（责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 自由现金流ETF（159201）及其联接基金（A：023917；C：023918）紧密跟踪国证自由现金流指 数，经流动性、行业、ROE稳定性筛选后，选取自由现金流为正且占比高的股票，指数质地高，抗风险 能力强，适合底仓配置，满足长线投资配置需求。基金管理费年费率为0.15%，托管费年费率为 0.05%，均为市场最低费率水平，最大程度让利投资者。 每日经济新闻 12月31日，A股三大指数集体高开，沪指涨0.09％，深成指涨0.17％，创业板涨0.15％。国证自由现 金流指数震荡上行，现涨约0.3%，成分股中创物流、烽火通信涨停。相关ETF方面，同类规模最大的自 由现金流ETF（159201）昨日净流入超1.3亿元，最新规模达84.72亿元，资金抢筹特征显著。 中信证券在2026年A股市场投资策略报告中分析认为，随着存款利率、银行理财收益 ...

自由现金流ETF（159201）及其联接基金（A：023917；C：023918）紧密跟踪国证自由现金流指数， 经流动性、行业、ROE稳定性筛选后，选取自由现金流为正且占比高的股票，指数质地高，抗风险能力 强，适合底仓配置，满足长线投资配置需求。基金管理费年费率为0.15%，托管费年费率为0.05%，均 为市场最低费率水平，最大程度让利投资者。 中泰证券指出，单一股息率因子难以穿越利率下行周期，应在判断利率走势的基础上定点增强；长期视 角下利率仍将缓速下行，短期视角下利率进入平台期，后市的高股息策略应从"稳盈利"和"高成长"两维 度增强。中泰证券提出采取"稳盈利、高成长、强现金、低波动"四维因子对高股息策略增强，因子各有 适用场景，需随利率节奏动态切换：利率快速下行阶段"低波动"最优，靠高杠杆、稳定现金流行业获取 估值缓冲；利率平台震荡阶段"高成长"领跑，以盈利弹性兼顾股息打底赢得超额；利率缓速下行阶 段"稳盈利"最优，借盈利韧性锁定分红能见度。 截至12月12日13点 27分，自由现金流ETF（159201）涨幅0.85%，成交额超2亿元。持仓股中，常宝股 份、海陆重工、安孚科技和亚翔集成涨停。同类规模最大 ...

Group 1 - The A-share market opened lower on December 9, with the national index of free cash flow experiencing fluctuations and a decline of approximately 1.3%, while stocks like Weichai Heavy Machinery, China Power, and Chufeng Power led the gains [1] - The largest free cash flow ETF (159201) has seen continuous net inflows over the past 22 days, totaling 2.236 billion yuan, reaching a new high of 7.824 billion yuan since its inception [1] - Since mid-November, the A-share market has shown a trend of shrinking fluctuations, with total market turnover oscillating between 1.5 trillion yuan and 1.9 trillion yuan, and recently surpassing 2 trillion yuan again after 16 trading days [1] Group 2 - Huafu Securities' research report suggests that the "spring excitement" may start early with the year-end market rally, indicating a potential buying opportunity if a "double bottom" pattern emerges [1] - The free cash flow ETF (159201) and its linked funds (A: 023917; C: 023918) closely track the national index of free cash flow, addressing the shortcomings of traditional dividend strategies by focusing on internal growth capabilities and emphasizing financial health and sustainability [1] - The fund management fee is set at an annual rate of 0.15%, and the custody fee at 0.05%, both of which are the lowest in the market, maximizing benefits for investors [1]

