截至2025年10月9日 09:35，中证全指自由现金流指数(932365)上涨0.48%，成分股白银有色(601212)上涨 10.00%，洛阳钼业(603993)上涨5.92%，盐湖股份(000792)上涨4.17%，南山铝业(600219)上涨3.54%，天 山铝业(002532)上涨3.28%。自由现金流ETF基金(159233)上涨0.53%，最新价报1.13元。拉长时间看， 截至2025年9月30日，自由现金流ETF基金近2周累计上涨1.35%。 流动性方面，自由现金流ETF基金盘中换手0%，成交1.17万元。拉长时间看，截至9月30日，自由现金 流ETF基金近1年日均成交2227.16万元。规模方面，自由现金流ETF基金最新规模达2.51亿元，创近3月 新高。从资金净流入方面来看，自由现金流ETF基金近22天获得连续资金净流入，最高单日获得 1919.27万元净流入，合计"吸金"1.49亿元，日均净流入达676.90万元。从收益能力看，截至2025年9月 30日，自由现金流ETF基金自成立以来，最高单月回报为7.80%，最长连涨月数为4个月，最长连涨涨幅 为12.71%，涨跌月数比为4/0，上涨 ...

Group 1 - The core viewpoint of the article highlights the recent rebalancing of the CSI All Share Free Cash Flow Index, which involved a high turnover rate of 61% with 39 stocks being added and 39 stocks being removed, driven by weakening free cash flow rates and profit-taking from outperforming stocks [1] - The sectors with the largest weight reductions include agriculture, non-ferrous metals, and retail, while the sectors with the largest weight increases are home appliances, electronics, and building materials, indicating a shift in investment focus [1] - The index exhibits a style characteristic of high dividends, high profitability, low valuation, and low volatility, appealing to investors seeking stable returns [1] Group 2 - The latest scale of the Free Cash Flow ETF Fund (159233) reached 243 million, marking a recent high, and it is positioned as a value-style ETF excluding financials and real estate [2][3] - The fund has shown a 0.63% increase as of September 29, 2025, with a weekly increase of 1.45%, ranking 3rd among comparable funds [2] - The fund has experienced continuous net inflows over the past 21 days, totaling 142 million, with a maximum single-day inflow of 19.19 million [4] Group 3 - The fund's maximum drawdown since inception is 3.76%, with a relative benchmark drawdown of 0.24%, indicating a relatively stable performance [5] - The management fee for the fund is 0.50%, and the custody fee is 0.10%, which are competitive rates for investors [6] - The fund closely tracks the CSI All Share Free Cash Flow Index, which consists of 100 stocks with high free cash flow rates, reflecting the overall performance of companies with strong cash flow generation capabilities [7]

Core Viewpoint - The performance of the CSI All Share Free Cash Flow Index and its related ETF reflects mixed results among constituent stocks, with notable gains and losses observed in specific companies, indicating a volatile market environment [1][2]. Group 1: Index Performance - As of September 29, 2025, the CSI All Share Free Cash Flow Index (932365) decreased by 0.01% [1]. - The index's constituent stocks showed varied performance, with Xinyi Silver (000426) leading gains at 9.89%, while Jihong Co. (002803) experienced the largest decline at 9.75% [1]. - The Free Cash Flow ETF (159233) has seen a recent price of 1.11 yuan, with a cumulative increase of 11.41% over the past three months as of September 26, 2025 [1]. Group 2: Fund Liquidity and Scale - The Free Cash Flow ETF recorded a turnover rate of 2.96% during trading, with a total transaction volume of 6.9722 million yuan [1]. - The fund's total scale reached 236 million yuan, marking a recent one-month high [1]. - The number of shares for the Free Cash Flow ETF reached 213 million, also a recent one-month high [1]. Group 3: Fund Inflows and Returns - Over the past 20 days, the Free Cash Flow ETF has experienced continuous net inflows, with a peak single-day net inflow of 19.1927 million yuan, totaling 138 million yuan in net inflows [1]. - Since its inception, the Free Cash Flow ETF has achieved a maximum monthly return of 7.80% and a longest consecutive monthly gain of 3 months, with an average monthly return of 4.07% [2]. Group 4: Drawdown and Fees - The maximum drawdown for the Free Cash Flow ETF since inception is 3.76%, with a relative benchmark drawdown of 0.24% [3]. - The management fee for the Free Cash Flow ETF is set at 0.50%, while the custody fee is 0.10% [3]. - The tracking error for the Free Cash Flow ETF over the past month is 0.066%, indicating close tracking of the CSI All Share Free Cash Flow Index [3]. Group 5: Top Holdings - As of August 29, 2025, the top ten weighted stocks in the CSI All Share Free Cash Flow Index accounted for 57.03% of the index, with notable companies including China National Offshore Oil (600938) and Wuliangye (000858) [3].

