ETF 及指数产品网格策略周报（2026/3/3）

Core Viewpoint - The article discusses the performance and potential of specific ETFs, particularly focusing on the non-bank insurance ETF and tourism ETF, highlighting their growth prospects driven by market conditions and consumer behavior. Group 1: Non-Bank Insurance ETF (513750.SH) - As of Q3 2025, the total net profit attributable to shareholders of the five major listed insurance companies in A-shares reached 426.04 billion yuan, a year-on-year increase of 33.54%, primarily driven by improved equity investment returns in a low-interest-rate environment [3][4]. - The active market trading and regulatory guidance are expected to enhance the proportion of equity investments by insurance funds, providing upward elasticity for their investment side [3]. - The sales of participating insurance products have significantly increased, helping insurance companies optimize their liability costs and alleviate pressure from interest rate spreads [3]. Group 2: Tourism ETF (159766.SZ) - During the 2026 Spring Festival holiday, domestic travel reached 596 million trips, an increase of 95 million trips compared to 2025, with total spending amounting to 803.48 billion yuan, up by 126.48 billion yuan, marking record highs in both visitor numbers and spending [6][7]. - The People's Bank of China reported that during the same period, transaction volumes processed by UnionPay and NetUnion reached 39.302 billion transactions, amounting to 13.12 trillion yuan, reflecting a year-on-year increase of 37.45% in transaction counts and 19.26% in transaction amounts [6]. - The "14th Five-Year Plan" emphasizes the construction of a strong tourism nation, aiming to enhance the supply of high-quality tourism products and services, positioning tourism as a key driver for consumption upgrades and economic growth [6][7].