【公募基金】风险因素缓解，海内外市场保持震荡上行趋势——公募基金量化遴选类策略指数跟踪周报（2025.10.26）

Core Viewpoints - The market has shown signs of recovery from previous disturbances, with the Shanghai Composite Index rising above 3950 points, driven by increased confidence in industries and technology following the 20th Central Committee's Fourth Plenary Session [3] - The A-share market is expected to maintain an upward trend despite short-term resistance, with limited pullback space, suggesting a strategy of gradually accumulating positions [4][5] - The overseas market has seen reduced sensitivity to risks, with a positive outlook for U.S. stocks driven by strong technology trends and AI capital expenditures [5] Quantitative Strategy Allocation Views - The preferred strategy ranking is: Stock-based enhancement strategy > Overseas equity strategy > Evergreen low-volatility strategy [4] - The stock-based enhancement strategy has shown better performance compared to the evergreen low-volatility strategy, which serves as a foundational allocation to optimize portfolio volatility [4][5] Fund Strategy Performance - The Evergreen low-volatility fund strategy recorded a weekly return of 2.256%, while the stock-based enhancement strategy achieved 2.441% [9] - The cash-enhanced fund strategy yielded 0.026%, outperforming the benchmark [6] - The overseas equity allocation fund strategy recorded a return of 0.929%, indicating a strong long-term outlook for U.S. stocks amid technological advancements [6][9] Fund Composition Insights - The Evergreen low-volatility fund has maintained low volatility and drawdown characteristics, providing stable returns even during market fluctuations [10] - The stock-based enhancement fund strategy aims to identify funds with strong alpha generation capabilities, showing potential for better performance in improved market conditions [11] - The cash-enhanced fund strategy has consistently outperformed benchmarks, providing effective cash management solutions [13] - The overseas equity allocation fund has accumulated significant excess returns, benefiting from global technology trends and the Fed's monetary policy [16] Fund Construction Philosophy - The company employs quantitative methods to create a fund selection pool that meets diverse investor needs in varying market conditions [18] - The Evergreen low-volatility fund aims to provide stable returns in high-risk environments, appealing to conservative investors [20] - The stock-based enhancement fund focuses on identifying funds with strong stock-picking abilities to deliver excess returns [21] - The cash-enhanced fund strategy emphasizes selecting high-yield funds while minimizing volatility [22] - The overseas equity allocation fund strategy utilizes momentum and reversal factors to select high-performing international indices for investment [23]