Core Insights - The Hong Kong stock market is experiencing increased volatility due to the Federal Reserve's hawkish stance and investor concerns regarding AI trends, leading to a shift towards defensive dividend stocks [1] - The Hong Kong dividend sector has seen significant capital inflows, with a total net inflow of 28.7 billion yuan year-to-date and over 9.8 billion yuan in the past month, indicating strong market sentiment [1] - The dividend ETFs, specifically the Hong Kong Dividend ETF (513530) and the Hong Kong Low Volatility Dividend ETF (520890), have shown attractive dividend yields of 5.50% and 5.69%, respectively, significantly higher than the 1.81% yield of the 10-year government bond [1] Group 1 - The Hong Kong Dividend ETFs have demonstrated strong performance, with annual cumulative returns of 35.45% and 39.29%, outperforming several mainstream A-share and Hong Kong technology indices [1] - The Hong Kong Dividend ETF (513530) has seen continuous net inflows for 12 trading days, accumulating 454 million yuan, reaching a new high in fund size since August 2025 [2] - Analysts from Guotai Junan Securities suggest that the Hong Kong stock market has potential for upward movement, with foreign capital expected to return significantly next year, potentially exceeding 1.5 trillion yuan [3] Group 2 - The Hong Kong Dividend ETF (513530) is the first ETF in the A-share market to invest in the China Securities Hong Kong Stock Connect High Dividend Investment Index through the QDII model, which may enhance investor experience by reducing dividend tax costs [4] - The Hong Kong Low Volatility Dividend ETF (520890) allows investment in Hong Kong dividend assets without QDII quota restrictions, supporting T+0 trading [4] - The management company, Huatai-PB Fund, has over 18 years of experience in index investment and has developed a comprehensive range of dividend-themed ETFs, with a total management scale of 47.936 billion yuan as of November 2025 [6]

份额方面，30年国债ETF博时最新份额达1.75亿份，创近1月新高。 截至2025年11月17日 11:27，30年国债ETF博时(511130)上涨0.15%，最新价报107.98元。拉长时间看， 截至2025年11月14日，30年国债ETF博时近1月累计上涨1.48%。 流动性方面，30年国债ETF博时盘中换手9.64%，成交18.21亿元。拉长时间看，截至11月14日，30年国 债ETF博时近1月日均成交34.62亿元。 央行日前公告，为保持银行体系流动性充裕，11月17日将以固定数量、利率招标、多重价位中标方式开 展8000亿元买断式逆回购操作，期限为6个月（182天）。数据显示，11月有3000亿元6个月期买断式逆 回购到期。这意味着本月6个月期买断式逆回购加量续作5000亿元。此前，央行已于11月5日开展7000亿 元3个月期买断式逆回购，由于当月有同样规模3个月期买断式逆回购到期，因此月内为等量续作。 机构认为，年内来看，在短时间降息预期不强的情况下（根据浮息债与固息债的价格测算，当前市场对 于短期资金宽松和LPR下调均没有预期），长端国债利率和短端存单利率均很难有明显下行空间。年底 需要关注机 ...

分红情况具体详见基金分红公告，基金分红规则以基金法律文件为准，鉴于本基金的特点，本基金 分红不一定来自基金盈利，基金分红并不代表总投资的正回报。如提及个股仅供参考，不代表投资建 议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示未来表现。市场观点随市场环境变化而变 动，不构成任何投资建议或承诺。文中提及指数仅供参考，不构成任何投资建议，也不构成对基金业绩 的预测和保证。如需购买相关基金产品，请选择与风险等级相匹配的产品。基金有风险，投资需谨慎。 每日经济新闻 （责任编辑：董萍萍 ） 现金流ETF（159399）近10日净流入超1.4亿元。 国泰海通指出，富时中国A股自由现金流行业当前受益于中国"转型牛"的确定性趋势，包括转型节 奏加快、无风险收益下沉及资本市场改革。国内金融条件稳定，财政与货币具备宽松储备，稳定资本市 场对经济社会起到四两拨千斤的作用。分析师认为，中国社会和投资人对于发展逻辑坚实的优质资产需 求持续井喷，自由现金流充裕的优质企业将更受市场青睐。工业金属如铜等因建筑、电网与电动车需求 驱动，叠加AI算力扩张与电网现代化带来的结构性需求，开发成本提高或推高价格，相关行业现金流 状况可能改善。中 ...

