周五，能源业ETF收涨0.45%，可选消费ETF收涨0.03%。全球航空业ETF收跌2.26%。生物科技指数ETF 收跌1.54%，区域银行ETF收跌1.07%，金融业ETF、银行业ETF收跌1.04%。 | 能源业ETF - ... | 89.13 | +0.40 (+0.45%) | 1508.41万股 | 223.20亿 | +5.72% | 그 … | | --- | --- | --- | --- | --- | --- | --- | | us XLE | 89.29 | +0.16 (+0.18%) 盘后 | | | | | | 可选消费ET ... | 221.43 | +0.06 (+0.03%) | 334.52万股 | 278.12亿 | -0.82% | = == | | us XLY | 221.02 | -0.41 (-0.19%) 盘后 | | | | | | 半导体ETF - ... | 287.49 | -0.03 (-0.01%) | 567.59万股 | 33.98亿 +18.71% | | = == | | us SMH | 287.26 | -0.23 (-0.08% ...

| ＂华安国证航天航空行业ETF上网发售提示性公告 | 2025-07-07 | ■ | | --- | --- | --- | | 华安中债1-3年政策金融债基金经理变更公告 | 2025-07-05 | " | | ■ 华安添荣中短债基金经理变更公告 | 2025-07-05 | 『 华安顺穗债券基金经理变更公告 | | ■ 华安双债添利债券基金经理变更公告 | 2025-07-05 | # 华安锦源0-7年金融债定开债基金经 | | 华安锦溶0-5年金融债定开债基金经理变更公告 | 2025-07-05 | 『 华安新活力灵活配置混合提高份额净 | 7月5日，华安基金接连发布8条基金经理变更公告，引起市场关注。 5月份，华安基金发布公告，基金经理李欣因个人原因即将离任，新任基金经理将于5月6日正式任职。李欣将在5月6日卸任所有在管产品的基金经理。Wind 资讯数据显示，李欣的投资管理年限已将近10年，截至一季度末，在管7只基金总规模合计80.16亿元。 此前，华安基金的大股东国泰君安与海富通基金的大股东海通证券合并。合并后，国泰海通证券将持有4张公募牌照，不符合"一参一控一牌"的监管要求， 需进行牌照取 ...

张晓芹、林子钧的名字总是"组团出现"，并且还有重复认购同一主题产品的情况。例如，两人都进入了 南方中证全指自由现金流ETF、工银中证全指自由现金流ETF、天弘国证航天航空行业ETF、富国恒指 港股通ETF、广发恒生港股通科技主题ETF等新品的前十大持有人名单，林子钧的累计认购总额超5500 万元，张晓芹的累计认购总额也在3000万元以上。 近年来，随着被动投资的普及和ETF等指数工具的丰富，越来越多的个人投资者选择借道ETF参与市场 投资。中国证券报记者梳理发现，今年上半年多位大资金体量的个人投资者频繁出现在ETF首发认购前 十大持有人名单中，其中不乏累计认购金额高达5000万元以上的个人投资者。 中国证券报记者了解到，在ETF"重首发"的行业潜规则下，部分高净值的个人投资者已成为ETF首发 时"帮忙资金"的来源之一。此外由于各种原因，部分私募资金可能也会采取挂名的形式，参与ETF配置 或者提供流动性做市服务。整体而言，随着ETF工具供给的丰富和指数投资的普及，越来越多的个人投 资者正从个股投资转向指数化投资，标志着个人投资从"精选个股"向"借力专业工具"的转变。 ● 本报记者王鹤静 高净值个人投资者频频参与 ...

（3）加权方式：标普生物科技精选行业指数则是采用修正等权重加权，它相当于是在传统等权重法的基础上，通过设定规则对权重进行调整，旨在平 衡指数中各成分股的影响力，避免个别大盘股对指数表现的过度主导。而纳斯达克生物科技指数是市值加权，市值较大的公司在指数中的权重更高。 今日，金融板块的银行、券商等集体走强，多只相关主题的ETF涨幅居前，除了这些ETF，在涨幅榜前列的还有标普生物科技、纳指生物科技的主题 ETF。 如果看背后跟踪的指数，主要涉及的是标普生物科技精选行业指数和纳斯达克生物科技指数，那么这两个指数都有什么异同点?本期我们就来聊一聊。 不同点： （1）选样范围：标普生物科技精选行业指数的成分股来源于GICS（全球行业分类系统）子行业中的生物技术(35201010)、生命科学工具和服务 (35203010)。而纳斯达克生物科技指数的成分股包含的是在纳斯达克上市并且行业基准分类为生物技术或制药，同时符合其他资格标准的证券。 （2）成分股分布：标普生物科技精选行业指数的成分股主要在生物科技以及生命科学工具和服务，截至2025年6月30日，成分股数量为124只。 | NUMBER OF CONSTITUENTS ...

