费率方面，自由现金流ETF管理费率为0.15%，托管费率为0.05%，费率在可比基金中最低。 跟踪精度方面，截至2025年8月26日，自由现金流ETF近1月跟踪误差为0.040%，在可比基金中跟踪精度最高。 自由现金流ETF紧密跟踪国证自由现金流指数，国证自由现金流指数反映沪深北交易所自由现金流水平较高且稳定性较好的上市公司证券价格变化情况。数 据显示，截至2025年7月31日，国证自由现金流指数前十大权重股分别为上汽集团、中国海油、美的集团、格力电器、洛阳钼业、中国铝业、厦门国贸、上 海电气、正泰电器和中国动力，前十大权重股合计占比57.66%。 | 股票代码 | 股票简称 | 涨跌幅 | 权重 | | --- | --- | --- | --- | | 600104 | 上汽集团 | -4.29% | 10.18% | | 600938 | 甲国海海 | 0.04% | 9.81% | | 000333 | 美的集团 | 0.38% | 9.28% | | 000651 | 格力电器 | -0.12% | 7.56% | | 603993 | 洛阳辑业 | -0.25% | 5.08% | | 60160 ...

自2004年首只ETF成立，到ETF规模首破1万亿元，用时16年。不过，在近年ETF走上发展快车道后，这类产品规模增长越来越快。首破万亿大关后，不足五 年时间，ETF规模相继突破2万亿、3万亿、4万亿元大关，并在8月25日首次突破5万亿元。回顾此前，ETF规模在4月首次突破4万亿元。换言之，从4万亿到 5万亿元仅用时短短4个月。 8月26日，中基协发布的最新数据显示，截至7月末，公募基金规模突破35万亿元，再创新高。行业整体欣欣向荣的势头下，ETF的大发展也将成为必然。不 过，马太效应之下，ETF在管规模排名前四的基金管理人已占据全市场一半的份额。在业内人士看来，ETF规模突破5万亿元后，头部基金公司优势或将更 加明显。 首破5万亿元大关 ETF规模再创新高。Wind数据显示，截至8月25日，ETF规模首次突破5万亿元，达5.07万亿元。 其中，股票型ETF的规模高达3.46万亿元，占比68.15%。跨境ETF、债券型ETF紧随其后，规模为7541.68亿元、5559.03亿元，占比依次为14.87%、10.96%。 另外，还有商品型ETF、货币型ETF和其他ETF占据小幅比例。 从近一个月来看，份额增长最多 ...

近期，随着股市上涨和资金借道ETF入市，权益类ETF规模强势增长，已突破4万亿元关口。 数据显示，今年以来，权益类ETF规模新增近8000亿元，总规模达到4.11万亿元，创历史新高。 业内人士表示，权益类ETF规模增长得益于政策引导、资本市场日益成熟、产品创新等多重因素，未来 发展或聚焦产品创新，引入更多策略，提升市场竞争力。 权益类ETF规模创纪录 Wind数据显示，截至8月22日，全市场1179只权益类ETF（含股票ETF和跨境ETF）总规模达41104.52亿 元，跨越4万亿元整数关口。 8月22日，沪指突破3800点，沪深300指数、创业板指分别大涨2.1%、3.36%，权益类ETF当日规模增长 超1100亿元，助力该类产品规模强势突破4万亿元大关。 另一方面，权益ETF作为资产方，为包括个人和机构在内的各类投资者创设了非系统性风险显著降低、 风险收益特征更为优化的可交易资产，大大拓展了投资者的配置和交易选项。 产品创新 助力指数投资迈上新台阶 过去几年，结构性行情凸显，部分处于"风口"的ETF规模快速增长，今年资金借道权益类ETF入市的需 求尤为突出。 国泰基金表示，ETF投资者大部分由股民转化而来 ...