Group 1 - The A-share market experienced a weak adjustment on December 9, with the Guozheng Free Cash Flow Index dropping over 1.4% during the session, while stocks like Hongqi Chain, China Power, and Weichai Heavy Industry led the gains, and companies such as Luoyang Molybdenum, China Aluminum, and Nanshan Aluminum faced declines [1] - The largest free cash flow ETF (159201) saw significant capital inflow, accumulating a total of 2.236 billion yuan over the past 22 days, with a peak single-day net inflow of 253 million yuan [1] - According to a report from Zhongyin Securities, the market remains in an upward trend supported by capital and policy, with expectations for A-shares to continue rising next year due to valuation support and stabilizing profits, indicating an early start to the cross-year allocation market [1] Group 2 - The free cash flow ETF (159201) and its linked funds (A: 023917; C: 023918) closely track the Guozheng Free Cash Flow Index, selecting stocks with positive and high free cash flow after liquidity, industry, and ROE stability screening, indicating high quality and strong risk resistance suitable for long-term investment [1] - The annual management fee for the fund is 0.15%, and the custody fee is 0.05%, both representing the lowest rates in the market, maximizing benefits for investors [1]

Core Viewpoint - The Guozheng Free Cash Flow Index is experiencing low-level fluctuations, with a recent decline of approximately 0.8%. However, certain component stocks like JieJia WeiChuang have seen gains exceeding 7% [1] Group 1: Market Performance - The largest free cash flow ETF (159210) has seen continuous net inflows over the past 21 days, totaling 2.151 billion yuan, reaching a new high of 7.765 billion yuan in total assets [1] - The recent adjustment of risk factors for insurance companies' stock investments by the Financial Regulatory Bureau is expected to release more insurance funds into the market, injecting additional liquidity [1] Group 2: Investment Opportunities - The free cash flow ETF (159201) and its linked funds (A: 023917; C: 023918) closely track the Guozheng Free Cash Flow Index, focusing on companies with high free cash flow rates. The ongoing policy benefits and increasing market attention make this ETF a quality investment choice with growth potential and policy certainty [1] - The management fee for the fund is set at an annual rate of 0.15%, and the custody fee is at 0.05%, both of which are the lowest in the market [1]

Group 1 - The core viewpoint of the news highlights the strong performance of the Free Cash Flow ETF (159201), which has seen a 1.26% increase and a trading volume exceeding 4.4 billion yuan, leading its category [1] - The ETF has experienced continuous capital inflow for 20 consecutive trading days, totaling a net inflow of 2.106 billion yuan, indicating growing investor interest [1] - The current size of the Free Cash Flow ETF (159201) has reached 7.615 billion yuan with 6.405 billion shares, both marking all-time highs since its inception [1] Group 2 - According to Everbright Securities, the recent rise in the A-share market is driven by multiple favorable factors, including expectations of a Federal Reserve rate cut in December and easing concerns over the AI bubble in the US stock market [1] - The market is expected to remain in a bull phase, but the duration of the bull market may be more significant than the magnitude of the increase, as guided by national policies promoting a "slow bull" [1] - In terms of asset allocation, short-term focus should be on defensive and consumer sectors, as previously lagging sectors may perform better during market fluctuations, particularly high dividend and consumer stocks [1][2]

12月4日午后，A股市场涨跌分化，自由现金流ETF（159201）小幅调整，持仓股西部矿业、太龙股份、 林州重机等领涨。相关ETF方面，同类规模最大的自由现金流ETF（159210）近19天获得连续资金净流 入，合计"吸金"20.72亿元，最新规模达75.75亿元，创成立以来新高。 临近岁末，国投证券复盘了2000年至今A股在岁末（12月）年初（次年1月月）的大盘走势和指数演绎 情况，整体而言，岁末年初爆发行情的可能性较大，近十年中，仅有三年的岁末年初没有行情，而从主 要指数的表现上看，岁末年初行情大盘强于小盘，价值风格胜率高。 自由现金流ETF（159201）及其联接基金（A：023917；C：023918）紧密跟踪国证自由现金流指数， 经流动性、行业、ROE稳定性筛选后，选取自由现金流为正且占比高的股票，指数质地高，抗风险能力 强，适合底仓配置，满足长线投资配置需求。基金管理费年费率为0.15%，托管费年费率为0.05%，均 为市场最低费率水平，最大程度让利投资者。 （文章来源：每日经济新闻） ...

