（文章来源：第一财经） 今年以来，沪市ETF市场活力持续释放。资金净流入超4300亿元，境内占比超七成；市值规模增长1.3 万亿元，保险、银行理财、企业年金、社保基金等中长期资金对规模增量的贡献率超20%，资金主要流 向重要宽基ETF及科创板ETF。 ...

晕了晕了！前三季度超2000亿元资金借道ETF进场，但这只ETF竟被抛了500亿元 叶峰 2025年前三季度A股主要股指均呈上涨态势。创业板指、科创50指数领涨，累计涨幅均达51.2%，沪深300、上证指数、上证50指数累计涨幅均超10%。 ETF方面，今年前三季度，ETF份额增加3530.05亿份，达到30060.48亿份，总规模增加18963.19亿元，为56281.34亿元，股票型ETF和跨境型ETF合计净流入 资金逾2000亿元。 | 证券代码 | 基金简称 | 收盘价 （元) | 前 | | --- | --- | --- | --- | | 159792.SZ | 港股通互联网ETF | 1.07 | | | 510330.SH 沪深300ETF华夏 | | 4.811 | | | 512880.SH | 证券ETF | 1.263 | | | 159636.SZ | 港股通科技30ETF | 1.611 | | | 513090.SH | 香港证券ETF | 2.332 | | | 159570.SZ | 港股通创新药ETF | 1.96 | | | 513750.SH | 港股通非银ETF | ...

| 证券代码 证券简称 | 涨跌幅 | 基金份额变化 净流入额 | | 基金制 | | --- | --- | --- | --- | --- | | | (%) | (亿份) | (亿元) | (亿元 | | 511100.SH 华夏上证基准做市国债ETF | 0.08 | 0.10 | 10.60 | 6: | | 159792.SZ 富国中证港股通互联网ETF | -0.38 | 7.21 | 7.54 | 94 | | 515220.SH 国泰中证煤炭ETF | -0.91 | 3.72 | 4.06 | 10! | | 159530.SZ 易方达国证机器人产业ETF | 1.03 | 2.18 | 3.60 | 12: | | 551900.SH 招商中证AAA科技创新公司债ETF | -0.02 | 0.03 | 3.38 | 14 | | 159262.SZ 广发恒生港股通科技主题ETF | 1.05 | 2.61 | 3.25 | 4 | | 511120.SH 广发上证AAA科技创新公司债ETF | 0.01 | 0.03 | 2.50 | 7: | | 513010.SH 易方达恒生科技E ...

Market Overview - The A-share market experienced fluctuations last week, with the overall index declining by 0.18%. The ChiNext index led the gains, while the Shanghai Composite Index fell nearly 2% [1] - The market showed a rebound in the first half of the week, but most broad indices retreated on Thursday following the Federal Reserve's interest rate decision [1] Style and Sector Performance - Small-cap stocks outperformed, with the CSI 1000 index rising by 0.21%, compared to a decline of 0.44% for the CSI 300 index. Growth style stocks also performed well, increasing by 1.45% [2] - Among sectors, coal, electric equipment, and electronics saw the highest gains, while the financial sector faced significant declines, particularly in banking, non-ferrous metals, and non-bank financials [3] Trading Activity - Trading activity in the A-share market increased, with an average daily turnover of 25,178 billion yuan, up by 1,914.31 billion yuan from the previous week. On Thursday, turnover exceeded 30 trillion yuan [4] Fund Flows - Last week, the ETF market saw a net inflow of 178.3 billion yuan, with stock ETFs attracting 206.02 billion yuan. However, money market ETFs experienced a slight outflow of 2.57 billion yuan [5] - Notable net inflows were observed in sectors such as securities companies (100.36 billion yuan), Hong Kong Stock Connect internet (53.73 billion yuan), and robotics industry (40.92 billion yuan) [7] - Conversely, significant net outflows were recorded in the STAR 50 index (67.97 billion yuan) and CSI 300 index (34.52 billion yuan) [5][11] ETF Performance - The median weekly return for stock ETFs was 0.03%, with the ChiNext ETFs showing the highest median return of 2.35%. Technology ETFs also performed well, with a median return of 2.17% [14] - The semiconductor ETFs had strong performances, with several funds showing returns above 7% for the week [16] - On the downside, ETFs related to Hong Kong non-bank financials and industrial non-ferrous metals saw declines of 6.70% and 5.38%, respectively [18][20] Upcoming Developments - A second batch of 14 STAR bond ETFs is set to be launched on September 24 [23]

