截至2025年7月24日11:30，国证自由现金流指数上涨0.50%，成分股南京新百涨停，洛阳钼业、首旅酒店、春风动力、凌云股份等跟涨。自由现金流 ETF(159201)上涨0.56%，最新价报1.07元。流动性方面，自由现金流ETF盘中换手4.37%，成交1.74亿元。拉长时间看，截至7月23日，自由现金流ETF近1周 日均成交3.26亿元，居可比基金第一。 跟踪精度方面，截至2025年7月23日，自由现金流ETF今年以来跟踪误差为0.138%，在可比基金中跟踪精度最高。 数据显示，截至2025年6月30日，国证自由现金流指数前十大权重股分别为上汽集团、中国海油、美的集团、格力电器、洛阳钼业、中国铝业、厦门国贸、 正泰电器、上海电气和中国动力，前十大权重股合计占比57.97%。 | 股票代码 | 股票简称 | 涨跌幅 | 权庫 | | --- | --- | --- | --- | | 600104 | 上汽集团 | -0.11% | 10.18% | | 600938 | 朗恩海 | -0.31% | 9.81% | | 000333 | 美的集团 | -0.04% | 9.28% | | 000651 ...

Group 1 - The Guozheng Free Cash Flow Index decreased by 0.08% as of July 22, 2025, with mixed performance among constituent stocks, including Dongfang Electric and Zhejiang Construction Investment hitting the upper limit, while Shanghai Steel Union and others led the decline [1][3] - The Free Cash Flow ETF (159201) fell by 0.19%, with the latest price at 1.06 yuan, and it recorded a turnover rate of 2.85% with a transaction volume of 112 million yuan [1] - Over the past nine days, the Free Cash Flow ETF has seen continuous net inflows, with a maximum single-day net inflow of 94.76 million yuan, totaling 232 million yuan, averaging 25.79 million yuan in daily net inflow [1] Group 2 - As of June 30, 2025, the top ten weighted stocks in the Guozheng Free Cash Flow Index accounted for 57.97% of the index, including SAIC Motor, China National Offshore Oil, Midea Group, and Gree Electric [3] - The latest financing buy-in amount for the Free Cash Flow ETF reached 6.89 million yuan, with a financing balance of 26.45 million yuan [3] Group 3 - The top ten stocks by weight in the Free Cash Flow ETF include SAIC Motor (10.18%), Midea Group (9.28%), and Gree Electric (7.56%), with varying performance in terms of price changes [5]

来源：雪球 上周相信大多是赚钱的一周，主要指数都是上涨的，沪深300上涨1.09%，恒生科技指数上涨5.53%，纳斯 达克100指数上涨1.25%，标普500指数上涨0.59%。而伦敦黄金现货却一直高位震荡，下跌0.16%。 01 风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 作者：老丁养基金 最近老丁在看 《 道德经 》 的时候看到一句话 ， 感觉不仅对人生 ， 对投资也有很好的指导意义 ， 和大 家一起共勉 。 进退自由的稳健投资组合 老丁属于稳健投资者 ， 自己构建的基金组合计划股票仓位30%—60% ， 债券仓位30%—55% ， 商品仓 位10%—15% 。 目前基金组合中 ， 股票仓位29%左右 ， 债券仓位58%左右 ， 商品仓位13%左右 。 当然老丁之后也会根据市场和仓位情况进行调整 ， 本周加了一点光伏和黄金 。 光伏是周五下跌的时候加了 一点 ， 而黄金一直处于高位震荡状态 ， 趁机也加了一点 ， 积攒一点筹码 。 但总体来看 ， 就目前的市 场情况 ， 再结合个人的风险承受意愿和能力 ， 老丁还是倾向于稳健投资 ， 组合相当于是固收+ ， 3成左 ...

