Core Viewpoint - The A-share market has entered a new round of structural trends in 2026, with sectors like commercial aerospace, new energy, and artificial intelligence (AI) applications showing strong performance, leading to a significant increase in the issuance of thematic ETFs and their net asset values [1] Group 1: Thematic ETF Performance - The Satellite ETF managed by Yongying Fund has achieved a return of 17.92% year-to-date and a 99.10% increase over the past six months, with its scale rising from 2.4 billion to 17 billion yuan, making it the first satellite-themed ETF to exceed 10 billion yuan in size [1] - The Huaan Gold ETF has surpassed 100 billion yuan in scale, becoming the first gold ETF in China to enter the "billion club" due to rising gold and silver prices [1] Group 2: Fund Company Activities - Multiple fund companies are actively launching thematic ETFs focused on "pan-technology + high-end manufacturing," targeting investment directions such as electric utilities, sub-sectors of the Sci-Tech Innovation Board, and battery themes that are not yet overcrowded [2] - The Invesco Great Wall Fund's electric utility ETF raised 1.667 billion yuan in just 7 days, indicating strong investor interest in the electric sector [2] - The Tianhong Fund's chip design thematic ETF raised 607 million yuan in 8 days, while the Southern Fund's AI ETF raised 514 million yuan in only 6 days [2] Group 3: New Energy and Resource ETFs - In the new energy sector, battery-themed ETFs are experiencing "same-topic competition," with the Dacheng Fund's battery ETF raising 442 million yuan in just 4 days, the shortest subscription period in the market [4] - Several fund companies have reported new ETFs focused on industrial metals, indicating a strong interest in upstream resource sectors [4] Group 4: ETF Issuance Trends - The number of new ETFs issued has surged from 281 in 2021 to 363 in 2025, with technology, new energy, and pharmaceutical thematic ETFs showing remarkable performance [5] - The Huaxia Hang Seng Internet Technology ETF's shares have increased from 7.555 billion at issuance to 66.869 billion, an expansion of nearly 8 times [5] - However, there is a notable trend of divergence within thematic ETFs, with some products experiencing a rapid decline in scale, highlighting the importance of long-term sector attractiveness and product differentiation [5] Group 5: Market Outlook - Analysts suggest that the recent surge in thematic ETF issuance is closely linked to the structural trends in the A-share market in 2026, with institutional investors quickly positioning themselves in popular sectors [6] - If the related industries maintain their growth, these ETFs may become a significant direction for capital inflow, but fund companies must focus on lifecycle management and market demand to avoid resource wastage [6]

Group 1 - The A-share market has entered a new round of structural trends in 2026, with sectors like commercial aerospace, new energy, and artificial intelligence (AI) applications showing strong performance, leading to a significant increase in the issuance of thematic ETFs [1][3] - The Satellite ETF from Yongying Fund has achieved a return of 17.92% year-to-date and a 99.10% increase over the past six months, with its scale rising from 2.4 billion to 17 billion, becoming the first thematic ETF in the market to exceed 10 billion [1] - The gold and silver prices have been rising, leading to increased interest in precious metal thematic ETFs, with the Huaan Gold ETF surpassing 100 billion, becoming the first gold ETF in China to enter the "100 billion club" [1] Group 2 - Recent thematic ETF issuance shows strong interest in the electric utility sector, with the Invesco Great Wall Fund's electric utility ETF raising 1.667 billion in just 7 days, indicating investor preference for this sector [2] - The semiconductor and AI sectors have also seen significant fundraising, with Tianhong Fund's semiconductor ETF raising 607 million and Southern Fund's AI ETF raising 514 million within short subscription periods [2] - The battery thematic ETF has experienced intense competition, with Dachen Fund's ETF raising 442 million in just 4 days, the shortest in the market, while Southern Fund's similar product raised 322 million [2] Group 3 - The recent surge in thematic ETF issuance is closely linked to the structural trends in the A-share market in 2026, with institutional investors rapidly deploying capital into popular sectors through these products [3] - Over the past five years, the number of new ETFs has increased significantly, from 281 in 2021 to 363 in 2025, with technology, new energy, and healthcare thematic ETFs showing remarkable performance [3] - The AI thematic ETF has seen explosive growth, with the Guangfa Shanghai Stock Exchange AI ETF's issuance increasing from 326 million to 3.476 billion [3] Group 4 - There is a noticeable trend of differentiation within thematic ETFs, with some products experiencing rapid shrinkage in scale post-issuance, particularly in sectors like consumer leaders and biotechnology, where some products have seen reductions exceeding 96% [4] - The ability of thematic ETFs to attract and retain capital depends on the long-term viability of the sector, product differentiation, and market conditions [4] - Fund companies need to focus on the sustainability and market demand alignment of their products while expanding into new sectors [4]

人民财讯1月13日电，1月13日晚间证监会官网信息显示，工银瑞信基金上报中证有色金属矿业主题 ETF。包括工银瑞信基金在内，2026年以来已有7家基金公司申报有色主题指数基金。其中，华泰柏瑞 基金和华夏基金申报的是中证工业有色金属主题ETF，易方达基金申报的是中证细分有色金属产业 ETF。 ...

