Core Insights - The commercial aerospace sector is becoming a central battlefield for fund managers as the commercialization inflection point becomes clearer, indicated by frequent net value deviations and anomalies in fund products [1] - The recent surge in fund net values is linked to significant shifts in investment strategies, with a notable focus on the commercial aerospace theme [2] - The valuation reconstruction driven by the "U.S. stock mapping" is prompting fund managers to reassess the investment value of the commercial aerospace sector [3] Fund Performance and Strategy - Several fund products have shown significant net value fluctuations, suggesting a strategic shift towards the commercial aerospace sector, as seen with the East Finance Fund and Changcheng Jiujia Fund [2] - The net value increases of these funds occurred despite their top holdings not performing well, indicating a potential cross-year repositioning by fund managers [2] ETF Market Dynamics - Public funds are increasingly focusing on the commercial aerospace sector, with a notable rise in the issuance and establishment of satellite and commercial aerospace-themed ETFs [4] - The rapid establishment of these ETFs reflects a growing consensus among investors regarding the commercial aerospace theme as a new investment avenue [4] Research and Industry Insights - Public funds are extending their research efforts into the upstream and downstream of the aerospace industry, conducting targeted investigations into key companies and production capabilities [5][6] - These research activities are aimed at constructing a detailed investment map of the commercial aerospace sector, covering various components and applications [6] Market Trends and Future Outlook - The commercial aerospace industry is transitioning from a conceptual phase to a reality, with recent successful rocket launches serving as catalysts for increased market interest [7] - The successful launch of reusable rockets is seen as a significant milestone, indicating a shift towards a new trillion-dollar market in commercial aerospace [8]