一、ETF行业快讯1.三大指数震荡下挫，科创材料板块ETF逆势上涨 今日，三大指数震荡下挫，上证综指下跌0.39%，深证成指下跌1.03%，创业板指下跌1.4%。多只科创 材料板块ETF上涨，其中，科创新材料ETF汇添富（589180.SH）上涨1.44%，科创材料ETF （588160.SH）上涨1.17%，科创新材料ETF（588010.SH）上涨0.95%。 2.51只指增ETF年内平均净值增长率超30% 据证券日报，今年以来，在市场风格快速轮动的背景下，增强指数型ETF凭借"指数底+主动增"的双重 优势脱颖而出。Wind资讯数据显示，截至11月10日，全市场51只增强指数型ETF悉数实现年内正收益， 平均净值增长率达30.21%。 据上海证券报，内外资机构均在借道ETF布局后市。在近日成立的跨境ETF持有人名单中，多家外资巨 头现身其中。与此同时，各路产业资本也在借道ETF基金入市。在业内人士看来，受政策支持与产品创 新双重驱动，ETF已成为资产配置的重要工具。ETF产品也持续快速扩容，年内已有超300只ETF上市， 数量远超去年全年。 二、今日行情速览1.指数走势 统计A股与海外主要核心指数走势，今 ...

Core Viewpoint - Nearly 90% of enhanced index ETFs have achieved excess returns this year, particularly in the small-cap broad-based products, indicating a significant performance advantage in a differentiated market environment [2][3]. Performance Analysis - As of October 31, 29 enhanced strategy ETFs have outperformed their benchmark returns, with only 4 failing to do so. Eight ETFs exceeded excess returns of 10 percentage points, with the招商中证2000增强策略ETF achieving over 20% excess return [4]. - The strong performance of enhanced index ETFs is attributed to two main factors: the inefficiency of the A-share market and the strong small-cap style this year, allowing these funds to outperform their benchmarks despite market constraints [4][5]. Market Dynamics - The current market's high volatility has created opportunities for enhanced indices to outperform, with quantitative models effectively capturing price deviations for excess returns [4][6]. - Enhanced ETFs have shown a daily tracking error of less than 0.3%, with AI algorithms dynamically adjusting industry exposure to mitigate single-style risks [5][6]. Growth Potential - The enhanced index ETF market has seen rapid growth, with 51 products currently available, a 35% increase in total assets to 9.573 billion yuan this year, although they still represent only 0.26% of the stock ETF market [8]. - The development potential for enhanced index ETFs is primarily in broad-based indices, as higher market recognition of these indices may lead to greater opportunities for excess returns [8][9]. Future Trends - The future growth of enhanced index ETFs is expected to continue with the maturation of quantitative technology and evolving demand. Two promising categories include mid-cap broad-based strategies and industry-themed enhancement strategies, particularly in sectors like AI and energy [9].

Group 1 - The ETF market has become a significant component of public funds, with a total of 1,207 ETFs and a total scale of 4.31 trillion yuan, marking an increase of 579.1 billion yuan year-on-year [1][4] - The number of ETFs with a scale exceeding 100 billion yuan has reached a historical high, with nearly 100 ETFs surpassing this threshold, including 6 "giant" ETFs with scales over 100 billion yuan [1][4] - The leading ETFs by scale include Huatai-PB CSI 300 ETF at 374.7 billion yuan, followed by E Fund and Huaxia ETFs, which are also significant players in the market [1][3][4] Group 2 - The "Matthew Effect" in the ETF market is intensifying, with 12 fund management companies controlling over 80% of the market share, all having scales exceeding 100 billion yuan [2][9] - The competition among fund companies is becoming increasingly fierce, with some companies seeing significant growth while others struggle to increase their scales [2][8] - The rise of passive investment products is attributed to lower fees, transparency, and the ability to avoid biases in active management, making them more appealing to investors [2][5][6] Group 3 - The growth of ETF scales is driven by several factors, including supportive policies from regulatory bodies, a shift in investor behavior towards cost-effective and transparent products, and the increasing effectiveness of markets [5][6] - Major fund companies like Huaxia Fund and E Fund have seen substantial increases in their ETF scales, with Huaxia Fund leading at 753.56 billion yuan [8][9] - Different fund managers are focusing on various segments within the ETF market, with some emphasizing stock ETFs while others are expanding into non-stock ETFs like gold and cross-border ETFs [9][10]