今天的A股，是不是让你真切体会到了什么叫冰火两重天？大家好，我是帮主郑重，一个做了20年财经 记者的中长线投资者。 咱们先看今天的盘面，三大指数涨跌不一，沪指低开高走，最终收涨0.41%，深成指微跌0.06%，创业 板指跌了1.04%，全天成交额2.5万亿出头，比上个交易日缩了500多亿，但是大家注意，全市场超3200 只个股是上涨的，这说明什么？说明今天根本不是赚指数的行情，是赚个股的结构性行情，只要你踩对 了方向，今天大概率是吃肉的，踩错了方向，可能就是赚了指数不赚钱，甚至还亏了钱。 还有最重要的一点，就是仓位控制，我跟了A股20年，见过太多人，因为满仓追涨杀跌，最后亏得一塌 糊涂。现在的行情，是典型的结构性分化行情，不是普涨普跌的牛市，所以下周，绝对不要满仓操作， 仓位控制在5到7成就足够了，进可攻退可守，剩下的仓位，留着应对回调的低吸机会，或者用来做T降 低成本，不要把所有的鸡蛋，都放在同一个篮子里，均衡配置，才能在震荡市里走得更稳。 今天领涨全场的，就是大家最近都在关注的稀土、小金属、稀有金属板块，章源钨业、云南锗业、翔鹭 钨业、北方稀土这些个股，好多都创出了历史新高，很多朋友问，为什么涨得这么凶？ ...

2025年，A股总市值站上100 万亿元的高峰，上证指数涨破4000点创下近十年新高。2026年A股市场又 将如何演绎？哪些行业将孕育新的投资机遇？ 搜狐财经《基金佳问》栏目特别推出"基遇2026"专题系列报道，复盘A股市场细分领域年内行情，关注 并展望2026年各热门赛道的投资机遇，把握后市资产配置的主逻辑，寻找具有投资潜力的基金产品。 近日，财通基金权益研究部负责人唐家伟，做客搜狐财经直播间，深入剖析了2026年周期赛道的投资逻 辑与机遇。 唐家伟直言，当前时点需高度重视周期板块，其核心驱动来自对2026年经济可能复苏向上的强烈预 期。"周期股的行情启动一般分为三阶段：交易复苏预期、交易业绩提升、行情尾声。目前，我们正处 在对边际变化最敏感的第一阶段。" 对于行情所处阶段，唐家伟给出了较为明确的判断："有色金属目前大概率已进入第二阶段，而化工等 行业还处在第一阶段。" 他特别强调，尽管有色金属价格受近期宏观事件影响出现短期调整，但中长期来看，行情仍具备中长期 韧性。以铜为例，"一方面，铜在关键领域难以替代；另一方面，其在许多终端产品成本中占比很低， 价格传导顺畅。如果供给无法快速释放，上涨趋势或能持续。" ...

出品｜搜狐财经 搜狐财经《基金佳问》栏目特别推出"基遇2026"专题系列报道，复盘A股市场细分领域年内行情，关注并展望2026年各热门赛道的投资机遇，把握后市资产 配置的主逻辑，寻找具有投资潜力的基金产品。 近日，财通基金权益研究部负责人唐家伟，做客搜狐财经直播间，深入剖析了2026年周期赛道的投资逻辑与机遇。 唐家伟直言，当前时点需高度重视周期板块，其核心驱动来自对2026年经济可能复苏向上的强烈预期。"周期股的行情启动一般分为三阶段：交易复苏预 期、交易业绩提升、行情尾声。目前，我们正处在对边际变化最敏感的第一阶段。" 对于行情所处阶段，唐家伟给出了较为明确的判断："有色金属目前大概率已进入第二阶段，而化工等行业还处在第一阶段。" 作者｜汪梦婷 编辑｜杨锦 更多访谈点击查看《基金佳问》专栏 2025年，A股总市值站上100 万亿元的高峰，上证指数涨破4000点创下近十年新高。2026年A股市场又将如何演绎？哪些行业将孕育新的投资机遇？ 他特别强调，尽管有色金属价格受近期宏观事件影响出现短期调整，但中长期来看，行情仍具备中长期韧性。以铜为例，"一方面，铜在关键领域难以替 代；另一方面，其在许多终端产品成本中 ...