以下文章来源于公募排排网 ，作者小满 公募排排网 . 看财经、查排名、买基金，就上公募排排网，申购费低至0.001折。 本文首发于公众号"公募排排网"。（点击↑↑上图查看详情） 导语 近年来A股市场跌宕起伏，从2022年的深度调整，到2023年的结构性行情，再到2024年以来的震荡回暖，获取持续超额收益的难度显著提升； 且每年A股市场所轮动的板块和题材都不尽相同，如2022年涨幅第一的是煤炭行业、2023年领涨的是通信行业以及2024年涨幅居前的是银行和 非银金融行业。 | स्टेसि | 上证指数 涨跌幅(%) | 深证成指 涨跌幅(%) | 创业板指 涨跌幅(%) | | 行业涨幅第1 行业涨幅第2 行业涨幅第3 | | | --- | --- | --- | --- | --- | --- | --- | | 2020 | 13.87 | 38.73 | 64.96 | 社会服务 | 电力设备 | 食品饮料 | | 2021 | 4.80 | 2.67 | 12.02 | 电力设备 | -- 有色金属 | 煤炭 | | 2022 | -15.13 | -25.85 | -29.37 | 煤炭 | 社会 ...

广发证券资深金工分析师 李豪 lhao@gf.com.cn 广发金工安宁宁陈原文团队 摘要 基于平均真实波幅的ETF网格交易策略： 广发证券首席金工分析师 安宁宁 anningning@gf.com.cn ETF网格交易策略组合： 基于加入择时信号之后的网格交易策略，我们以日度为频率筛选规模、流动性较为可观的ETF构建备选 池，并同样以日频为频率构建ETF网格交易策略组合。长期来看，ETF网格交易策略组合的走势呈现出 较为稳健的绝对收益特征。进一步地，我们设定不同备选池更新周期、ETF换仓周期以及权益配置比例 上限，测试了不同情况下ETF网格交易策略组合的表现。此外，我们基于相同方法，采用常见宽基指数 的对应ETF构建宽基指数ETF网格交易策略组合。历史上来看，该组合的走势同样呈现出较为稳健的绝 对收益特征。 本文中，我们尝试针对ETF构建网格交易策略组合。网格交易策略基于高抛低吸的核心思想，将价格波 动区间划分为多个网格，在价格下跌时买入，在价格上涨时卖出，从价格的波动之中获取利润。具体流 程上，我们从指数的平均真实波幅(ATR)出发，设定具体的网格策略参数；而后，我们基于ATR指标构 建单指数网格交易策略 ...

Group 1 - The core point of the news is the decline in the stock price of Ruoyuchen, which fell by 5.09% to 35.03 CNY per share, with a trading volume of 180 million CNY and a turnover rate of 2.23%, resulting in a total market capitalization of 10.896 billion CNY [1] - Ruoyuchen Technology Co., Ltd. is based in Guangzhou, China, and was established on May 10, 2011, with its listing date on September 25, 2020. The company specializes in online agency operations, channel distribution, and brand planning, offering services such as brand positioning, store operations, channel distribution, integrated marketing, data mining, and supply chain management [1] - The revenue composition of Ruoyuchen's main business includes 45.75% from proprietary brands, 28.83% from agency operations, and 25.42% from brand management [1] Group 2 - From the perspective of major fund holdings, only one fund under Taikang Fund has a significant position in Ruoyuchen. The Taikang New Return Flexible Allocation Mixed A Fund (001798) increased its holdings by 876 shares in the third quarter, holding a total of 94,800 shares, which accounts for 6.13% of the fund's net value, ranking as the eighth largest holding [2] - The Taikang New Return Flexible Allocation Mixed A Fund (001798) was established on September 23, 2015, with a latest scale of 58.1485 million CNY. Year-to-date returns are 17.53%, ranking 4777 out of 8213 in its category; the one-year return is 12.48%, ranking 5203 out of 8130; and since inception, the return is 66.96% [2]

南方中证1000ETF（512100）基金经理为崔蕾。 截至发稿，崔蕾累计任职时间7年12天，现任基金资产总规模1227.6亿元，任职期间最佳基金回报 181.49%， 任职期间最差基金回报-15.93%。 11月17日，天下秀涨5.52%，截至发稿，报7.46元/股，成交8.28亿元，换手率6.39%，总市值134.86亿 元。 资料显示，天下秀数字科技(集团)股份有限公司位于北京市朝阳区三里屯西五街5号院D座，成立日期 1993年11月28日，上市日期2001年8月7日，公司主营业务涉及向客户提供新媒体营销服务。主营业务收 入构成为：红人营销平台业务97.52%，红人经济生态链创新业务板块2.48%。 从天下秀十大流通股东角度 数据显示，南方基金旗下1只基金位居天下秀十大流通股东。南方中证1000ETF（512100）三季度减持 11.56万股，持有股数1156.35万股，占流通股的比例为0.64%。根据测算，今日浮盈赚取约450.98万元。 南方中证1000ETF（512100）成立日期2016年9月29日，最新规模766.3亿。今年以来收益27.45%，同类 排名1919/4216；近一年收益21.1 ...

