在当前美联储货币政策持续宽松的背景下，强劲需求和有限供给有望持续支撑这一轮有色牛市，随着海 内外需求持续提振，2026年有色仍可重点关注铜铝等工业金属，强势行情有望延续。 工业有色ETF(560860)是市场上唯一跟踪中证工业有色金属主题指数的ETF产品，为投资者提供了布局 该领域的一站式高效解决方案。场外投资者可通过联接（A类：018489；C类：018490）布局顺周期与 政策红利共振机遇。 （基金有风险，投资须谨慎） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com 截至2026年1月12日收盘，国内铜、铝期货价格延续强势上涨态势，近一月涨幅均超10%。国际铜期货 同步走高，当地时间1月12日，伦敦金属交易所（LME）期铜上涨1.63%，收报每吨13,209.5美元，逼近 纪录高位，市场情绪受益于对最大消费国强劲需求的乐观预期，以及人工智能所需数据中心的拉动。 工业有色ETF（560860）紧密跟踪中 ...

值得注意的是，万家工业有色ETF（560860）跟踪的中证工业有色金属主题指数当前估值依旧处于历史 低位，截至12月22日，指数市盈率TTM为21.97倍，位于近十年37.25%估值分位数，具有较高安全边 际。场外投资者可通过联接基金（A类：018489；C类：018490）便捷参与。 每日经济新闻 万家工业有色ETF（560860）紧密跟踪中证工业有色金属主题指数，前三大行业铜（31.06%）、铝 （21.95%）和稀土（16.13%）合计占比近70%，在全市场已有ETF跟踪的有色金属指数中位居第一，市 场稀缺性与配置价值凸显。 在全球经济复苏预期与AI技术浪潮推动战略资源需求的双重驱动下，市场对工业金属的配置热情持续 高涨。Wind数据显示，万家工业有色ETF（560860）连续三个交易日获资金流入，近20日"吸金"11.47 亿元，近60日"吸金"达30.24亿元。截至12月22日，万家工业有色ETF（560860）最新份额为50.01亿 份，最新规模为75.41亿元，均创历史新高。 从最新公布的就业数据来看，2026年宏观环境有望延续"美财政货币双宽松"预期，预计美联储降息2~3 次，叠加财政刺激，全 ...

- The "CSI Industrial Nonferrous Metals Theme Index" (H11059.CSI) focuses on industrial nonferrous metals, selecting 30 large-cap securities involved in industries such as copper, aluminum, lead-zinc, and rare earth metals to reflect the overall performance of listed companies in this theme. The index uses adjusted free-float market capitalization weighting, with individual sample weights capped at 15%, and the top five samples collectively capped at 60%[24][25][26] - The index is rebalanced semi-annually, with sample adjustments implemented on the next trading day following the second Friday of June and December[25] - The index's top five constituent stocks account for 36.57% of the total weight, while the top ten account for 54.18%, with leading companies like Northern Rare Earth, China Molybdenum, and Aluminum Corporation of China having significant weightage. This concentration enhances the index's sensitivity to price cycles and supply-demand changes in key resources like rare earths, copper, and aluminum[28][29][30] - Compared to other nonferrous metal indices, such as the CSI SW Nonferrous Metals Index, the CSI Industrial Nonferrous Metals Theme Index has lower exposure to energy and precious metals, making it more focused on industrial metals closely tied to macroeconomic cycles. This characteristic provides higher elasticity during manufacturing recovery and economic rebound phases[30][33][34] - Over the backtesting period from January 1, 2021, to November 10, 2025, the index achieved an annualized return of 9.18%, outperforming broad-based indices like CSI 300, CSI 500, and ChiNext Index. However, it also exhibited higher annualized volatility (32.29%) and a maximum drawdown of -61%[35][39][40] - The index's valuation (PE_TTM) has shown a downward trend over the past five years, with a recent recovery driven by market sentiment and sector rebound. As of November 10, 2025, the index's PE ratio stood at 20.41x, at the 68.56th percentile of its five-year valuation range, indicating reasonable investment value amid improving industry fundamentals[41][43][44] - The index's profit scale has grown significantly, with total profits increasing from 46.139 billion yuan in 2020 to 168.052 billion yuan in 2022, representing a compound growth rate of over 90%. After a temporary decline in 2023, profits rebounded in 2024 with a 19.05% year-on-year growth, and further growth is expected in 2025 and 2026[45][47]