Core Viewpoint - The trading volume of A-shares is increasing, with a total transaction amount approaching 1.50 trillion yuan, but certain ETFs, such as the CCB Schroder Deep Value ETF, are experiencing extremely low trading activity, raising concerns about liquidity and market demand [1][3][9]. Group 1: Trading Activity - On July 10, the total trading amount for stock ETFs reached 741 million yuan, with an average trading amount of 7.557 million yuan per ETF based on 980 listed products, indicating an active market atmosphere [1]. - The CCB Schroder Deep Value ETF (159913) had only 4 transactions on the same day, with a total trading amount of merely 8,949 yuan, highlighting its lack of liquidity [1][4]. - The CCB Schroder 180 Governance ETF (510010) showed slightly better liquidity with 21 transactions and a trading amount of 61,200 yuan, but this is still considered low [4]. Group 2: Liquidity Concerns - The low trading volume is attributed to insufficient liquidity, which poses risks for investors, particularly those with heavy positions, as they may need to sell at a discount to obtain liquidity [3]. - The CCB Schroder's ETFs, including the Deep Value ETF and the 180 Governance ETF, are among the oldest in the market, yet they have not gained significant traction, with the Deep Value ETF's scale remaining below 100 million yuan since Q3 2012 [6][8]. Group 3: Market Demand and Competition - The Deep Value ETF and 180 Governance ETF are the only ETFs tracking their respective indices, which contributes to their limited market demand [8]. - Despite the overall growth of the stock ETF market, with a total scale of 30,344 billion yuan as of July 9, the CCB Schroder ETFs have seen a decline in their rankings among fund companies, indicating a lack of competitive positioning [9]. Group 4: Investor Composition - As of the end of 2024, the Deep Value ETF had 369 holders, with institutional investors holding 93.71% of the shares, while the 180 Governance ETF had 1,653 holders, with institutional investors holding 96.37% [6][7]. - The primary holders of these ETFs are linked funds managed by CCB Schroder, which are predominantly held by individual investors, suggesting a reliance on retail participation [7]. Group 5: Management Background - The investment committee of CCB Schroder lacks members with a background in ETF business, which may impact the strategic direction and performance of their ETF offerings [10].