当日有23只风格策略ETF基金出现资金净流出，其中净流出排首位的是华夏创成长ETF（159967），份 额减少了1.12亿份，净流出额为6751.85万元。 9月19日风格策略ETF净流出前10 份额变化(亿份) 净流出额(亿元) -0.68 华夏创成长ETF -1.12 -0.36 国泰上证国有企业红利ETF - -0.38 -0.32 易方达中证红利ETF - -0.23 -0.22 广发上证科创板成长ETF - -0.12 -0.14 富国中证价值ETF - -0.13 -0.13 南方红利低波50ETF - -0.10 -0.11 博时国证大盘价值ETF - -0.10 -0.09 融通中证诚通央企红利ETF - -0.08 -0.04 长城中证红利低波100ETF - -0.04 -0.04 平安中证A500红利低波动ETF - -0.04 -1.2 -0.8 -0.6 -0.4 -0.2 0.0 -1.0 9月19日风格策略ETF 净流出前10明细表 | 代码 | 基金简称 | 涨跌幅 | 份额变化 | 最新份额 | 净流出额 | 最新规模 | | --- | --- | --- | --- | ...

金工量化周报 美国黄金 ETF 净流入超 10 亿美元 ——ETF 市场扫描与策略跟踪（2025.09.21） 核心结论 美国股票 ETF 市场资金流向：上周，美国市场安全主题 ETF 净流入居前， 多元科技主题 ETF 净流出居前；主动 ETF 中，以标普 500 指数为基准的 iShares A.I. Innovation and Tech Act ETF 净流入居前，以标普 500 指数为 基准的 ARK Innovation ETF 净流出居前；Smart Beta ETF 中，成长类 ETF 净流入居前；其他 ETF 中，跟踪标普 500 指数的 ETF 净流入居前，跟踪罗 素 2000 指数的 ETF 净流出居前；投资 A 股和港股的股票 ETF 合计净流入 2.51 亿美元。 商品市场资金流向：上周，内地黄金 ETF 净流出居前，合计净流出 4.22 亿 元；美国市场黄金 ETF 净流入居前，合计净流入 10.24 亿美元。 ETF 策略业绩表现：上周，扩散指标+RRG ETF 轮动策略收益率为-1.77%， 相对中信一级等权和沪深 300 指数的超额收益分别为-1.58%、-1.33%。50% ...

Summary of Key Points Core Viewpoint - On September 17, a total of 39.78 billion yuan net inflow was recorded for industry-themed ETF funds, with a cumulative net inflow of 124.46 billion yuan over the past five trading days, indicating strong investor interest in these funds [1]. Fund Inflows - A total of 123 industry-themed ETF funds experienced net inflows on September 17, with the leading fund being the Guotai CSI All-Share Securities Company ETF (512880), which saw an increase of 9.36 million shares and a net inflow of 11.88 billion yuan [1][3]. - Other notable funds with significant net inflows include: - Huabao CSI Financial Technology Theme ETF (159851) with a net inflow of 5.25 billion yuan [3]. - Huaxia CSI Robotics ETF (562500) with a net inflow of 5.01 billion yuan [3]. - Guotai Securities ETF (512000) with a net inflow of 3.59 billion yuan [3]. Fund Outflows - On the same day, 164 industry-themed ETF funds experienced net outflows, with the Guotai CSI Coal ETF (515220) leading the outflows, which saw a reduction of 4.21 million shares and a net outflow of 4.6 billion yuan [4][5]. - Other funds with significant net outflows include: - Huabao CSI Medical ETF (512170) with a net outflow of 1.50 billion yuan [5]. - Penghua CSI Sub-Segment Chemical Industry ETF (159870) with a net outflow of 1.49 billion yuan [5]. - Huatai-PineBridge CSI Rare Earth Industry ETF (516780) with a net outflow of 1.36 billion yuan [5].

