Group 1 - The article discusses the importance of diversifying investments across different asset classes, including both RMB and foreign currency assets, as well as stocks and bonds [2] - It highlights the significance of USD bond funds as a crucial component of investment diversification [2] - A free course is offered to provide systematic knowledge on investing in USD bond funds, along with supplementary materials like course notes and mind maps for efficient learning [2] Group 2 - The article explains the concept of the CSI A500 index, which belongs to the A series of indices, and its classification into several major types [5] - It points out the drawbacks of market capitalization-weighted indices, such as increased index risk due to short-term speculative companies and high concentration in certain industries [5] - The A series indices incorporate two strategies: broad-based indices and strategy indices, along with industry and thematic indices to enhance long-term returns [6]

- The report does not contain any quantitative models or factors for analysis[1][2][3]

Group 1 - The Shanghai Composite Index decreased by 0.37%, while the China Securities Hong Kong 100 Materials Index reported at 707.05 points [1] - The China Securities Hong Kong 100 Materials Index has increased by 7.79% in the past month, 30.49% in the past three months, and 56.21% year-to-date [1] - The index is classified according to the China Securities industry classification standard, with a base date of December 31, 2004, and a base point of 1000.0 [1] Group 2 - The China Securities Hong Kong 100 Materials Index has a 100% allocation in the Hong Kong Stock Exchange [1] - Within the index's holdings, gold accounts for 68.40% and aluminum accounts for 31.60% [1] Group 3 - The index sample is adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made under special circumstances [2] - Adjustments occur when the parent index changes samples or when significant events affect the industry classification of sample companies [2]

- The report uses the Mahalanobis distance of weekly price and trading volume changes to measure industry crowding levels[3][17] - The construction process involves identifying industries in the first quadrant (price and volume both rising) and the third quadrant (price and volume both falling) and marking points outside the ellipse as industries with significant short-term deviations at a 99% confidence level[17] - The building materials industry experienced short-term trading overselling last week[3][18]

Core Viewpoint - The article introduces a comprehensive index map that includes various commonly used stock indices, their codes, selection rules, industry distribution, average and median market capitalization of constituent stocks, and the number of constituent stocks, which will be regularly updated for easy reference [1][2]. Group 1: Types of Indices - The index map includes several categories of stock indices: broad-based indices, strategy indices, industry indices, thematic indices, and overseas indices [4][8]. Group 2: Broad-based Indices - Examples of broad-based indices include: - CSI 300 (000300.SH): Comprises 300 large-cap stocks from the Shanghai and Shenzhen stock exchanges, with an average market cap of 1,888.48 billion and a median of 907.96 billion [5]. - CSI 500 (000905.SH): Includes 500 stocks ranked 301-800 by market cap, with an average market cap of 279.59 billion and a median of 259.32 billion [5]. - CSI 800 (000906.SH): Covers 800 stocks, with an average market cap of 882.92 billion and a median of 340.58 billion [5]. Group 3: Strategy Indices - Strategy indices focus on specific investment strategies, such as: - CSI Dividend (000922.CSI): Selects 100 stocks with high dividend yields and stable dividends, with an average market cap of 1,970.77 billion [6]. - Shanghai Dividend (000015.SH): Comprises 50 stocks with high dividend yields from the Shanghai Stock Exchange, with an average market cap of 2,828.36 billion [6]. - Shenzhen Dividend (399324.SZ): Includes 40 stocks with stable dividend histories and high dividend ratios, with an average market cap of 984.44 billion [6]. Group 4: Industry Indices - Industry indices represent specific sectors, such as: - CSI Medical (930641.CSI): Selects stocks involved in traditional Chinese medicine production and sales, with an average market cap of 151.90 billion [7]. - CSI Real Estate (399393.SZ): Comprises 50 stocks from the real estate sector with significant market capitalization and liquidity, with an average market cap of 189.85 billion [7]. Group 5: Thematic Indices - Thematic indices focus on specific investment themes, such as: - CSI Consumer (000932.SH): Selects major consumer industry stocks from the CSI 800 index, with an average market cap of 1,155.60 billion [7]. - CSI Innovation (931152.CSI): Includes up to 50 representative companies involved in innovative drug research, with an average market cap of 485.93 billion [7].

Group 1 - The Shanghai Composite Index opened lower and the CSI 300 Food Index reported 7270.47 points, indicating a recent decline in the food sector [1] - The CSI 300 Food Index has decreased by 2.82% over the past month, 7.95% over the past three months, and 10.52% year-to-date [1] - The CSI 300 Index categorizes its 300 sample stocks into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries, providing a comprehensive analysis tool for investors [1] Group 2 - The CSI 300 Food Index is primarily composed of stocks from the Shanghai Stock Exchange, which accounts for 84.47%, while the Shenzhen Stock Exchange accounts for 15.53% [1] - Within the holdings of the CSI 300 Food Index, dairy products represent 61.67%, condiments and cooking oils account for 29.13%, and meat products make up 9.20% [1] Group 3 - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, but can change with temporary adjustments due to special events affecting sample companies [2] - Companies that are delisted or undergo mergers, acquisitions, or splits will be handled according to specific calculation and maintenance guidelines [2]

