流动性方面，公司债ETF盘中换手3.38%，成交9.61亿元。拉长时间看，截至12月25日，公司债ETF近1 月日均成交23.04亿元。 规模方面，公司债ETF最新规模达284.41亿元，创近1年新高。（数据来源：Wind） 截至2025年12月26日 13:11，公司债ETF(511030)上涨0.01%， 冲击9连涨。最新价报106.78元。拉长时间 看，截至2025年12月25日，公司债ETF今年以来累计上涨1.59%。 回撤方面，截至2025年12月25日，公司债ETF近半年最大回撤0.28%，相对基准回撤0.04%。回撤后修复 天数为29天。 费率方面，公司债ETF管理费率为0.15%，托管费率为0.05%。 跟踪精度方面，截至2025年12月25日，公司债ETF近1月跟踪误差为0.008%。 公司债ETF紧密跟踪中债-中高等级公司债利差因子指数(总值)净价指数，为多角度反映人民币债券市场 的走势，该指数以主体和债项评级AAA的上交所公司债为基础，按照中债市场隐含评级分为三组并以 利差因子进行细分，可作为投资中高等级公司债的业绩比较基准和投资标的。中债-中高等级公司债利 差因子指数的财富指数代码为C ...

截至2025年12月22日 15:00，公司债ETF(511030)上涨0.02%， 实现5连涨。最新价报106.71元。拉长时间看，截至2025年12月22日，公司债ETF今年以来累计 上涨1.53%。 流动性方面，公司债ETF盘中换手5.25%，成交14.62亿元。拉长时间看，截至12月22日，公司债ETF近1周日均成交25.09亿元。 规模方面，公司债ETF最新规模达278.33亿元，创近1年新高。（数据来源：Wind） 信用债ETF日度跟踪显示总规模5351亿元，单日上升69.4亿元，其中基准做市ETF上升27.0亿元、科创债ETF上升63.3亿元；加权久期中位数3.4年。流动性： 整体成交金额1756亿元，平均单笔成交额596万元（基准做市148万元、科创债653万元）；换手率中位数29.2%。估值情况：收益率中位数1.92%，贴水率中 位数-17.5BP（基准做市-32.9BP、科创债-15.7BP）。 风险提示：基金有风险，投资需谨慎。基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证本基金一定盈利，也不保证最低收益。 基金管理人提醒投资人基金投资的"买者自负"原则，在做出投资 ...

Core Viewpoint - The company bond ETF (511030) shows a mixed market performance with a recent price of 106.59 yuan and a year-to-date increase of 1.41% as of December 1, 2025 [3] Market Performance - The company bond ETF has a trading volume of 9.22% during the day, with a total transaction value of 2.374 billion yuan [3] - The average daily trading volume over the past month is 2.201 billion yuan [3] - The latest fund size of the company bond ETF reaches 25.744 billion yuan, marking a one-year high [3] - The total number of shares for the company bond ETF is 242 million, also a six-month high [3] Fund Inflows - The company bond ETF has seen continuous net inflows over the past three days, with a maximum single-day net inflow of 24.5098 million yuan, totaling 54.3401 million yuan, resulting in an average daily net inflow of 18.1134 million yuan [3] Drawdown and Fees - The maximum drawdown for the company bond ETF over the past six months is 0.28%, with a relative benchmark drawdown of 0.04% [3] - The recovery period after the drawdown is 29 days [3] - The management fee for the company bond ETF is 0.15%, and the custody fee is 0.05% [3] Tracking Accuracy - As of December 1, 2025, the tracking error for the company bond ETF over the past month is 0.011% [4] - The ETF closely tracks the China Bond - Medium to High Grade Corporate Bond Spread Factor Index, which reflects the trends in the RMB bond market [4]

