ETF Market Overview - As of March 23, 2026, the total number of ETFs in the market reached 2,310, with a total scale of 1,234.5 billion yuan and a weekly trading volume of 123.4 billion yuan. The number of newly added funds this week was 13 [1][3]. - Equity funds dominate the market, with thematic equity funds accounting for 30.6% of the total number, and their scale reaching 1,234.5 billion yuan, representing 60.1% of the total scale. Bond ETFs had the highest weekly trading volume, accounting for 25.3% [1][4]. Fund Inflow and Outflow - The inflow of funds last week was primarily concentrated in broad-based indices and bond ETFs, with the top inflow being the Short-term Bond ETF from Hai Fu Tong, which saw an inflow of 1.2 billion yuan. The latest scale of this fund is 12.3 billion yuan [5][6]. - In contrast, resource and chemical ETFs experienced significant outflows, with the chemical ETF seeing an outflow of 1.2 billion yuan, and the non-ferrous metal ETF experiencing an outflow of 1.1 billion yuan [7][8]. Industry Sector Fund Flow - Only the financial real estate and pharmaceutical sectors saw a slight net inflow of funds, with the financial real estate sector receiving 1.2 billion yuan and the pharmaceutical sector 0.3 billion yuan. Other sectors, including consumption and technology, experienced net outflows [13][14]. New ETF Listings - Last week, a total of 13 new ETFs were listed, all of which were equity funds covering various sectors, themes, and cross-border categories. The largest new listing was the Agricultural and Fishery ETF from Invesco, with a scale of 1.2 billion yuan [16][17]. Core Broad-based Index and ETF Performance - The performance of core broad-based indices showed significant divergence, with the ChiNext index rising against the trend, achieving a weekly return of 3.5%. In contrast, the CSI 300 index saw the largest weekly decline of 2.3% [18][19].

Group 1 - The latest dividend yield for the S&P A-share Dividend ETF is 4.85% [1] - The S&P A-share Dividend ETF has shown a one-year return of 18.31% and a year-to-date return of 1.09% [1] - The Shanghai Composite Index has increased by 25.28% over the past year [1] Group 2 - The latest dividend yield for the Hong Kong Stock Connect Low Volatility Dividend ETF is 5.51% [1] - The one-year return for the Hong Kong Stock Connect Low Volatility Dividend ETF is 11.94% [2] - The annualized volatility for the Hong Kong Stock Connect Low Volatility Dividend ETF is 23.21% [2] Group 3 - The A500 Low Volatility Dividend ETF has a one-year return of 3.85% and a year-to-date return of 0.15% [2] - The annualized volatility for the A500 Low Volatility Dividend ETF is 8.70% [2] - The index tracks the China A500 Low Volatility Dividend Index [2] Group 4 - The 800 Low Volatility Dividend ETF focuses on large and mid-cap stocks with a quarterly assessable dividend [2] - The one-year return for the 800 Low Volatility Dividend ETF is 8.58% [2] - The annualized volatility for the 800 Low Volatility Dividend ETF is -0.04% [2] Group 5 - The 300 Cash Flow ETF tracks the CSI 300 Free Cash Flow Index and has a one-year return of 9.83% [7] - The annualized volatility for the 300 Cash Flow ETF is 0.06% [7] - The index excludes financials and real estate, focusing on large-cap "cash cow" stocks [7]

Group 1 - The core investment strategy focuses on a balanced approach, utilizing low-valuation growth assets as offensive tools and dividend-paying assets as defensive shields to achieve moderate returns with low drawdowns [1][2] - The investment portfolio is characterized by a preference for stable business models with low PE ratios, which provide defensive capabilities during market downturns, while also allowing for offensive strategies during bullish phases [2][3] - Since the manager's tenure, the fund has achieved a cumulative return of 14.92%, significantly outperforming the benchmark and the CSI 300 index, while maintaining effective drawdown control during market corrections [3] Group 2 - The fund manager employs a diversified holding strategy, with 61 major stocks and the top ten holdings accounting for less than 30% of the total portfolio, allowing for greater flexibility in trading and risk management [4][5] - The investment approach emphasizes a "high sell, low buy" strategy based on reasonable valuation assumptions, aiming to minimize losses and maximize returns through disciplined trading [4][5] - The manager's focus is primarily on sectors such as chemicals, non-ferrous metals, light industry, textiles, consumer goods, and tourism, while maintaining a selective approach to technology stocks, only investing in those with strong performance backing [5][6]