Group 1 - The article emphasizes the importance of diversifying investments across different asset classes, including both RMB and foreign currency assets, as well as stocks and bonds [2] - It introduces a free course that systematically covers investment knowledge related to US dollar bond funds, highlighting its significance in a diversified portfolio [2] Group 2 - The article explains the concept of industry indices, which focus on stocks within specific sectors such as consumer, healthcare, and finance [5] - It outlines the need to manage investment proportions in individual industries due to their higher volatility, which can average between 30%-50% annually, compared to broader indices like the CSI 300, which typically sees volatility around 20%-25% [5] - It advises investors to limit exposure to any single industry to 15%-20% to mitigate risk [5] - The article also stresses the importance of selecting strong industries for investment and ensuring a diversified allocation across different sectors [6][7]

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 updated regularly 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][2]. Group 2: Index Details - The article provides detailed information on specific indices, including: - CSI 300 Index (000300.SH): Average market cap of ¥214.64 billion, median market cap of ¥108.39 billion, consisting of 300 stocks [7]. - CSI 500 Index (000905.SH): Average market cap of ¥33.42 billion, median market cap of ¥29.64 billion, consisting of 500 stocks [7]. - CSI 800 Index (000906.SH): Average market cap of ¥101.38 billion, median market cap of ¥40.13 billion, consisting of 800 stocks [7]. - CSI 1000 Index (000852.SH): Average market cap of ¥14.66 billion, median market cap of ¥12.79 billion, consisting of 1000 stocks [7]. - CSI 2000 Index (932000.CSI): Average market cap of ¥6.06 billion, median market cap of ¥5.32 billion, consisting of 2000 stocks [7]. Group 3: Industry Distribution - The article outlines the industry distribution across various indices, highlighting the following: - Materials: 8.86% in broad-based indices, 18.14% in strategy indices, and 11.44% in industry indices [11]. - Real Estate: 0.65% in broad-based indices, 1.34% in strategy indices, and 0.83% in industry indices [11]. - Financials: 25.45% in broad-based indices, 33.98% in strategy indices, and 4.49% in industry indices [11].

1. Report Industry Investment Rating - Not mentioned in the provided content 2. Core View of the Report - The report provides daily tracking data of various ETFs, including information such as tracking index, RSI, net purchase, trading volume, institutional holding ratio, etc., but does not explicitly state a core view [2][4][6] 3. Summaries Based on Related Catalogs 3.1 Data Explanation - The table tracks daily frequency data of ETFs, divided into "broad - based" and "theme" sub - tables according to the tracking index type. The "broad - based" ETFs track mainstream broad - based indices like CSI 300, and "theme" ETFs track industry/style indices like non - bank and dividend. A fund pool is constructed by selecting one or more large - scale ETFs in each type. The RSI is calculated based on a 12 - day average rise - fall ratio, with RSI>70 indicating an overbought market and RSI<30 indicating an oversold market. Net purchase is calculated based on the formula NETBUY(T) = NAV(T)–NAV(T - 1)*(1 + R(T)). Some data may have deviations or be null due to factors such as new listings and late disclosure [2][3] 3.2 Broad - based ETFs - **CSI 300**: Multiple ETFs like Huatai - Berry CSI 300 ETF (510300.SH) with a circulation market value of 428.929 billion yuan, RSI of 57.93, and net purchase of 5.17 billion yuan are presented. Different funds have different performance in terms of market value, RSI, net purchase, etc. [4] - **CSI 500**: For example, Southern CSI 500 ETF (510500.SH) has a circulation market value of 135.661 billion yuan, RSI of 55.28, and net purchase of 3.62 billion yuan [4] - **SSE 50**: Huaxia SSE 50 ETF (510050.SH) has a circulation market value of 184.021 billion yuan, RSI of 63.28, and net purchase of 6.95 billion yuan [4] - Other broad - based indices such as CSI 800, CSI 1000, CSI 2000, CSI A50, etc. also have corresponding ETFs with different performance indicators [4] 3.3 Theme ETFs - **Consumption Electronics**: ETFs like Huaxia Guozheng Consumption Electronics Theme ETF (159732.SZ) with a circulation market value of 297.7 million yuan, RSI of 43.54, and net purchase of 0.19 billion yuan are included [6] - **Non - bank**: Guotai CSI All - Index Securities Company ETF (512880.SH) has a circulation market value of 63.432 billion yuan, RSI of 48.79, and net purchase of 9.60 billion yuan [6] - **Bank**: Huabao CSI Bank ETF (512800.SH) has a circulation market value of 20.596 billion yuan, RSI of 65.52, and net purchase of - 1.04 billion yuan [6] - **Dividend**: Huatai - Berry SSE Dividend ETF (510880.SH) has a circulation market value of 17.911 billion yuan, RSI of 75.44, and net purchase of - 0.50 billion yuan [6] - **New Energy**: Guangfa Guozheng New Energy Vehicle Battery ETF (159755.SZ) has a circulation market value of 15.868 billion yuan, RSI of 65.71, and net purchase of 9.04 billion yuan [6] - **Chip Semiconductor**: Huaxia Guozheng Semiconductor Chip ETF (159995.SZ) has a circulation market value of 28.815 billion yuan, RSI of 47.52, and net purchase of 5.58 billion yuan [6] - Other themes such as photovoltaic, military, ESG, robot, AI, real estate, etc. also have corresponding ETFs with various performance data [6]