Core Viewpoint - The A-share market shows mixed performance with the National Index of Free Cash Flow fluctuating positively, led by stocks like Dayang Electric and Yaxiang Integration, while a significant inflow of funds into the largest free cash flow ETF indicates strong investor interest [1] Group 1: Market Performance - On December 3, the three major A-share indices opened with mixed results, while the National Index of Free Cash Flow showed positive fluctuations [1] - The largest free cash flow ETF (159210) has seen continuous net inflows over the past 18 days, totaling 2.027 billion yuan, reaching a new high of 7.499 billion yuan in total size since its inception [1] Group 2: Investment Strategy - According to Industrial Securities, the end of the year and the beginning of the year exhibit significant calendar effects, characterized by a "value platform, growth performance" approach [1] - The market anticipates increased policy support for stable growth as the year-end meetings approach, with a focus on achieving a strong economic start [1] - The free cash flow strategy addresses the limitations of traditional dividend strategies by emphasizing financial health and sustainability, aligning with the needs of investors seeking long-term growth and capital appreciation [1] Group 3: Fund Management - The management fee for the free cash flow ETF and its linked funds is set at an annual rate of 0.15%, while the custody fee is at 0.05%, both representing the lowest rates in the market, maximizing benefits for investors [1]

Core Viewpoint - The market is experiencing a potential upward breakout in December, driven by positive economic policy expectations and strong inflows into cash flow ETFs, indicating a favorable investment environment [1]. Group 1: Market Performance - On December 2, the Guozheng Free Cash Flow Index opened lower but showed an upward trend, with a narrowed decline of approximately 0.15% [1]. - Leading stocks include Yaxiang Integration, Huaren Health, and Yifeng Pharmacy, which are driving the index performance [1]. Group 2: ETF Inflows - The largest free cash flow ETF (159210) has seen continuous net inflows over the past 17 days, totaling 1.981 billion yuan, reaching a new high of 7.466 billion yuan in total assets [1]. - The free cash flow ETF (159201) and its linked funds (A: 023917; C: 023918) closely track the Guozheng Free Cash Flow Index, focusing on stocks with positive and high cash flow [1]. Group 3: Investment Strategy - The index is characterized by high quality and strong risk resistance, making it suitable for long-term investment and core portfolio allocation [1]. - The annual management fee for the funds is 0.15%, and the custody fee is 0.05%, both of which are the lowest in the market, maximizing benefits for investors [1]. Group 4: Economic Outlook - According to招商证券, after three months of market consolidation, the probability of a December breakout leading to a year-end rally is high [1]. - The upcoming 2026 is seen as a critical year ahead of the 20th National Congress, with expectations for more proactive economic policies from the December Politburo meeting and Central Economic Work Conference, which could enhance confidence in economic recovery and corporate profitability [1].

Group 1 - The A-share major indices strengthened on November 27, with the Guozheng Free Cash Flow Index rising over 0.5%, led by constituent stocks such as Tailong Co., Anfu Technology, and Qin'an Co. [1] - The largest free cash flow ETF (159201) experienced significant capital inflow, accumulating a total of 1.778 billion yuan over the past 14 days, reaching a new high of 7.105 billion yuan in total scale since its inception [1]. - Guoxin Securities' report indicates that the A-share index has limited downside potential near the 4000-point mark, but market volatility may increase due to cautious capital behavior amid geopolitical disturbances [1]. Group 2 - The free cash flow ETF (159201) and its linked funds (A: 023917; C: 023918) closely track the Guozheng Free Cash Flow Index, selecting stocks with positive and high free cash flow after liquidity, industry, and ROE stability screening [1]. - The index is characterized by high quality and strong risk resistance, making it suitable for core portfolio allocation and long-term investment needs [1]. - The fund management fee is set at an annual rate of 0.15%, and the custody fee at 0.05%, both of which are the lowest in the market, maximizing benefits for investors [1].