600 Billion ETF Set Up A Structured Market: Short-Term Capital Leveraging Technology Stocks Carnival Wide Base Stall Or Disaster Allocation Disk

China 5G ETF, Cathay semiconductor 50ETF and Huaxia chip ETF, these 3 technology ETF performance, is undoubtedly reflect A shares this round of technology market a perfect cut.

Several thriving and several ups and downs.

The hottest Huatai Barry Shanghai Shenzhen 300ETF, South China card 500ETF and Huaxia Shanghai 50ETF, 3 ETF since the beginning of February 26th, the share change rate is -5.77%, -12.32% and -7.17% respectively.

It is interesting to note that, although nearly two days, A shares shock adjustment, technology stocks callback, but the funds for technology ETF preferences remain unchanged.

Take February 27th as an example, Huaxia 5G ETF, Huaxia chip ETF and Cathay semiconductor 50ETF became the 3 ETF with the highest turnover on that day, of which Huaxia CMS 5G ETF still had the highest turnover, reaching 3 billion 834 million yuan.

According to the twenty-first Century economic report reporter statistics, the size of the domestic stock ETF has increased from 550 billion 800 million yuan at the end of 2019 to 604 billion yuan, the first time it crossed the 600 billion pass. After that, the ice and fire situation of different products is becoming an important factor in the structural market of A shares.

Who is the trend of technology stocks?

Technology ETF is very popular in this technology cycle.

According to the twenty-first Century economic report data, China's 5G ETF, Huaxia chip ETF and Cathay semiconductor 50ETF3 only technology ETF reached 114.25%, 84.63% and 188.53% respectively at the beginning of this year as of February 26th. The share of two ETF has doubled.

In twenty-first Century, an investigation by the economic news reporter found that many fund companies have stepped up their propaganda of the ETF of science and technology during this period. For example, a large public fund in Beijing started with the ETF increase and the turnover has been innovating more frequently. Since mid February, almost every day has been promoting related products, and the public offering fund has launched the technology ETF advertising to the most expensive platform in the industry.

But at the same time, the traditional wide base ETF showed a trend of share loss during this period.

In fact, the ETF upsurge of public funds raised in 2018 has long been extended to 2020. The layout features that have been shown in 2020 show that technology ETF has become one of the hottest subdivisions.

"We have been very optimistic about technology since the end of last year. Since 2020, two technology ETF products have been launched, and many products are still being planned." A large public fund product department in Beijing told the economic news reporters twenty-first Century.

Another broker, a public offering fund, also said, "the company has recently declared a number of technology ETF, but this is not a short-term trend, but a long-term strategy."

According to the twenty-first Century economic report combing reporter, as of February 27th, there are currently 25 50ETF funds and connection funds which are announced by the China Fangzheng Technology Co., Ltd., which are declared by the Fonda fund, the CSI electronic 50ETF of the Warburg fund, the ETF of the Internet of things reported by the harvest fund, and the ETF Chip Fund and ETF linked by the GF fund.

It is easy to understand the frenzy of institutional layout.

Since the beginning of the year, 5G, semiconductors, chips and other leading technology stocks have taken a strong trend. Since the beginning of February 27th, the two highest ETF growth rates were respectively Guolian an semiconductor ETF and Cathay semiconductor 50ETF, up 49.51% and 47.2% respectively, or the following are AI ETF, China AI intelligent ETF, and China 5G ETF.

From the scale data, a total of 13 stocks ETF2 26 month scale than the end of 2019, the scale growth of more than 100%, including the League of nations semiconductor ETF, Cathay semiconductor 50ETF, Huaxia 5G ETF, Cathay computer ETF, Huaxia chip ETF 5 technology ETF.

The scale of its China Lianan semiconductor ETF has reached 728%, and the scale of Cathay semiconductor 50ETF has reached 342%. In the 13 stock ETF, the largest one in February 26th was Huaxia 5G ETF. According to the share of the day and the net value, the latest fund size was 21 billion 724 million yuan, which was 183% higher than that at the end of 2019.

Another Chinese chip ETF, which was founded in January 20th, has been established for more than a month, and its scale has increased more than doubled.

Short term funds carnival?

ETF is the "most desirable" long-term capital market carrying platform for regulators. In the current round of market, it has become part of short-term funds to gain excess returns.

In contrast to the trend of ETF development in the US market, ETF is also the largest and largest ETF in the industry.

Minsheng securities data show that as of the end of the 1 quarter of 2019, there were 58 technology industry ETF in the US market, with a scale of 78 billion 300 million US dollars, accounting for 20.2% of the ETF of the industry. In the past five years, the ETF of the technology industry has been the main field of the new ETF products. 28 new products have been produced in the past five years, accounting for 27.5% of the total new products in the same period. And the technology industry ETF has a net inflow of US $17 billion 500 million over the past 5 years, only slightly behind ETF in the energy sector.