Group 1 - Funds are suitable investment products for ordinary people [2] - New investors should consider what type of funds are appropriate for them [2] - There is a free course available to help new investors understand fund investment from scratch [2] Group 2 - Dividend indices are a common type of strategy index [5] - Strategy indices are based on specific investment strategies and cover a wide range of industries [6] - There are four main types of indices: broad-based indices, strategy indices, industry indices, and thematic indices [6] Group 3 - The core strategy of dividend indices is to select stocks with high dividend yields [8] - Dividend yield is calculated by dividing the total cash dividends by the company's market capitalization [8] - For example, a company with a market cap of 10 billion and annual dividends of 500 million has a dividend yield of 5% [8]

- The report introduces the **RSI (Relative Strength Index)** as a quantitative factor, which measures the average price gains and losses over a 12-day period to assess market conditions. The formula is: $ RSI = 100 - 100 / (1 + RS) $ where RS represents the ratio of average gains to average losses over the specified period. RSI values above 70 indicate an overbought market, while values below 30 suggest an oversold market[2][4] - Another quantitative factor discussed is **Net Purchase Amount (NETBUY)**, which calculates the net inflow or outflow of funds for ETFs. The formula is: $ NETBUY(T) = NAV(T) - NAV(T-1) * (1 + R(T)) $ Here, NAV(T) is the net asset value of the ETF on day T, NAV(T-1) is the net asset value on the previous day, and R(T) is the return rate on day T[2][4] - The report provides detailed tracking of **ETF performance metrics**, including daily price trends, institutional holdings, and transaction volumes, which are used to evaluate the effectiveness of the ETFs in tracking their respective indices[2][4] - The report evaluates the **RSI factor** as a useful tool for identifying market conditions, particularly overbought and oversold states, which can guide trading decisions[2][4] - The **Net Purchase Amount factor** is highlighted for its ability to measure fund flows, providing insights into investor sentiment and market dynamics[2][4] - The report includes specific RSI values for various ETFs, such as: - **华泰柏瑞沪深300ETF**: RSI = 56.06[4] - **易方达沪深300ETF**: RSI = 55.49[4] - **华夏上证50ETF**: RSI = 62.44[4] - **南方中证银行ETF**: RSI = 67.26[4] - **华安三菱日联日经225ETF**: RSI = 73.34[4] - Net Purchase Amount values for selected ETFs include: - **华泰柏瑞沪深300ETF**: NETBUY = -12.68 billion[4] - **易方达沪深300ETF**: NETBUY = -5.66 billion[4] - **华夏上证50ETF**: NETBUY = -0.24 billion[4] - **南方中证银行ETF**: NETBUY = -1.69 billion[4] - **华安三菱日联日经225ETF**: NETBUY = -0.23 billion[4] - The report emphasizes the importance of these factors in understanding market trends and making informed investment decisions[2][4]

