10月21日，华夏基金、华安基金、景顺长城基金等公募机构相继发布风险提示公告，直指旗下跨境ETF二级市场交易价格 大幅偏离基金份额参考净值（IOPV）。 华夏基金10月21日午盘收盘前后连发两则公告表示，公司旗下华夏野村日经225ETF二级市场交易价格明显高于基金份额 参考净值，出现较大幅度溢价；同日，华安基金也针对旗下华安日经225ETF出现较大幅度溢价发布了风险提示公告。 上述两只跨境ETF主要跟踪日经225指数，按一级投资类型划分，均属于QDII（合格境内机构投资者）基金。 本报记者 彭衍菘 10月21日，日经225指数收涨0.27%报49316.06点，韩国综合指数涨0.24%报3823.84点，日韩股市双双续创历史新高。 然而，投资者借道跨境ETF（交易型开放式指数基金）布局海外行情的热情中，却潜藏着显著的溢价风险。当日，华夏基 金、华安基金、景顺长城基金等多家基金公司紧急发布风险提示，多只跟踪境外指数的跨境ETF溢价率较高，盲目追高可能导 致重大损失。例如，截至目前，景顺长城纳斯达克科技ETF（QDII）溢价率高达16.89%。 多只产品溢价率较高 "我们认为这反映出市场短期供需失衡，以及投资者受 ...

Core Insights - The QDII funds have shown significant performance this year, but many products are frequently warning about premium risks due to price discrepancies between the market and net asset values [1][5] - As of May 27, eight QDII funds issued premium risk alerts, with some funds having issued multiple warnings throughout May [1][2] - Investors are advised to monitor premium rates closely, especially when they exceed 10%, and to wait for a return to reasonable levels before investing [1][5] Performance Overview - As of May 23, out of 650 QDII funds, 425 achieved positive returns this year, representing 65.38% of the total, with 46 funds exceeding a 30% return [4] - The top-performing fund, Huatai-PineBridge Hong Kong Advantage Selection Mixed Fund (QDII), recorded a year-to-date return of 68.45%, while its C-class shares achieved 67.96% [3][4] - The strong performance of QDII funds is largely attributed to investments in the Hong Kong stock market, which has seen significant gains this year [4] Market Context - The Hang Seng Index and the Hang Seng Tech Index have risen by 16.56% and 15.99% respectively since the beginning of the year, contributing to the positive performance of QDII funds focused on Hong Kong stocks [4] - In contrast, some QDII funds investing in US and European markets have reported negative returns, highlighting the variability in performance based on market focus [4]