海外创新产品周报：商品相关产品发行较多-20260224

Report Industry Investment Rating No relevant content provided. Report's Core View - In the past two weeks, there were 45 newly issued products in the US, with 16 single - stock leveraged reverse products and intensive issuance of CLO products. Commodity - related ETFs are also a recent focus of issuance [2][7]. - The capital inflow of US ETFs has been relatively stable. In the past week, domestic stocks and bonds had stable inflows, international stocks had slightly higher inflows than domestic stocks, and commodity ETFs had outflows [2][12]. - Except for precious metals, affected by the global situation, energy - sector ETFs have performed outstandingly this year, with many new and old energy products having returns of over 20% [2][18]. - In December 2025, the total amount of non - money mutual funds in the US was 23.64 trillion US dollars, a decrease of 0.09 trillion from November 2025. From January 28th to February 11th, domestic stock funds had a total outflow of over 24 billion US dollars, international stock products had an average weekly outflow of over 5 billion US dollars, while bond products maintained an inflow of over 10 billion US dollars [2][22]. Summary by Relevant Catalog 1. US ETF Innovation Products: More Commodity - Related Products Issued - There were 45 newly issued products in the past two weeks, including 16 single - stock leveraged products from institutions like Leverage Shares, Direxion, etc., covering different fields [7][9]. - Fidelity, Reckoner, and Janus Henderson issued CLO ETFs with different investment grades and dividend settings [10]. - Commodity - related ETFs were a focus. Global X issued a commodity ETF using a quantitative model, and Simplify issued a low - fee CTA commodity futures index ETF [2][10]. - Global X issued Income Edge series products with weekly dividend targets. State Street and ProShares issued money ETFs. Three industry - themed ETFs were also issued [11]. 2. US ETF Dynamics 2.1 US ETF Capital: Capital Inflows Are Relatively Stable - In the past week, domestic stocks and bonds in the US had stable inflows, international stocks had slightly higher inflows than domestic stocks, and commodity ETFs had outflows [12]. - Vanguard's S&P 500 ETF had a stable inflow, and Japanese ETFs among cross - border products had the most inflows. State Street and BlackRock's S&P 500 ETFs, as well as BlackRock's small - cap and silver ETFs, led the outflows [15]. - Vanguard's products had relatively stable capital, the Nasdaq 100 ETF had an inflow last week, and bond products also showed inflows [17]. 2.2 US ETF Performance: Energy Sector Leads in Performance - Affected by the global situation, energy - sector ETFs have performed well this year. Many new and old energy products have returns of over 20%, and VanEck's oil and gas services ETF has a gain of over 35% [18]. 3. Recent Capital Flows of US Ordinary Mutual Funds - In December 2025, the total amount of non - money mutual funds in the US was 23.64 trillion US dollars, a decrease of 0.09 trillion from November 2025. The S&P 500 fell 0.05% in December, and the scale of domestic stock products decreased 1.03% [22]. - From January 28th to February 11th, domestic stock funds had a total outflow of over 24 billion US dollars, international stock products had an average weekly outflow of over 5 billion US dollars, while bond products maintained an inflow of over 10 billion US dollars [22].