来源：上海证券报·中国证券网 上证报中国证券网讯 11月26日，ETF午间收盘涨跌不一，通信ETF(515880)涨6.64%，通信设备 ETF(159583)涨6.12%，创业板人工智能ETF大成(159242)涨6.06%，航天航空ETF(159208)跌2.23%，航 空航天ETF(159227)跌2.18%，航空航天ETF天弘(159241)跌2.07%。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 根据万家国证港股通科技交易型开放式指数证券投资基金发起式联接基金（基金简称：万家国证港股通 科技ETF发起式联接；基金代码：A类：026107，C类：026108，以下简称"本基金"）招募说明书、基 金份额发售公告的规定，本基金自2025年11月19日至2025年11月26日通过万家基金管理有限公司（以下 简称"本公司"）指定的销售机构公开发售。 依照本公司与华宝证券股份有限公司（下文简称为"华宝证券"）签署的销售代理协议，自2025年11月19 日起，本公司将增加华宝证券代理本基金的基金发售业务，投资者可在华宝证券办理本基金的认购业 务。待基金成立后，投资者也可在华宝证券办理申购、赎回、转换、定投等其他业务。华宝证券可支持 办理认购的份额类别以及具体业务办理流程、规则等以各机构的规定为准，相关业务办理状况亦请遵循 其各自规定执行。 投资者可通过以下途径咨询详情： 1、华宝证券股份有限公司 客服电话：400-820-9898 网址：www.cnhbstock.com 万家基金管理有限公司 2025年11月19日 万家基金管理有限公司关于旗下部分基金新增国信证券 ...

Market Overview - The three major indices experienced fluctuations and declines, with the Shanghai Composite Index down by 0.22%, the Shenzhen Component Index down by 0.44%, and the ChiNext Index down by 0.15% [1][3] - The defense and military industry ETFs outperformed the market, with the military ETF from E Fund (512560.SH) rising by 1.47%, the national defense ETF (512670.SH) increasing by 1.46%, and the aerospace ETF (159208.SZ) gaining 1.44% [1][10] ETF Performance - The passive index funds have become the main contributors to the dividend distribution, with significant payouts from major ETFs. For instance, the Huaxia CSI 300 ETF distributed 2.87 billion yuan, while the E Fund CSI 300 ETF had two distributions totaling 2.76 billion yuan and 1.473 billion yuan [2] - The overall performance of ETFs showed that bond ETFs had the best average return of 0.13%, while commodity ETFs had the worst average return of -3.05% [8] - The top-performing ETFs today included the military ETF from E Fund (512560.SH), the national defense ETF (512670.SH), and the aerospace ETF (159208.SZ), with returns of 1.47%, 1.46%, and 1.44% respectively [10] Sector Performance - In terms of sector performance, the defense and military sector ranked high with a daily increase of 1.07%, while the non-ferrous metals sector saw a decline of 2.72% [6] - Over the past five trading days, the communication and electronics sectors showed strong performance with increases of 6.43% and 6.06% respectively, while the real estate and food and beverage sectors lagged behind with declines of -1.6% and -1.26% [6]

Group 1: ETF Performance - The leading ETF in terms of growth is the Energy Storage Battery ETF Guangfa (159305), which increased by 4.55% [1] - Other notable ETFs that saw significant gains include the Energy Storage Battery ETF (159566) and the Battery ETF (561910), both rising over 4% [1] - The Aerospace and Aviation sector experienced a notable decline, with the Aerospace ETF (159208) dropping by 7.58% [4] Group 2: Policy and Market Trends - The central government has initiated measures to address "involution" competition, with policies aimed at promoting a unified national market and reducing excessive competition in various sectors [2] - Solid-state batteries are identified as a key development direction due to their advantages in safety and energy density, with significant market potential in consumer batteries and electric vehicles [2] Group 3: Trading Activity - The Short-term Bond ETF (511360) recorded the highest trading volume, reaching 37 billion yuan [5] - The 5-Year Local Government Bond ETF (511060) had the highest turnover rate at 225% [6] Group 4: Upcoming ETF Launches - The upcoming launch of the ChiNext Artificial Intelligence ETF (159279) will track the performance of 50 leading companies in the AI sector, focusing on a balanced layout of hardware, software, and applications [7] - The Science and Technology Semiconductor ETF (589020) targets the semiconductor materials and equipment sector, appealing to investors interested in the domestic substitution trend in semiconductors [8]

Group 1 - The ETF market showed mixed performance on the 3rd, with the energy storage battery ETF (159566) leading gains at 2.99% and the aerospace ETF (159208) experiencing the largest decline at 5.92% [2] - The total trading volume of ETFs reached 260.836 billion yuan, with stock ETFs accounting for 112.819 billion yuan, bond ETFs for 93.707 billion yuan, money market ETFs for 17.852 billion yuan, commodity ETFs for 4.369 billion yuan, and QDII ETFs for 32.090 billion yuan [2] - The highest trading volumes among non-money market ETFs were recorded for the GF CSI Hong Kong Innovative Medicine QDII ETF (513120) at 7.298 billion yuan, E Fund CSI Hong Kong Securities Investment Theme ETF (513090) at 6.854 billion yuan, and E Fund ChiNext ETF (159915) at 4.644 billion yuan [2]