Macro Strategy - The core viewpoint indicates that the overall CPI in the US for December 2025 met expectations, while the core CPI fell short, primarily due to short-term disturbances from used car price declines, price wars among telecom companies, and seasonal factors, which are not expected to have a lasting negative impact on inflation [1][8] - Looking ahead to Q1 2026, there is a risk of stronger-than-expected growth and inflation data in the US due to short-term fiscal and monetary easing, which could further compress the previously anticipated rate cuts in March and April [1][9] Fixed Income - Historical analysis from 2016-2018 shows that during that period, the sequence of interest rate changes was driven by policy tightening, leading to significant increases in short-term rates, followed by long-term rates due to economic resilience [2][10] - In contrast, the current environment sees long-term rates rising first due to economic recovery expectations, while short-term rates remain relatively stable under a backdrop of loose monetary policy, indicating that a repeat of the 2017 bear market is not guaranteed [2][11] - The report suggests that the yield curve is expected to steepen, and strategies to leverage could be employed to enhance returns, as the yield curve inversion between money market funds and bond funds is anticipated to improve [2][11] Industry Insights 富临精工 (Fulin Precision) - The company plans to issue 230 million shares at a price of 13.62 yuan per share, raising 3.175 billion yuan, with Ningde Times acquiring a 12% stake, which will strengthen the company's position as a leader in iron-lithium batteries and facilitate comprehensive strategic cooperation [3][12] - Profit forecasts for 2025-2027 have been revised upwards, with expected net profits of 5.4 billion, 20 billion, and 28 billion yuan, representing year-on-year growth of 37%, 273%, and 36% respectively, maintaining a "buy" rating [3][12] 容百科技 (Rongbai Technology) - The company anticipates a net profit of -1.9 to -1.5 billion yuan for 2025, with a projected recovery in Q4 leading to a net profit of 30 million yuan, and expects to achieve a sales volume of 12 million tons in 2026, reflecting a 25% year-on-year increase [4][13] - The company has signed a cooperation agreement with Ningde, ensuring a minimum annual purchase of 60% of its sodium battery cathodes, which is expected to lead to profitability in the sodium battery segment [4][13] 潮宏基 (Chao Hong Ji) - The company forecasts a net profit of 4.36 to 5.33 billion yuan for 2025, with significant growth driven by strategic focus and channel expansion, including a net increase of 163 stores in 2025 [6][14] - The brand's strategy of targeting young consumers with culturally relevant products has led to a strong market response, with a projected net profit of 6.5 billion yuan after excluding impairments [6][14] 东土科技 (Dongtu Technology) - The release of the "Industrial Internet and Artificial Intelligence Integration Empowerment Action Plan" is expected to benefit the company, which focuses on foundational technologies for industrial internet and aims to enhance its market position through policy alignment [7][15] - Profit forecasts for 2025-2027 are maintained at 0.86 billion, 1.52 billion, and 2.02 billion yuan, with a "buy" rating [7][15]

Group 1: Report Industry Investment Rating - Not provided in the given content Group 2: Core Viewpoints of the Report - The current bond market situation cannot simply be compared to the 2017 bear market as the interest rate change sequence is different. Currently, long - term interest rates rise first due to economic recovery expectations while short - term interest rates remain stable under the central bank's liquidity - maintaining policy [36]. - Systemic bear markets usually require the combination of rising short - term interest rates and tightened liquidity. Expectations alone can only lead to a phased rise in long - term interest rates but are insufficient to trigger a full - scale bear market [37]. - Given the current low short - term interest rates and the need for economic recovery, the yield inversion between money market funds and bond funds will improve. A steeper bond yield curve allows for leveraging strategies to obtain returns [37]. Group 3: Summary by Directory 1. Historical Review: Structural Anomalies from 2016 - 2018 1.1 Yield Trends - From 2016Q4, bond fund yields slowed significantly, and were outperformed by money market funds in many quarters. For example, in 2016Q4, the quarterly return of money market funds was 2.62%, while short - term pure bond funds had - 0.66% and medium - long - term pure bond funds had - 1.29%. Bond funds faced high capital costs and a flattened yield curve, resulting in large net value drawdowns [10]. 