作为首批10只科创债ETF之一，科创债ETF鹏华(551030)跟踪上证AAA科技创新公司债指数，该指数是 从上交所上市的科技创新公司债中，选取主体评级AAA，隐含评级AA+及以上的债券作为成分券。沪 AAA科创债指数平均收益率2.02%，久期3.72。 相较于单券买入策略，科创债ETF具有低费率、低交易成本、透明度高、分散度高、"T+0"高效申赎等 优势，有利于分散投资组合风险、提高资金使用效率。 华西证券认为，在政策红利下，科创债市场空间广阔，科创债ETF作为科技领域债券的唯一指数化工 具，其长期配置价值和市场影响力有望持续凸显。同时，科创债ETF工具属性灵活，兼顾收益机会与流 动性，适配投资者稳健型需求。 截至2025年10月24日 15:00，科创债ETF鹏华(551030)小幅回调，盘中成交额62.59亿元，交投活跃。截 至上个交易日，科创债ETF鹏华最新规模达192.57亿元，位居全市场同类第二、沪市同类第一。 国信证券指出，后续市场仍面临不确定性；央行呵护资金面的基调延续，基本面仍有望利于债市，因此 债券收益率进一步向上突破的可能性不大。且经过前期的调整，股债估值从"股票中性、债券偏贵"变 成" ...

截至2025年10月22日 15:00，科创债ETF鹏华(551030)上涨0.05%，盘中成交额45.81亿元，截至上个交易 日，科创债ETF鹏华最新规模达192.38亿元，位居全市场同类第二、沪市同类第一。 华西证券认为，在政策红利下，科创债市场空间广阔，科创债ETF作为科技领域债券的唯一指数化工 具，其长期配置价值和市场影响力有望持续凸显。同时，科创债ETF工具属性灵活，兼顾收益机会与流 动性，适配投资者稳健型需求。 鹏华基金自2018下半年建立"固收工具型产品"中长期战略，并在利率债指数产品及ETF、信用债指数、 存单指数产品等方面积极布局，致力于打造固收工具库，力争成为国内"固收指数专家"。当前债券ETF 总规模已突破240亿。 债券ETF方面，鹏华基金目前布局了5年地债ETF（159972）、0-4地债ETF（159816），分别定位为中 长久期债券ETF、类货币ETF工具，其中5年地债ETF是全市场规模最大的地方债ETF，流动性也位于市 场前列。 凭借专业的债券指数投资管理能力和丰富的产品运作经验，鹏华基金将持续为投资者提供优质的债券指 数化投资工具。 以上内容与数据，与有连云立场无关，不构成投 ...

Core Viewpoint - The recent rebound of the Sci-Tech Bond ETF indicates a recovery in the bond market, driven by strong policy support and the focus on high-quality AAA-rated bonds [1] Group 1: Sci-Tech Bond ETF Overview - The Penghua Sci-Tech Bond ETF (551030) rose by 0.20% as of July 31, 2025, at 11:15 AM [1] - This ETF tracks the Shanghai AAA Sci-Tech Innovation Company Bond Index, which includes bonds with AAA ratings and above, reflecting the performance of high-grade tech innovation bonds listed on the Shanghai Stock Exchange [1] - The index is adjusted monthly, ensuring it accurately represents the overall performance of high-grade tech innovation bonds [1] Group 2: Investment Characteristics - The Sci-Tech Bond ETF has a low credit risk profile due to its requirement for constituent bonds to have AAA ratings, providing a higher level of safety for investors [1] - There is ongoing policy support for the Sci-Tech bond market, with continuous policy initiatives since 2025 aimed at promoting its development [1] - The focus on technology innovation and strategic emerging industries aligns with national priorities, suggesting a clear long-term growth trajectory for the sector [1] Group 3: Advantages of ETF Investment - Compared to single bond purchases, the Sci-Tech Bond ETF offers advantages such as low fees, low trading costs, high transparency, and high diversification, which help mitigate investment risks [2] - The ETF structure allows for efficient "T+0" trading, enhancing liquidity and capital efficiency [2] - Penghua Fund has established a comprehensive fixed-income product strategy since the second half of 2018, with a product library that includes 9 products totaling 57.7 billion [2]

Group 1 - The 5-year local government bond ETF (159972) has seen a recent increase of 7 basis points, with an average daily trading volume of 1.369 billion yuan and a turnover rate of 29.84% over the past week [1] - The fund's performance shows a net value growth rate of 4.23% over the past year, 12.36% over the past three years, and 24.23% since its inception [1] - This ETF is the first of its kind in the market, closely tracking the China Securities 5-year local government bond index, consisting of non-directionally issued local government bonds with remaining maturities between 4 and 5.25 years [1] Group 2 - Recent key information includes a significant easing of US-China tariff rates and stronger-than-expected export data for April, although PPI year-on-year and new credit data showed weakness, leading to a defensive phase in the bond market with rising yields [1] - Guotai Junan Securities suggests that the easing signals from US-China negotiations have led the market to adjust its previously pessimistic pricing for the second quarter, with long-term rates declining first [1] - The current overnight funding rates have returned close to policy rates, indicating a lack of downward momentum without triggering factors, and the market is awaiting catalysts for the transmission chain from funding rates to short-term and then long-term rates [2]