Core Viewpoint - The trading activity of government bond ETFs has increased, indicating a potential initiation of a long-term bond market trend in Q4 2025 [1] Group 1: Trading Activity - The turnover rate of government bond ETFs has risen, suggesting more clients are opting to trade these instruments [1] - As of November 11, 2025, the turnover for the 5-10 year government bond ETF was 48.29%, with a transaction volume of 800 million yuan, reflecting active market participation [1] - The average daily transaction volume for the 5-10 year government bond ETF over the past week was 1.342 billion yuan [1] Group 2: Fund Performance - The latest size of the 5-10 year government bond ETF reached 1.656 billion yuan, marking a six-month high [2] - Over the past five trading days, the fund attracted a total inflow of 49.3255 million yuan [2] - The net value of the 5-10 year government bond ETF has increased by 21.81% over the past five years, ranking 30th out of 181 in the index bond fund category [2] Group 3: Return Metrics - Since its inception, the highest monthly return for the 5-10 year government bond ETF was 2.58%, with the longest consecutive monthly gain being 10 months [2] - The fund has a historical profit probability of 100% over three years, with a monthly profit probability of 71.01% [2] Group 4: Risk Metrics - As of November 11, 2025, the maximum drawdown for the 5-10 year government bond ETF over the past six months was 1.09%, compared to a benchmark drawdown of 0.46% [3] Group 5: Fee Structure - The management fee for the 5-10 year government bond ETF is 0.15%, while the custody fee is 0.05% [4] Group 6: Tracking Accuracy - The tracking error for the 5-10 year government bond ETF over the past month was 0.025%, closely following the index of active government bonds with maturities of 5, 7, and 10 years [5]