Core Viewpoint - The report highlights the performance and metrics of the Free Cash Flow ETF Fund, indicating a positive trend in both fund inflows and returns, alongside a strong tracking accuracy of the underlying index. Group 1: Fund Performance - As of September 26, 2025, the Free Cash Flow ETF Fund has seen a recent increase of 0.27% over the past week, ranking 1 out of 13 comparable funds [1] - The fund's latest scale reached 228 million yuan, marking a new high in the past month [1] - The fund has experienced continuous net inflows over the past 19 days, totaling 130 million yuan, with a peak single-day inflow of 19.19 million yuan [2] Group 2: Return Metrics - Since its inception, the fund's highest monthly return was 7.80%, with the longest consecutive months of gains being 3, and the maximum gain during this period was 12.56% [2] - The average return for months with gains is 4.07%, with a 100% probability of profit in those months and a 91.30% probability of profitability [2] - The maximum drawdown since inception is 3.76%, with a relative benchmark drawdown of 0.24% [2] Group 3: Fund Fees and Tracking Accuracy - The management fee for the Free Cash Flow ETF Fund is 0.50%, while the custody fee is 0.10% [3] - The fund has a tracking error of 0.066% over the past month, closely following the CSI All Index Free Cash Flow Index [4] Group 4: Index Composition - The CSI All Index Free Cash Flow Index includes 100 high free cash flow rate listed companies, with the top ten weighted stocks accounting for 57.03% of the index [4] - The top ten stocks in the index include China National Offshore Oil Corporation, Wuliangye, and China Southern Airlines, among others [4]

Core Viewpoint - The performance of the CSI All Share Free Cash Flow Index and its related ETF has shown positive trends, indicating strong cash flow generation capabilities among the constituent companies. Group 1: Index Performance - As of September 24, 2025, the CSI All Share Free Cash Flow Index rose by 0.67%, with notable increases in constituent stocks such as Anfu Technology (up 6.19%) and Yaxiang Integration (up 5.06%) [1] - Over the past three months, the Free Cash Flow ETF has accumulated a return of 11.56% [1] - The Free Cash Flow ETF experienced a turnover rate of 4.72% with a total transaction volume of 10.14 million yuan [1] Group 2: Fund Inflows and Returns - The Free Cash Flow ETF has seen continuous net inflows over the past 17 days, with a peak single-day inflow of 19.19 million yuan, totaling 118 million yuan in net inflows [1] - Since its inception, the Free Cash Flow ETF has achieved a maximum monthly return of 7.80% and a longest consecutive monthly gain of 12.56% [2] - The fund has a historical monthly profit probability of 92.54% and a maximum drawdown of 3.76% since inception [2] Group 3: Index Composition - As of August 29, 2025, the top ten weighted stocks in the CSI All Share Free Cash Flow Index accounted for 57.03% of the index, including China National Offshore Oil Corporation and Wuliangye [3] - The top ten stocks include major companies such as Gree Electric Appliances and Muyuan Foods, reflecting a diverse range of sectors [3] Group 4: Stock Performance - The Free Cash Flow ETF includes various stocks with different weightings, such as Midea Group (2.66%) and China Shenhua (2.64%), indicating a balanced portfolio [5]

