Core Insights - Fixed income ETFs include bond ETFs and money market ETFs, providing investors with efficient trading and low fees [1][2] Group 1: Characteristics of Fixed Income ETFs - High trading efficiency: Fixed income ETFs allow same-day trading (T+0), enabling multiple buy and sell operations within a day, which is more efficient than traditional funds and stock ETFs [1] - Low fees: The average comprehensive fee for domestic bond ETFs is only 0.15%, while for money market ETFs it is 0.25%, significantly lower than the average fees for domestic bond funds, thus reducing holding costs and enhancing investment returns [1] - Prominent tool attributes: Fixed income ETFs enhance their utility in various financial operations [1] Group 2: Utilization in Financial Transactions - As collateral for repo transactions: Domestic government bond ETFs and policy financial bond ETFs are included in the exchange's collateral pool, allowing investors to use ETF shares for repo financing with high fund utilization rates [2] - Inclusion in margin trading: Investors can use borrowed funds to buy ETFs or sell borrowed ETFs, with proceeds from short selling being eligible for investment in bond ETFs and money market funds [2]

Group 1 - Fixed income ETFs consist of bond ETFs and money market ETFs, providing a seamless connection between money market funds and the secondary stock and ETF markets [1] - Bond ETFs can be subdivided into various types, including government bonds, local government bonds, policy financial bonds, and credit bonds, offering a rich array of fixed income investment tools for investors [1] - Fixed income ETFs exhibit high trading efficiency, allowing for same-day buy and sell transactions (T+0 trading), which supports multiple trading operations within a single day [1] Group 2 - The average comprehensive fee rate for domestic bond ETFs is only 0.15%, while for money market ETFs it is 0.25%, with no trading commissions charged in the market, highlighting a significant fee advantage over domestic bond funds [2] - The low fee structure of fixed income ETFs helps reduce the cost for holders and enhances investment returns [2] Group 3 - Fixed income ETFs enhance their tool attributes in several ways [3] - Domestic government bond ETFs and policy financial bond ETFs have been included in the exchange's pledge library, allowing investors to use ETF shares as collateral for repo financing, providing high capital utilization rates similar to interbank pledge rates [4] - Investors can engage in leveraged trading by borrowing funds to purchase ETFs or borrowing ETFs to sell, with proceeds from short selling available for investment in bond ETFs and money market funds [5]