1.2 Key Policies and Major Events during the Period - In December 2016, the central bank included off - balance - sheet wealth management in the MPA's broad credit indicator, tightening non - bank institutions' funding sources. In March 2017, the CBRC launched the "Three Threes and Four Tens" special governance, shrinking bank inter - bank business and intensifying liquidity stratification. From 2016 - 2018, the central bank raised MLF and OMO rates multiple times, increasing financial institutions' capital costs. In April 2018, the asset management new regulations were officially implemented, promoting the institutionalization of de - leveraging [13]. 2. Cause Analysis 2.1 Policy Aspect: Central Bank's Open - Market Operation Interest Rate Adjustment - From 2016 - 2018, the central bank raised OMO and MLF rates, achieving a de facto interest rate hike. The 1 - year MLF rate rose from 3% in February 2016 to 3.3% in April 2018, indicating a tightening policy [16]. 2.2 Funding Aspect: Intensified Liquidity Stratification - Financial de - leveraging policies restricted inter - bank business, leading to severe liquidity stratification in the inter - bank market. The spread between R007 and DR007 widened from less than 20bp in the first three quarters of 2016 to a maximum of 71bp in March 2017, eroding bond funds' leverage arbitrage space [17][19]. 2.3 Fundamental Aspect: Strong Growth Supported Policy Implementation - In 2017, financial de - leveraging was an active policy choice during a period of strong economic fundamentals. China's GDP growth in 2017 was 6.9%, providing confidence for de - leveraging. The "high PPI, low CPI" inflation structure in 2017 created a good policy window [20][23]. 3. Relationship between Bond Yield Curve Shape and Bond Fund Yields - In 2017, the bond yield curve showed a two - stage V - shaped trend. From the end of 2016 to June 2017, it was bear - flattening due to tight funding. From July to December 2017, it was bear - deepening as strong economic fundamentals drove long - term interest rates up [25]. - The monthly returns of short - term and medium - long - term pure bond funds reflected the "first flat, then steep" change of the yield curve. From the end of 2016 to June 2017, short - term pure bond funds had lower returns, while from July to December 2017, medium - long - term pure bond funds suffered more capital losses [28]. - Bond funds' leverage ratios first decreased and then increased. In the first half of 2017, most funds reduced leverage. In the second half, short - term pure bond funds actively increased leverage as the yield curve steepened [30][32]. 4. How Did the Structural Anomaly Recover? 4.1 Policy Turnaround and Decline in Short - Term Interest Rates - In the second half of 2018, the policy shifted from de - leveraging to stabilizing growth. The central bank implemented multiple rounds of reserve requirement ratio cuts from 2018 to early 2019, releasing long - term low - cost liquidity and lowering short - term interest rates [33]. 4.2 Changes in Bond Yield Curve Shape - After the easing policy, short - term interest rates dropped rapidly, while long - term interest rates declined more slowly. The yield curve changed from bear - flat to bull - steep, reopening profit opportunities for bond funds' carry and duration strategies [34]. 5. Implications for the Current Market - The current situation is different from 2016 - 2018. The current long - term interest rate rise is driven by economic recovery expectations, and short - term interest rates are stable. The yield inversion between money and bond funds will improve, and leveraging strategies can be used [36][37].

