During the current adjustment of the equity market, the ETF market performed eye-catchingly, attracting a large number of funds to take advantage of the contrarian layout. Data shows that in January this year, the net inflow of funds in the overall ETF market reached 16849.8 billion yuan, with an average daily turnover of about 12451.1 billion yuan. At the same time, the total size of ETFs has also increased to 20,6337.5 billion yuan, an increase of 1109.6 billion yuan.
* ETFs attracted the most additional funds, and investors seemed to firmly believe that "the more they fall, the more they buy", with a net inflow of 1,380 during the month8.8 billion yuan, despite the average unit net value of **1048%。The CSI 300 ETF series became the biggest winner, with four CSI 300 ETFs attracting more than 20 billion yuan to increase their positions against the market, while the CSI 500 ETF and CSI 1000 ETF suffered large-scale net outflows.
Cross-border ETFs are also highly sought after by investors, especially the Nikkei 225 ETF and the US 50 ETF. Since January, the average daily turnover rate of 4** ETFs, including ChinaAMC Nomura Nikkei 225 ETF and E Fund MSCI US 50 ETF, has exceeded 100%, among which the average daily turnover rate of ChinaAMC Nomura Nikkei 225 ETF has even exceeded 200%.
The CSI 300 ETF is widely favored by investors in the market and has attracted a large amount of capital layout. E Fund CSI 300 ETF is priced at 370The net inflow of 6.9 billion yuan topped the list, followed by Huatai Pineapple CSI 300 ETF, Harvest CSI 300 ETF and ChinaAMC CSI 300 ETF, which received net inflows of about 28.8 billion yuan, 27.3 billion yuan and 24 billion yuan respectively.
Although the ChiNext and STAR indices exceeded 15% during the month, a number of related ETFs still attracted funds to increase their positions. E Fund ChiNext ETF net inflow was 631.9 billion yuan, ranking 6th, and ChinaAMC SSE STAR Market 50 Component ETF, Huaan ChiNext 50 ETF, E Fund SSE STAR Market 50 ETF and other products also received a net inflow of more than 1 billion yuan.
High-dividend dividend strategy products have performed well over the past year and remain popular with investors. In January this year, products such as Huatai Pineapple Dividend LV and Invesco Great Wall CSI Dividend Low Volatility 100 ETF attracted a net inflow of more than 2 billion yuan.
In the context of ETF contrarian net subscription, the scale of trackable net inflow of funds in the secondary market has also expanded, and the market has shown signs of outstanding cost-effectiveness in medium and long-term allocation.
In contrast, small- and mid-cap indices such as the CSI 500 and CSI 1000 underperformed in January this year, significantly underperforming the CSI 300 index. The CSI 1000 and CSI 500 indices are among the largest indexes in the market, and some investors have suffered losses after participating in these products because they triggered a massive sell-off of stock indices**.
In terms of cross-border ETFs, CSI 500 ETF and CSI 1000 ETF suffered large-scale net outflows in January, becoming one of the products with the largest net outflows among equity ETFs. This may be related to the relatively high valuations of small and mid-cap stocks, the lack of significant improvement in market sentiment, and the fact that stable inflows are mainly concentrated in ** stocks.
Although the ETF market saw a 4% quarter-on-quarter decline in turnover, the turnover rate of cross-border ETFs exceeded 200%. *Type ETFs have the highest average daily turnover of 5462.6 billion yuan, with an average daily turnover rate of 717%。Bond ETFs have the highest average daily turnover rate of 3142%, with an average daily turnover of 1583.8 billion yuan.
The average daily turnover of cross-border ETFs is 2467.6 billion yuan, with an average daily turnover rate of 1926%, while commodity ETFs have an average daily turnover of 112.7 billion yuan, with an average daily turnover rate of 1926%。The average daily turnover of a currency ETF is 2824.4 billion yuan, with an average daily turnover rate of 710%。
Compared to the previous month, cross-border ETFs saw the largest increase in turnover, up 3724%；* ETFs followed with a 22-month-on-month increase70%；Bond, commodity and currency ETFs saw their turnover, respectively, decline. 24% and 3041%。
In terms of specific products, the average daily turnover of Huatai Pineapple CSI 300 ETF reached 6.1 billion yuan in January, ranking first in the industry, with an average daily turnover rate of 464%, despite the fact that the yield of this ** is -5 so far this year45%。The average daily turnover of ChinaAMC SSE 50 ETF and E Fund CSI 300 ETF initiator was 339.2 billion and 268.4 billion yuan, with an average daily turnover rate of more than 4%.
In terms of turnover rate, Nikkei 225 and US 50 ETFs performed the best, with the average daily turnover rate of ChinaAMC Nomura Nikkei 225 ETF as high as 20924%, ranking first in the industry, with an average daily turnover of 163.9 billion yuan, the yield of the ** since the beginning of this year is 466%, and at one point the premium rate exceeded 20%.
E Fund's MSCI US 50 ETF (QDII) and ChinaAMC S&P 500 ETF (QDII) also have an average daily turnover rate of more than 120%. It is worth noting that E Fund MSCI US 50 ETF has experienced volatility recently, with a premium rate of more than 40% at one point, and then continued to fall to the limit, and the yield of this ** has been 554%。
Despite the volatility of the cross-border ETF market, investor enthusiasm remains high. CUAM MSCI US 50 ETF was sold out on January 30, ending the fundraising ahead of schedule, and the original fundraising time was from January 30 to March 22, with a maximum fundraising size of 2200 million yuan. This shows that investor interest in cross-border ETFs remains strong, although there are some potential risks in the market, such as high premiums and liquidity risks.