- The report tracks various types of daily frequency data for ETFs, divided into "broad-based" and "thematic" sub-tables[2] - The RSI (Relative Strength Index) is calculated using the formula: $ RSI = 100 - 100 / (1 + RS) $, where RSI is the ratio of average gains to average losses over a specific period (12 days)[2] - The net subscription amount is calculated using the formula: $ NETBUY(T) = NAV(T) - NAV(T-1) * (1 + R(T)) $, where NETBUY(T) is the net subscription amount, NAV(T-1) is the ETF's net asset value from the previous trading day[2] - The report includes data on whether ETFs support T+0 trading[2] - The report provides detailed information on various ETFs, including tracking index performance, ETF names, security codes, market capitalization, RSI, net subscriptions, trading volume, intraday trend, management fee rate, institutional holdings, and T+0 trading support[4] - The report includes data on institutional holdings as disclosed in the latest annual or semi-annual reports, excluding holdings by corresponding feeder funds[3] - The report notes that missing values represent newly listed funds with insufficient data or funds that have not yet disclosed annual or semi-annual reports[3]

Core Viewpoint - The article presents a comprehensive index map for investors, detailing various 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: Broad-based Indices - Important broad-based indices in the A-share market include the CSI series such as the CSI 300, CSI 500, CSI 800, and the CSI All Share, which are selected based on the market capitalization of listed companies and cover a wide range of industries [9]. Group 3: Strategy Indices - Common strategy indices in the A-share market include: - CSI 300: Represents large-cap stocks - CSI 500: Represents mid-cap stocks - CSI 1000: Represents small-cap stocks - CSI 2000: Represents micro-cap stocks [11]. - Strategy indices enhance investment options and cater to diverse investor needs [13]. Group 4: Dividend and Value Indices - Dividend indices select stocks with high dividend yields, while value indices focus on stocks with low price-to-earnings and price-to-book ratios, as well as high dividend yields [12]. - Low volatility indices target stocks with lower price volatility, and fundamental indices select stocks based on revenue, cash flow, net assets, and dividend size [12][13].

Group 1 - The article emphasizes the importance of understanding different types of index funds, particularly bond index funds, which are less familiar to most investors compared to stock index funds [2] - It introduces four main categories of indices: broad-based indices, strategy indices, industry indices, and thematic indices [6] Group 2 - For broad-based index investment, it is crucial to consider the balance between large-cap and small-cap stocks, noting that in 2024, large-cap stocks like CSI 300 are expected to perform well while small-cap stocks may lag [8] - A classic combination for investment is the pairing of CSI 300 with CSI 500, and potentially adding CSI 1000 for more small-cap exposure [9] - In strategy index investment, it is important to balance growth and value styles, as A-shares exhibit a rotation between these styles over time [10][11] - The article highlights that from 2019 to 2020, growth style was strong, while from 2021 to 2024, value style is expected to dominate [12] Group 3 - Industry and thematic index investments are characterized by high volatility, with broad-based indices typically experiencing 20%-30% fluctuations annually, while industry indices can see 30%-50% volatility [13] - It is recommended to limit exposure to any single industry to 15%-20% to manage risk effectively [13] - The article advises investors to select long-term themes when investing in thematic indices, citing examples of past popular themes that may no longer be relevant [13]

