易方达、华夏、南方等多家头部公募纷纷加入警示行列，密集发布风险提示公告。据统计，截至12月11 日，本月已有14家公募机构累计发布超200份跨境ETF溢价风险提示公告，部分跟踪标普500、纳斯达克 等指数的产品溢价率突破5%，部分基金公司更明确表态，不排除通过临时停牌等方式警示风险。 公告密集刷屏，嘉实、南方基金等头部机构集体预警 作为行业风向标，头部机构的集体预警让市场关注度持续提升。12月10日，嘉实基金发布公告称，近 期，公司旗下纳指ETF嘉实二级市场交易价格高于基金份额参考净值，出现较大幅度溢价，特此提示投 资者关注二级市场交易价格溢价风险，投资者如果盲目投资，可能遭受较大损失。 此前一日，南方基金也在公告中指出，截至12月9日午间收盘，旗下南方标普500ETF（QDII）二级市场 交易价格明显高于基金份额参考净值（IOPV），当日溢价幅度达3.41%。同日，易方达基金、华夏基金 等多家公司同步跟进，提示旗下跨境ETF产品的溢价风险。而富国基金则更早于12月8日，就其富国纳 斯达克100ETF（QDII）的溢价情况发出警示。 Wind数据显示，跨境ETF风险提示公告的密集程度由来已久，11月全月相关公 ...

Core Viewpoint - Investors should be cautious of the premium risk associated with cross-border ETFs, as recent market conditions indicate a potential overvaluation of these products [1][4]. Group 1: Premium Risks - Multiple public fund institutions have issued warnings regarding premium risks for their cross-border ETFs, particularly those tracking overseas indices like the US and Japan [1][2]. - As of November 18, 34 cross-border investment products from 19 public fund institutions have issued over 330 premium risk alerts, with specific ETFs like the Huaxia Nikkei 225 ETF showing significant premium levels [2][4]. - The average premium rate for 192 cross-border ETFs was 0.79%, with 32 ETFs exceeding 1% and 2 ETFs surpassing 10% [4]. Group 2: Market Conditions - Major overseas indices are experiencing corrections, with the Nikkei 225 index down 3.22% and the Nasdaq, S&P 500, and Dow Jones indices also showing declines in November [4]. - Despite short-term risks, there remains a strong long-term demand for cross-border ETFs, with a net inflow of 34.105 billion yuan in November and a 116.86% increase in total scale to 919.949 billion yuan this year [2][4]. Group 3: Investment Strategies - Analysts emphasize the importance of rational investment frameworks, suggesting that while cross-border ETFs can diversify risks, the focus should be on enhancing research capabilities and investor education rather than merely expanding scale [4][5]. - Investors are advised to maintain a net asset value orientation and a long-term perspective to benefit from global investments, especially in volatile market conditions [5].