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， 成分股聚焦高自由现金流率公司，政策红利持续释放叠加市场关注度持续上升，自由现金流ETF成为投 资者资产组合中兼具成长潜力与政策确定性的优质配置选择。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。 每日经济新闻 12月16日早盘，市场低开低走，国证自由现金流指数震荡下行跌超1%，成分股涨跌互现，红旗连锁涨 停，大商股份、重庆百货、首旅酒店等跟涨。相关ETF方面，同类规模最大的自由现金流ETF （159201）获资金抢筹，近10个交易日合计"吸金"超3.15亿元。 光大证券研报认为，A股跨年行情可期：一方面，未来国内经济政策有望持续发力，经济增长有望保持 在合理区间，进一步夯实资本市场繁荣发展的基础；另一方面，政策红利持续释放，有望提振资本市场 信心，进一步吸引各类资金积极流入。此外，从历史来看，"十三五"和"十四五"开局之年A股市场均有 不错的表现。这一积极表现有望在2026年得到延续。 ...

Group 1 - The A-share market experienced a low opening on November 5, with the Guozheng Free Cash Flow Index declining approximately 0.65%. Stocks such as Changbao Co. and Hailu Heavy Industry hit the daily limit up, while Yun Aluminum and Xiamen Xiangyu led the declines [1] - The largest free cash flow ETF (159201) has seen continuous net inflows over the past 16 days, totaling 0.893 billion yuan, reaching a new high of 5.418 billion yuan in total assets [1] - According to China Merchants Securities, the market is entering a period of performance, event, and policy vacuum, leading to a phase of volatility as it awaits new developments by year-end. Corporate earnings showed a significant rebound in Q3, with a notable improvement in free cash flow, indicating stable fundamentals in the A-share 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. The index is characterized by high quality and strong risk resistance, suitable for long-term investment [2] - The fund management fee is set at an annual rate of 0.15%, and the custody fee at 0.05%, both of which are among the lowest in the market, maximizing benefits for investors [2]

Core Viewpoint - The A-share market is experiencing a volume contraction while the Guozheng Free Cash Flow Index is showing an upward trend, with a current increase of approximately 0.8% [1] Group 1: Market Performance - The Guozheng Free Cash Flow Index is rising, with component stocks such as Taiji Industry and Guodian Nanzi hitting the daily limit [1] - Other stocks like Tailong Co., Yun Aluminum, and Luoyang Molybdenum are also seeing gains [1] - The largest free cash flow ETF (159201) is actively trading and frequently experiencing premium transactions, reflecting strong market interest [1] Group 2: Fund Inflows - The free cash flow ETF has seen continuous net inflows over the past five days, totaling 191 million yuan [1] Group 3: Analyst Insights - The chief strategy analyst at Galaxy Securities suggests that investors should focus on "steady allocation, risk diversification, and long-term participation," avoiding speculative trading [1] - The chief strategy analyst at Kaiyuan Securities indicates that the market is expected to continue breaking through after a phase of "rebalancing," as long as the core driving forces remain intact [1] Group 4: Fund Characteristics - 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 holdings 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]