截至7月3日，ETF两市资金流入1462.38亿元，流出1299.49亿元，净流入162.89亿元。分类型来看，股 票型ETF资金净流入38.22亿元，债券型ETF资金净流入67.19亿元，货币型ETF资金净流入51.09亿元， 商品型ETF资金净流入3.14亿元，QDII型ETF资金净流入3.25亿元。其中，资金净流入最多的非货币型 ETF分别是广发中证香港创新药(QDII-ETF)(513120)、易方达中证香港证券投资主题ETF(513090)、博时 恒生医疗保健(QDII-ETF)(513060)，资金净流入金额分别为12.11亿元、8.60亿元、4.02亿元。资金净流 出最多的非货币型ETF分别为嘉实中证a500ETF(159351)、华夏中证500ETF(512500)、易方达中证海外 中国互联网50(QDII-ETF)(513050)，资金净流出金额为4.29亿元、3.06亿元、3.02亿元。 ...

Group 1 - As of June 23, the net inflow of funds into ETFs in the two markets was 61.37 billion yuan, with total inflows of 1293.59 billion yuan and outflows of 1232.22 billion yuan [1] - Among different types of ETFs, stock ETFs had the highest net inflow of 69.89 billion yuan, followed by bond ETFs with 9.69 billion yuan, while money market ETFs saw a net outflow of 60.74 billion yuan [1] - The top three non-money market ETFs with the highest net inflows were the Hong Kong Innovative Drug ETF (513120) with 1.009 billion yuan, the Hong Kong Securities ETF (513090) with 653 million yuan, and the Hang Seng Technology ETF (513130) with 638 million yuan [1] Group 2 - The non-money market ETFs with the highest net outflows included the Gold ETF (518880) with 134 million yuan, the CSI 1000 ETF (512100) with 124 million yuan, and the Cash Flow ETF (159399) with 91.71 million yuan [1] - The QDII ETFs experienced a net inflow of 43.74 billion yuan, indicating a positive trend in overseas investment [1]

Group 1 - The total trading volume of ETFs in the two markets has exceeded 250 billion, reaching 250.349 billion [1] - Among the types of ETFs, stock ETFs accounted for 77.706 billion, bond ETFs for 107.643 billion, money market ETFs for 19.969 billion, commodity ETFs for 5.531 billion, and QDII ETFs for 39.502 billion [1] - The highest trading volumes for non-money market ETFs were recorded for GF CSI Hong Kong Innovation Drug (QDII-ETF) at 6.375 billion, Huaxia Hang Seng Technology ETF (QDII) at 3.661 billion, and Guotai S&P 500 ETF at 3.459 billion [1]

Summary of Key Points Core Viewpoint - As of June 18, the ETF market experienced a slight net outflow of 1.39 billion yuan, with total inflows of 103.96 billion yuan and outflows of 104.00 billion yuan [1] Fund Flow Analysis - Stock ETFs saw a net outflow of 519 million yuan, while bond ETFs had a net inflow of 1.01 billion yuan [1] - Money market ETFs recorded a net inflow of 1.46 billion yuan, while commodity ETFs experienced a net outflow of 116 million yuan [1] - QDII ETFs faced a net outflow of 1.068 billion yuan [1] Top Performing ETFs - The ETFs with the highest net inflows were: - Fortune CSI Military Industry Leaders ETF (512710) with an inflow of 293 million yuan - Huaxia SSE Sci-Tech Innovation Board 50 ETF (588000) with an inflow of 213 million yuan - Brokerage ETF (159842) with an inflow of 186 million yuan [1] Underperforming ETFs - The ETFs with the highest net outflows were: - Guotai CSI All-Share Securities Company ETF (512880) with an outflow of 394 million yuan - Harvest CSI A500 ETF (159351) with an outflow of 343 million yuan - E Fund CSI Hong Kong Securities Investment Theme ETF (513090) with an outflow of 294 million yuan [1]

截至6月17日，ETF两市资金流入1248.65亿元，流出1315.82亿元，净流出67.17亿元。分类型来看，股 票型ETF资金净流出47.06亿元，债券型ETF资金净流出6.99亿元，货币型ETF资金净流入8.90亿元，商 品型ETF资金净流出9778.63万元，QDII型ETF资金净流出21.05亿元。其中，资金净流入最多的非货币 型ETF分别是证券ETF(512880)、A500ETF基金(512050)、中证500ETF华夏(512500)，资金净流入金额分 别为2.76亿元、2.26亿元、1.74亿元。资金净流出最多的非货币型ETF分别为港股创新药ETF(513120)、 中证500ETF(510500)、科创50ETF(588000)，资金净流出金额为7.51亿元、4.00亿元、3.79亿元。 无需港股通，A股账户就能T+0买港股>> ...

