每经编辑 曾子建 截至今日收盘，A500指数ETF（159351）成交27.08亿元，较昨日略有缩量，但成交额依旧位居全市场 同类第三，深市同类第二；全天换手率达18.22%，稳居全市场同类第一。值得注意的是，今日A500指 数ETF（159351）收盘再次出现小幅溢价，说明主力资金依旧看好中证A500指数未来趋势。 消息面，截至4月17日，全市场ETF总规模突破4万亿元大关，迎来新的里程碑。从2004年首只ETF破 冰，到如今中证A500ETF、科创板ETF等创新产品百花齐放，中国ETF市场在政策红利、资金配置与生 态优化的共振下，正加速驶入黄金时代。 A500指数ETF（159351）跟踪的中证A500指数，由各行业市值较大、流动性较好的500只股票组成，行 业分布均衡，偏向大中盘风格，且新质生产力成分占比较高，为投资者配置A股代表性公司提供了工 具。场外投资者可以通过A500指数ETF联接基金（A类022453；C类022454）布局优质资产上行机遇。 4月18日，A股市场延续震荡走势，收盘前由涨转跌，最终下跌0.11%，止步8连涨走势。场内热门宽基 标的A500指数ETF（159351）继续走强，收盘 ...

Investment Rating - The industry is rated as "Overweight" [7] Core Views - The ETF market experienced a slight increase in total assets by 0.1% month-on-month, while stock ETFs saw a decline of 1.5% due to a drop in the CSI 300 index [11][12] - The product structure remains relatively stable, with a slight decrease in the proportion of stock ETFs and an increase in bond ETFs [11][15] - The competitive landscape shows a slight decrease in the concentration of leading fund companies, with the top three maintaining their positions but experiencing a slight decline in market share compared to the beginning of the year [3][19] - New product issuance saw a batch of stock ETFs launched in March, raising a total of 9.9 billion yuan [4][25] - Regulatory policies continue to support the market, with a faster issuance of equity funds expected, indicating potential for market expansion [5][35] Summary by Sections Total Structure - As of the end of March 2025, the net asset value of stock ETFs totaled 282.13 billion yuan, reflecting a month-on-month decrease of 1.5%. The total net asset value of all ETFs reached 380.04 billion yuan, with a month-on-month increase of 0.1% [2][12] - The proportion of stock ETFs in the total ETF market is 74%, showing a slight decrease of 1.3 percentage points [15] Competitive Landscape - The concentration of fund companies in the ETF market has slightly decreased, with CR3, CR5, and CR10 at 44.9%, 57.5%, and 77.7% respectively, reflecting a month-on-month decline of 0.4 to 0.5 percentage points [3][19] - The top three fund companies, including Huaxia, E Fund, and Huatai-PB, have maintained their positions but have seen a slight decline in market share since the beginning of the year [19][24] New Product Issuance - In March, stock ETFs were issued in bulk, with a total of 9.9 billion yuan raised. This includes various ETFs from multiple fund companies focusing on free cash flow and index themes [4][25][28] Policy Dynamics - The development of equity funds is expected to accelerate, with the CSRC chairman stating that stock ETF products can now be registered quickly within five working days. The number of registered equity funds has significantly increased, indicating a robust growth trajectory for the ETF market [5][35]