| 基金募集申请获中国证监会 | 证监许可【2025】1679号 | | --- | --- | | 准予注册的文号 | | | 基金募集期间 | 自 2025年11月3日 至 2025年11月10日止 | | 验资机构名称 | 德勒华永会计师事务所(特殊普通合伙) | | 募集资金划入基金托管专户 | 2025年11月13日 | | 的日期 | | | 募集有效认购总户数(单位: | 9.440 | | 户) | | | 份额级别 | | 交银臻享多资产 三个月持有期混 | 交银镂享多份 产三个月持有 期混合(FOF) | 交银臻享多资产 三个月持有期混 | | --- | --- | --- | --- | --- | | | | 솜 (FOF) A | C | 合(FOF) 合计 | | 募集期间净认购金额(单位: 元) | | 1.575.080.440.09 | 792.162.503.60 | 2.367.242.943.69 | | 利息(单位:元) | 认购资金在募集期间产生的 | 94.327.56 | 41.733.72 | 136,061.28 | | 有效认购份额 | | 1.575. ...

Market Performance - The Shanghai Composite Index decreased by 0.18% last week, closing at 3990.49 points, with a high of 4034.08 points [1] - The Shenzhen Component Index fell by 1.4%, ending at 13216.03 points, with a peak of 13502.16 points [1] - The ChiNext Index dropped by 3.01%, closing at 3111.51 points, with a maximum of 3236.61 points [1] - In global markets, the Nasdaq Composite Index declined by 0.45%, while the Dow Jones Industrial Average rose by 0.34% and the S&P 500 increased by 0.08% [1] - In the Asia-Pacific region, the Hang Seng Index increased by 1.26% and the Nikkei 225 rose by 0.2% [1] ETF Market Performance - The median weekly return for stock ETFs was -1.05% [2] - The highest weekly return among scale index ETFs was 2.32% for the Yinhua CSI 2000 Enhanced Strategy ETF [2] - The highest weekly return among industry index ETFs was 3.9% for the CMB CSI Hong Kong-Shenzhen 500 Healthcare ETF [2] - The highest weekly return among strategy index ETFs was 2.55% for the Bosera CSI All-Share Free Cash Flow ETF [2] - The highest weekly return among theme index ETFs was 5.92% for the Huaxia CSI Tourism Theme ETF [2] ETF Liquidity - Average daily trading volume for stock ETFs decreased by 3.8%, while average daily trading volume increased by 24.1% [6] - The turnover rate decreased by 0.07% [6] ETF Fund Flows - The top five stock ETFs by fund inflow were: - Southern ChiNext AI ETF with an inflow of 899 million yuan - Huaxia SSE Sci-Tech 50 ETF with an inflow of 734 million yuan - Harvest SSE Sci-Tech Chip ETF with an inflow of 707 million yuan - Huatai-PB CSI 300 ETF with an inflow of 580 million yuan - E Fund ChiNext ETF with an inflow of 556 million yuan [9] - The top five stock ETFs by fund outflow were: - GF CSI A500 ETF with an outflow of 336 million yuan - Southern CSI 1000 ETF with an outflow of 324 million yuan - Harvest CSI A500 ETF with an outflow of 283 million yuan - Guotai CSI Coal ETF with an outflow of 199 million yuan - Hua Bao CSI Bank ETF with an outflow of 192 million yuan [10] ETF Financing and Margin Trading - The financing balance for stock ETFs decreased from 47.9148 billion yuan to 47.7222 billion yuan [11] - The highest financing buy amount was for E Fund ChiNext ETF, totaling 54.5 million yuan [11] ETF Market Size - The total market size for ETFs reached 572.9922 billion yuan, a decrease of 2.968 billion yuan from the previous week [14] - The stock ETF market size was 369.935 billion yuan, accounting for 64.6% of the total ETF market size [16] ETF Issuance and Establishment - No new ETFs were issued last week, but five new ETFs were established [17]

费率方面，黄金ETF华夏管理费率为0.15%，托管费率为0.05%，费率最低。 黄金ETF华夏(518850)，场外联接(华夏黄金ETF联接A：008701；华夏黄金ETF联接C：008702)。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 统计显示，黄金ETF华夏(518850)12天获得连续资金净流入，合计"吸金"5.95亿元。截至11月14日，黄金ETF华夏最新份额达9.86亿份，创成立以来新高。 截至11月14日，黄金ETF华夏近2年净值上涨99.30%。从收益能力看，截至2025年11月14日，黄金ETF华夏自成立以来，最高单月回报为11.49%，最长连涨 月数为6个月，最长连涨涨幅为16.34%，涨跌月数比为42/24，上涨月份平均收益率为3.37%，年盈利百分比为75.00%，月盈利概率为63.46%，历史持有3年 盈利概率为99.53%。 11月17日，三大指数集体回调，金价延续震荡， 黄金相关产品纷纷走低，截至10:34，黄金ETF华夏(518850)下跌1.79%，黄金股ETF(159562)跌1.96%，有色 金属ETF基金(516650)跌0.06%。 ...