Group 1 - The core viewpoint of the news highlights the performance and growing interest in the National Index of Free Cash Flow, with a slight increase of 0.06% as of July 17, 2025, and notable leading stocks such as Shanghai Steel Union and Weichai Heavy Machinery [1][3] - The Free Cash Flow ETF (159201) experienced a minor decline of 0.10%, currently priced at 1.04 yuan, but has shown a cumulative increase of 1.37% over the past week [1] - The Free Cash Flow ETF has seen significant trading activity, with a turnover rate of 3.66% and a total transaction volume of 134 million yuan, ranking first among comparable funds in terms of average daily trading volume over the past year [1] Group 2 - Leveraged funds are increasingly investing in the Free Cash Flow ETF, with the latest financing buy amounting to 390.62 thousand yuan and a financing balance of 2,218.59 thousand yuan [3] - The growing number of free cash flow funds reflects product diversification in the market, as professional investors seek varied investment options [3] - As of June 30, 2025, the top ten weighted stocks in the National Index of Free Cash Flow accounted for 57.97% of the index, including major companies like SAIC Motor and China National Offshore Oil [3]

Group 1 - Multiple public funds are launching new products focused on free cash flow, with the 华夏中证500自由现金流ETF and 长城国证自由现金流指数基金 both starting their offerings on July 16 [1][3] - The 华夏中证500自由现金流ETF has a fundraising cap of 8 billion yuan and allows for quarterly assessments and profit distributions if certain conditions are met [3][4] - The total scale of free cash flow ETFs has exceeded 10.3 billion yuan since the first batch was launched on February 27, with significant interest from various public funds [5][6] Group 2 - As of July 16, there are 40 free cash flow-related index funds in the market, with 24 being ETFs, indicating a growing interest in this investment strategy [6] - The 中证全指自由现金流指数 and 国证自由现金流指数 have annualized returns of 6.49% and 5.69% respectively over the past year, highlighting the performance potential of these funds [7] - The increasing frequency of new free cash flow fund launches reflects a diversification of products and a growing emphasis on free cash flow as a key indicator of a company's financial health [7][8]

流动性方面，自由现金流ETF盘中换手7.23%，成交2.63亿元。拉长时间看，截至7月11日，自由现金流ETF近1年日均成交2.94亿元，排名可比基金第一。 从资金净流入方面来看，自由现金流ETF近3天获得连续资金净流入，合计"吸金"2477.75万元。份额方面，自由现金流ETF近1周份额增长2000万份；规模方 面，自由现金流ETF近1周规模增长5157.4万元，新增份额和规模均位居可比基金首位。 费率方面，自由现金流ETF管理费率为0.15%，托管费率为0.05%，费率在可比基金中最低。 跟踪精度方面，截至2025年7月11日，自由现金流ETF近3月跟踪误差为0.094%，在可比基金中跟踪精度最高。 数据显示，截至2025年6月30日，国证自由现金流指数(980092)前十大权重股分别为上汽集团、中国海油、美的集团、格力电器、洛阳钼业、中国铝业、厦 门国贸、正泰电器、上海电气、中国动力，前十大权重股合计占比57.97%。 截至2025年7月14日14:26，国证自由现金流指数上涨0.97%，成分股国电南自、潍柴重机(000880)上涨10.00%涨停，上海钢联、白银有色、上汽集团等跟 涨。自由现金流ETF ...

Core Insights - The National Index of Free Cash Flow (980092) has shown a strong increase of 1.02% as of June 24, 2025, with notable gains in constituent stocks such as Sumida (7.16%), Ousheng Electric (6.03%), and Weichai Heavy Machinery (4.96%) [1] - The Free Cash Flow ETF (159201) has achieved a three-day consecutive increase, closing at 1 yuan, with a trading volume of 2.94 billion yuan and a turnover rate of 7.87% [1] - The Free Cash Flow ETF has seen significant growth in scale, with an increase of 13.67 million yuan over the past week, leading comparable funds [1] - The ETF's net inflow of funds reached 4.63 million yuan over the last five trading days, indicating strong investor interest [1] Liquidity and Leverage - Leveraged funds continue to invest, with the latest financing buy amounting to 2.48 million yuan and a financing balance of 22.81 million yuan for the Free Cash Flow ETF [3] - The ETF has the highest tracking accuracy among comparable funds, with a tracking error of only 0.150% year-to-date [3] Valuation Metrics - The Free Cash Flow ETF tracks the National Index of Free Cash Flow, which has a current price-to-earnings ratio (PE-TTM) of 11.71, placing it in the 16.3% percentile over the past year, indicating it is undervalued compared to 83.7% of the time historically [3] Fund Management - The fund management fee is set at an annual rate of 0.15%, and the custody fee at 0.05%, both of which are among the lowest in the market, maximizing benefits for investors [4] Stock Performance - Notable stock performances include Midea Group with a gain of 1.51% and Weichai Power with a gain of 2.03%, while China National Offshore Oil Corporation saw a decline of 2.21% [6]