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints No explicit core viewpoints are presented in the provided content. The report mainly offers daily tracking data of various ETFs, including their performance metrics such as trading volume, net subscriptions, and RSI indicators. 3. Summary by Category A. Data Explanation - The report tracks daily frequency data of ETFs, divided into "broad - based" and "theme" sub - tables according to the tracked index categories. The "broad - based" ETFs track mainstream broad - based indices like CSI 300 and CSI 500, while "theme" ETFs track industry/style indices such as non - bank and dividend indices [2]. - A fund pool is constructed by selecting one or several large - scale ETFs in each type for analysis [2]. - The RSI relative strength indicator is calculated based on the ratio of average gains to average losses over a 12 - day period. RSI > 70 indicates an overbought market, and RSI < 30 indicates an oversold market [2]. - The net subscription amount is calculated using the formula NETBUY(T) = NAV(T)–NAV(T - 1)*(1 + R(T)), where NAV(T - 1) is the previous trading day's ETF net value [2]. - The intraday market trend is based on a 5 - minute intraday transaction price trend chart, with red dots representing the day's highest and lowest prices. Some intraday data may be missing [2]. - The institutional holding ratio is the estimated ratio from the latest annual or semi - annual reports of ETF funds, excluding the holding ratio of corresponding linked funds, and the data may have deviations [3]. B. Broad - based ETFs - Multiple ETFs tracking indices like CSI 300, CSI 500, SSE 50, etc. are presented. For example, the Huatai - Peregrine CSI 300 ETF has a circulation market value of 416.721 billion yuan, a decline of 0.94%, an RSI of 60.18, a net subscription of 703 million yuan, and a trading volume of 3.345 billion yuan [4]. - Different ETFs show varying performance in terms of market value, price changes, net subscriptions, and trading volumes. For instance, the Tianhong CSI 300 ETF has a relatively small market value of 8.977 billion yuan and a net subscription of - 53 million yuan [4]. C. Theme ETFs - **Consumer Electronics**: ETFs such as the Huaxia China Securities Consumption Electronics Theme ETF have a market value of 4.423 billion yuan and a decline of 3.44%. They also have different RSI values, net subscriptions, and trading volumes [6]. - **Non - bank**: The Guotai CSI All - Index Securities Company ETF has a market value of 5.4226 billion yuan and a decline of 0.41%. The industry shows diverse performance among different ETFs in terms of price changes, net subscriptions, etc. [6]. - **Banking**: The Huabao CSI Bank ETF has a market value of 1.4223 billion yuan and a gain of 0.13%. Different bank - related ETFs have different institutional holding ratios and trading volumes [6]. - **Dividend**: The Huatai - Peregrine SSE Dividend ETF has a market value of 1.9402 billion yuan and a gain of 0.03%. Dividend - themed ETFs show differences in performance and net subscriptions [6]. - **New Energy**: The Huaxia CSI New Energy Vehicle ETF has a market value of 549.4 million yuan and a decline of 1.50%. New - energy - related ETFs have different price trends and net subscription situations [6]. - **Chip and Semiconductor**: The Huaxia China Securities Semiconductor Chip ETF has a market value of 2.7587 billion yuan and a decline of 1.24%. These ETFs also vary in RSI values and trading volumes [6]. - **Photovoltaic**: The Huatai - Peregrine CSI Photovoltaic Industry ETF has a market value of 1.3512 billion yuan and a decline of 1.07%. Photovoltaic - themed ETFs show different performance metrics [6]. - **Military Industry**: The Guotai CSI Military Industry ETF has a market value of 1.3688 billion yuan and a decline of 0.33%. Military - industry - related ETFs have different price changes and net subscriptions [6]. - **ESG**: The Yifangda CSI Shanghai Environmental Exchange Carbon Neutrality ETF has a market value of 96.5 million yuan and a decline of 0.41%. ESG - related ETFs show different performance characteristics [6]. - **Robot**: The Huaxia CSI Robot ETF has a market value of 2.2068 billion yuan and a decline of 3.25%. Robot - themed ETFs have different RSI values and trading volumes [6]. - **Central and State - owned Enterprises**: The Huitianfu CSI Shanghai State - owned Enterprises ETF has a market value of 796.5 million yuan and a decline of 0.10%. Central and state - owned - enterprise - related ETFs show different performance in the market [6]. - **Artificial Intelligence**: The Yifangda CSI Artificial Intelligence ETF has a market value of 2.421 billion yuan and a decline of 3.25%. AI - themed ETFs vary in net subscriptions and trading volumes [6]. - **Real Estate**: The Nanfang CSI All - Index Real Estate ETF has a market value of 686.9 million yuan and a gain of 0.19%. Real - estate - related ETFs show different price trends [6]. - **Biomedicine**: The Huabao CSI Medical ETF has a market value of 2.6023 billion yuan and a decline of 1.55%. Biomedicine - related ETFs have different performance metrics [6]. - **China Concept Internet**: The Yifangda CSI Overseas Internet ETF has a market value of 4.2085 billion yuan and a decline of 1.85%. China - concept - internet - related ETFs show different net subscriptions and trading volumes [6]. - **Resources**: The Nanfang CSI Shenwan Non - ferrous Metals ETF has a market value of 1.2669 billion yuan and a decline of 0.07%. Resource - related ETFs have different price changes and net subscriptions [6]. - **Consumption**: The Penghua CSI Wine ETF has a market value of 1.9911 billion yuan and a decline of 0.68%. Consumption - related ETFs show different performance in the market [6].