无需港股通，A股账户就能T+0买港股>> 截至6月16日，ETF两市资金流入1280.45亿元，流出1223.03亿元，净流入57.42亿元。分类型来看，股 票型ETF资金净流入53.08亿元，债券型ETF资金净流入27.91亿元，货币型ETF资金净流出45.24亿元， 商品型ETF资金净流出4.42亿元，QDII型ETF资金净流入26.09亿元。其中，资金净流入最多的非货币型 ETF分别是香港证券ETF(513090)、恒生科技指数ETF(513180)、恒生科技ETF(513130)，资金净流入金 额分别为7.65亿元、5.59亿元、4.59亿元。资金净流出最多的非货币型ETF分别为黄金ETF(518880)、医 药ETF(512010)、深红利ETF(159905)，资金净流出金额为4.92亿元、3.68亿元、2.62亿元。 ...

截至6月11日，ETF两市资金流入1379.00亿元，流出1284.36亿元，净流入94.64亿元。分类型来看，股票 型ETF资金净流入5995.36万元，债券型ETF资金净流入88.90亿元，货币型ETF资金净流出15.84亿元， 商品型ETF资金净流出1.19亿元，QDII型ETF资金净流入22.17亿元。其中，资金净流入最多的非货币型 ETF分别是华夏恒生科技ETF(QDII)(513180)、易方达中证香港证券投资主题ETF(513090)、华夏恒生互 联网科技业ETF(QDII)(513330)，资金净流入金额分别为6.66亿元、5.92亿元、5.35亿元。资金净流出最 多的非货币型ETF分别为博时恒生医疗保健(QDII-ETF)(513060)、华夏上证科创板50成份ETF(588000)、 嘉实沪深300ETF(159919)，资金净流出金额为2.45亿元、2.43亿元、2.41亿元。 ...

证券研究报告·行业月报·非银金融 东吴金融 财富管理月报（2025/05） 基金日均成交额及换手率环比双降，新发基 金规模持续下降 增持（维持） [Table_Tag] [Table_Summary] 投资要点 2025 年 06 月 11 日 证券分析师 孙婷 执业证书：S0600524120001 sunt@dwzq.com.cn 证券分析师 武欣姝 执业证书：S0600524060001 wuxs@dwzq.com.cn 东吴证券研究所 1 / 16 请务必阅读正文之后的免责声明部分 行业走势 -11% -4% 3% 10% 17% 24% 31% 38% 45% 52% 59% 2024/6/11 2024/10/10 2025/2/8 2025/6/9 非银金融 沪深300 相关研究 《基本面持续转好，估值低位，期待 政策催化》 2025-06-08 《权益 ETF 系列：寻觅合适时机，成 长风格已然启动。》 2025-06-07 ◼ 2025 年 5 月，基金指数净值整体波动上升，各类型基金收益高于债券 型指数型。 ◼ 2025 年 5 月，股票型 ETF 基金资金净流入 1,686 亿元，现存总 ...

Core Viewpoint - As of June 10, the ETF market experienced a net inflow of 3.6 billion yuan, with total inflows of 145.738 billion yuan and outflows of 142.138 billion yuan [1] Fund Flow Summary - Stock ETFs saw a net outflow of 10.809 billion yuan, while bond ETFs had a net inflow of 12.924 billion yuan [1] - Money market ETFs recorded a net inflow of 2.299 billion yuan, and commodity ETFs had a net inflow of 77.06 million yuan [1] - QDII ETFs experienced a net outflow of 0.891 billion yuan [1] Top Performing ETFs - The top three non-money market ETFs with the highest net inflows were: - Hong Kong Innovative Drug ETF (513120) with an inflow of 0.521 billion yuan - Hong Kong Stock Connect Innovative Drug ETF (159570) with an inflow of 0.137 billion yuan - Saudi ETF (159329) with an inflow of 0.133 billion yuan [1] Underperforming ETFs - The three non-money market ETFs with the highest net outflows were: - CSI 300 ETF (510300) with an outflow of 0.761 billion yuan - Sci-Tech Innovation 50 ETF (588000) with an outflow of 0.755 billion yuan - SSE 50 ETF (510050) with an outflow of 0.735 billion yuan [1]

Core Viewpoint - As of June 9, the ETF market experienced a net inflow of 18.57 billion yuan, with total inflows of 144.14 billion yuan and outflows of 125.58 billion yuan [1] Fund Flow Summary - Stock ETFs saw a net inflow of 4.71 billion yuan, while bond ETFs had a net inflow of 13.44 billion yuan [1] - Money market ETFs experienced a net outflow of 3.33 billion yuan, and commodity ETFs had a net outflow of 619.50 million yuan [1] - QDII ETFs recorded a net inflow of 3.81 billion yuan [1] Top and Bottom Performing ETFs - The top three non-money market ETFs by net inflow were: - Hang Seng Tech Index ETF (513180) with an inflow of 757 million yuan - Hang Seng Tech ETF (513130) with an inflow of 705 million yuan - Hong Kong Securities ETF (513090) with an inflow of 563 million yuan [1] - The top three non-money market ETFs by net outflow were: - A500 ETF Fund (512050) with an outflow of 186 million yuan - Wine ETF (512690) with an outflow of 133 million yuan - A500 Index ETF (159351) with an outflow of 127 million yuan [1]