Group 1 - Copper prices reached historical highs, with London copper up 0.4% at $11,925 per ton and Shanghai copper closing at 94,320 yuan per ton, an increase of 1.73% [1] - Copper is referred to as "Dr. Copper" due to its role as a leading indicator for global manufacturing and economic growth, reflecting the activity level of the real economy [1] - Historical data shows that copper prices often lead GDP and PMI indicators by 6-12 months, making it a reliable predictor of economic turning points [1] Group 2 - Ongoing supply shortages are supporting copper prices, with mining giant Glencore lowering its 2026 copper production forecast, highlighting a tight supply situation in the short to medium term [2] - The Chilean state-owned copper company has raised COMEX-LME copper premium quotes, causing a shift of global copper inventories towards the U.S., with COMEX inventories reaching a historical high of 450,000 tons, exacerbating shortages in non-U.S. regions [2] - The recent performance of the colored ETF (159980.SZ) shows a record scale of 3.682 billion yuan and 1.909 billion shares, with significant net inflows totaling 858 million yuan over the past 18 days [2]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - This week, the bond market showed a "V" - shaped trend under the influence of policy expectations and sentiment. The central economic work conference boosted the market's loose expectations, but the long - end interest rate decline may be restricted by the economic recovery expectation. The bond market is expected to have a short - term repair, and the mid - term trend depends on policy implementation [1][5]. - In November, various economic data improved marginally compared with the previous month. Low inflation leaves room for monetary policy, and the bond market benefits from loose expectations [4]. 3. Summary by Related Catalogs 3.1 Weekly Discussion: Has the Ultra - Long Bond Repair Market Ended? 3.1.1 Weekly Review - This week, the bond market's trend was dominated by policy expectations, showing a rise - then - fall pattern. The 30 - year treasury bond yield declined initially but rebounded sharply on Friday. Institutional behaviors were diverse, and market sentiment fluctuated rapidly between optimism and caution [11]. - Yields of different - maturity bonds showed mixed changes. Compared with the previous week, the yield of the 1 - year treasury bond active bond decreased slightly, while the 10 - year treasury bond active bond yield increased slightly [12]. 3.1.2 Trading Disk: Buying Power Rebounded under Policy Signal Stimulation - Driven by the loose policy expectations, institutional behaviors changed significantly. Large - scale banks increased their net purchases of interest - rate bonds, while rural commercial banks turned to net selling. Funds shifted from net selling to net buying, and wealth management products maintained a defensive stance [2][15]. 3.1.3 Impact of the Central Economic Work Conference on the Bond Market - The conference strengthened the loose expectations. The monetary policy may implement reserve requirement ratio cuts and interest rate cuts at the end of this year or in the first quarter of next year. The fiscal policy is expected to be relatively stable, and the bond supply pressure may be less than this year, which supports the bond market [3][22]. - In the short term, the loose expectations boost the bond market sentiment, and the ultra - long bonds start a weak repair market. In the medium term, if policies are implemented, the market interest rate will be pushed down, but the long - end interest rate decline may be restricted [5][24]. 3.1.4 November Import and Export Data Rebounded Significantly Year - on - Year due to the Base Effect - In November, foreign trade data showed that exports turned positive, and the trade surplus rebounded significantly. Exports to the EU and emerging markets increased, while the decline in exports to the US expanded. The recovery of foreign trade is affected by multiple factors, and the future may show a pattern of multi - market support and moderate recovery [25][28]. 3.1.5 November CPI Year - on - Year Recovery Accelerated - In November, inflation data showed that CPI increased year - on - year, food CPI turned positive, and PPI decreased slightly year - on - year but stabilized month - on - month. The low - inflation environment leaves room for monetary policy, and the bond market can benefit from loose expectations [29][34]. 3.1.6 Corporate Financing Demand Increased Marginally, while Household Financing Demand Remained Weak - In November, financial data showed that social financing increased significantly, and credit turned positive, but the structure was differentiated. Corporate medium - and long - term loans increased, while household loans remained weak. The future financial data may continue the trend of "total volume recovery and structural optimization" [35][37]. 3.1.7 Next Week and Future Outlook - Next week, there will be a large - scale OMO 7 - day reverse repurchase maturity, and the government bond net payment scale is not large. The inter - bank certificate of deposit maturity is over 1 trillion. The DR007 may rise slightly during the tax period, but overall, the funds are stable [38]. - In the short term, the loose expectations boost the bond market sentiment, and the ultra - long bonds start a repair market. In the medium term, if policies are implemented, the bond market will benefit, but the long - end interest rate decline may be restricted. The strategy suggests short - term bargain - hunting for ultra - long bonds and medium - and long - term "dumbbell - shaped allocation" [5][40]. 3.2 Weekly Tracking of Interest - Rate Bond Data 3.2.1 Weekly Liquidity Tracking - The data shows the central bank's open - market operations, including reverse repurchase, MLF, and other operations, as well as the trends of repurchase funds and inter - bank certificate of deposit issuance and maturity [42]. 3.2.2 Weekly Bond Valuation Tracking - The report provides the absolute interest rate levels, historical quantiles, interest rate changes, variety spreads, and term spreads of different - type bonds in the current week and the previous week [57][61][62]. 3.2.3 After - Tax Yield Atlas of Bonds Invested by Funds and Banks - Relevant charts show the after - tax yields of major bond types invested by funds and banks on December 6, 2025 [71][74]. 3.2.4 Weekly Tracking of Institutional Behaviors - The data shows the trading scale of different institutional investors in different types of bonds in different weeks, reflecting the changes in institutional behaviors [76].

