截至2025年7月29日 14:19，信用债ETF博时(159396)下跌0.18%，最新报价100.75元。 流动性方面，信用债ETF博时盘中换手19.92%，成交24.04亿元，市场交投活跃。拉长时间看，截至7月 28日，信用债ETF博时近1月日均成交46.04亿元，排名可比基金第一。 华创证券发布研报称，经济基本面暂未出现趋势性反转信号，央行态度仍偏呵护，债市无趋势调整风 险。但短期债市仍处逆风状态，市场风险偏好提振、稳增长政策预期等或仍对债市形成扰动。对于为博 弈资本利得而持有的品种，例如长久期信用债、银行二永债等，建议寻找机会兑现收益，以防后续赎回 潮演绎。对于票息配置品种或不用过度担忧，建议持有观察，多看少动。经过上周调整后，3年期以内 信用债品种初具一定配置性价比。 规模方面，信用债ETF博时最新规模达120.94亿元。 资金流入方面，信用债ETF博时最新资金流入流出持平。拉长时间看，近21个交易日内，合计"吸 金"4.44亿元。 数据显示，杠杆资金持续布局中。信用债ETF博时前一交易日融资净买额达1016.58万元，最新融资余 额达1380.80万元。 截至7月28日，信用债ETF博时近6月净 ...

Core Viewpoint - The article emphasizes the rapid development and approval of the Sci-Tech Bond ETF by Bosera Fund, aligning with national policies to enhance financing channels for technology innovation companies [1][3]. Group 1: Policy and Market Response - On June 18, the Lujiazui Forum signaled a strong policy direction to develop Sci-Tech bonds, prompting Bosera Fund to quickly respond by submitting the Sci-Tech Bond ETF application [1]. - The approval of the Sci-Tech Bond ETF within two weeks highlights the government's targeted guidance for technology finance and fills a gap in the bond ETF market focused on "hard technology" [3]. Group 2: Product and Index Overview - The Bosera CSI AAA Technology Innovation Company Bond ETF tracks the CSI AAA Technology Innovation Company Bond Index, which includes 646 constituent bonds with a total market value of 903.1 billion yuan, primarily from central and state-owned enterprises [3]. - The index focuses on financing in technology sectors such as semiconductors and new energy, linking bond investments with the development of new productive forces [3]. Group 3: Fund Performance and Strategy - Bosera Fund has established a comprehensive bond ETF product system, including five bond ETFs, with a total of 11 bond index products, providing a panoramic investment tool for investors [4]. - The fund's credit bond ETFs have collectively generated over 4.5 billion yuan in profits last year, reflecting the company's commitment to professional investment management and quality product service [4]. Group 4: Contribution to Technology Finance - The article outlines Bosera Fund's ongoing efforts in the Sci-Tech sector since 2021, launching multiple ETFs focused on various technology themes, including AI and semiconductors, to enhance the financing ecosystem for hard technology companies [7]. - Bosera Fund's extensive portfolio includes over 60 technology-themed active and passive index funds, with a total scale exceeding 50 billion yuan, positioning the company as a key player in supporting China's technological rise [7].

Core Insights - On June 4, 2025, a total of 295 ETF funds experienced net buying from major funds, while 181 ETF funds faced net selling [1] - The top five ETFs with net buying exceeding 100 million yuan included Credit Bond ETF Bosera, Credit Bond ETF, 5-Year Local Government Bond ETF, National Debt ETF, and Corporate Bond ETF E Fund, with net purchases of 2.003 billion yuan, 1.927 billion yuan, 1.566 billion yuan, 1.342 billion yuan, and 649 million yuan respectively [1][3] - Among stock ETFs, 71 funds saw net buying over 10 million yuan, with the A500 Index ETF, Hong Kong Securities ETF, Securities ETF, Sci-Tech Innovation 50 ETF, and Hong Kong Stock Connect Innovative Drug ETF leading with net purchases of 419 million yuan, 316 million yuan, 198 million yuan, 190 million yuan, and 164 million yuan respectively [3][5] Net Buying and Selling Trends - A total of 197 ETFs have seen continuous net buying recently, with the top performers being Hong Kong Non-Bank ETF (13 days), Entrepreneurial Large Cap ETF (12 days), and others [9][11] - The Credit Bond ETF has received significant net buying, totaling 7.650 billion yuan over the past five days, indicating strong interest from major funds [16][18] - Conversely, 53 ETFs experienced net selling exceeding 10 million yuan, with Silver Hua Daily ETF, Huabao Tianyi ETF, and others leading in net selling amounts [5][7] Recent Performance - Over the past five days, 65 ETFs have accumulated net buying exceeding 100 million yuan, with the Credit Bond ETF leading at 7.649 billion yuan [18] - In the same period, 9 ETFs faced net selling over 100 million yuan, with Silver Hua Daily ETF leading at 4.028 billion yuan [20][22] - Continuous net selling has been observed in 76 ETFs, with the Red Dividend Low Volatility 50 ETF leading at 3.692 billion yuan over 14 days [15][16]