But a significant difference is that 70% of the ETF scale in the US market is held by institutional investors and 30% by individual investors.

In the domestic science and technology ETF, individual investors are the main ones.

For example, 5G ETF of a large fund company in China, for example, disclosed that when the fund was listed, its institutional investors held 0.85% of the total share of the fund, while the proportion of fund shares held by individual investors was 99.15%.

This is not a case. From the data disclosed by hot ETF, the proportion of individual holders is over 90%.

This also means that the domestic ETF scale is too short of investment demand for short-term funds. Once the market wind direction changes, it is very easy to trigger "accelerated blood loss" of individual sectors, resulting in the superposition of negative effects.

However, some institutions are confident about the trend of hot plate.

"5G is one of the most popular draught and one of the most significant investment opportunities in the near future. However, there are hundreds of related companies in the 5G industry chain, and the threshold of research on individual stocks is relatively high. It is more suitable for ordinary investors to grasp the logic through layout index products. At the same time, ETF index investment tools help to decentralization of individual stocks risk, more effectively grasp the industry and the theme of the trend of opportunities, and in the two tier market transactions convenient, so more favored by funds. A large public fund people interviewed pointed out.

According to the twenty-first Century economic report reporter statistics, since February, as of February 27th, stock ETF has more than 20 billion yuan ETF monthly turnover of 9, of which ETF has Cathay Pacific semiconductor 50ETF, Huaxia 5G ETF, Huaxia chip ETF, Huabao technology ETF 4.

The monthly turnover of Cathay semiconductor 50ETF and Huaxia 5G ETF exceeded 30 billion yuan, 39 billion 391 million yuan and 39 billion 34 million yuan respectively.

"Wide base" stall and dispose of disks

Just as technology ETF came to the forefront, the traditional wide base ETF showed a decrease in share.

Reporter statistics show that since the beginning of February 26th, the fund share has decreased by more than 50% of ETF total of 11, of which the people's livelihood plus silver, Shanghai and Shenzhen 300ETF, merchants Shenzhen 100ETF, ICBC Credit Suisse Shenzhen 100ETF fund share reduction is the largest, 83.84%, 78.62% and 71.73% respectively.

According to the scale, since the beginning of February 26th, the fund size decreased by more than 50% of the ETF was also 11, of which huitianfu Shanghai and Shenzhen 300ETF, merchants Shenzhen 100ETF, ICBC Credit Suisse Shenzhen 100ETF fund had the largest reduction in size, all over 70%.

Huitianfu Shanghai and Shenzhen 300ETF is the largest in scale reduction. The fund's size at the end of 2019 was 277 million yuan, while the latest estimate in February 26th was only 57 million yuan.

In fact, just a year ago, the broad base index was still the target of funds. Not only did the single day turnover continue to dominate, but the scale of the fund also broke several times.

Data at the end of 2019 showed that the scale of China's Shanghai 50ETF, South China card 500ETF and Huatai beri Shanghai and Shenzhen 300ETF3 only ETF exceeded 40 billion yuan, of which the largest scale of China's Shanghai 50ETF has reached 46 billion 191 million yuan.

However, the data in February 26th showed that the scale of Huatai berry Shanghai and Shenzhen 300ETF was less than 40 billion yuan, and the size of the Shanghai 50ETF was reduced by more than 5 billion yuan at the end of last year.

The corresponding figures show that China's Shanghai Composite Index has fallen by 5.23% since the beginning of 50ETF in February 27th, and the market share of the Huatai Barry Shanghai and Shenzhen 300ETF since February 27th has also fallen by 0.61%.

From the institutional point of view, the technology growth sector in the current market is also more favored.

"Recent growth styles are stronger, especially in some stocks of the technology growth sector. Looking from the medium to long term, the stock market of technology growth is still in its early stage. Whether it is looking back on history or analyzing the background of the current era, there will undoubtedly be more opportunities for the growth of technology sector. Lv Yuechao, manager of Hai Fu Tong mixed fund manager, said.

Data show that even in the February 26th gem index fell 4.66%, the highest net capital inflow of ETF is still China 5G ETF, Huaxia chip ETF, GF chip ETF, Allianz semiconductor ETF and other technology ETF. Among them, China's 5G ETF and Huaxia chip ETF have more than 2 billion yuan in net capital.

"These two days although the market adjustment, but the fund net inflow is still quite many, the adjustment is actually also the layout opportunity." The aforementioned public fund people said.

But how far can the individual market of individual plates go?