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标普500“历史权重”ETF发行——海外创新产品周报20250407
申万宏源金工· 2025-04-08 04:39
Group 1: ETF Innovations and Trends - The US saw the launch of 30 new ETF products last week, with a focus on structured products due to increased market uncertainty [1] - BNY Mellon launched a large-cap growth active ETF targeting sectors with rapid growth potential over the next 3-5 years, emphasizing profitability and reasonable valuations [1] - Tema introduced a S&P 500 "historical weight" ETF, calculated based on average weights from December 1989 to present, aiming to mitigate inflation and emotional factors [1] - Brookmont issued its first catastrophe bonds (CAT) ETF, with a total market value of around $50 billion, indicating a growing need for such tools amid increasing extreme weather events [2] Group 2: Fund Flows and Market Dynamics - US stock ETFs experienced a net outflow of approximately $5 billion, while bond products saw inflows, reflecting a defensive investment preference [3][6] - The iShares Core S&P 500 ETF (IVV) and Vanguard S&P 500 ETF (VOO) saw significant inflows of $31.89 billion and $26.03 billion respectively, while SPDR S&P 500 ETF Trust (SPY) faced a substantial outflow of $123.20 billion [7] - Short-term bond products attracted more inflows compared to long-term bonds, indicating a shift in investor sentiment towards safer assets [6] Group 3: Performance of ETFs - The VIX index products experienced significant volatility, with 2x long VIX futures ETFs showing a year-to-date return of 115.71%, while short VIX futures products faced notable declines [9] - The macro environment has led to increased volatility in the market, impacting the performance of various ETFs [9] - Recent data indicates that the total assets of non-monetary public funds in the US reached $22.04 trillion, with a slight decrease from the previous month [10]