今年前三季度的行情，是不是像一场"权重搭台、题材唱戏"的大戏？你坐在台下看AI（人工智能）、通 信股涨得热闹，可知道舞台背后的ETF（交易型开放式指数基金）市场里，"题材角儿"已经炸了——行 业、主题ETF直接把规模从年初的不到6000亿元干到了1万亿元，年内增长超77%。 更绝的是，大家买ETF的思路彻底变了。你以为ETF只有"涨得好才有人买"？今年前三季度的行业、主 题ETF这就"打脸"给你看。比如一只煤炭ETF，明明年内跌了5.65%，规模却从28亿元涨到114亿元（年 内增长近300%）。而有些涨得不错的ETF，比如一只芯片ETF年内涨了56.16%，规模反而少了21亿元。 这是什么操作？ 《每日经济新闻》记者就来揭秘行业、主题ETF的"资金密码"：有人"越跌越买"抄底冷门，有人"见好就 收"止盈热门，还有人盯着黄金、AI大肆"囤货"。到底钱往哪流？哪些ETF是"被遗忘的角落"？咱们一 起挖个明白。 份额变动更能说明问题 Wind（万得）数据显示，截至9月30日，全市场共有483只主题指数ETF和84只行业指数ETF，最新规模 分别为7747.85亿元和2876.27亿元，合计规模突破1万亿元。而年初 ...

Market Overview - The Shanghai Composite Index fell by 0.02% to close at 3339.93 points, with a high of 3348.23 points during the day [1] - The Shenzhen Component Index decreased by 0.26% to 10003.27 points, reaching a peak of 10058.13 points [1] - The ChiNext Index dropped by 0.31% to 1985.38 points, with a maximum of 2001.95 points [1] ETF Market Performance - The median return of stock ETFs was -0.21% [2] - The highest performing scale index ETF was the Penghua CSI 800 Free Cash Flow ETF with a return of 0.98% [2] - The highest performing industry index ETF was the GF CSI All-Share Energy ETF with a return of 1.07% [2] - The highest performing strategy index ETF was the Fortune CSI 800 Free Cash Flow ETF with a return of 1.37% [2] - The highest performing theme index ETF was the China Tai CSI All-Share Communication Equipment ETF with a return of 1.42% [2] ETF Performance Rankings - The top three ETFs by return were: - Guotai CSI All-Share Communication Equipment ETF (1.42%) - Fortune CSI 800 Free Cash Flow ETF (1.37%) - Jiayin Shanghai Stock Exchange 180 Corporate Governance ETF (1.24%) [4][5] - The top three ETFs by decline were: - Fortune National Index Information Technology Innovation Theme ETF (-1.65%) - Guotai CSI Semiconductor Materials and Equipment Theme ETF (-1.6%) - Jianxin National Index New Energy Vehicle Battery ETF (-1.58%) [4][5] ETF Fund Flows - The top three ETFs by fund inflow were: - Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board 50 ETF (inflow of 185 million yuan) - Huaxia Shanghai Stock Exchange 50 ETF (inflow of 178 million yuan) - Guotai National Index Information Technology Innovation Theme ETF (inflow of 165 million yuan) [6][7] - The top three ETFs by fund outflow were: - Southern CSI 1000 ETF (outflow of 399 million yuan) - Fortune CSI 1000 ETF (outflow of 239 million yuan) - Southern CSI 500 ETF (outflow of 197 million yuan) [6][7] ETF Margin Trading Overview - The top three ETFs by margin buying were: - Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board 50 ETF (286 million yuan) - E Fund ChiNext ETF (212 million yuan) - Huabao CSI Medical ETF (153 million yuan) [8][9] - The top three ETFs by margin selling were: - Southern CSI 1000 ETF (42.86 million yuan) - Southern CSI 500 ETF (11.59 million yuan) - Huatai-PB CSI 300 ETF (9.01 million yuan) [8][9] Institutional Insights - Huachuang Securities suggests maintaining free cash flow assets as a core holding, indicating that the investment attributes of the A-share market are enhancing [10] - Founder Securities notes that equity assets currently offer good investment value, with the A-share equity risk premium at a historically high level, recommending a focus on dividend assets and technology innovation investments [10][11]