作为首批10只科创债ETF之一，科创债ETF鹏华(551030)跟踪上证AAA科技创新公司债指数，该指数是 从上交所上市的科技创新公司债中，选取主体评级AAA，隐含评级AA+及以上的债券作为成分券。沪 AAA科创债指数平均收益率2.02%，久期3.72。 相较于单券买入策略，科创债ETF具有低费率、低交易成本、透明度高、分散度高、"T+0"高效申赎等 优势，有利于分散投资组合风险、提高资金使用效率。 华西证券认为，在政策红利下，科创债市场空间广阔，科创债ETF作为科技领域债券的唯一指数化工 具，其长期配置价值和市场影响力有望持续凸显。同时，科创债ETF工具属性灵活，兼顾收益机会与流 动性，适配投资者稳健型需求。 截至2025年10月24日 15:00，科创债ETF鹏华(551030)小幅回调，盘中成交额62.59亿元，交投活跃。截 至上个交易日，科创债ETF鹏华最新规模达192.57亿元，位居全市场同类第二、沪市同类第一。 国信证券指出，后续市场仍面临不确定性；央行呵护资金面的基调延续，基本面仍有望利于债市，因此 债券收益率进一步向上突破的可能性不大。且经过前期的调整，股债估值从"股票中性、债券偏贵"变 成" ...

截至2025年10月22日 15:00，科创债ETF鹏华(551030)上涨0.05%，盘中成交额45.81亿元，截至上个交易 日，科创债ETF鹏华最新规模达192.38亿元，位居全市场同类第二、沪市同类第一。 华西证券认为，在政策红利下，科创债市场空间广阔，科创债ETF作为科技领域债券的唯一指数化工 具，其长期配置价值和市场影响力有望持续凸显。同时，科创债ETF工具属性灵活，兼顾收益机会与流 动性，适配投资者稳健型需求。 鹏华基金自2018下半年建立"固收工具型产品"中长期战略，并在利率债指数产品及ETF、信用债指数、 存单指数产品等方面积极布局，致力于打造固收工具库，力争成为国内"固收指数专家"。当前债券ETF 总规模已突破240亿。 债券ETF方面，鹏华基金目前布局了5年地债ETF（159972）、0-4地债ETF（159816），分别定位为中 长久期债券ETF、类货币ETF工具，其中5年地债ETF是全市场规模最大的地方债ETF，流动性也位于市 场前列。 凭借专业的债券指数投资管理能力和丰富的产品运作经验，鹏华基金将持续为投资者提供优质的债券指 数化投资工具。 以上内容与数据，与有连云立场无关，不构成投 ...

Core Insights - The article highlights the significant performance of the STAR Market and the success of Penghua Fund in the technology innovation sector, particularly through its Penghua STAR 100 ETF and Penghua STAR Bond ETF [1][5]. Group 1: Performance Metrics - As of August 31, the Penghua STAR 100 ETF (588220) achieved a net value growth rate of 94.54% over the past year, with a total scale of 6.672 billion, ranking first among 12 ETFs tracking the STAR 100 [2]. - The Penghua STAR Bond ETF (551030) has a scale of 16.434 billion, ranking second in the market for similar products and first among its peers in the Shanghai and Shenzhen markets [2]. Group 2: Strategic Positioning - Penghua Fund has established a leading advantage in the ETF market through a comprehensive understanding of macroeconomic trends and policy directions, aligning with the national strategy to elevate technology innovation [3]. - The STAR 100 index covers mid-cap companies with strong liquidity, providing a balanced industry distribution and significant growth potential, which meets market demand for high-growth assets [3]. Group 3: Management and Operational Excellence - The management of ETFs at Penghua Fund is supported by a robust research and investment system, ensuring that the net value performance closely aligns with the underlying index, which is crucial for institutional investors [4]. - The fund emphasizes brand building and customer service, utilizing various formats to educate the market on the investment value and risk characteristics of the STAR 100 and STAR Bond indices [4]. Group 4: Market Trends and Future Outlook - The demand for quality equity and high-yield fixed-income assets is increasing in the context of declining market interest rates, with the STAR 100 ETF addressing the former and the STAR Bond ETF meeting the latter [6]. - Penghua Fund is expanding its ETF product matrix, which now includes 11 products covering various categories, positioning itself as a leading choice for capital inflow [6]. Group 5: Future Development - The future path for Penghua Fund as a "STAR Stock and Bond ETF Leader" appears promising, with plans to enhance existing products and expand the ETF product line to meet evolving market and client needs [7].

Group 1 - The core index of the Science and Technology Innovation Board has seen a year-to-date increase of over 25%, significantly outperforming major indices like the Shanghai Composite Index and CSI 300, making it one of the best-performing sectors in the A-share market [1] - There are currently 103 Science and Technology Innovation ETFs in the market, with Penghua Fund leading by launching the "Science and Technology China · Lighthouse Fund," which has invested in 9 funds with a total scale exceeding 23 billion yuan [1][3] - Penghua Fund has achieved a "Grand Slam" in the four major broad-based indices, with its products including the Science and Technology Innovation 100 ETF and the Science and Technology Innovation Index ETF, among others [3] Group 2 - The Science and Technology Bond ETFs have experienced explosive growth this year, with 10 funds currently available, and the Penghua Science and Technology Bond ETF ranking third in its category with a scale of 13.89 billion yuan [4] - The Penghua Science and Technology 50 Enhanced ETF, launched in 2022, focuses on the top 50 companies in the Science and Technology Innovation Board and has achieved a total net value growth rate of 25.77% since its inception, outperforming its benchmark by 18.03% [4] - The proactive development of Penghua Fund in the Science and Technology theme index products reflects its ability to grasp the pulse of the times and its role in guiding social capital to support national strategic technological forces [5]

Core Viewpoint - The recent rebound of the Sci-Tech Bond ETF indicates a recovery in the bond market, driven by strong policy support and the focus on high-quality AAA-rated bonds [1] Group 1: Sci-Tech Bond ETF Overview - The Penghua Sci-Tech Bond ETF (551030) rose by 0.20% as of July 31, 2025, at 11:15 AM [1] - This ETF tracks the Shanghai AAA Sci-Tech Innovation Company Bond Index, which includes bonds with AAA ratings and above, reflecting the performance of high-grade tech innovation bonds listed on the Shanghai Stock Exchange [1] - The index is adjusted monthly, ensuring it accurately represents the overall performance of high-grade tech innovation bonds [1] Group 2: Investment Characteristics - The Sci-Tech Bond ETF has a low credit risk profile due to its requirement for constituent bonds to have AAA ratings, providing a higher level of safety for investors [1] - There is ongoing policy support for the Sci-Tech bond market, with continuous policy initiatives since 2025 aimed at promoting its development [1] - The focus on technology innovation and strategic emerging industries aligns with national priorities, suggesting a clear long-term growth trajectory for the sector [1] Group 3: Advantages of ETF Investment - Compared to single bond purchases, the Sci-Tech Bond ETF offers advantages such as low fees, low trading costs, high transparency, and high diversification, which help mitigate investment risks [2] - The ETF structure allows for efficient "T+0" trading, enhancing liquidity and capital efficiency [2] - Penghua Fund has established a comprehensive fixed-income product strategy since the second half of 2018, with a product library that includes 9 products totaling 57.7 billion [2]