ETF及指数产品网格策略周报（2025/9/9）

Core Viewpoint - The article discusses various ETF grid strategies focusing on sectors such as new economy, defense, and banking, highlighting their potential growth driven by government policies and market conditions [3][7][11]. Group 1: New Economy ETF - The New Economy ETF (159822.SZ) aims to capture growth in sectors like internet technology, consumer upgrades, healthcare, and fintech, aligning with government initiatives to promote technological and industrial innovation [3]. - The ETF indirectly tracks the S&P China New Economy Industry Index through full holdings in the ICBC South China S&P China New Economy Industry ETF (3167.HK) [3]. Group 2: Defense ETF - The Defense ETF (512670.SH) is positioned to benefit from China's increasing defense budget, which reached 1.81 trillion yuan in 2025, a 7.2% increase year-on-year, although still below the global average as a percentage of GDP [7][8]. - The article notes the significance of the 2025 government work report emphasizing the acceleration of major defense projects and the optimization of the defense industrial system [7][8]. Group 3: Banking ETF - The Banking ETF (159887.SZ) tracks the CSI 800 Banking Index, which had a dividend yield of 5.86% as of June 30, 2025, significantly higher than the market average and the ten-year government bond yield [11]. - The article highlights the potential for increased investment from large state-owned insurance companies into A-shares, driven by regulatory support aimed at long-term capital market participation [11].