Group 1 - The company bond ETF (511030) is currently priced at 106.58 yuan, with a year-to-date increase of 1.40% as of November 28, 2025 [3] - The trading volume for the company bond ETF reached 20.65 billion yuan, with a turnover rate of 8.03%, and an average daily trading volume of 21.87 billion yuan over the past month [3] - The latest scale of the company bond ETF is 25.716 billion yuan, marking a one-year high, and the total shares have reached 241 million, also a six-month high [3] Group 2 - The company bond ETF has seen a net inflow of 21.3077 million yuan, with three out of the last five trading days showing net inflows totaling 112 million yuan, averaging 2.23829 million yuan per day [3] - The maximum drawdown for the company bond ETF in the past six months is 0.28%, with a relative benchmark drawdown of 0.04%, and a recovery period of 29 days [3] - The management fee for the company bond ETF is 0.15%, and the custody fee is 0.05% [3] Group 3 - The company bond ETF closely tracks the China Bond - Medium to High Grade Corporate Bond Spread Factor Index, which serves as a performance benchmark for medium to high-grade corporate bonds [4] - The index is based on AAA-rated corporate bonds from the Shanghai Stock Exchange and is adjusted quarterly [4]

Group 1 - The core viewpoint indicates a decline in exports by 0.8% year-on-year in October, with a significant drop in investment across infrastructure, real estate, and manufacturing sectors [1] - Retail sales growth slowed to 2.9%, reflecting a notable decrease in consumer spending [1] - The central bank's cautious approach to interest rate cuts is highlighted, with expectations for a potential reduction in policy rates by December 2024 [1] Group 2 - As of November 14, 2025, the company bond ETF (511030) increased by 0.03%, with a year-to-date cumulative rise of 1.44% [4] - The trading volume for the company bond ETF reached 23.78 billion yuan, with a turnover rate of 9.77% [4] - The latest scale of the company bond ETF hit 243.30 billion yuan, marking a one-year high [4] Group 3 - The company bond ETF has shown a net value increase of 13.53% over the past five years [5] - The highest monthly return since inception was 1.22%, with a historical profit probability of 100% over three years [5] - The management fee for the company bond ETF is set at 0.15%, while the custody fee is 0.05% [5] Group 4 - The company bond ETF closely tracks the China Bond - Medium to High Grade Corporate Bond Spread Factor Index, which serves as a benchmark for investment in medium to high-grade corporate bonds [6] - The index is based on AAA-rated corporate bonds and is adjusted quarterly [6]

Market Overview - The market experienced adjustments recently, with institutions noting that integer levels often provide support or resistance [1] - The 10-year treasury bond high in February-March was 1.9, and with a potential rate cut of 10 basis points in May, the current high for the 10-year treasury bond is estimated to be around 1.70-1.75 [1] Company Bond ETF Performance - The company bond ETF currently has a duration of 2 years and a static yield of 1.87%, with a year-to-date (YTD) return of 0.96%, ranking 30 out of 557 in the market [1] - As of July 23, 2025, the company bond ETF (511030) is trading at 106.13 yuan, with a 1-year cumulative increase of 1.96% [1] - The ETF has a trading volume of 4.98% and a transaction value of 1.106 billion yuan, with an average daily transaction of 2.203 billion yuan over the past month [1] Fund Flows and Leverage - The latest fund inflow and outflow for the company bond ETF are balanced, with a total of 23.6 million yuan "absorbed" over the last 10 trading days [1] - Leverage funds are actively positioning, with a net financing amount of 1.0072 million yuan this month and a latest financing balance of 21.6419 million yuan [1] Historical Performance Metrics - Over the past 5 years, the net value of the company bond ETF has increased by 13.61% [2] - The ETF has a maximum monthly return of 1.22% since inception, with the longest consecutive monthly gain being 9 months and a maximum gain of 3.80% [2] - The annual profit percentage stands at 83.33%, with a monthly profit probability of 79.77% and a 100% profit probability for a 3-year holding period [2] Risk and Return Analysis - The Sharpe ratio for the company bond ETF over the past 2 years is 1.02 [3] - The maximum drawdown this year is 0.50%, with a relative benchmark drawdown of 0.08% and a recovery period of 23 days [3] Fee Structure - The management fee for the company bond ETF is 0.15%, and the custody fee is 0.05% [4] Tracking Accuracy - The tracking error for the company bond ETF this year is 0.012% [5] - The ETF closely tracks the China Bond - Medium to High Grade Corporate Bond Spread Factor Index, which reflects the trends in the RMB bond market [5]