截至2025年5月29日 13:18，信用债ETF博时(159396)多空胶着，最新报价100.69元。流动性方面，信用债ETF博时盘中换手9.59%，成交7.26亿元。拉长时间 看，截至5月28日，信用债ETF博时近1周日均成交39.61亿元。 财信证券表示：信用债方面，票息杠杆策略仍占优。受存款利率调降影响，上周信用债表现优于利率债，收益率整体下行，信用利差多数收窄。展望后续， 当前新的一轮存款调降已经开始，后续重点关注中小行的存款利率调降情况。整体来看，在比价效应的推动下，预计后续居民存款或将进一步向非银机构转 移，新增配置需求有望对中短久期信用债形成利好，叠加当前票息资产仍稀缺、且利率债仍处于窄幅震荡中，赚钱效应偏弱，信用债性价比或将进一步凸 显，预计信用利差有望逐步收窄。 信用债ETF博时紧密跟踪深证基准做市信用债指数，深证基准做市信用债指数反映深市基准做市信用债市场运行特征。 规模方面，信用债ETF博时近1周规模增长11.87亿元，实现显著增长，新增规模位居可比基金2/4。 从收益能力看，截至2025年5月28日，信用债ETF博时自成立以来，最长连涨月数为2个月，涨跌月数比为2/1，月盈利百分比为 ...

截至2025年5月19日 10:45，信用债ETF博时(159396)上涨0.01%，最新价报100.51元。流动性方面，信用债ETF博时盘中换手52.75%，成交31.79亿元，市场交 投活跃。 浙商证券指出，关税谈判落地，长债或有止盈压力，建议继续关注短久期信用债。中美关税谈判落地提振经济增长预期及风险偏好，同时后续关税政策不确 定性导致债市方向性交易动能不足，整体走势呈现纠结态势。长端品种受制于经济预期边际改善存在一定调整压力，但好在央行近期降准降息操作打开了短 端收益率的下行空间，叠加资金面维持宽松，短久期信用债持有感受相对较好。 规模方面，信用债ETF博时近3月规模增长32.45亿元，实现显著增长，新增规模位居可比基金1/4。 份额方面，信用债ETF博时近1月份额增长976.80万份，实现显著增长，新增份额位居可比基金2/4。 资金流入方面，信用债ETF博时最新资金流入流出持平。拉长时间看，近5个交易日内有3日资金净流入，合计"吸金"1.88亿元，日均净流入达3764.24万元。 从收益能力看，截至2025年5月16日，信用债ETF博时自成立以来，最长连涨月数为2个月，涨跌月数比为2/1，月盈利百分 ...

Group 1 - The core viewpoint is that the credit bond ETF market in China has significant growth potential, supported by regulatory backing, focus from fund companies, and increasing investor acceptance [2] - The latest price of the credit bond ETF Bosera is 100.49 yuan, with a trading volume of 1.317 billion yuan, indicating active market participation [2] - The credit bond ETF Bosera has reached a new high in scale at 6.029 billion yuan, ranking in the top quarter among comparable funds [3] Group 2 - In terms of share growth, the credit bond ETF Bosera saw an increase of 10.408 million shares in the past month, placing it in the second quarter among comparable funds [3] - The fund has experienced a net inflow of 475 million yuan over the last five trading days, with an average daily net inflow of approximately 9.494 million yuan [3] - The credit bond ETF Bosera has a management fee rate of 0.15% and a custody fee rate of 0.05%, which are the lowest among comparable funds [3] Group 3 - The fund has demonstrated strong performance, with a historical monthly profit percentage of 66.67% and a 100% probability of profit over a three-month holding period [3] - The maximum drawdown since inception is 0.89%, with a relative benchmark drawdown of 0.10%, and a recovery period of 26 days [3] - The tracking error over the past three months is 0.008%, indicating the highest tracking precision among comparable funds [3]