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - For stock index futures, in the medium to long term, maintain the judgment of going long on the economy. Currently, using stock indices as a long - term substitute has certain excess returns, and it is recommended to allocate long - term contracts of various varieties on dips [2] - For treasury bond futures, in the short term, it is in a volatile state, and the valuation of interest - rate bonds has reached a reasonable level. In the medium to long term, with the upward risk preference and the expectation of economic recovery, it is recommended to hedge T and TL contracts on rallies [2] 3. Summary by Relevant Catalogs 3.1 Stock Index Futures - **Market Performance**: On December 1st, the four major A - share stock indices all rose. The Shanghai Composite Index rose 0.65%, the Shenzhen Component Index rose 1.25%, the ChiNext Index rose 1.31%, and the Sci - Tech Innovation 50 Index rose 0.72%. Market trading volume was 1889.4 billion yuan, an increase of 291.7 billion yuan from the previous day. In terms of industry sectors, non - ferrous metals (+2.85%), communications (+2.81%), and electronics (+1.58%) led the gains; agriculture, forestry, animal husbandry and fishery (-0.43%), environmental protection (-0.23%), and real estate (-0.06%) led the losses. From the perspective of market strength, IF>IC>IH>IM. The number of rising, flat, and falling stocks was 3396, 184, and 1868 respectively. In the Shanghai and Shenzhen stock markets, institutional, main, large - scale, and retail investors had net inflows of 4 billion, - 4.4 billion, - 1.5 billion, and 1.9 billion yuan respectively, with changes of - 5.2 billion, - 2 billion, + 6.5 billion, and + 0.7 billion yuan respectively [2] - **Basis and Annualized Yield**: The basis of the next - month contracts of IM, IC, IF, and IH were 171.28, 127.83, 35.49, and 14.08 points respectively, with annualized basis yields of - 17.57%, - 13.64%, - 5.87%, and - 3.56% respectively, and three - year historical quantiles of 10%, 10%, 19%, and 24% respectively [2] - **Trading Strategy**: In the medium to long term, maintain the judgment of going long on the economy. Currently, using stock indices as a long - term substitute has certain excess returns, and it is recommended to allocate long - term contracts of various varieties on dips [2] 3.2 Treasury Bond Futures - **Market Performance**: On December 1st, most interest - rate bonds rose. Among the active contracts, TS rose 0.03%, TF rose 0.1%, T rose 0.12%, and TL fell 0.08% [2] - **Cash Bonds**: The current active contracts and corresponding CTD bonds are as follows: for the 2 - year treasury bond futures, the CTD bond is 250017.IB, with a yield change of + 0bps, a corresponding net basis of - 0.049, and an IRR of 1.62%; for the 5 - year treasury bond futures, the CTD bond is 2500801.IB, with a yield change of - 0.75bps, a corresponding net basis of - 0.1, and an IRR of 1.8%; for the 10 - year treasury bond futures, the CTD bond is 250018.IB, with a yield change of - 0.85bps, a corresponding net basis of - 0.075, and an IRR of 1.71%; for the 30 - year treasury bond futures, the CTD bond is 210005.IB, with a yield change of - 0.5bps, a corresponding net basis of 0.078, and an IRR of 1.26% [2] - **Funding Situation**: In terms of open - market operations, the central bank's currency injection was 107.6 billion yuan, currency withdrawal was 338.7 billion yuan, and the net withdrawal was 231.1 billion yuan [2] - **Trading Strategy**: In the short term, it is in a volatile state, and the valuation of interest - rate bonds has reached a reasonable level. In the medium to long term, with the upward risk preference and the expectation of economic recovery, it is recommended to hedge T and TL contracts on rallies [2] 3.3 Economic Data - High - frequency data shows that this month's imports and exports and social activity sentiment are better than the same period, while the infrastructure sentiment is worse than the same period [10]

