周一（8月25日），罗素2000指数ETF收跌1.05%，欧元做多跌0.95%，道指ETF跌0.78%，新兴市场ETF 和美国房地产ETF跌0.57%，日元做多跌0.54%，大豆基金和标普500 ETF至少跌0.44%，美国国债20+年 ETF和纳指100 ETF跌0.29%，黄金ETF跌0.24%，农产品基金跌0.04%。做多美元指数则收涨0.80%，美 国布伦特油价基金涨1.29%。 ...

Market Performance Summary - On August 15, Brent oil price fund decreased by 1.24% [1] - The 20+ year US Treasury ETF fell by 0.71% [1] - Russell 2000 index ETF dropped by 0.49% [1] - Nasdaq 100 ETF declined by 0.44% [1] - Long positions in the US dollar index and S&P 500 ETF saw a maximum decline of 0.33% [1] Commodity and Currency Performance - Gold ETF increased by 0.06% [1] - Emerging markets ETF and Dow Jones ETF saw a maximum increase of 0.14% [1] - Long positions in the Japanese yen rose by 0.39% [1] - Long positions in the euro increased by 0.46% [1] - Soybean fund rose by 1.42% [1] - Agricultural products fund increased by 1.73% [1]

Group 1 - The Russell 2000 Index ETF increased by 1.94% [1] - Emerging Markets ETF rose by 1.20% [1] - Dow Jones ETF gained 1.07% [1] Group 2 - US Real Estate ETF, US Treasury 20+ Year ETF, and Soybean Fund increased between 0.93% and 0.34% [1] - Agricultural Funds, Gold ETF, Long Yen, Long Euro, and Nasdaq 100 ETF also saw increases up to 0.34% [1] Group 3 - Long Dollar Index decreased by 0.26% [1] - US Brent Oil Price Fund fell by 0.54% [1] - Long Volatility Index dropped by 0.71% [1]

Group 1 - Brent oil price fund decreased by 2.83% on Friday, August 1 [1] - Russell 2000 index ETF fell by 2.04% [1] - Nasdaq 100 ETF declined by 1.97% [1] - S&P 500 ETF dropped by 1.29% [1] - Dow Jones ETF decreased by 1.27% [1] - Long dollar index fell by 1.18% [1] - Agricultural funds, emerging market ETFs, and soybean funds saw declines of up to 0.89% [1] Group 2 - Euro long position increased by 1.37% [1] - US Treasury 20+ year ETF rose by 1.42% [1] - Gold ETF gained 2.03% [1] - Long position in Japanese yen increased by 2.21% [1] - Fear index long position surged by 8.13% [1]

Group 1 - Gold ETFs increased by 1.54% on Monday, July 21 [1] - The Japanese Yen appreciated by 0.92% [1] - The US Treasury 20+ Year ETF rose by 0.89% [1] Group 2 - Emerging Market ETFs gained 0.65% [1] - The Euro appreciated by 0.62% [1] - Nasdaq 100 ETF increased by 0.52% [1] Group 3 - S&P 500 ETF and Dow Jones ETF saw a maximum increase of 0.19% [1] - Brent crude oil price fund decreased by 0.26% [1] - Russell 2000 Index ETF fell by 0.40% [1] Group 4 - Agricultural funds declined by 0.5%, with soybean funds down by 0.55% [1] - Long Dollar Index decreased by 0.66% [1]

Core Viewpoint - On July 17, the Russell 2000 Index ETF rose by 1.31%, indicating a positive performance in small-cap stocks, while various other ETFs also showed gains, reflecting a generally bullish market sentiment [1] Group 1: ETF Performance - The Russell 2000 Index ETF increased by 1.31% [1] - The Brent Oil Fund rose by 1.19% [1] - The Nasdaq 100 ETF gained 0.81% [1] - The Soybean Fund increased by 0.72% [1] - The Dow Jones ETF rose by 0.65% [1] - The S&P 500 ETF increased by 0.61% [1] - The Emerging Markets ETF rose by 0.57% [1] - The Long Dollar Index increased by 0.44% [1] Group 2: Declining ETFs - The 20+ Year U.S. Treasury ETF fell by 0.02% [1] - The U.S. Real Estate ETF decreased by 0.11% [1] - The Gold ETF declined by 0.22% [1] - The Long Euro fell by 0.34% [1] - The Agricultural Fund decreased by 0.39% [1] - The Long Yen fell by 0.55% [1]

Core Viewpoint - The market experienced a decline on July 15, with the Russell 2000 index falling by 1.96%, indicating a bearish sentiment in small-cap stocks [1] Group 1: Market Performance - The Russell 2000 index decreased by 1.96% [1] - The US Real Estate ETF dropped by 1.47% [1] - Agricultural funds and the Dow Jones ETF both fell by 1% [1] - Long positions in the Japanese Yen and the 20+ Year US Treasury ETF declined by at least 0.7% [1] - Long positions in the Euro, the Fear Index, soybean funds, and Brent crude oil price funds saw declines of up to 0.59% [1] - The Gold ETF decreased by 0.42% [1] - Conversely, the Nasdaq 100 ETF rose by 0.09% [1] - Long positions in the US Dollar Index increased by 0.55% [1] - Emerging Market ETFs gained 0.72% [1]

