative funds had an average absolute return of 0.25% in January 2026, with higher net asset value volatility compared to December 2025[62][63]