【导读】权益类ETF规模突破4万亿元，创新高，年内增幅达24% 中国基金报记者 李树超 近期，随着股市上涨和资金借道 ETF入市，权益类ETF规模强势增长，已突破4万亿元关口。 数据显示，今年以来，权益类 ETF规模新增近8000亿元，总规模达到4.11万亿元，创历史新高。 业内人士表示，权益类 ETF规模增长得益于政策引导、资本市场日益成熟、产品创新等多重因素，未来发展或聚焦产品创新，引入更多策 略，提升市场竞争力。 权益类 ETF规模创纪录 8月22日，沪指突破3800点，沪深300指数、创业板指分别大涨2.1%、3.36%，权益类ETF当日规模增长超1100亿元，助力该类产品规 模强势突破4万亿元大关。 延续近年来的大发展趋势，今年以来，权益类 ETF继续扩容，年内新增规模接近8000亿元，增幅达24%。在股市回暖、资金净流入、新发 基金驰援下，该类产品规模快速增长。 博时基金指数与量化投资部基金经理尹浩认为，推动权益类 ETF规模显著增长的主要因素是我国资本市场的不断成熟。"近年来，资本市场 有效性逐步提升，α收益越来越难获取，投资者赚取收益更多依靠资产配置，而权益类ETF凭借其资产透明、风险收益特征 ...

Group 1 - The A-share market continues its upward trend, with the cash flow strategy performing well, as evidenced by the 500 cash flow index rising by 2.23% and the free cash flow index increasing by 1.68% as of 1:30 PM on August 15 [1] - Over 300 A-share companies have disclosed their semi-annual reports by August 14, with nearly 200 companies reporting year-on-year growth in net profit attributable to shareholders, over 30 companies turning losses into profits, and nearly 30 companies achieving a year-on-year profit increase of more than 100% [1] - Key industries such as automotive, electrical equipment, and non-ferrous metals have shown strong performance in the first half of the year among A-share companies [1] Group 2 - The free cash flow ETF (159201) focuses on industry leaders with abundant free cash flow, covering sectors such as home appliances, automotive, non-ferrous metals, electrical equipment, and oil and petrochemicals, providing significant industry diversification to mitigate single-industry volatility risks [1] - The fund management annual fee rate is 0.15%, and the custody annual fee rate is 0.05%, both of which are the lowest in the market [1] - The cash flow 500 ETF (560120) targets sectors like non-ferrous metals, basic chemicals, transportation, machinery, and pharmaceuticals, combining growth and quality with characteristics of small and mid-cap stocks [2]

截至2025年7月29日13:04，国证自由现金流指数下跌0.1%。成分股方面涨跌互现，上海电气、鄂尔多斯、健康元等领涨；欧派家居、环旭电子、保税科技等 领跌。自由现金流ETF(159201)跟随指数下行调整，打开低位布局窗口。 流动性方面，自由现金流ETF盘中换手4.76%，成交1.88亿元。拉长时间看，截至7月28日，自由现金流ETF近1周日均成交3.24亿元，居可比基金第一。 资金流入方面，自由现金流ETF近5个交易日内有3日资金净流入，合计"吸金"4781.72万元。份额方面，自由现金流ETF最新份额达37.39亿份，创近1月新 高，位居可比基金1/6。规模方面，自由现金流ETF近2周规模增长3.18亿元，实现显著增长，新增规模位居可比基金1/6。 数据显示，杠杆资金持续布局中。自由现金流ETF最新融资买入额达1119.52万元，最新融资余额达3530.10万元。 跟踪精度方面，截至2025年7月28日，自由现金流ETF今年以来跟踪误差为0.137%，在可比基金中跟踪精度最高。 数据显示，截至2025年6月30日，国证自由现金流指数(980092)前十大权重股分别为上汽集团、中国海油、美的集团、格力电 ...