在近期有色板块行情持续活跃的背景下，公募行业显著加大了对这一方向的布局力度。 Wind数据显示，2025年12月以来，截至2026年1月9日，已有华泰柏瑞基金、华夏基金、平安基金、永赢基金、富国基金、博时基金、鹏华基金、天弘基金 上报中证工业有色金属主题ETF，此外，广发基金、华安基金、泰康基金、景顺长城基金上报了中证有色金属矿业主题ETF，易方达基金上报了中证细分有 色金属产业主题ETF。值得注意的是，2025年12月上报的部分产品已经迅速获批。 截至1月9日，上述ETF跟踪的工业有色、有色矿业、细分有色指数近6个月的涨幅分别高达93.73%、88.52%、82.50%。 | » 关于华泰柏瑞基金管理有限公司的《公开募集基金募集申请注册 -华泰柏瑞中证工业有色金属主题交易 . . . | 2026-01-09 | | | --- | --- | --- | | » 关于易方达基金管理有限公司的《公开募集基金募集申请注册 -易方达中证细分有色金属产业主题交易 . . . | 2026-01-08 | 1 | | » 关于广发基金管理有限公司的《公开募集基金募集申请注册-广发中证有色金属矿业主题交易型开放式 . ...

Report Industry Investment Rating - Not provided in the content Core Viewpoints - Not provided in the content Summary by Relevant Catalogs 1. Last Week's Market Review Related Hotspot Review - Last week, 61 funds were reported, an increase from the previous week. The reported products included 1 REITs, 2 QDIIs, 5 FOFs, and several theme ETFs such as those for non-ferrous metal mining, industrial non-ferrous metals, engineering machinery, and all - index public utilities [1][9]. - On December 11, 2025, the scale of Huatai - Bairui CSI A500 ETF reached 307.4 billion yuan, becoming the first CSI A500 ETF to exceed 30 billion yuan. By December 12, its scale further increased to 32.525 billion yuan, an 86% increase from the end of 2024 [2][10]. - On December 9, 2025, the Hong Kong Exchanges and Clearing Limited launched its first Hong Kong stock index, the Hong Kong Exchanges Technology 100 Index, which aims to reflect the performance of the 100 largest - market - cap Hong Kong - listed companies highly relevant to the technology sector and eligible for the Hong Kong - Stock Connect [11][14]. - On December 11, 2025, the "White Paper on the Development of Fund Investment Advisory Business in 2025" was released in Shanghai. After this cycle, more investors realized that investment experience and final returns are equally important, and over 90% of customers preferred multi - asset allocation as a future investment strategy. Fund investment advisory users showed healthier investment behaviors and better long - term investment experiences [15]. Stock Market - Last week, the performance of major broad - based indices in the A - share market was divergent. The ChiNext Index, STAR 50, and CSI 500 had the highest returns of 2.74%, 1.72%, and 1.01% respectively, while the Shanghai Composite Index, CSI 300, and CSI 1000 had lower returns of - 0.34%, - 0.08%, and 0.39% respectively. The ChiNext Index had the highest cumulative return of 49.16% since the beginning of the year [1][18]. - The trading volume of major broad - based indices increased last week. On a monthly basis, except for the ChiNext Index, the average daily trading volume of major broad - based indices decreased in the past month [18][20]. - In terms of industries, last week, the communication, national defense and military industry, and electronics sectors had the highest returns of 5.92%, 3.57%, and 2.51% respectively, while the coal, petroleum and petrochemical, and textile and clothing sectors had the lowest returns of - 3.80%, - 3.43%, and - 2.68% respectively [1][24]. Bond Market - As of last Friday, the central bank's net reverse - repurchase injection was 4.7 billion yuan, with 663.8 billion yuan of reverse - repurchases maturing and a net open - market injection of 668.5 billion yuan. The 1M pledged - repo rate