Core Viewpoint - The recent adjustments in bond review policies by regulatory authorities have led to a more stringent requirement for issuers regarding debt repayment capabilities and information disclosure, impacting the approval pace for weaker credit quality platforms [2][3]. Group 1: Market Performance - As of May 13, 2025, the credit bond ETF Boshi (159396) rose by 0.01%, with a latest price of 100.56 yuan [2]. - The trading volume for the credit bond ETF Boshi reached 10.26 billion yuan, indicating active market participation, with an average daily transaction of 20.52 billion yuan over the past month [2]. - The latest scale of the credit bond ETF Boshi reached 5.918 billion yuan, marking a new high since its inception and ranking it in the top quarter among comparable funds [2]. Group 2: Fund Inflows and Performance - The credit bond ETF Boshi has seen continuous net inflows over the past three days, totaling 407 million yuan, with a peak single-day inflow of 286 million yuan [3]. - The fund has recorded a maximum drawdown of 0.89% since inception, with a recovery period of 26 days [3]. - The management fee for the credit bond ETF Boshi is 0.15%, and the custody fee is 0.05%, which are the lowest among comparable funds [3]. Group 3: Index Tracking and Holdings - The credit bond ETF Boshi closely tracks the Shenzhen benchmark market-making credit bond index, which reflects the operational characteristics of the credit bond market in Shenzhen [3]. - As of April 30, 2025, the top ten weighted stocks in the Shenzhen benchmark market-making credit bond index accounted for 8.59% of the total index [4].

Core Viewpoint - The credit bond ETF from Bosera has shown positive performance and growth in both liquidity and scale, indicating a favorable investment opportunity in the current market environment [3][4]. Group 1: Performance Metrics - As of May 8, 2025, the Bosera credit bond ETF (159396) increased by 0.03%, with a latest price of 100.41 yuan [3]. - The ETF's average daily trading volume over the past month reached 22.01 billion yuan [3]. - Since its inception, the ETF has recorded a maximum drawdown of 0.89%, with a recovery time of 26 days [4]. Group 2: Fund Flows and Growth - The ETF has seen a net inflow of 1.55 billion yuan over the past seven trading days, averaging 22.08 million yuan per day [4]. - The fund's size has reached a new high of 5.505 billion yuan, ranking in the top quarter among comparable funds [3]. - In the last month, the ETF's shares increased by 12.784 million, also placing it in the top quarter of comparable funds [3]. Group 3: Fee Structure and Tracking Accuracy - The management fee for the Bosera credit bond ETF is 0.15%, and the custody fee is 0.05%, making it the lowest among comparable funds [4]. - The tracking error over the past three months is 0.008%, indicating the highest tracking precision among similar funds [4]. Group 4: Index Composition - As of March 31, 2025, the top ten weighted stocks in the Shenzhen benchmark market-making credit bond index accounted for 8.77% of the index [5].

Group 1 - The People's Bank of China announced a 0.5 percentage point reserve requirement ratio cut, providing approximately 1 trillion yuan in long-term liquidity to the market, along with a 0.1 percentage point reduction in policy interest rates [2] - The credit bond ETF from Bosera has seen a recent increase of 0.02%, with a latest price of 100.42 yuan, and a turnover rate of 0.6% during the trading session [2] - The average daily trading volume of the Bosera credit bond ETF over the past month reached 2.165 billion yuan [2] Group 2 - West Securities predicts a significant likelihood of a downward trend in credit bond yields in May, influenced by fundamental and monetary factors [3] - The Bosera credit bond ETF closely tracks the Shenzhen benchmark market-making credit bond index, reflecting the operational characteristics of the Shenzhen credit bond market [3] - The latest scale of the Bosera credit bond ETF reached 5.504 billion yuan, marking a new high since its inception and ranking in the top quarter among comparable funds [3] Group 3 - The Bosera credit bond ETF has experienced continuous net inflows over the past four days, with a maximum single-day net inflow of 100 million yuan, totaling 155 million yuan in net inflows [3] - Since its inception, the Bosera credit bond ETF has recorded a maximum drawdown of 0.89%, with a relative benchmark drawdown of 0.10% [4] - The management fee for the Bosera credit bond ETF is 0.15%, and the custody fee is 0.05%, which are the lowest among comparable funds [4]