Group 1 - The core index, the Guozheng Free Cash Flow Index, has decreased by 0.37% as of July 25, 2025, with mixed performance among constituent stocks, including leading gains from companies like Lianxu Electronics and Huaren Health, while companies like Yaxiang Integration and Zhejiang Construction led the declines [1] - The Free Cash Flow ETF (159201) also fell by 0.37%, with the latest price at 1.07 yuan. Over the past week, the ETF has seen a cumulative increase of 3.47%, ranking first among comparable funds [1] - In terms of liquidity, the Free Cash Flow ETF had a turnover of 0.91% during the trading session, with a transaction volume of 36.4183 million yuan. The average daily transaction volume over the past week reached 335 million yuan, ranking first among comparable funds [1] Group 2 - The Free Cash Flow ETF has attracted a total of 170 million yuan in the last five trading days, with its latest scale reaching 4.007 billion yuan, marking a new high since its inception and ranking first among comparable funds [1] - The management fee for the Free Cash Flow ETF is 0.15%, and the custody fee is 0.05%, making it the lowest among comparable funds [3] - As of June 30, 2025, the top ten weighted stocks in the Guozheng Free Cash Flow Index accounted for 57.97% of the index, including SAIC Motor, China National Offshore Oil, Midea Group, and Gree Electric [3][5]

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Core Viewpoint - The National Index of Free Cash Flow has experienced a decline of 0.33% as of July 15, 2025, with mixed performance among constituent stocks, indicating a volatile market environment [3]. Group 1: Index Performance - The National Index of Free Cash Flow saw a decrease of 0.33% as of July 15, 2025 [3]. - The Free Cash Flow ETF (159201) declined by 0.48% [3]. - Over the past week, the Free Cash Flow ETF has accumulated a rise of 1.96%, ranking first among comparable funds [3]. Group 2: Trading Activity - The Free Cash Flow ETF recorded a turnover rate of 7.44% during the trading session, with a transaction volume of 271 million yuan [3]. - The average daily trading volume of the Free Cash Flow ETF over the past year was 294 million yuan, leading among comparable funds [3]. Group 3: Fund Inflows and Growth - The Free Cash Flow ETF has seen continuous net inflows over the past four days, totaling 31.02 million yuan [3]. - The fund's scale increased by 69.74 million yuan over the past week, marking significant growth and ranking first among comparable funds [3]. Group 4: Top Holdings - As of June 30, 2025, the top ten weighted stocks in the National Index of Free Cash Flow include SAIC Motor, China National Offshore Oil, Midea Group, Gree Electric Appliances, and others, collectively accounting for 57.97% of the index [3]. Group 5: Sector Focus - The Free Cash Flow ETF focuses on industry leaders with abundant free cash flow, covering sectors such as home appliances, automotive, non-ferrous metals, power equipment, and petrochemicals, effectively mitigating single-industry volatility risks [5].

Core Insights - The number and scale of newly established ETFs in 2023 have surpassed the total for the entire year of 2022, indicating a robust growth trend in the ETF market [2][3][5] ETF Market Overview - As of July 11, 2023, a total of 184 new ETFs have been established, raising approximately 146.47 billion yuan, exceeding the total figures for 2022 [3] - Among these, stock ETFs dominate with 164 newly issued, accounting for about 65% of the total, while bond ETFs have also seen significant growth with 18 newly issued, representing 34.61% [3] - Notably, 10 new science and technology innovation bond ETFs have been launched, making up nearly 57% of the bond ETF issuance [3] Diversification and Specialization - The ETF issuance this year reflects a trend towards diversification and specialization, with a notable increase in TMT (Technology, Media, Telecommunications) and healthcare-related ETFs [4] - Smart Beta ETFs, particularly those focusing on free cash flow, have also seen a surge, indicating a shift in market investment logic towards high-quality factors [4] Factors Driving Growth - Multiple factors are contributing to the booming ETF market, including supportive policies from regulatory bodies and a strong demand for fixed-income instruments [6] - The issuance of technology innovation bonds has provided ample underlying assets for ETFs, while institutional investors are increasingly seeking stable returns through bond ETFs [6] - The promotion of systematic investment strategies using ETFs by exchanges has further catalyzed the allocation of funds into these products [6] Future Trends - The ETF market is expected to continue evolving, with an emphasis on multi-asset ETFs and innovative product offerings to meet diverse investor needs [9][10] - Regulatory support for the development of low-volatility and asset allocation products is anticipated to enhance the ETF landscape [9] - The ongoing optimization of index systems will be crucial for the rapid development of various ETF categories, including bond, mixed, commodity, and cross-border ETFs [9][10]