increased by 6.70BP, and the 1W SHIBOR increased by 3.50BP compared to the previous week [28]. - Bond yields of different maturities declined, and the yield spread widened by 0.53BP. Credit bond yields of different maturities and ratings also declined. Except for the 3 - year and 5 - year maturities, credit spreads of different maturities and ratings increased [29][32]. Convertible Bond Market - Last week, the CSI Convertible Bond Index rose 1.05%, with a cumulative trading volume of 285.7 billion yuan, an increase of 31.1 billion yuan from the previous week. As of last Friday, the median conversion premium rate was 31.58%, up 1.05% from the previous week, and the median pure - bond premium rate was 23.40%, down 0.98% from the previous week [33]. 2. Open - ended Public Offering Fund Performance Ordinary Public Offering Funds - Last week, the returns of active equity, flexible allocation, and balanced hybrid funds were 0.19%, 0.20%, and 0.33% respectively. This year, alternative funds had the best performance, with a median return of 51.31%, while the median returns of active equity, flexible allocation, and balanced hybrid funds were 28.02%, 21.10%, and 14.42% respectively [2][35]. Quantitative Public Offering Funds - Last week, the median excess return of index - enhanced funds was - 0.05%, and the median return of quantitative hedging funds was 0.08%. This year, the median excess return of index - enhanced funds was 4.50%, and the median return of quantitative hedging funds was 0.99% [2][37]. FOF Funds - As of last weekend, there were 273 ordinary FOF funds, 116 target - date funds, and 152 target - risk funds in open - ended public offering funds. Four new FOF funds were established last week. Generally, target - date funds had a higher equity position, mainly in the 50% - 65% range. Most target - risk funds had an equity position below 50%, and ordinary FOF funds' equity positions were mainly below 25% and in the 65% - 100% range. Last week, the median returns of ordinary FOF, target - date, and target - risk funds were - 0.03%, 0.05%, and - 0.01% respectively. This year, target - date funds had the best performance, with a cumulative return of 16.57% [20][40]. 3. Fund Manager Changes - Last week, the fund managers of 83 fund products from 41 fund companies changed, including 9 products from E Fund, 5 from Chuangjin Hexin Fund, and 4 from Baoying Fund [44]. 4. Fund Product Issuance Situation Newly Established Funds Last Week - Last week, 28 new funds were established, with a total issuance scale of 18.218 billion yuan, a decrease from the previous week. Among them, equity funds issued 6.69 billion yuan, hybrid funds issued 4.26 billion yuan, and bond funds issued 7.269 billion yuan. There were no new issuances of alternative and money market funds [3][46]. Funds Launched for the First Time Last Week - Last week, 38 funds entered the issuance stage for the first time. Among them, the China AMC Hong Kong Stock Select Fund, Xinyuan Xinxuan Yingtai Progressive Allocation 3 - month Holding A, and Hongyi Yuanfang Beijing Stock Exchange 50 Component Index A had completed issuance and were established [50]. Funds to be Issued This Week - This week, 19 funds will enter the issuance stage, including 7 equity - biased hybrid funds, 6 passive index funds, and 2 enhanced index funds [52].