Report Information - Report Date: December 1, 2025 [1] - Report Company: China Merchants Futures Co., Ltd. [1] - Report Type: Financial Futures Morning Report [1] Market Performance A-share Market - On November 28, the four major A-share stock indexes rose across the board, with the Shanghai Composite Index up 0.34%, closing at 3,888.6 points; the Shenzhen Component Index up 0.85%, closing at 12,984.08 points; the ChiNext Index up 0.7%, closing at 3,052.59 points; and the Science and Technology Innovation 50 Index up 1.25%, closing at 1,327.15 points [2]. - Market turnover was 1.5977 trillion yuan, a decrease of 125.4 billion yuan from the previous day [2]. - In terms of industry sectors, steel (+1.59%), agriculture, forestry, animal husbandry and fishery (+1.59%), and commerce and retail (+1.46%) led the gains; banks (-0.83%), coal (-0.14%), and beauty care (+0.07%) led the losses [2]. - In terms of market strength, IC > IM > IF > IH, and the number of stocks rising/flat/falling were 4,122/139/1,187 respectively [2]. - In the Shanghai and Shenzhen stock markets, institutional, main, large - scale, and retail investors had net inflows of 9.2 billion, - 2.4 billion, - 8 billion, and 1.2 billion yuan respectively, with changes of +17.3 billion, +8.1 billion, - 8.3 billion, and - 17.1 billion yuan respectively [2]. Interest Rate Bond Market - On November 28, interest rate bonds showed mixed performance. Among the active contracts, TS fell 0.02%, TF fell 0.03%, T rose 0.03%, and TL rose 0.05% [3]. Futures Market Stock Index Futures - Basis: The basis of the next - month contracts of IM, IC, IF, and IH were 148.61, 113.55, 36.06, and 10.22 points respectively, with annualized basis yields of - 14.9%, - 11.87%, - 5.86%, and - 2.53% respectively, and three - year historical quantiles of 16%, 14%, 19%, and 26% respectively [3]. - Trading Strategy: In the medium - to - long term, maintain the judgment of going long on the economy. Currently, using stock index as a long - position substitute has certain excess returns. It is recommended to allocate long - term contracts of each variety on dips [3]. Treasury Bond Futures - Cash Bonds: The current active contract is the 2603 contract. The CTD bonds, yield changes, corresponding net basis, and IRR of 2 - year, 5 - year, 10 - year, and 30 - year treasury bond futures are as follows: for 2 - year, the CTD bond is 250017.IB, yield change is - 1.25bps, net basis is - 0.012, IRR is 1.51%; for 5 - year, the CTD bond is 2500801.IB, yield change is + 0.75bps, net basis is - 0.041, IRR is 1.6%; for 10 - year, the CTD bond is 250018.IB, yield change is - 0.9bps, net basis is - 0.03, IRR is 1.57%; for 30 - year, the CTD bond is 210005.IB, yield change is + 0bps, net basis is - 0.176, IRR is 1.93% [4]. - Funding Situation: In open - market operations, the central bank injected 301.3 billion yuan and withdrew 375 billion yuan, resulting in a net withdrawal of 73.7 billion yuan [4]. - Trading Strategy: In the short term, it is volatile, and the valuation of interest rate bonds has reached a reasonable level; in the medium - to - long term, with the increase in risk appetite and the expectation of economic recovery, it is recommended to hedge T and TL on rallies [4]. Economic Data - High - frequency data shows that this month's imports and exports and social activity sentiment are better than the same period, while infrastructure sentiment is worse than the same period [12]

Group 1 - The core viewpoint of the article highlights the strong performance of value stocks, with the Guozheng Value 100 Index rising by 1.3% and over 10% since October, while the Guozheng Free Cash Flow Index increased by 1.1%, achieving four consecutive days of gains [1] - The recent rise in value stocks is attributed not only to a "high-cut-low" market trend but also to expectations of economic recovery and the resonance of dividend premiums [1] - The current non-manufacturing PMI in China has crossed the threshold, indicating potential benefits for traditional value sectors such as home appliances and banking due to recovering demand [1] Group 2 - The Guozheng Value 100 Index employs a three-dimensional screening system based on "high dividends + high free cash flow + low price-to-earnings ratio" to select value stocks, demonstrating stable historical performance [1] - The Guozheng Free Cash Flow Index selects assets based on free cash flow rates, focusing on cash-rich value assets, with the top three weighted industries being non-ferrous metals, automotive, and oil and petrochemicals [1] - The Value ETF (159263) and the E Fund Free Cash Flow ETF (159222) track the aforementioned indices, providing investors with convenient tools to invest in undervalued quality assets and capitalize on style-switching opportunities [1]