What are the Class B funds?

Why are graded funds so hot? Because of its leverage. Regardless of whether the market is up or down, graded funds are the focus of investors' attention. Who made this B-level fund brave when it rose and fierce when it fell? Graded funds are special enough, but there are so many kinds that investors are confused and don't know how to choose. So what B-level funds are there in the market, and what are their characteristics?

Bian Xiao will sort it out here, divide it according to the graded funds that track the same index or the same industry theme, explain the concepts and characteristics of these B-level funds, and make a simple analysis and comparison. This is the most comprehensive comparison of B-level funds in the same industry. After reading it, you don't have to worry about any problems with B-level funds anymore.

I. SZSE 100

Comments: Yin Hua Shen 100 was the first to track the classification of Shen 100 (1590 1) index, and its class B share, Yin Hua Ruijin, was famous in the market, and its scale and liquidity were once giants in the classification circle. Yin Hua SZSE 100 graded funds have achieved great success, and many fund companies have issued graded funds that also track SZSE 100 index. However, from the perspective of leverage and liquidity, Yin Hua Ruijin is the first choice.

Second, the Shanghai and Shenzhen 300

Comment: There are five graded funds tracking the Shanghai and Shenzhen 300 Index. Perhaps because of the existence of Shanghai and Shenzhen 300 stock index futures, they don't have a large asset scale, but from the perspective of spot arbitrage, the Shanghai and Shenzhen 300 grading can be a good investment target. The parent funds of Yin Hua 300B and Guo Jin 300B have completed irregular upward conversion, and there is little difference between the two products as a whole, so investors can continue to pay attention. How about harvesting 300? What are the advantages of Harvest 300 Fund?

Third, CSI 500

Comments: Before the statistics, I didn't realize that there were so many graded funds tracking the CSI 500 Index. There were even five when the data came out, but it also showed that these graded funds did not attract enough attention from investors. Comparatively speaking, CSI 500B has better scale and liquidity.

Fourth, CSI 800

Comments: There are two graded funds corresponding to the CSI 800 Index, and the tracking index is slightly different. CSI 800B corresponds to the CSI 800 weight index, and Tongqing 800B corresponds to the CSI 800 index. Since entering the Year of the Sheep, Yin Hua CSI 800 has taken the lead in completing the upward irregular conversion, with a price leverage of 1.9 times and obvious leverage advantage. However, the liquidity of the two graded funds is not very good, which is not suitable for the participation of large amounts of funds.

Verb (abbreviation of verb) small and medium-sized board and growth enterprise market

Comments: Although the performance of the market index is not very good, hot topics are constantly emerging, and small and medium-sized stocks are also favored, which is reflected in the fact that the index of small and medium-sized sectors and entrepreneurial sectors frequently hit new highs. Investors who participated in these two sectors in the early stage should also expect many annualized expected returns, but the market shows signs of style change, so investors in these two sectors should pay attention to the risks brought about by this. The corresponding shares of graded fund B, GEM B and small and medium-sized B are also prominent, with a large number of investors.

Transitive verb convertible bond

Comments: Last year's bull market also detonated the convertible bond market, and three convertible bond grades triggered discounts one after another, which stimulated investors' enthusiasm for participating in the Class B share of convertible bonds. Although convertible bonds are classified as bonds, they have shown a very strong stock nature in the bull market. Compared with stock-based graded funds, the initial leverage of convertible bonds classification is 3.33, which has a natural advantage. Yin Hua convertible bonds classified and tracked the CSI convertible bond index, and made some improvements on the basis of this index; The grading of China Merchants Convertible Bonds belongs to the pure active management grading fund, which is more difficult for investors who arbitrage the overall discount premium. Soochow convertible bond grading is a passively managed grading fund that tracks the CSI convertible bond index. On the whole, convertible bonds have high B-level leverage, good liquidity, and more overall premium arbitrage opportunities. The parent fund is open to purchase and redemption, and investors can continue to pay attention.

VII. Environmental protection

Comments: On March 2, Chai Ma under the dome met with Yang Ma who announced the interest rate cut, and Chai Ma won that day. After several trading days, the theme of environmental protection influenced by Chai Ma failed to continue its magic, but the power of Yang Ma is gradually emerging. Of course, we also heard from studying apes that environmental protection may be the theme throughout this year, so let's continue to pay attention. There is no difference between the tracking indexes of the two graded funds, but the difference lies in the time of establishment sooner or later. Environmental protection B has better liquidity and larger scale, but lower leverage, and its advantages may be more obvious after being triggered again.