- The report tracks various types of ETFs on a daily basis, categorizing them into "broad-based" and "thematic" ETFs based on the indices they track, such as CSI 300, CSI 500, and industry/style indices like non-bank financials and dividends[2] - The RSI (Relative Strength Index) is calculated using the formula: $ RSI = 100 - 100 / (1 + RS) $, where RS is the average gain divided by the average loss over a 12-day period. RSI values above 70 indicate an overbought market, while values below 30 indicate an oversold market[2] - The net subscription amount is calculated using the formula: $ NETBUY(T) = NAV(T) - NAV(T-1) * (1 + R(T)) $, where NETBUY(T) is the net subscription amount, NAV(T-1) is the ETF's net asset value from the previous trading day, and R(T) is the return on the current day[2] Quantitative Models and Construction Methods 1. **Model Name: RSI (Relative Strength Index)** - **Construction Idea**: Measures the speed and change of price movements to identify overbought or oversold conditions - **Construction Process**: - Calculate the average gain and average loss over a 12-day period - Compute the RS (Relative Strength) as the ratio of average gain to average loss - Apply the formula: $ RSI = 100 - 100 / (1 + RS) $ - **Evaluation**: Useful for identifying potential reversal points in the market[2] 2. **Model Name: Net Subscription Amount** - **Construction Idea**: Measures the net inflow or outflow of funds into an ETF - **Construction Process**: - Calculate the net asset value (NAV) of the ETF for the current and previous trading days - Compute the return (R) for the current day - Apply the formula: $ NETBUY(T) = NAV(T) - NAV(T-1) * (1 + R(T)) $ - **Evaluation**: Indicates investor sentiment and fund flow dynamics[2] Model Backtesting Results 1. **RSI Model** - **Indicator Values**: - CSI 300 ETFs: RSI values range from 69.68 to 75.23 - CSI 500 ETFs: RSI values range from 74.47 to 75.37 - CSI 800 ETFs: RSI values range from 73.39 to 77.74 - CSI 1000 ETFs: RSI values range from 77.70 to 78.26 - CSI A50 ETFs: RSI values range from 65.77 to 67.30 - CSI A500 ETFs: RSI values range from 74.12 to 75.83 - STAR 50 ETFs: RSI values range from 75.53 to 77.78 - GEM ETFs: RSI values range from 76.39 to 77.42 - Hang Seng ETFs: RSI values range from 56.98 to 61.45 - Nikkei 225 ETFs: RSI values range from 72.84 to 72.88 - Nasdaq 100 ETFs: RSI values range from 65.70 to 68.11 - Other overseas broad-based indices: RSI values range from 33.64 to 60.46[4][6] 2. **Net Subscription Amount Model** - **Indicator Values**: - CSI 300 ETFs: Net subscription amounts range from -3.97 billion to 7.87 billion - CSI 500 ETFs: Net subscription amounts range from -0.08 billion to 4.57 billion - CSI 800 ETFs: Net subscription amounts range from -0.06 billion to 5.86 billion - CSI 1000 ETFs: Net subscription amounts range from 0.44 billion to 2.21 billion - CSI A50 ETFs: Net subscription amounts range from -0.89 billion to -0.08 billion - CSI A500 ETFs: Net subscription amounts range from -0.13 billion to 0.38 billion - STAR 50 ETFs: Net subscription amounts range from -5.00 billion to 0.02 billion - GEM ETFs: Net subscription amounts range from -0.86 billion to 5.64 billion - Hang Seng ETFs: Net subscription amounts range from -0.82 billion to 0.02 billion - Nikkei 225 ETFs: Net subscription amounts range from -0.21 billion to -0.06 billion - Nasdaq 100 ETFs: Net subscription amounts range from -1.34 billion to -0.47 billion - Other overseas broad-based indices: Net subscription amounts range from -0.28 billion to 0.89 billion[4][6]