Core Viewpoint - The National Index of Free Cash Flow has experienced a decline of 0.59% as of May 22, 2025, with mixed performance among constituent stocks, indicating a volatile market environment [1]. Group 1: ETF Performance - The Free Cash Flow ETF (159201) has decreased by 0.50%, with the latest price at 0.99 yuan [1]. - The ETF has seen a turnover rate of 7.55% during the trading session, with a total transaction volume of 260 million yuan [1]. - Over the past year, the average daily transaction volume of the Free Cash Flow ETF is 299 million yuan, ranking it first among comparable funds [1]. Group 2: Fund Inflows and Growth - In the last 10 trading days, the Free Cash Flow ETF has attracted a total of 25.33 million yuan in inflows [1]. - The ETF's shares have increased by 5.8 million this month, indicating significant growth [1]. - In the past week, the ETF's scale has grown by 5.612 million yuan, placing it in the top quarter among comparable funds [1]. Group 3: Leverage and Risk Metrics - Leverage funds continue to invest, with a net financing amount of 1.11 million yuan on the previous trading day, bringing the latest financing balance to 53.38 million yuan [3]. - The ETF has a Sharpe ratio of 1.09 over the past month, ranking it third among comparable funds, indicating the highest return for the same level of risk [3]. - The management fee of the Free Cash Flow ETF is 0.15%, and the custody fee is 0.05%, both of which are the lowest among comparable funds [3]. Group 4: Tracking Accuracy - The tracking error of the Free Cash Flow ETF over the past month is 0.007%, making it the most accurate among comparable funds [3]. - Future market stability is expected as the Central Huijin Investment Company is anticipated to act as a stabilizing force during significant market fluctuations, suggesting manageable downside risks for A-shares [3].

截至2025年5月20日9:55，国证自由现金流指数上涨0.17%，成分股兆讯传媒、莱宝高科、亚普股份、海正药业、奥瑞金等领涨。自由现金流ETF(159201)上 涨0.20%，盘中换手3.42%，成交1.17亿元。拉长时间看，截至5月19日，自由现金流ETF近1年日均成交3亿元，排名可比基金第一。 资金流入方面，自由现金流ETF（159201）近10个交易日内有6日资金净流入，合计"吸金"6270.63万元。规模方面，自由现金流ETF近2周规模增长1.46亿 元，实现显著增长，新增规模位居可比基金1/4。 数据显示，杠杆资金持续布局中。自由现金流ETF最新融资买入额达139.76万元，最新融资余额达5194.55万元。 截至2025年5月16日，自由现金流ETF近1个月夏普比率为1.09，排名可比基金1/3，同等风险下收益最高。 自由现金流ETF紧密跟踪国证自由现金流指数，国证自由现金流指数反映沪深北交易所自由现金流水平较高且稳定性较好的上市公司证券价格变化情况。数 据显示，截至2025年4月30日，国证自由现金流指数前十大权重股分别为美的集团、中国海油、中国铝业、中煤能源、潍柴动力、上海电气、振华重工、浙 ...

Group 1 - The core viewpoint of the news highlights the performance and growth of the Guozheng Free Cash Flow ETF, which has seen significant increases in both its index and fund size, indicating strong investor interest and liquidity [1][3]. - As of May 12, 2025, the Free Cash Flow ETF has achieved a cumulative increase of 2.51% over the past week, ranking first among comparable funds [1]. - The ETF has experienced a net inflow of 164 million yuan over the past four days, with an average daily net inflow of approximately 40.88 million yuan [1]. Group 2 - The Free Cash Flow ETF has the lowest management fee rate of 0.15% and a custody fee rate of 0.05% among comparable funds, making it cost-effective for investors [3]. - The tracking error of the ETF is only 0.006% over the past month, indicating the highest tracking precision compared to similar funds [3]. - The underlying index, the Guozheng Free Cash Flow Index, is currently at a historical low valuation with a price-to-book ratio (PB) of 1.58, which is below 80.9% of the time over the past year, suggesting a favorable valuation for investors [3]. Group 3 - The Free Cash Flow ETF has a total share count of 3.542 billion, reaching a one-month high, and its total scale has reached 3.475 billion yuan, marking a new high since its inception [1][3]. - The ETF's liquidity is strong, with an average daily trading volume of 302 million yuan over the past year, ranking first among comparable funds [1]. - The ETF's latest margin buying amount is 1.3563 million yuan, with a margin balance of approximately 49.4 million yuan, indicating continued leverage interest [1].