Group 1 - The ETF market showed mixed performance on September 3, with the energy storage battery ETFs experiencing gains while aerospace ETFs faced declines [1] - The energy storage battery ETF (159566) increased by 2.99%, and the S&P Biotechnology ETF (159502) rose by 2.84% [1] - The energy storage battery ETF from GF (159305) saw a rise of 2.50%, indicating strong interest in this sector [1] Group 2 - Aerospace ETFs had a negative performance, with the aerospace ETF (159208) dropping by 5.92%, and Tianhong's aerospace ETF (159241) declining by 5.36% [1] - The aerospace ETF (159267) also fell by 5.21%, reflecting a broader trend of weakness in the aerospace sector [1]

Group 1 - Aerospace concept stocks have risen, with Aerospace Electronics hitting the daily limit, and Zhongbing Hongjian and China Satellite increasing by over 2% [1] - The ETF tracking the national aerospace and aviation industry index has increased by over 2% [1] - Analysts believe that China's military enterprises have demonstrated technological advantages in areas such as drones and fighter jets, becoming a major growth driver in military trade [2] Group 2 - The aerospace and military industry is expected to be a core beneficiary as the performance of military sectors shows significant signs of bottoming out [2] - Demand across various fields has gradually improved since the beginning of the year, and it is anticipated that with the implementation and delivery of orders, performance is likely to recover quarter by quarter [2]

Core Viewpoint - The military industry sector has seen significant growth due to geopolitical tensions, with a notable increase in stock prices and ETF investments, indicating strong market interest and potential opportunities [2][5][6]. Group 1: Market Performance - From April 8 to June 30, the defense and military sector experienced a price increase of 27.7%, with over 10% of listed companies reaching historical highs [2]. - The military leader ETF (512710.SH) saw a growth of 76.3 million shares in the first half of the year, ranking third among stock ETFs [2]. - The military ETF (512660.SH) also reported an increase of over 40 million shares, with several defense ETFs growing by more than 10 million shares this year [3]. Group 2: Industry Fundamentals - China's defense budget is projected to reach 1.78 trillion yuan in 2025, reflecting a year-on-year growth of 7.2%, with military spending accounting for 1.26% of GDP [6]. - The global military trade market is expected to grow to $111.6 billion in 2024, a 15.2% increase year-on-year, with China's military trade share estimated at approximately 220 billion yuan [9]. - The C919 aircraft's domestic production rate is at 60%, with a target of producing 150 aircraft annually by 2029, indicating strong growth potential in the aviation sector [9]. Group 3: Strategic Developments - The military sector is entering a phase of accelerated demand recovery, driven by the completion of the "14th Five-Year Plan" and the initiation of the "15th Five-Year Plan" [11]. - The upcoming military parade on September 3 is expected to showcase advanced military technologies, further boosting market sentiment and interest in the military sector [14]. - The military industry is anticipated to undergo significant upgrades, with a focus on intelligent and unmanned systems, aligning with global trends in military modernization [11][14]. Group 4: ETF Investment Landscape - Despite moderate returns, military ETFs have shown strong capital attraction, with all five military ETFs yielding over 8% this year [15]. - The largest military ETFs, including military ETF (512660.SH) and military leader ETF (512710.SH), reported returns of 8.2% and 8.7% respectively, outperforming the Shanghai Composite Index [15]. - The index tracking the military sector, the China Securities Military Index, has a cumulative return of 75.78% since its inception, indicating strong long-term performance [21].

Group 1 - The logistics ETF (516910) leads the market with a gain of 3.56% [1] - The CSI 2000 ETF (563200) increased by 1.94% [1] - The Hang Seng ETF (159312) rose by 1.27% [1] Group 2 - The innovative drug ETF (159748) experienced the largest decline, falling by 2.78% [1] - The aerospace ETF (159208) decreased by 1.21% [1] - The Hong Kong Stock Connect innovative drug ETF (159570) dropped by 1.19% [1]

Group 1 - The aerospace industry is experiencing growth due to escalating geopolitical conflicts and increasing global military expenditures, with China's military enterprises gaining technological advantages in drones, fighter jets, and missiles [1] - China's share in the global military trade is currently small, but there is significant potential for growth as Chinese weaponry gains recognition in international markets for its high performance and cost-effectiveness [1] - The aerospace sector is identified as a core beneficiary of these trends, with the potential to expand its market space significantly [1] Group 2 - Aerospace ETFs, specifically the Aerospace ETF (159227) and Aerospace ETF Tianhong (159241), saw increases of 1.46% and 1.45% respectively, with the former having a larger scale of 229 million units and a half-day trading volume of 33.5855 million yuan [2] - The National Aerospace Index (code CN5082) consists of 50 stocks selected based on free float market capitalization, ensuring a representative and flexible index that reflects the overall performance of the aerospace sector [2] - The index is weighted by free float market capitalization, with a maximum weight of 15% for any single stock, balancing the influence of large-cap core companies with opportunities for smaller growth firms [2] Group 3 - Key stocks in the National Aerospace Index include: - Guoke Technology (002625) with a weight of 10.84% - Aero Engine Corporation of China (600893) with a weight of 8.49% - AVIC Shenyang Aircraft Corporation (600760) with a weight of 7.41% - AVIC Xi'an Aircraft Industry Group (000768) with a weight of 5.72% [3] - Other notable stocks include AVIC Aircraft Company (600372), Aerospace Electronic Equipment (600879), and China Satellite Communications (600118), each contributing to the index's overall performance [3]