摘要周四（9月11日）欧盘时段，现货黄金区间震荡，昨日黄金价格微幅收涨，仍立于5日均线上方，日 线RSI位于超买区附近，4小时整体仍维持上行格局，今日黄金价格跌破生命线3638，并处于此处的下 方，并将形态收口，宣告进入调整的状态，蓄势再为重启上涨提供动力。 周四（9月11日）欧盘时段，现货黄金区间震荡，昨日黄金价格微幅收涨，仍立于5日均线上方，日线 RSI位于超买区附近，4小时整体仍维持上行格局，今日黄金价格跌破生命线3638，并处于此处的下 方，并将形态收口，宣告进入调整的状态，蓄势再为重启上涨提供动力。 【要闻速递】 Lombard Odier表示，金价在2025年剩余时间内可能继续获得支撑。外汇策略师Kiran Kowshik和投资策 略主管Luca Bindelli在一份报告中指出，黄金创下历史新高的背景是市场风险加剧的叙事，包括通胀担 忧、政府债务攀升以及美国经济放缓。4月以来投机性仓位减少，加之在供应仍受限的情况下需求上 升，预计将进一步推高金价。 他们补充称，ETF的资金流向一直是黄金的重要影响因素，尤其是在亚洲。如果资金流动动能出现回升 迹象，金价可能进一步上涨。Lombard Odier将 ...

Group 1 - A-share ETF market experienced a net outflow of over 4.2 billion yuan on September 10, despite the overall market indices rebounding [1][3] - In the first eight trading days of September, the stock ETF market attracted over 10 billion yuan in net inflows [1] - The main drivers of inflows in September include ETFs tracking securities, chemicals, and Hong Kong internet indices [1][6] Group 2 - The Hong Kong market ETFs and commodity ETFs saw significant net inflows of 3.531 billion yuan and 1.243 billion yuan, respectively [5] - Major fund companies like E Fund and Huaxia Fund reported continued net inflows in their ETFs, with E Fund's total ETF scale reaching 759.97 billion yuan [5][6] - Specific ETFs such as the Hong Kong Securities ETF and the Battery 50 ETF received notable inflows, indicating strong investor interest [5][6] Group 3 - The performance of the securities sector is closely linked to market activity, with expectations of improved earnings due to increased trading volume [9] - The chemical sector, particularly agricultural chemicals and fine chemicals, is viewed positively by investment managers [9] - Recent trends show that ETFs tracking the CSI 300 index and other major indices faced significant outflows, indicating a shift in investor sentiment [10]

Summary of Key Points Core Viewpoint - On September 10, the industry-themed ETF funds experienced a net inflow of 1.12 billion yuan, with a cumulative net inflow of 16.857 billion yuan over the past five trading days, indicating strong investor interest in these funds [1]. Fund Inflows - A total of 132 industry-themed ETFs saw net inflows, with the top performer being the Yongying CSI Hong Kong and Shanghai Gold Industry Stock ETF (517520), which had an increase of 402 million shares and a net inflow of 747 million yuan [1][3]. - The latest scale of the Yongying ETF is 9.308 billion yuan, despite a decline of 1.69% in its price [3]. Fund Outflows - Conversely, 143 industry-themed ETFs experienced net outflows, with the leading outflow being from the Huatai-PineBridge CSI Photovoltaic Industry ETF (515790), which saw a reduction of 506 million shares and a net outflow of 441 million yuan [4][5]. - The latest scale of the Huatai ETF is 14.882 billion yuan, with a price drop of 1.80% [5]. Detailed Fund Performance - Other notable ETFs with significant net inflows include: - Penghua CSI Sub-Segment Chemical Industry ETF (159870) with a net inflow of 448 million yuan [3]. - Guotai CSI All-Index Securities Company ETF (512880) with a net inflow of 363 million yuan [3]. - ETFs with significant net outflows include: - E Fund CSI Artificial Intelligence Theme ETF (159810) with a net outflow of 344 million yuan [5]. - Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF (588200) with a net outflow of 341 million yuan [5].