周三（7月9日），生物科技指数ETF涨2.29%，公用事业ETF、网络股指数ETF、全球科技股指数ETF均 涨超0.8%。半导体ETF、科技行业ETF、可选消费ETF均涨超0.5%。金融业ETF、金融业ETF涨超 0.3%。而日常消费品ETF、能源业ETF跌超0.5%。 ...

Quantitative Models and Construction Methods - **Model Name**: Guozheng Aerospace and Aviation Industry Index (CN5082.CNI) **Model Construction Idea**: The index is designed to reflect the market performance of aerospace and aviation industry companies listed on the Shanghai, Shenzhen, and Beijing Stock Exchanges [41][42] **Model Construction Process**: 1. **Sample Space**: Select A-shares and red-chip enterprises' depositary receipts that meet the following conditions: - Non-ST/*ST securities - Listed for over 1 year (for STAR Market and Beijing Stock Exchange securities) or over 6 months (for other securities) - No major violations or financial reporting issues in the past year - No abnormal price fluctuations during the observation period - Belong to the aerospace and aviation industry under Guozheng's tertiary industry classification [43] 2. **Candidate Pool**: - Calculate the average daily free-float market capitalization and average daily trading volume over the past six months for eligible securities - Exclude the bottom 10% of securities ranked by trading volume if the pool exceeds 10 securities [43] 3. **Sample Selection**: - If the candidate pool contains ≤30 securities, all are included - If the pool contains 30<N≤50 securities, select securities covering 85% of free-float market capitalization, rounded to the nearest multiple of 10 [43] - If the pool contains >50 securities, select securities covering 85% of free-float market capitalization, rounded to the nearest multiple of 10, capped at 50 securities [43] 4. **Weighting**: Free-float market capitalization weighting [43] 5. **Adjustment**: Regular adjustments occur semi-annually, with temporary adjustments for special cases like delisting or corporate actions [44] **Model Evaluation**: The index is highly focused on the aerospace and aviation sector, with a strong representation of small-cap stocks and high exposure to the defense industry [44][47] Model Backtesting Results - **Guozheng Aerospace and Aviation Industry Index**: - **Annualized Return**: 6.26% (past five years) [61][62] - **Sharpe Ratio**: 0.33 (past five years) [61][62] - **Maximum Drawdown**: -55.93% (past five years) [61][62] - **Annualized Volatility**: 34.13% (past five years) [61][62] - **Recent Performance**: 33.78% return in the past year, outperforming other broad-based indices and military-themed indices [64][66] - **Bull Market Elasticity**: Demonstrated strong performance during bull market periods, with gains of 40.56%, 50.90%, and 38.36% in specific intervals [65] Quantitative Factors and Construction Methods - **Factor Name**: "Military Exposure" **Factor Construction Idea**: Focus on stocks with high exposure to the defense industry, particularly aerospace and aviation [47][55] **Factor Construction Process**: - Select stocks with significant involvement in defense-related activities, such as aircraft manufacturing, satellite technology, and unmanned systems [47][55] - Weight stocks based on their free-float market capitalization [43][55] **Factor Evaluation**: The factor achieves high representation of military-related stocks, with 97% of the index's components belonging to the defense industry [47][55] - **Factor Name**: "Aerospace Exposure" **Factor Construction Idea**: Emphasize stocks within the aerospace and aviation sub-sector [47][60] **Factor Construction Process**: - Identify stocks classified under the aerospace and aviation sub-sector [47][60] - Weight stocks based on their free-float market capitalization [43][60] **Factor Evaluation**: The factor has a high concentration in aerospace stocks, with 51% of the index's weight allocated to this sub-sector [47][60] Factor Backtesting Results - **Military Exposure Factor**: - **Representation**: 97% of index components belong to the defense industry [47][55] - **Aerospace Exposure Factor**: - **Representation**: 51% of index weight allocated to aerospace stocks [47][60] - **Unmanned Systems Factor**: - **Representation**: Over 12% of index weight allocated to stocks involved in unmanned systems, such as drones [60]

