Core Viewpoint - The short-term bond market is expected to maintain a volatile pattern due to existing interest rate spreads and potential disruptions from internal competition, despite the recent tax regulation changes that may drive down rates for older bonds by 0-5 basis points [1] Group 1: Market Performance - As of August 4, 2025, the 5-10 year government bond ETF (511020) increased by 0.11%, with a latest price of 117.36 yuan [1] - Over the past week, the 5-10 year government bond ETF has accumulated a rise of 0.30% as of August 1, 2025 [1] - The latest scale of the 5-10 year government bond ETF reached 1.455 billion yuan [1] Group 2: Liquidity and Trading Activity - The trading volume for the 5-10 year government bond ETF was 427.18 million yuan, with a turnover rate of 0.29% [1] - The average daily trading volume over the past week was 1.558 billion yuan [1] - In the last five trading days, the fund experienced a net inflow of 17.55 million yuan [1] Group 3: Historical Performance - As of August 1, 2025, the net value of the 5-10 year government bond ETF has increased by 20.81% over the past five years [2] - The highest monthly return since inception was 2.58%, with the longest consecutive monthly gain being 10 months and a maximum increase of 5.81% [2] - The annual profit percentage stands at 100.00%, with a monthly profit probability of 72.15% [2] Group 4: Risk and Fees - The maximum drawdown for the 5-10 year government bond ETF this year was 2.15%, with a relative benchmark drawdown of 0.60% [3] - The management fee for the ETF is 0.15%, while the custody fee is 0.05% [4] Group 5: Tracking Accuracy - As of August 1, 2025, the tracking error for the 5-10 year government bond ETF over the past two months was 0.044% [5] - The ETF closely tracks the CSI 5-10 Year Government Bond Active Index, which includes bonds with maturities of 5, 7, and 10 years [5]