Core Viewpoint - The performance of the CSI All Share Free Cash Flow Index and its associated ETF has shown positive trends, indicating strong cash flow generation capabilities among the constituent companies. Group 1: Index and ETF Performance - As of September 19, 2025, the CSI All Share Free Cash Flow Index (932365) increased by 0.23%, with notable gains from constituent stocks such as Xuefeng Technology (603227) up 8.79% and Tailong Co., Ltd. (300650) up 4.62% [1] - The Free Cash Flow ETF (159233) rose by 0.27%, with a latest price of 1.11 yuan, and has accumulated a 1.09% increase over the past two weeks [1] - The Free Cash Flow ETF has seen a trading volume turnover of 1.26% and a total transaction value of 2.5331 million yuan, with an average daily transaction value of 23.3473 million yuan over the past year [1] Group 2: Fund Size and Inflows - The latest size of the Free Cash Flow ETF reached 200 million yuan, marking a one-month high, with the latest share count at 18 million shares, also a one-month high [1] - The ETF has experienced continuous net inflows over the past 14 days, with a maximum single-day net inflow of 19.1927 million yuan, totaling 101 million yuan in net inflows, averaging 7.2282 million yuan daily [1] Group 3: Return and Risk Metrics - Since its inception, the Free Cash Flow ETF has achieved a maximum monthly return of 7.80%, with the longest consecutive monthly gain of 3 months and a total gain of 12.56% [2] - The ETF has a historical monthly profit probability of 100% and a 93.75% probability of monthly profitability, with a 100% probability of profitability over a 3-month holding period [2] - The maximum drawdown since inception is 3.76%, with a relative benchmark drawdown of 0.24% [2] Group 4: Tracking Accuracy and Composition - The Free Cash Flow ETF has a tracking error of 0.069% over the past month, closely tracking the CSI All Share Free Cash Flow Index [4] - The index comprises 100 listed companies with high free cash flow rates, reflecting the overall performance of companies with strong cash flow generation capabilities [4] - As of August 29, 2025, the top ten weighted stocks in the index include China National Offshore Oil Corporation (600938) and Wuliangye Yibin Co., Ltd. (000858), accounting for a total of 57.03% of the index [5]

Group 1 - The core viewpoint highlights that the Free Cash Flow ETF Fund (159233) has outperformed the market, particularly in sectors like non-ferrous metals and coal, with a rise of over 0.5% [1] - As of September 17, 2025, the CSI Free Cash Flow Index (932365) increased by 0.39%, with notable gains from stocks such as Mould Technology (000700) up 10.02% and Guizhou Moutai (000858) being among the top weighted stocks [1][3] - The Free Cash Flow ETF Fund has shown a weekly increase of 0.36% as of September 16, 2025, indicating positive momentum in the fund's performance [1] Group 2 - The Free Cash Flow ETF Fund reached a new high in size at 185 million yuan and in shares at 165 million as of the latest report [2] - The fund has experienced continuous net inflows over the past 12 days, with a total of 84.34 million yuan and an average daily net inflow of 7.02 million yuan [2] - The fund's historical performance shows a maximum monthly return of 7.80% and a 100% probability of profit over a three-month holding period [2] Group 3 - The Free Cash Flow ETF Fund closely tracks the CSI Free Cash Flow Index, which includes 100 companies with high free cash flow rates, reflecting strong cash flow generation capabilities [3] - The top ten weighted stocks in the CSI Free Cash Flow Index account for 57.03% of the index, with major companies like China National Offshore Oil Corporation (600938) and Wuliangye (000858) included [3]

Group 1 - The core index, the CSI All Share Free Cash Flow Index (932365), increased by 0.80% as of September 11, 2025, with notable stock performances including Xinhua Department Store (600785) up 10.03% and Guiding Compass (300803) up 8.06% [3] - The Free Cash Flow ETF Fund (159233) rose by 0.90%, reaching a latest price of 1.13 yuan, and has seen a cumulative increase of 4.10% over the past month [3] - The Free Cash Flow ETF Fund recorded a trading volume of 650.66 million yuan with a turnover rate of 3.98% [3] Group 2 - The Free Cash Flow ETF Fund has achieved a maximum monthly return of 7.80% since its inception, with a longest consecutive monthly gain of 3 months and an average monthly return of 4.07% [4] - The fund's maximum drawdown since inception is 3.76%, with a tracking error of 0.073% over the past month [4] - The fund closely tracks the CSI All Share Free Cash Flow Index, which includes 100 listed companies with high free cash flow rates [4] Group 3 - As of August 29, 2025, the top ten weighted stocks in the CSI All Share Free Cash Flow Index include China National Offshore Oil Corporation (600938) and Wuliangye (000858), collectively accounting for 57.03% of the index [5] - The Free Cash Flow ETF Fund includes various stocks, with Midea Group (000333) showing a slight decline of 0.61% and China Shenhua (601088) down 0.05% [7]