- The report uses Mahalanobis distance to measure industry crowding based on weekly price and transaction volume changes[3][17][18] - The construction process involves identifying industries where price and transaction volume deviate significantly, with industries outside the ellipse in quadrant 1 indicating short-term significant crowding[17] - Last week, the building materials industry showed significant trading crowding[18]

Core Viewpoint - The article introduces a comprehensive index map that includes various commonly used stock indices, their codes, selection rules, industry distribution, and average and median market capitalizations of constituent stocks, which will be regularly updated for easy reference [1][2]. Group 1: Types of Indices - The index map includes several categories of stock indices: broad-based indices, strategy indices, industry indices, thematic indices, and overseas indices [4][5]. Group 2: Specific Indices Overview - The Shanghai Stock Exchange 50 Index (000016.SH) consists of 50 large-cap, liquid stocks from the Shanghai A-share market, reflecting the performance of influential leading companies [5]. - The Shenzhen Component Index (399001.SZ) includes 500 large-cap, liquid companies from the Shenzhen Stock Exchange, representing the overall market performance [5]. - The ChiNext Index (399006.SZ) is composed of 100 representative companies from the ChiNext board, reflecting the market tier of innovative and growth-oriented enterprises [5]. - The MSCI A50 Index (746059.MI) selects the largest 50 stocks from the Shanghai and Shenzhen markets that are included in the Stock Connect programs [5]. - The Hang Seng Index (HSI.HI) measures the performance of the largest and most liquid companies listed in Hong Kong [5]. Group 3: Dividend Indices - The China Securities Dividend Index (000922.CSI) reflects the overall performance of high dividend yield companies in the Shanghai and Shenzhen markets [5]. - The Shanghai Dividend Index (000015.SH) aims to represent high dividend yield companies in the Shanghai market [5]. - The Hong Kong Stock Connect High Dividend Index (950090.CSI) tracks high dividend ordinary shares listed in mainland China [5]. Group 4: Performance Metrics - The article provides various performance metrics for different indices, including market capitalization and liquidity measures, which are essential for investors to assess the indices' effectiveness [5][6].

Core Viewpoint - The article presents an index map that includes various commonly used stock indices, their codes, selection rules, industry distribution, average and median market capitalization of constituent stocks, and the number of constituent stocks, which will be regularly updated for easy reference [1][4]. Group 1: Index Overview - The index map includes several categories of stock indices such as broad-based indices, strategy indices, industry indices, thematic indices, and overseas indices [4]. - Key broad-based indices in the A-share market include the CSI series indices like CSI 300, CSI 500, CSI 800, and CSI All Share, which are selected based on the market capitalization of listed companies and cover stocks from various industries [8]. Group 2: Index Details - The CSI 300 index consists of the 300 largest and most liquid A-shares listed on the Shanghai and Shenzhen stock exchanges, with an average market capitalization of 177,899 million and a median of 851.80 million [3]. - The CSI 500 index includes 500 stocks ranked from 301 to 800 in terms of market capitalization, with an average market capitalization of 263.02 million and a median of 241.01 million [3]. - The CSI 800 index covers 800 stocks, while the CSI 1000 index includes 1000 stocks, with respective average market capitalizations of 831.51 million and 121.62 million [3]. - The Shanghai Stock Exchange 50 index is composed of the 50 most representative stocks from the Shanghai market, reflecting the performance of leading companies, with an average market capitalization of 5,084.82 million [3]. - The Shenzhen Component Index selects 500 large and liquid companies from the Shenzhen market, with an average market capitalization of 430.20 million [3]. Group 3: Industry and Thematic Indices - The article lists various thematic indices such as the Consumption Index, which selects major consumer industry stocks from the CSI 800 index, with an average market capitalization of 1,255.44 million [6]. - The Healthcare Index includes 100 large-cap stocks in the healthcare sector, with an average market capitalization of 399.02 million [6]. - The Technology Index reflects the performance of 50 leading technology companies, with an average market capitalization of 439.71 million [6].

Group 1 - The ETF market is entering a "thousand-base era," with a wide variety of ETF tools available, making it challenging for investors to achieve their financial goals [1] - Investors often face difficulties in distinguishing between similar ETFs, such as 中证A500 and 科创板50, which are both broad-based products [1] - Understanding the classification system of ETFs is essential for investors to navigate the market effectively and make informed decisions [1] Group 2 - Stock indices can be categorized into four main types: scale indices (broad-based), industry indices, thematic indices, and style factor indices [2] - Scale indices in China are divided based on market and market capitalization, while international indices are categorized only by market [2] - Industry indices reflect the performance of stocks within a specific industry, while thematic indices focus on long-term trends or concepts that span multiple industries [2][4] Group 3 - The classification of ETFs serves as a map for investors, enabling them to quickly find products that meet their allocation needs and systematically review their investment strategies [5] - Style factor indices are further divided into growth, value, dividend, and others, with growth and value being further segmented by market capitalization [4][5] - Investors can match their needs with appropriate products by understanding ETF classifications, which helps clarify the role of each ETF in their investment portfolio [5]