Market Overview - Major industry ETFs in the US stock market experienced an overall increase, with the biotechnology index ETF rising over 2%, and the semiconductor ETF increasing by more than 1% [1] Biotechnology Sector - The biotechnology index ETF is priced at 132.10, reflecting an increase of 2.77 (+2.14%) with a trading volume of 63,515 shares and a total market value of 10.489 billion [2] Semiconductor Sector - The semiconductor ETF is currently priced at 286.79, showing an increase of 3.31 (+1.17%) with a trading volume of 314,300 shares and a total market value of 33.90 billion, which is up 18.42% year-to-date [2] Global Technology Sector - The global technology stock index ETF is priced at 93.68, with an increase of 0.76 (+0.82%) and a trading volume of 5,242 shares, reflecting a year-to-date increase of 10.75% with a total market value of 1.312 billion [2] Airline Industry - The global airline industry ETF is priced at 24.13, with an increase of 0.19 (+0.79%) and a trading volume of 19,832 shares, but it has a total market value of 76.095 million, down 4.81% year-to-date [2] Healthcare Sector - The healthcare ETF is priced at 135.87, showing an increase of 0.90 (+0.67%) with a trading volume of 447,400 shares and a total market value of 26.001 billion, down 0.38% year-to-date [2] Technology Industry - The technology sector ETF is priced at 257.92, with an increase of 1.63 (+0.64%) and a trading volume of 158,900 shares, reflecting a total market value of 82.034 billion, up 11.30% year-to-date [2] Regional Banks - The regional bank ETF is priced at 63.48, showing an increase of 0.33 (+0.53%) with a trading volume of 353,000 shares and a total market value of 5.298 billion, up 6.62% year-to-date [2] Banking Sector - The banking ETF is priced at 58.74, with an increase of 0.28 (+0.48%) and a trading volume of 31,939 shares, reflecting a total market value of 4.547 billion, up 7.38% year-to-date [2] Consumer Discretionary - The consumer discretionary ETF is priced at 218.65, showing an increase of 0.99 (+0.45%) with a trading volume of 61,987 shares and a total market value of 27.463 billion, down 2.06% year-to-date [2] Financial Sector - The financial sector ETF is priced at 52.38, with an increase of 0.17 (+0.33%) and a trading volume of 1.314 million shares, reflecting a total market value of 58.301 billion, up 9.15% year-to-date [2] Utility Sector - The utility ETF is priced at 81.24, showing an increase of 0.10 (+0.12%) with a trading volume of 557,800 shares and a total market value of 11.794 billion, up 8.85% year-to-date [2] Energy Sector - The energy ETF is priced at 88.25, with a decrease of 0.26 (-0.29%) and a trading volume of 815,100 shares, reflecting a total market value of 22.100 billion, up 4.67% year-to-date [2]

周二（7月8日），能源业ETF收涨2.69%，半导体ETF涨1.33%，生物科技指数ETF、区域银行ETF、银 行业ETF至少涨约0.7%，可选消费ETF则收跌0.34%，网络股指数ETF跌0.77%，金融业ETF跌0.89%。 在标普500指数的能源板块，DVN、哈里伯顿、APA、西方石油公司、赫斯公司、贝克休斯、 Diamondback Energy至少涨4.21%领跑，其中，Diamondback能源在纳斯达克100指数成分股中表现第 五，EQT则收跌2.33%，Expand能源跌2.38%。 | 行业ETF √ | 当前价 ◆ | 涨跌幅 ◆ | 成交量 ÷ | 总市值 $ 年初至今 ◆ | 0 | | --- | --- | --- | --- | --- | --- | | 能源业ETF - ... | 88.50 | +2.31 (+2.68%) 2367.88万股 | | 221.63亿 +4.97% | [] *** | | us XLE | 88.55 | +0.05(+0.06%) 盘后 | | | | | 半导体ETF - ... | 283.48 | +3.72 (+1.33%) | ...

| 三次收费 | 司洗具金 | 目选组合 | | | | 10 | | --- | --- | --- | --- | --- | --- | --- | | 行业类 V | 当前价 ◆ | 涨跌幅 # | 成交量 ^ | | 总市值 ; 年初至今 # | 0 | | 全球航空业E ... | 24.22 | ↑ +0.41 (+1.72%) | 33509服 | 7629.08万 | -4.46% | == | | US JETS | | | | | | | | 生物科技指 ... | 128.91 | +0.79 (+0.62%) | 16180股 | 102.35亿 | -2.41% | == | | us IBB | | | | | | | | 半导体ETF - ... | 281.05 | +1.29 (+0.46%) | 11.76万股 | | 33.22亿 +16.05% | ( ) ... | | us SMH | | | | | | | | 能源业ETF ... | 86.46 | +0.27 (+0.31%) | 52.79万股 | 216.52亿 | +2.55% | ( ) *** | ...

周一（7月7日），生物科技指数ETF收跌1.45%，半导体ETF跌1.36%，全球航空业ETF和银行业ETF跌1.29%，可选消费ETF跌1.27%，区域银行ETF跌 1.03%，能源业ETF跌0.97%，金融业ETF跌0.96%，全球科技股指数ETF、科技行业ETF至多跌0.83%，网络股指数ETF和公用事业ETF则至多收涨0.18%。 | 行业ETF √ | 当前价 ◆ | 涨跌幅 ÷ | 成交量 ÷ | 总市值 $ 年初至今 # | | ೆ | | --- | --- | --- | --- | --- | --- | --- | | 生物科技指 ... | 128.12 | -1.88 (-1.45%) | 198.78万股 | 101.73亿 | -3.01% | n ... | | us IBB | 128.12 | 0.00 (0.00%) 盘后 | | | | | | 半导体ETF - ... | 279.76 | -3.86 (-1.36%) | 856.15万股 | | 33.07亿 +15.52% | (J ... | | us SMH | 279.71 | -0.05 (-0.02%) ...