Core Insights - The China Securities Index Free Cash Flow Index (932365) has shown a positive performance, with a 0.58% increase as of September 11, 2025, and notable gains in constituent stocks such as Xinhua Department Store (600785) up by 10.03% and Muyuan Foods (002714) up by 6.53% [3][4]. Performance Summary - The Free Cash Flow ETF Fund (159233) has increased by 0.63%, with a latest price of 1.12 yuan, and has seen a cumulative increase of 4.10% over the past month [3]. - The fund's trading volume was 117.53 million yuan with a turnover rate of 0.72%, and the average daily trading volume over the past year was 24.01 million yuan [3]. - The fund's latest scale reached 163 million yuan, marking a new high for the past month, with a total of 146 million shares outstanding [3]. Fund Inflows - The Free Cash Flow ETF Fund has experienced continuous net inflows over the past eight days, with a peak single-day net inflow of 19.19 million yuan, totaling 62.83 million yuan in net inflows, averaging 7.85 million yuan per day [3]. Return Metrics - Since its inception, the Free Cash Flow ETF Fund has achieved a maximum monthly return of 7.80%, with the longest streak of monthly gains being three months and a maximum cumulative gain of 12.56% [4]. - The fund has a historical monthly profit percentage of 100.00% and a monthly profit probability of 93.10%, with a 100.00% probability of profit over a three-month holding period [4]. Risk and Fee Structure - The maximum drawdown since inception is 3.76%, with a relative benchmark drawdown of 0.24% [4]. - The management fee for the fund is 0.50%, and the custody fee is 0.10% [4]. Index Composition - As of August 29, 2025, the top ten weighted stocks in the China Securities Index Free Cash Flow Index include China National Offshore Oil Corporation (600938), Wuliangye (000858), and COSCO Shipping Holdings (601919), collectively accounting for 57.03% of the index [5].

Group 1 - The CSI All Share Free Cash Flow Index (932365) decreased by 0.41% as of September 3, 2025, with component stocks showing mixed performance [2] - Silver and Nonferrous (601212) led the gains with an increase of 10.09%, while Feiya (000026) experienced the largest decline at 4.58% [2] - The Free Cash Flow ETF (159233) fell by 0.53%, with a latest price of 1.13 yuan, but has seen a cumulative increase of 4.42% over the past two weeks, ranking 3rd out of 13 comparable funds [2] Group 2 - The Free Cash Flow ETF has a turnover rate of 3.95% and a trading volume of 5.0736 million yuan, with an average daily trading volume of 17.5566 million yuan over the past week [2] - The latest net inflow of funds into the Free Cash Flow ETF was 7.9184 million yuan, with a total of 38.3283 million yuan net inflow over the last five trading days [2] Group 3 - Since its inception, the Free Cash Flow ETF has achieved a maximum monthly return of 7.80% and a longest consecutive monthly gain of 3 months, with an average monthly return of 4.07% [3] - The maximum drawdown since inception was 3.28%, with a recovery time of 12 days, indicating a relatively quick recovery compared to comparable funds [3] - The management fee for the Free Cash Flow ETF is 0.50%, and the custody fee is 0.10% [3] Group 4 - As of August 29, 2025, the top ten weighted stocks in the CSI All Share Free Cash Flow Index accounted for 57.03% of the index, including China National Offshore Oil (600938) and Wuliangye (000858) [4] Group 5 - The Free Cash Flow ETF includes various stocks with different weightings, such as Midea Group (000333) at 2.66% and China Shenhua (601088) at 2.64%, with some stocks experiencing slight declines [6]