Market Performance Summary - The fear index declined by 2.68% on Tuesday, July 8 [1] - Gold ETFs fell by 1.04%, while the Japanese yen, Dow Jones ETF, and soybean funds decreased by 0.44% to 0.32% [1] - The 20+ year U.S. Treasury ETF dropped by 0.14%, and the S&P 500 ETF decreased by 0.05% [1] Positive Market Movements - Euro long positions and Nasdaq 100 ETFs increased by 0.06% [1] - The long U.S. dollar index rose by 0.07%, while agricultural funds gained 0.12% [1] - Emerging market ETFs saw a rise of 0.62%, Russell 2000 index ETFs increased by 0.69%, and U.S. Brent oil price funds grew by 0.75% [1]

Group 1 - The core viewpoint of the article highlights the performance of various ETFs, with gold ETFs leading the gains in the market [1] - Gold ETFs increased by 1.20% on June 30, while U.S. Treasury 20+ Year ETFs rose by 0.98% [1] - Emerging market ETFs and Euro long positions saw a maximum increase of 16.47% in the first half of the year [1] Group 2 - In the first half of the year, gold ETFs accumulated a rise of 25.9%, while agricultural funds experienced a decline of 1.65% [1] - The performance of the Russell 2000 Index ETF was negative, with a decrease of 1.85% [1] - The dollar index long positions fell by 8.63%, indicating a weaker dollar performance [1]

Report Industry Investment Rating No relevant information provided. Core View of the Report The report focuses on the latest developments in the US ETF and ordinary public - offering fund markets. It details new product launches, capital flows, and performance of different types of products. Specifically, Calamos issued a "Snowball" ETF, the inflow of S&P 500 ETFs is volatile, emerging - market products are performing well, and the outflow of US domestic stock funds remains high while the inflow of bond products has slightly narrowed [1]. Summary According to the Directory 1. US ETF Innovation Products: Calamos Issues "Snowball" ETF - Last week, 46 new products were issued in the US, with many managers issuing multiple products in batches. Newly - established manager Bluemonte launched its first batch of active ETFs, including 5 equity and 4 bond products, covering various styles and durations [5][7]. - Defiance and Tradr jointly issued 9 single - stock leveraged and inverse products, targeting companies in different fields such as chips and AI. Larry Benedict, a well - known options trader, issued an Opportunistic Trader ETF [8]. - First Trust and ProShares expanded their Buffer product lines. ProShares' Dynamic Buffer series uses a daily buffer approach, protecting against 1 - 5% daily declines and setting a return cap, with 3 products linked to the S&P 500, Nasdaq 100, and Russell 2000 respectively [8]. - Goldman Sachs, Capital Group, Horizon, and T. Rowe Price expanded their active ETF series, mainly with traditional equity and bond products. Capital Group and Horizon's products are mainly used as underlying assets for Model Portfolios [9]. - On Wednesday last week, Calamos issued a "Snowball" ETF, investing in the US Autocallable notes market worth over $100 billion. The product invests in over 50 different snowball contracts, mainly with Goldman Sachs as the counterparty. Its return structure is similar to that of domestic snowballs [9]. 2. US ETF Dynamics 2.1 US ETF Capital: Inflow of S&P 500 ETFs is Volatile - Recently, although the attention on cross - border equity ETFs has increased, the inflow of US domestic equity products has also been maintained. Last week, Vanguard's S&P 500 ETF had a large - scale outflow, and the funds returned to products of BlackRock and State Street, narrowing the gap. Cross - border products continued to see inflows [12][15]. - The inflow of each S&P 500 ETF has fluctuated greatly this year. Emerging - market products have had a good and continuous inflow this year, and corporate bond products had a slight return last week [17]. 2.2 US ETF Performance: Emerging - Market Products Perform Well - Since the beginning of this year, the S&P 500 has risen by less than 5%, while emerging - market related products have outperformed the S&P 500 by about 10%, with many products rising by over 15%. Emerging - market bonds have also performed well [18]. 3. Recent Capital Flows of US Ordinary Public - Offering Funds - In May 2025, the total amount of non - money public - offering funds in the US was $21.91 trillion, an increase of $0.85 trillion compared to April 2025. In May, the S&P 500 rose by 6.15%, and the scale of US domestic equity products increased by 5.49%, slightly lower than the stock increase [22]. - From June 11th to June 18th, US domestic equity funds had a total outflow of approximately $10.4 billion, which is still relatively high, and the inflow of bond products slightly narrowed [22].