Eight, national defense and military industry

Comments: Last year, the theme of military industry increased greatly, which attracted much attention from the market. Military B has also become the first index-based graded fund in the market, with obvious advantages in scale and liquidity. The military sector is not as bright as last year, and perhaps a better opportunity is in the second half of the year. National Defense B tracks the CSI National Defense Index, which has a wider coverage, but the correlation between them is also high. Due to the late issuance, it has leverage advantage.

Nine, TMT

Comments: TMT is the biggest hot spot, and the corresponding grade B is also highly sought after, with an increase of more than 45%. There are four B-levels related to TMT, and the tracking indicators are different. CSI Information Technology Index, CSI Media Index and CSI Mobile Internet Index all have their own emphases. The TMT index of CSI covers a wide range, which largely covers the total range of the first three indexes. The CSI Information Technology Index mainly covers stocks in the communications, computer and electronics industries. CSI Mobile Internet Index contains 65,438+000 stocks, covering not only computer applications, but also Internet media and cultural media. The industry scope covered by CSI Mobile Internet Index and CSI Information Technology Index slightly overlaps. The CSI Media Index contains 50 stocks, which is the least among all TMT related indexes. The main industries covered include broadcasting and cable TV, publishing and advertising, movies and entertainment, Internet and sales catalog retail, Internet software and services, home entertainment software, data processing and outsourcing services. From the correlation of the three sub-industry indexes, the correlation between the mobile Internet index and the other two indexes is strong, while the correlation between the information index and the media index is relatively weak. These four TMT grade B, information B has just been folded, and the leverage is relatively high. The other three have relatively small leverage due to the large increase in the previous period.

X. financial securities

Comments: In the blue-chip market last year, the financial sector benefited the most, especially the securities industry. Securities B can be described in one word: "Urine! ! ! "In just 8 trading days, the two triggers have already stunned the friends. From the index point of view, the CSI 800 financial index has the largest coverage, and Shenwan securities industry and CSI full index securities companies have a high degree of overlap, while the CSI 800 securities insurance index has increased insurance stocks on the basis of securities industry stocks. The market of the financial sector is not satisfactory, and the corresponding share of Class B has also dropped significantly. On the whole, Securities B has the largest scale, the best liquidity and relatively high price leverage. Investors who expect the securities sector to rebound can pay attention to securities B. If you think there will be a wave of market in banks and other sectors, you can pay attention to financial B. Changsheng CSI Financial Real Estate Classification [1608 14] Fund Investment Guide.

XI。 Commodity resources

Comments: CITIC Jiantou said that 20 15, the resource sector may be the biggest opportunity for A shares, so we must embrace resources. Indeed, the commodity resources sector still has a low valuation sector that has risen in an all-round way, and perhaps investment opportunities have really arrived. The overall performance of commodity resources class B is acceptable, but it is not bright enough. Commodity B stood out with an increase of 19.38%. The leverage of commodity B is much higher than that of other B shares, and the liquidity of resource B is relatively better. Tracking the corresponding grade B of commodity resources plate involves four indexes, namely, mainland resource index, commodity index, 800 colored index and A-share resource index. Mainland resources and A-share resources industries are mainly concentrated in coal, oil and non-ferrous plates because of tracking targets; In addition to tracking these sectors, the commodity index also includes stocks corresponding to agricultural products (00006 1) and chemical products sectors, with scattered positions. Among the four grades B for tracking resource commodities, commodity B has the highest elasticity. One reason why the price elasticity of commodity B is so high is that it adopts the open structure of operating period. The other three B-grades have relatively low price leverage due to their sustainable structure.

Twelve. medical science

Comments: Medicine belongs to the defensive sector, and its valuation is relatively low. According to the study of apes, it has a strong configuration value. There are two graded funds in the pharmaceutical sector, with different tracking indexes. CSI 800 Medical Bio-index is the secondary industry index of CSI 800 Index, which consists of pharmaceutical stocks. The national medical and health industry index is compiled with reference to the tidal index, and 80 stocks with outstanding scale and liquidity belonging to the medical and health industry are selected as sample stocks. Medicine B has obvious advantages in leverage, scale and liquidity.

Thirteen. real estate

Comments: Many institutional investors are cautious about real estate investment. In the medium and long term, the real estate industry has been in an obvious downward cycle. Investing in real estate is equivalent to a bear market rebound, and its certainty and expected annualized expected return space are relatively limited. Therefore, we are also cautious about investing in real estate class B stocks. From the index point of view, 300 real estate contains fewer stocks (300 real estate index only contains 10 real estate leading stocks), and the overall volatility is strong. The other two indexes contain more stocks and their positions are scattered, so the fluctuation is generally small. The leverage of 300 Real Estate B is higher, but if it is in a falling market, the greater the leverage, the greater the loss.